Wikipedia:WikiProject Trains/ICC valuations/Marinette, Tomahawk and Western Railroad

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Location and general description of property.—The railroad of Marinette, Tomahawk & Western Railroad Company, hereinafter referred to as the carrier, is a single-track standard-gauge steam railroad, situated in the northern part of the State of Wisconsin, extending from Tomahawk westerly to Bradley and Spirit Falls, a distance of 23.572 miles, and from Tomahawk easterly to Harrison and Grundy, a distance of 19.961 miles. The road extending from Tomahawk to Harrison and Grundy is leased to the Tomahawk & Eastern Railway Company, for sole operation. The mileage owned by the carrier may be summarized as follows:

Corporate history.—The carrier was incorporated on November 16, 1912, under the general laws of the State of Wisconsin, for the purpose of acquiring the property of the Marinette, Tomahawk & Western Railway Company. Its principal office is at Tomahawk. Information as to the predecessors of the carrier and as to the development of the fixed physical property is given in Appendix 2.

History of corporate financing, capital stock, and long-term debt.—

APPENDIX 2

CORPORATE HISTORY

The Marinette, Tomahawk & Western Railway Company was incorporated on October 9, 1894, under the general laws of the State of Wisconsin, for the purpose of acquiring and extending the property of the Wisconsin and Chippewa Railway Company. The latter company, which was incorporated on July 29, 1891, under the general laws of the State of Wisconsin, disposed of its property, rights, and franchises by sale to the Marinette, Tomahawk & Western Railway Company on June 30, 1898. On November 21, 1906, a trust deed was entered into between the Marinette, Tomahawk & Western Railway Company, and Edward Bradley and James W. Bradley, as trustees, to whom the property was assigned and by whom it was operated for a stipulated period of three years, or until November 21, 1909. On November 30, 1909, the property passed into the hands of C. H. Grundy, as receiver of the Marinette, Tomahawk & Western Railway Company.

On November 23, 1909, the Bradley Company brought suit against the Marinette, Tomahawk & Western Railway Company because of the indebtedness of the latter to it. On November 30, 1912, the property of the Marinette, Tomahawk & Western Railway Company was purchased by R. B. Twedy in the interests of the Bradley Company, which, on the same date, conveyed the property, rights, and franchises to the carrier. Additional information as to the predecessors of the carrier is given in the accounting report of the carrier.

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The property owned by the carrier on date of valuation was acquired entirely by purchase and represented the property formerly owned by the Marinette, Tomahawk & Western Railway Company. This property had been acquired by the Marinette, Tomahawk & Western Railway Company as follows:

By purchase:

From the Bradley Company, in 1896—

Tomahawk to Harrison 14

From the Wisconsin and Chippewa Railway Company, in 1898—

Tomahawk to Bradley 6

Jersey City to Spirit Falls 14

Total purchased 34

By construction:

Somo Junction to Wisconsin River Dam, 1904 to 1905 4

Antigo Junction to Grundy Junction 6

Total constructed 10

Total mileage owned at date of demise 44

The accounts of the Chicago, Milwaukee and St. Paul Railway Company record an expenditure of $150,000 covering the acquisition of the Marinette, Tomahawk & Western Railway Company by deed dated September 9, 1903, of 19.25 miles of road, extending from Grundy to McInnes. The accounts of the Marinette, Tomahawk & Western Railway Company do not contain any information as to the sale of this property or as to how it was originally acquired by the Marinette, Tomahawk & Western Railway Company. It has therefore not been included in the foregoing statement of development of fixed physical property.

RESULT OF CORPORATE OPERATIONS