Wikipedia:WikiProject Trains/ICC valuations/Leavenworth Terminal Railway and Bridge Company
Interstate Commerce Commission, Valuation Reports, Volume 121
The Leavenworth Terminal Railway and Bridge Company
[edit]Location and General Description of Property
[edit]The railroad of The Leavenworth Terminal Railway and Bridge Company, hereinafter called the carrier, is a single-track standard-gauge steam railroad, extending from Stillings, Mo., over the Missouri River to Leavenworth, Kans. The property of the carrier, other than tracks, consists of a 1,100-foot steel-truss bridge across the Missouri River and a one and two story brick-and-frame freight house in Leavenworth. The carrier owns and uses 2.641 miles of all tracks, which are classified in the trackage table in Appendix 1.
Introductory
[edit]The carrier is a corporation of the State of Kansas, having its principal office at Leavenworth, Kans. It is controlled by the Chicago Great Western Railroad Company through ownership of its entire outstanding capital stock. On date of valuation the property of the carrier was used jointly by the following companies under long-term agreements: Chicago Great Western Railroad Company, Chicago, Rock Island & Pacific Railway Company, and Chicago, Burlington & Quincy Railroad Company.
Corporate History
[edit]The carrier was incorporated on January 16, 1892, under the laws of Kansas, for a term of 99 years. The purposes for which it was incorporated were to construct and operate a railroad and a railroad and wagon bridge from a point in the city of Leavenworth to a point opposite in the State of Missouri, and to purchase the rights and franchises necessary to consummate the project. On January 17, 1892, it purchased the rights and franchises and certain physical property of The Leavenworth and Platte County Bridge Company. The facts as to this predecessor are stated separately as a part of this appendix.
Development of Fixed Physical Property
[edit]The physical property acquired from The Leavenworth and Platte County Bridge Company on January 17, 1892, consisted of 7.19 acres of right of way in Platte County, Mo. The remainder of the property owned by the carrier on date of valuation was acquired or constructed by or for it since 1892. A large part of the lands acquired in the name of the carrier, the railroad tracks and facilities, and the steel drawbridge and river protection, were provided or constructed under an agreement with the Union Bridge Company of New York, dated December 8, 1892. The bridge and railroad facilities were constructed between December, 1892, and December, 1893, and formally placed in service December 30, 1893.
Leased Railway Property
[edit]The carrier owned on date of valuation facilities used by other companies to the extent indicated in the statement below. The description of the property, the period and terms of use, and the rentals accrued and credited to income for the year ending on date of valuation, are as follows:
| Rentals | |
|---|---|
| Solely owned, but jointly used by others, used by Chicago, Rock Island and Pacific Railroad Company, rent $16,000, and Chicago, Burlington & Quincy Railroad Company, rent $16,000, track between Stillings, Mo., and Leavenworth, Kans., the drawbridge, and facilities in Leavenworth, Kans., 1.567 miles; annual payment of $18,000 from each company for rental and proportion of cost of maintenance, operation, and taxes; reduced to $16,000 per annum for each company if property is used by other tenants; contract in force for 30 years from March 14, 1892. | $32,000 |
| Solely owned, but jointly used by others, used by Chicago Great Western Railroad Company, track between Stillings, Mo., and Leavenworth, Kans., 1.567 miles, the drawbridge, and facilities in Leavenworth, Kans.; annual payment of $12,000 for rental and proportion of cost of maintenance, operation, and taxes; contract in force to July 7, 1924. | 12,000 |
Predecessor Company
[edit]The Leavenworth and Platte County Bridge Company
[edit]Introductory
The Leavenworth and Platte County Bridge Company was a corporation of the State of Kansas. It was incorporated October 17, 1888, by Vinton Stillings and associates of Leavenworth, Kans., for the purpose of constructing and operating a pontoon bridge and to provide ferryboat service across the Missouri River between Leavenworth, Kans., and a point on the east bank of the river in Platte County, Mo. The construction of the pontoon bridge was authorized by acts of Congress approved on February 25, 1889, and March 2, 1889, and an act passed on July 25, 1890, authorized the substitution of a steel drawbridge for the pontoon. The pontoon bridge, authorized by the congressional acts referred to, was constructed in 1889 and placed in service on August 20 of that year, and the bridge and ferry service were maintained until June, 1891, when the ferryboat was sold and use of the bridge was discontinued. The company also acquired in 1889 7.19 acres of right of way for approaches in Missouri. The transfer and assignment to the carrier of the rights, etc., contained in the congressional acts to The Leavenworth and Platte County Bridge Company was approved by acts of Congress on May 9, 1892.