Wikipedia:WikiProject Trains/ICC valuations/Minneapolis, Northfield and Southern Railway
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The railroad of the Minneapolis, Northfield and Southern Railway, herein called the carrier, is a single-track, standard-gauge, steam railroad, located in southeastern Minnesota. The main lines extend from Fifty-fourth Street and Nicollet Avenue, in the city of Minneapolis, in a southerly direction to Northfield, 37.703 miles, and from Luce Line Junction, near the west line of the city of Minneapolis, to Auto Club, 14.274 miles. The company owns 51.977 miles of main track and 7.293 miles of yard tracks and sidings. Its road thus embraces 59.270 miles of all tracks owned and used. It also jointly owns and uses with another carrier terminal and depot facilities in Minneapolis. The carrier has trackage rights over 3.333 miles of double-track road of the Electric Short Line Terminal Company, extending from Luce Line Junction to the passenger station at Seventh Street and Third Avenue north, in the city of Minneapolis. On valuation date the carrier owned right of way and grading for an extension from Northfield to Faribault, Minn., about 13 miles.
- APPENDIX 2
- THE CARRIER
- INTRODUCTORY
The carrier is a corporation of the State of South Dakota, having its corporate office at Pierre, S. Dak., and its general administrative office at Minneapolis, Minn. The accounting records do not contain complete information relative to financial dealings or investments. For that reason only partial information can be given from the accounts in connection with such transactions. The records reviewed do not indicate that the carrier Is controlled by any individual or corporation, nor, on the other hand, that it controls any common-carrier corporation. The property of the carrier has been operated by its own organization during its entire life.
- CORPORATE HISTORY
The carrier was incorporated June 21, 1918, under the general laws of the State of South Dakota, for the purpose of acquiring and operating a railroad between the cities of Minneapolis and Northfield, Minn., and to make extensions to said road. Pursuant to this purpose, the carrier acquired, through purchase at foreclosure sale August 6, 1918, the property of the Minneapolis, St. Paul, Rochester and Dubuque Electric Traction Company. The following chart shows [...]
| No. | Company | Incorporation | Succession |
|---|---|---|---|
| 1. | Minneapolis, Northfield and Southern Railway. | Under general laws of South Dakota, June 21, 1918. | |
| 2. | Minneapolis, St. Paul, Rochester and Dubuque Electric Traction Company. | Under general laws of Maine in September, 1907. | Sold at foreclosure Aug. 6, 1918, after receivership begun July 21, 1916, and acquired Aug. 6, 1918, by 1. |
| 3. | Minneapolis, Rochester and Dubuque Traction Company. | Under general laws of New Jersey. Date of incorporation not determined. | Sold to 2, Oct. 12, 1907. |
- DEVELOPMENT OF FIXED PHYSICAL PROPERTY
The road owned by the carrier, 51.977 miles, was acquired by purchase from the Minneapolis, St. Paul, Rochester and Dubuque Electric Traction Company at foreclosure sale August 6, 1918. The years in which the various portions of the line were constructed are indicated in the following table:
- Constructed partly by the Minneapolis, Rochester and Dubuque and completed by the Minneapolis, St. Paul, Rochester and Dubuque:
- Fifty-fourth Street, Minneapolis, to Savage, Minn., completed July 1, 1910 12.38
- Savage to Northfield, Minn., completed Dec. 10, 1910 24.96
- 37.34
- Constructed by the Minneapolis, St. Paul, Rochester and Dubuque, Auto Club to Luce Line Junction, Minn., completed July 1, 1915 14.27
- Total recorded mileage 51.61
- Difference between total recorded mileage and mileage inventoried as of date of valuation 0.367
- Mileage inventoried as of date of valuation 51.977
In addition to the completed line of railroad, the carrier acquired about 13 miles of right of way and certain grading for an extension from Northfield to Faribault, Minn., from the Minneapolis, St. Paul, Rochester and Dubuque in the purchase at foreclosure sale of August 6, 1918.
- HISTORY OF CORPORATE FINANCING