Wikipedia:WikiProject Trains/ICC valuations/Minnesota Transfer Railway

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The railroad operated by The Minnesota Transfer Railway Company, herein called the carrier, is a single-track, standard-gauge, steam railroad, comprising switching and freight transfer facilities and stockyards, located in and between St. Paul and Minneapolis, Minn. The owned mileage aggregates 12.624 miles, and consists of two separated sections of main line, together extending from Merriam Park, St. Paul, to Belt Line Junction, Fridley, and connected under trackage rights by crossing tracks over the wide right of way of the Great Northern Railway Company at St. Anthony Park, St. Paul. The carrier also owns 92.854 miles of yard tracks and sidings. Its road thus embraces 105.478 miles of all tracks owned and used. In addition, the carrier leases for exclusive use 2.643 miles of yard tracks and sidings at St. Anthony Park, St. Paul, from the Chicago Great Western Railroad Company. It also has trackage rights over 0.21 mile of track owned by the Great Northern Railway Company near Raymond Avenue, St. Paul, which crosses the latter's right of way and serves as a connection between the two disconnected sections of owned line. The carrier is jointly controlled by nine carriers named in the introductory chapter of Appendix 2, and provides extensive yards and terminals to facilitate the transfer of freight between these railroads. It also performs a switching service between the numerous industries and railroads in this locality.

It is jointly controlled, through equal ownership of its entire capital stock, by nine tenant companies, named below:

Chicago, Burlington & Quincy Railroad Company.
Chicago Great Western Railroad Company.
Chicago, Milwaukee and St. Paul Railway Company.
The Chicago, Rock Island and Pacific Railway Company.
Chicago, Saint Paul, Minneapolis and Omaha Railway Company.
Great Northern Railway Company.
The Minneapolis & St. Louis Railroad Company.
Minneapolis, St. Paul & Sault Ste. Marie Railway Company.
Northern Pacific Railway Company.

On the other hand, the records reviewed do not indicate that the carrier controls any common-carrier corporation. The property of the carrier was operated by its own organization from the dates of acquirement thereof to December 31, 1917. On January 1, 1918, its common-carrier property, together with its leased property and trackage rights, were taken over for operation by the United States Railroad Administration, which still operates them on date of valuation.

CORPORATE HISTORY

The carrier was incorporated March 22, 1883, under the general laws of the State of Minnesota. The date of organization was August 25, 1883. This company was caused to be incorporated by certain railroad companies for the purpose of acquiring and operating transfer facilities for their benefit under joint-tenant arrangements. Prior to its incorporation, or during the period from 1880 to 1883, inclusive, these railroad companies had constructed certain transfer facilities and jointly operated such property as an unincorporated association styled the Union Stock Yards-Minnesota Transfer until March 1, 1884, when they transferred title therein to the carrier. The carrier on October 24, 1898, purchased the property of the Minnesota Belt Line Railway and Transfer Company, which had been incorporated June 27, 1887, under the general laws of Minnesota.

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The owned mileage of the carrier was acquired partly by purchase and partly by construction, as follows:

Acquired by purchase, from—

Certain tenant companies, Mar. 1, 1884; constructed by them as an unincorporated association styled the Union Stock Yards-Minnesota Transfer, during the period from 1880 to 1883, inclusive, in anticipation of the formation of the carrier 0.83

St. Paul, Minneapolis and Manitoba Railway Company, predecessor of the Great Northern Railway Company, Mar. 1, 1884; no information regarding the construction of this property has been obtained from the records reviewed 0.24

Minnesota Belt Line, Oct. 24, 1898; constructed by that company during the period from 1889 to 1892, inclusive 11.50

Acquired by construction, 1887 and 1898 0.93

Total recorded mileage 13.50

Difference between total recorded mileage and mileage inventoried as of date of valuation 0.876

Mileage inventoried as of date of valuation 12.624

HISTORY OF CORPORATE FINANCING