Wikipedia:WikiProject Trains/ICC valuations/Pierre, Rapid City and North-Western Railway
Interstate Commerce Commission, Valuation Reports, Volume 137
Pierre, Rapid City and North-Western Railway Company
[edit]Location and General Description of Property
[edit]The railroad of the Pierre, Rapid City and North-Western Railway Company, herein called the Pierre, Rapid City and North-Western, is a single-track, standard-gauge, steam railroad, located in central-western South Dakota. The line extends from Fort Pierre in a westerly direction to Rapid City, 165.522 miles. It also owns 16.945 miles of yard tracks and sidings. Its road thus embraces 182.467 miles of all tracks owned.
Introductory
[edit]The Pierre, Rapid City and North-Western is a corporation of the State of South Dakota, having its corporate office at Huron, S. Dak., and its general administrative office at Chicago, Ill. It is controlled by the North Western, through ownership of the entire outstanding capital stock. On the other hand, the records do not indicate that this company controls any common-carrier corporation. The property of the Pierre, Rapid City and North-Western has been operated by its own organization during its entire life.
Corporate History
[edit]The Pierre, Rapid City and North-Western was incorporated September 6, 1905, under the general laws of the State of South Dakota, for the purpose of constructing, or purchasing, and operating a railroad from Fort Pierre to Rapid City, S. Dak., about 165 miles. The date of organization was September 18, 1905. Pursuant to this purpose, the Pierre, Rapid City and North-Western acquired by purchase, September 13, 1905, the rights and franchises of the Rapid City, Missouri River & St. Paul Railroad Company, which had been incorporated under the general laws of South Dakota, March 28, 1891.
Development of Fixed Physical Property
[edit]The owned mileage, was acquired by construction, the property acquired from the predecessor consisting solely of some right of way. The years when the various portions of the line were constructed are indicated in the following statement.
| Mileage | |
|---|---|
| Fort Pierre to Philip, S. Dak., 1906 | 76.00 |
| Philip to Wasta, S. Dak., 1907 | 44.48 |
| Wasta to Rapid City, S. Dak., 1906 | 45.00 |
| Total recorded mileage | 165.48 |
| Difference between total recorded mileage and mileage inventoried as of date of valuation | .042 |
| Mileage inventoried as of date of valuation | 165.522 |
The construction work was performed by the forces of the North Western, or under its supervision.
Leased Railway Property
[edit]The Pierre, Rapid City and North-Western uses on date of valuation property owned by other companies and other companies use property owned by it to the extent indicated in the statement below. The description of the property, the period and terms of use, and the rentals accrued and charged or credited to income for the year ending on date of valuation, are as follows:
| Rentals | |
|---|---|
| Solely owned, but, jointly used, used with— | |
| Pierre and Fort Pierre Bridge, tracks, 0.64 mile, passenger station and other facilities at Fort Pierre, S. Dak., for an indefinite period from Mar. 17, 1908, subject to 90 days' notice; annual payment for tracks, 5 per cent on 50 per cent of valuation of $59,500, plus 50 per cent of cost of maintenance, operation, and taxes; for passenger station and other terminal facilities, one-half of cost of maintenance, operation, and taxes. | $1,487.52 |
| Jointly used, but not owned, owned by— | |
| Pierre and Fort Pierre Bridge, tracks, 1.818 miles, from Pierre to Fort Pierre, S. Dak., for an indefinite period from Mar. 17, 1908, subject to 90 days' notice; annual payments based on persons and property handled, plus 5 cents per train-mile for the operation of nonrevenue trains; nothing charged to rentals. | ...... |
| North Western— | |
| Tracks, 9.90 miles, yards, engine house, and other facilities at Pierre, S. Dak., for an indefinite period from Mar. 17, 1908, subject to three months' notice; annual payment per cent of 5 per cent on valuation of $510,169, plus 30 per cent of expenses for operations, maintenance, taxes, and assessments. | 8,155.44 |
| Tracks, 7.07 miles, passenger and freight stations, and other facilities at Rapid City, S. Dak.; no contract, operation on 50 per cent basis; nothing charged to rentals. | ...... |
Predecessor Company
[edit]Rapid City, Missouri River & St. Paul Railroad Company
[edit]This company was incorporated March 28, 1891, in the State of South Dakota. Its accounting records were not obtained. Therefore, no information can be given regarding financial dealings, corporate operations, or investments. The records reviewed do not indicate whether the company was controlled by any individual or corporation on September 13, 1905, the date of sale, nor, on the other hand, whether it then controlled any common-carrier corporation. It did not own any completed railroad on date of sale. The property consisted of certain rights and franchises, including some right of way, all of which were conveyed to the Pierre, Rapid City and North-Western.