Wikipedia:WikiProject Trains/ICC valuations/Minneapolis, St. Paul and Sault Ste. Marie Railway
Interstate Commerce Commission, Valuation Reports, Volume 143
Minneapolis, St. Paul & Sault Ste. Marie Railway
[edit]Tentative valuations as of June 30, 1916, of the properties of Minneapolis, St. Paul & Sault Ste. Marie Railway Company, hereinafter called the Soo Line, and Minnesota Northwestern Electric Railway Company, and as of June 30, 1917, of the properties of Wisconsin Central Railway Company, Central Terminal Company, Gogebic and Montreal River Railroad Company, and Wisconsin & Northern Railroad Company, were completed and notices thereof were served upon the respective carriers and other interested parties.
Introductory
[edit]The Soo Line is a corporation of Michigan, Wisconsin, Minnesota, and the former Territory of Dakota. Its principal office is in Minneapolis, Minn.
The Soo Line caused to be incorporated a company known as the Tri-State Land Company, whose capital stock is owned entirely by the Soo Line. The Tri-State Land Company's operations, in the main, were the purchasing of large tracts of land along the proposed routes and surveys of the Soo Line's road. Of such lands, portions were sold to settlers, portions were used for town sites, and portions were transferred to the Soo Line for transportation purposes.
On April 1, 1909, an agreement was entered into between the Soo Line and the Wisconsin Central, under the terms of which control of all the property of the Wisconsin Central was transferred to the Soo Line for a period of 99 years from April 1, 1909. This agreement covered the acquisition of the voting rights of the Wisconsin Central through an exchange of $11,176,800 par value of the Soo Line's leased line stock certificates for $11,176,800 par value of preferred stock of the Wisconsin Central. The agreement recites that the preferred stock of the Wisconsin Central should be deposited with the Agents Bank of Montreal, New York, N. Y., as trustees, which was to effect the exchange of securities. In this manner, the carrier acquired control of the Wisconsin Central. In the event of default in the payment of $4 per share per annum on each of the Soo Line's 4 per cent leased line stock certificates, the trustee is to return the preferred stock to the original holders and cancel the leased line stock certificates.
The so-called lease is more in the nature of an operating agreement than a lease. The Soo Line does not participate in the profit realized or the losses sustained in the operation of the property of the Wisconsin Central, nor does it pay a rental of any description in connection with the lease. All profits or losses accrue to the Wisconsin Central. The salaries of certain officers of the Soo Line who are also officers of the Wisconsin Central are paid proportionately by both companies.
The control of the Soo Line on date of valuation was with the Canadian Pacific Railway Company through ownership of $19,082,800 par value of the $37,810,200 par value of capital stock outstanding.
The Soo Line, through stock ownership, controls other companies solely or jointly. The Central Terminal, the Western Express Company, and the Tri-State Land Company are controlled solely through ownership of all their capital stock. The Wisconsin Central is controlled solely through ownership of 72.7 per cent of that company’s capital stock.
The names of companies controlled jointly by the Soo Line with other carriers and the percentage of stock owned is as indicated below:
| Percentage of stock ownership | |
|---|---|
| Ste. Marie Depot Company; owned jointly by the Soo Line and the Duluth, South Shore & Atlantic Railway Company. | 50 |
| Sault Ste. Marie Bridge Company; owned jointly by the New Jersey Bridge Construction Company; The Duluth, South Shore & Atlantic Railway Company and Canadian Pacific Railway Company, joint control by the Soo Line obtained through control of the New Jersey Bridge Construction Company. | 25 |
| The Minnesota Transfer Railway Company and the Saint Paul Union Depot Company; owned jointly by the Soo Line, Chicago, Milwaukee and St. Paul Railway Company; Chicago, Saint Paul, Minneapolis and Omaha Railway Company; Great Northern Railway Company; Northern Pacific Railway Company; Chicago Great Western Railroad Company; Chicago, Burlington & Quincy Railroad Company; The Minneapolis & St. Louis Railroad Company and The Chicago, Rock Island and Pacific Railway Company. | 11 1/9 |
| The Belt Railway Company of Chicago; owned jointly by the Soo Line; The Atchison, Topeka and Santa Fe Railway Company; Illinois Central Railroad Company; The Chicago, Rock Island and Pacific Railway Company; Chicago, Burlington & Quincy Railroad Company; Pennsylvania Company; The Chesapeake and Ohio Railway Company of Indiana; Chicago and Eastern Illinois Railroad Company; Chicago, Indianapolis and Louisville Railway Company; Chicago & Erie Railroad Company; Grand Trunk Western Railway Company and Wabash Railway Company. | 8⅓ |
Location and General Description of Property
[edit]The railroad of the Soo Line is a standard-gauge, steam railroad, located in Michigan, Wisconsin, Minnesota, South Dakota, North Dakota, and Montana. The principal main line extends from Sault Ste. Marie, Mich., southwesterly to St. Paul and Minneapolis, Minn., thence northwesterly to Portal, N. Dak., on the international boundary. Other main lines reach Duluth, Thief River Falls, and Noyes, Minn., and points in North Dakota. The main line and branches serve large portions of the States of Minnesota and North Dakota, the northern peninsula of Michigan, the northern part of Wisconsin, and small sections of South Dakota and Montana. The Soo Line wholly owns and uses 3,803.567 miles of tracks, and owns but does not use 20.123 miles of tracks, and jointly owns and uses trackage with other carriers. It also operates, under a lease or operating agreement, which will be hereinafter more particularly described, the common-carrier properties of the Wisconsin Central and of its lessors, the Central Terminal and the Gogebic and Montreal.
The Soo Line wholly owns and uses 3,803.567 miles of tracks, and owns but does not use 20.123 miles of tracks, which are classified in the trackage table in Appendix 1. It also owns or uses trackage with other carriers as shown in Appendix 1.
Corporate History
[edit]The Soo Line was created under the laws of Michigan, Wisconsin, Minnesota, and the former Territory of Dakota, through filing the agreement for the consolidation of the Minneapolis, Sault Ste. Marie and Atlantic Railway Company (of 1887). The Minneapolis and St. Croix Railway Company, The Aberdeen, Bismarck and Northwestern Railway Company; and The Minneapolis and Pacific Railway Company. The articles of consolidation were signed June 11, 1888, filed in the then Territory of Dakota on June 12, 1888, and in the States of Michigan, Wisconsin, and Minnesota on June 13, 1888. The term of years for which the Soo Line is incorporated is stated in the agreement for consolidation as being the same as that of the consolidating companies. The articles of incorporation for the Minneapolis, Sault Ste. Marie and Atlantic (of 1887) and the Aberdeen, Bismarck and Northwestern do not specify the term. The term for the Minneapolis and St. Croix was 100 years from September 15, 1883, and for the Minneapolis and Pacific, 100 years from September 15, 1884. The Soo Line's stated purpose was to acquire, own, hold, possess, use, exercise, and enjoy all the rights, powers, privileges and immunities owned, held, possessed, used, exercised, and enjoyed by each of the companies consolidated.
The corporate history of the Soo Line involves fifteen predecessor companies all of which are reported upon herein. The following chart shows the names of the corporations, the respective dates of incorporation, and of succession, the immediately succeeding corporation and the manner of succession. Reference to each of these companies is made in the last column by its respective number shown in the first column:
| No. | Name | Incorporation | Succession |
|---|---|---|---|
| 1. | Minneapolis, St. Paul & Sault Ste. Marie Railway Company. | Under general laws of Michigan, Wisconsin, Minnesota, and Territory of Dakota, through articles of consolidation filed in Territory of Dakota June 12, 1888, and in Michigan, Wisconsin, and Minnesota June 13, 1888. | |
| 2. | Minneapolis, Sault Ste. Marie and Atlantic Railway Company. | Under general laws of Michigan and Wisconsin, through articles of consolidation filed in Michigan, Mar. 30, 1887; Wisconsin April 13, 1887. | Consolidated with 5, 6, and 8, to form 1. |
| 3. | The Minneapolis, Sault Ste. Marie and Atlantic Railway Company. | Under general laws of Wisconsin, September 29, 1883. | Consolidated Mar. 22, 1888, with 4 to form 2. |
| 4. | The Menominee and Sault Ste. Marie Railway Company. | Under general laws of Michigan, Apr. 20, 1885. | Consolidated Mar. 22, 1888, with 3 to form 2. |
| 5. | The Minneapolis and St. Croix Railway Company.1 | Under general laws of Minnesota, Sept. 15, 1883. | Consolidated June 11, 1888, with 2, 6, and 8 to form 1. |
| 6. | The Aberdeen, Bismarck and Northwestern Railway Company. | See 7. | Consolidated June 11, 1888, with 2, 5, and 8 to form 1. |
| 7. | The Ordway, Bismarck and Northwestern Railway Company. | Under public laws of Territory of Dakota, Feb. 18, 1879. | Name changed to 6, June 1, 1887. |
| 8. | The Minneapolis and Pacific Railway Company. | Under general laws of Minnesota, Sept. 4, 1884. | Consolidated June 11, 1888, with 2, 5, and 6 to form 1. |
| 9. | The Rice Lake, Dallas & Menominee Railway Company. | Under laws of Wisconsin, Sept. 9, 1893. | Sold Nov. 15, 1899, and Oct. 1, 1900, to 1. |
| 10. | Rice Lake & Northern Railway Company. | Under laws of Wisconsin, Mar. 12, 1901. | Sold to 1, Feb. 20, 1902. |
| 11. | Bismarck, Washburn and Great Falls Railway Company. | See 12. | Sold to 1, May 7, 1904. |
| 12. | Bismarck, Washburn and Fort Buford Railway Company. | Under general laws of North Dakota, May 13, 1889. | Name changed to 11, Jan. 10, 1900. |
| 13. | Superior, Balsam Lake and Southern Railway Company. | Under general laws of Wisconsin, Apr. 14, 1900. | Sold to 1, May 1, 1901. |
| 14. | Tony & North Eastern Railway Company. | Under laws of Wisconsin, Oct. 6, 1902. | Sold to 1, Jan. 9, 1903. |
| 15. | Cuyuna Iron Range Railway Company. | Under statutes of Minnesota, Oct. 17, 1908. | Sold to 1, Mar. 4, 1910. |
| 16. | Fairmount and Veblen Railway Company. | Under laws of South Dakota, Dec. 18, 1912. | Sold to 1, Jan. 30, 1915. |
1 Although included in the consolidation of June 11, 1888, the property, rights, and franchises of 5 had been sold in January, 1888, to 2.
Development of Fixed Physical Property
[edit]The mileage of road wholly owned by the Soo Line on date of valuation, amounting to approximately 3,145 miles, was acquired as follows:
| Mileage | |
|---|---|
| By consolidation. | 786 |
| By direct purchase. | 223 |
| By construction. | 2,144 |
| Total. | 3,153 |
| Less remeasurements, adjustments, and deductions for jointly owned road to agree with mileage ascertained by inventory. | 8 |
| Net total. | 3,145 |
By consolidation and direct purchase.—The location of property acquired by purchase, the names of predecessor companies involved in their construction when completed, and of companies which sold them to the Soo Line, the dates of construction, and mileage of road are shown in the following tabulation:
| Mileage | ||
|---|---|---|
| By consolidation; acquired from— | ||
| Minneapolis, Sault Ste. Marie and Atlantic (of 1887), June 11, 1888— | ||
| Constructed by that company— | ||
| Minnesota-Wisconsin State line to Turtle Lake, Wis., 1887. | 37 | |
| Main Creek to Rhinelander, Wis., 1886. | 76 | |
| Rhinelander, Wis., to Gladstone, Mich., 1887. | 126 | |
| Gladstone to Sault Ste. Marie, Mich., 1888. | 148 | |
| Dresser Junction to St. Croix Falls, Wis., 1887. | 5 | |
| Constructed by the Minneapolis, Sault Ste. Marie and Atlantic (of 1883)— | ||
| Turtle Lake to Bruce, Wis., 1884. | 47 | |
| Bruce to Main Creek, Wis., 1885. | 20 | |
| 459 | ||
| Minneapolis and St. Croix, June 11, 1888— | ||
| Constructed by that company:1— | ||
| Shoreham, Minn., to Minnesota-Wisconsin State line, 1887. | 36 | |
| Cardigan Junction to Soo Line Junction, Minn., 1888. | 5 | |
| 41 | ||
| Aberdeen, Bismarck and Northwestern, June 11, 1888— | ||
| Constructed by that company (113 miles of graded roadbed, Aberdeen to Bismarck, Dakota, 1888) | --- | |
| Minneapolis and Pacific, June 11, 1888— | ||
| Constructed by that company— | ||
| Minneapolis, Minn., to Ledgerwood, Dakota, 1886. | 216 | |
| Ledgerwood to Boynton, Dakota, 1887. | 70 | |
| 286 | ||
| Total acquired by consolidation. | 786 | |
| By direct purchase; acquired from— | ||
| Rice Lake, Dallas & Menominee, Nov. 15, 1899, and Oct. 1, 1900— | ||
| Constructed by that company— | ||
| Rice Lake to Cameron, Wis., 1894. | 7 | |
| Barron to Ridgewood, Wis., 1900. | 18 | |
| 25 | ||
| Rice Lake & Northern, Feb. 20, 1902— | ||
| Constructed by that company, Rice Lake to Birchwood, Wis., 1902. | 16 | |
| Bismarck, Washburn and Great Falls Railway, May 7, 1904— | ||
| Constructed by that company— | ||
| Bismarck to Wilton, N. Dak., 1900. | 27 | |
| Wilton to Washburn, N. Dak., 1902. | 18 | |
| Washburn to Underwood, N. Dak., 1904. | 13 | |
| 58 | ||
| Tony & North Eastern, Jan. 9, 1903— | ||
| Constructed by that company, Tony, Wis., to point 2 miles northeast, 1903. | 2 | |
| Cuyuna Iron Range Railway, Mar. 4, 1910— | ||
| Constructed by that company, 1910 (36 miles of uncompleted road between Lawler Junction and Cuyuna, Minn.) | --- | |
| Fairmount and Veblen, Jan. 30, 1915— | ||
| Constructed by that company— | ||
| Fairmount, N. D., to Veblen, S. Dak., 1913. | 46 | |
| Veblen to Grenville, S. Dak., 1914. | 41 | |
| 87 | ||
| Bradley–Watkins Company, Sept. 14, 1903, Rexton to Meades Quarry, Mich. (date of construction unknown). | 16 | |
| Minnesota Northwestern Feb. 9, 1915, Thief River Falls to Goodridge, Minn. (date of construction unknown). | 19 | |
| Total acquired by purchase. | 223 | |
1 Although included in the consolidation of June 11, 1888, the property, rights, and franchises of this company had been sold in January, 1888, to the Minneapolis, Sault Ste. Marie and Atlantic (of 1887).
By construction.—The location of property acquired by construction, the dates constructed and placed in operation and the mileage of road are shown in the following tabulation:
| From— | To— | Year constructed |
Date placed in operation |
Approximate mileage |
|---|---|---|---|---|
| Camden Junction, Minn. | Northtown Junction, Minn. | 1891 | 1891 | 1 |
| Rankinson[sic - Hankinson], N. Dak. | Valley City, N. Dak. | 1891 | Nov. 11, 1891 | 81 |
| Valley City, N. Dak. | Cathay, N. Dak. | 1892 | Dec. 1, 1892 | 80 |
| Cathay, N. Dak. | Portal, N. Dak. | 1893 | Sept. 25, 1893 | 183 |
| Boynton, N. Dak. | Merricourt, N. Dak. | 1891 | Nov. 5, 1891 | 10 |
| Merricourt, N. Dak. | Kulm, N. Dak. | 1892 | Nov. 13, 1892 | 12 |
| Kulm, N. Dak. | Braddock, N. Dak. | 1898 | Oct. 16, 1898 | 78 |
| Rapid River, Mich. | Treanary[sic - Traunik], Mich. | 1899 | Dec. 18, 1899 | 24 |
| Wishek, N. Dak. | Pollock, S. Dak. | 1901 | Oct. 1, 1901 | 70 |
| Summitt, Wis. | Frederic, Wis. | 1900 | Nov. 24, 1901 | 22 |
| Braddock, N. Dak. | Bismarck, N. Dak. | 1902 | Aug. 20, 1902 | 33 |
| Treanary[sic - Traunik], Mich. | Eben Junction, Mich. | 1902 | Nov. 17, 1902 | 6 |
| Glenwood, Minn. | Ottertail, Minn. | 1903 | Dec. 10, 1903 | 59 |
| Birchwood, Wis. | Reserve, Wis. | 1903 | Jan. 22, 1904 | 19 |
| Ottertail, Minn. | Mile Post 205, Minn. | 1904 | Aug. 31, 1904 | 25 |
| Mile Post 205, Minn. | Noyes, Minn. | 1904 | Nov. 21, 1904 | 181 |
| Thief River Fails, Minn. | Kenmare, N. Dak. | 1905 | Dec. 1, 1905 | 297 |
| Underwood, N. Dak. | Garrison, N. Dak. | 1905 | Nov. 1, 1905 | 20 |
| Egeland, N. Dak. | Armourdale, N. Dak. | 1905 | Oct. 22, 1906 | 22 |
| Flaxton, N. Dak. | Ambrose, N. Dak. | 1906 | Sept. 19, 1906 | 51 |
| Garrison, N. Dak. | Max, N. Dak. | 1906 | Dec. 26, 1906 | 14 |
| Drake, N. Dak. | Plaza, N. Dak. | 1906 | Sept. 1, 1907 | 84 |
| Brooten, Minn. | Onamia, Minn. | 1907 | Nov. 25, 1908 | 87 |
| Onamia, Minn. | Duluth, Minn. | 1908–9 | Oct. 14, 1909 | 100 |
| Soo Line Junction (St. Paul, Minn.). | Seventh Street, St. Paul, Minn. | 1909 | Nov. 30, 1909 | 2 |
| Moose Lake, Minn. | Plummer, Minn. | 1909 | Nov. 13, 1910 | 193 |
| Lawler Junction, Minn. | Range Junction, Minn. | 1909 | Nov. — 1910 | 45 |
| Northtown Junction, Minn. | Central Avenue, Minneapolis, Minn. | 1910 | Feb. 26, 1911 | 1 |
| Ore Line Junction, Wis. | Ore Docks, Superior, Wis. | 1911 | May 4, 1911 | 7 |
| Northtown Junction, Minn. | Shoreham (Minneapolis); Minn. | 1907–9 | 1912 | 1 |
| Range Junction, Minn. | Riverton, Minn. | 1909–1913 | 1913 | 6 |
| Ironhub, Minn. | Iron Mountain, Minn. | 1913 | 1913 | 8 |
| Frederic, Wis. | Boylston Junction, Wis. | 1911 | Aug. 1, 1912 | 72 |
| Fordville, N. Dak. | Drake, N. Dak. | 1911 | Sept. 1, 1912 | 131 |
| Ambrose, N. Dak. | Whitetail, Mont. | 1913 | Feb. 1, 1914 | 86 |
| Prairie Junction, N. Dak. | Sanish, N. Dak. | 1914 | July 1, 1915 | 33 |
| Total mileage constructed. | 2,144 |
Leased Railway Property
[edit]The Soo Line uses on date of valuation facilities owned by other companies and other companies use facilities owned by the Soo Line 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:
| Rental | ||
|---|---|---|
| Solely owned, but not used; leased to Minnesota Northwestern, tracks from Thief River Falls to Goodridge, Minn., 18.67 miles; annual rental $9,350. | $9,350.00 | |
| Solely owned, but jointly used, used with— | ||
| The Duluth, South Shore & Atlantic Railway Company, freight, passenger, and terminal facilities at Duluth, Minn., and Superior, Wis.; annual rental for freight-house facilities at Superior, $300, for track at Duluth and Superior, $5 per passenger train, for roundhouse, $150, and for passenger-terminals, 2 per cent on valuation of property. | 6,030.00 | |
| Wisconsin Central— | ||
| Terminal facilities and tracks at Minneapolis and St. Paul; rental based on 2 per cent of valuation of property. | 58,231.92 | |
| Tracks and facilities at Duluth, Minn., and Superior, Wis.; rental based on 2 per cent of valuation of property. | 33,072.79 | |
| Various companies, small facilities. | 9,082.73 | |
| Jointly used, but not owned, leased from— | ||
| Chicago, Milwaukee and St. Paul Railway Company— | ||
| Tracks from St. Paul to Minneapolis, Minn., 10.63 miles; rental based on valuation of property. | 16,943.92 | |
| Passenger terminals at Minneapolis, Minn.; rental based on valuation of property. | 12,740.85 | |
| Chicago, St. Paul, Minneapolis and Omaha Railway Company— | ||
| Tracks in St. Paul, Minn., about 1 mile; rental based on valuation of property. | 2,200.75 | |
| Tracks in Duluth, Minn., 1 mile; rental based on valuation of property. | 375.00 | |
| Chicago and North Western Railway Company, tracks from Escanaba to Larch, Mich., about 3.30 miles; annual rental, $1,380. | 1,380.00 | |
| Duluth Terminal Railway Company, tracks in Duluth, Minn., 1.21 miles; rental based on valuation of property. | 5,185.68 | |
| The Lake Superior Terminal and Transfer Railway Company of the State of Wisconsin, tracks in Superior, Wis., 0.098 mile; rental based on valuation of property. | 1,724.23 | |
| The Minneapolis & St. Louis Railroad Company, tracks in Minneapolis, Minn., 0.80 mile; rental based on valuation of property. | 8,849.91 | |
| Northern Pacific Railway Company— | ||
| Tracks at Duluth, Minn., 1 mile; rental based on valuation of property. | 1,125.00 | |
| Tracks on the Cuyuna Iron Range, 1 mile; rental based on valuation of property. | 1,507.56 | |
| Tracks from Fourth Avenue, North, to Fourteenth Avenue, North, in Minneapolis, 0.64 mile; rental based on valuation of property. | 15,544.12 | |
| Tracks from Union Depot connection to Soo Line Junction, in St. Paul, Minn., 2.92 miles; rental based on valuation of property. | 13,165.10 | |
| Bridges and tracks at Superior, Wis.; rental based on valuation of property. | 5,441.80 | |
| The Duluth and Superior Bridge Company, bridges and interlockers and tracks between Duluth, Minn., and Superior, Wis.; rental paid is $1 per locomotive traversing the property, 60 cents per passenger car, 30 cents per freight car, and 6 per cent per annum on valuation of property. | 10,500.12 | |
| The Minnesota Transfer Railway Company, freight terminals at St. Paul, Minn.; rental is a proportion of bond interest, taxes, etc., based on tonnage handled. | 5,310.22 | |
| Sault Ste. Marie Bridge Company, bridges at Sault Ste. Marie, Mich.; rental based on a proportion of bond interest and sinking-fund requirements. | 16,119.15 | |
| The St. Paul Union Depot Company, passenger terminal facilities at St. Paul, Minn.; rental based on a proportion of bond interest, dividends, etc. | 10,387.65 | |
| Wisconsin Central Railway Company, terminal facilities at Duluth, Minn., and Superior, Wis.; rental based on 2 per cent of valuation of property. | 48,982.27 | |
| Various companies, small facilities. | 3,221.14 | |
| Neither owned nor used, leased from the Central Terminal and sub leased to the Wisconsin Central: | ||
| Freight terminals and facilities at Chicago, Ill., including 6.66 miles of track; constitutes all physical property owned by the Central Terminal; leased for period from Nov. 1, 1912, to Apr. 1, 2008; Soo Line subleases this property to the Wisconsin Central and rents offices and space in the freight station to others; rental paid by the Soo Line— | ||
| Interest on bonds. | 238,590.00 | |
| Property of unextinguished discount amortized. | 17,640.00 | |
| Taxes. | 43,890.10 | |
| General expenses. | 18,474.07 | |
| Amount applied to sinking funds for retirement of bonds. | 81,610.00 | |
| 400,204.17 | ||
| No contract covering use of above property by the Wisconsin Central could be found; the Central Terminal billed the Soo Line in the amount of $120,000 as rent for the year ended on date of valuation, which amount was recharged by the Soo Line to the Wisconsin Central without passing same through the rental accounts; Soo Line, in addition, accrued rental as received for the year ended on date of valuation in the amount of. | 154,004.04 | |
| Rent for offices and space in the freight station of the property received by the Soo Line aggregated. | 41,972.88 |
The Soo Line accrued as rental paid for the use of property of others for the year ended on date of valuation an aggregate of $580,908.64. It accrued as rental received from others for the use of property during the same year a total of $277,740.32.
Predecessor Companies
[edit]Minneapolis, Sault Ste. Marie and Atlantic Railway (of 1887)
[edit]Introductory
This company was created on March 22, 1886, by the consolidation of The Minneapolis, Sault Ste. Marie and Atlantic Railway Company (of 1883) and The Menominee and Sault Ste. Marie Railway Company. Articles of consolidation were filed in the office of the secretary of state of Michigan, on March 30, 1887, and of Wisconsin, on April 13, 1887. It was controlled by W. D. Washburn, of Minneapolis, Minn., and his associates. On June 11, 1888, the company was consolidated with The Minneapolis and Pacific Railway Company, The Minneapolis and St. Croix Railway Company, and The Aberdeen, Bismarck and North western Railway Company to form the Soo Line.
At the date of consolidation, the company owned and operated about 500 miles of single-track, standard-gauge railroad, extending eastward from Shoreham, in Minneapolis, Minn., to Sault Ste. Marie, Mich., about 490 miles, with branches extending southward from Cardigan Junction to Soo Line Junction in St. Paul, Minn., about 5 miles, and northward from Dresser Junction to St. Croix Falls, about 5 miles. It also operated, under trackage rights, about 0.75 mile of railroad of the Northern Pacific Railway Company between Camden and Northtown Junction, in Minneapolis.
Development of Fixed Physical Property
Of the 500 miles of road owned on the date of demise, 67 miles was acquired from The Minneapolis, Sault Ste. Marie and Atlantic (of 1883), 41 miles from The Minneapolis and St. Croix, and 392 miles through construction. Details with respect to the construction of this property are given in the chapter on development of fixed physical property of the Soo Line.
The Minneapolis, Sault Ste. Marie and Atlantic Railway (of 1883)
[edit]Introductory
This company was incorporated under the general laws of Wisconsin, on September 29, 1883, for an unstated period. It was incorporated by W. D. Washburn, of Minneapolis, Minn., and his associates, and was controlled by them from its inception, to March 22, 1886, on which date the company was consolidated with The Menominee and Sault Ste. Marie Railway Company, forming Minneapolis, Sault Ste. Marie and Atlantic Railway Company (of 1887).
At date of consolidation, the company owned and operated about 67 miles of single-track, standard-gauge railroad, extending from Turtle Lake to Main Creek, Wis., all of which was acquired by construction in 1884–85. In addition, the company owned about 195 miles which was under construction, 37 miles between the Minnesota-Wisconsin State line and Turtle Lake, and 158 miles between Main Creek and the Wisconsin-Michigan State line.
The Menominee and Sault Ste. Marie Railway
[edit]This company was incorporated under the general laws of Michigan, on April 20, 1885, for a period of 100 years, by W. D. Washburn of Minneapolis, Minn., and his associates, and was controlled by them from its inception to March 22, 1886. On March 22, 1886, the company was consolidated with The Minneapolis, Sault Ste. Marie and Atlantic Railway Company (of 1883) to form the Minneapolis, Sault Ste. Marie and Atlantic Railway Company (of 1887). The company constructed no railroad and made no expenditures for railroad property.
The Minneapolis and St. Croix Railway
[edit]This company was incorporated under the general laws of Minnesota on September 15, 1883, for a period of 100 years by W. D. Washburn, of Minneapolis, and his associates, and was controlled by them from its inception to June 11, 1888.
Although the railroad property, rights, and franchises of this company were sold to the Minneapolis, Sault Ste. Marie and Atlantic (of 1887) in January, 1888, it was also included in the consolidation of June 11, 1888, to form the Soo Line. The reason for this is not disclosed in the records.
The property of this company, at the date it was sold, consisted of about 36 miles of single-track railroad, extending from a point known as Shoreham in Minneapolis, Minn., to a connection with the railroad of the Minneapolis, Sault Ste. Marie and Atlantic (of 1887) at a point on the boundary line between Minnesota and Wisconsin, also about 5.5 miles, extending from Cardigan Junction, Minn., to a point known as Soo Line Junction in St. Paul, Minn. The former line was constructed during 1887 and the latter during 1887 and 1888. These lines were placed in operation on September 12, 1887, and February 22, 1888, respectively, by the Minneapolis, Sault Ste. Marie and Atlantic (of 1887), which exclusively operated all of this company's property under the terms of a lease running for a period of 40 years from January 1, 1886.
No books of this company were obtained. Therefore, no complete statement of its financial affairs can be made. The outlay for constructing this company’s property is included in the investment in road and equipment account of the Minneapolis, Sault Ste. Marie and Atlantic (of 1887), but can not be separately identified therein.
In the consolidation of June 11, 1888, the Soo Line issued $1,200 par value of its stock in exchange for an equal par value of the stock of this company, although the stock-certificate book of this company indicated that none of its stock was outstanding. No information concerning the discrepancy was obtained.
The Aberdeen, Bismarck and Northwestern Railway; The Ordway, Bismarck and Northwestern Railway
[edit]Introductory
This company was incorporated on June 1, 1883, under the provisions of chapter 46 of the public laws of the Territory of Dakota, approved February 18, 1879, for an unstated period, as The Ordway, Bismarck and Northwestern Railway Company. On June 1, 1887, its name was changed to The Aberdeen, Bismarck and Northwestern Railway Company. The company was controlled by the Northwestern Construction and Improvement Company, a Minnesota corporation, of which Thos. Lowry was president. It is pointed out that Thos. Lowry was associated with W. D. Washburn and others in the incorporation of The Minneapolis and Pacific Railway Company, another one of the companies consolidating on June 11, 1888, to form the Soo Line.
On June 11, 1888, the company was consolidated with The Minneapolis, Sault Ste. Marie and Atlantic Railway Company (of 1883), The Minneapolis and Pacific Railway Company, and The Minneapolis and St. Croix Railway Company to form the Soo Line. At the date of the consolidation, the company owned about 113 miles of graded roadbed and certain right of way between Aberdeen and Bismarck, in the then Territory of Dakota. The right of way was acquired and the grading was done by the construction company, between October, 1886, and May, 1888, on behalf of the railroad company.
The Minneapolis and Pacific Railway
[edit]Introductory
This company was incorporated under the general laws of Minnesota on September 4, 1884, by W. D. Washburn and Thomas Lowry, of Minneapolis, and their associates, and was controlled by them from its inception to June 11, 1888, when it was consolidated with The Minneapolis, Sault Ste. Marie and Atlantic Railway Company (of 1887); The Minneapolis and St. Croix Railway Company; and The Aberdeen, Bismarck and Northwestern Railway Company to form the Soo Line.
At date of consolidation the company owned and operated about 286 miles of single-track, standard-gauge railroad, extending from Minneapolis, Minn., to Boynton, in the Territory of Dakota, of which about 187 miles was situated within the State of Minnesota and 99 miles within the Territory of Dakota. The railroad was constructed mainly by Langdon and Company, contractors, of Minneapolis, Minn., on behalf of the railroad company, in 1886–87.
The Rice Lake, Dallas & Menominee Railway
[edit]Introductory
This company was incorporated under the provisions of chapter 87 of the annotated statutes of Wisconsin on February 9, 1893, for an unstated period. Insufficient records were obtainable from which to determine the ownership of its capital stock. On November 15, 1899, and October 1, 1900, all the property, rights, and franchises of the company were sold to the Soo Line, possession being given November 1, 1900. The property consisted of two lines of single-track railway. One of them, about 7 miles in length, constructed in 1894, extended from a connection with the railway of the Soo Line at Rice Lake, Wis., to Cameron, Wis. The other, about 18 miles in length, constructed in 1900, extended from a connection with the railway of the Soo Line at Barron, Wis., to Ridgeland, Wis.
Rice Lake & Northern Railway
[edit]This company was incorporated on March 12, 1901, under the provisions of chapter 87 of the revised statutes of Wisconsin, of 1898, for an unstated period. No general books of this company and but few records of any kind were found. For that reason very little information can be stated with respect to its affairs. The minutes show that all its capital stock was subscribed to by Geo. Tullen, of St. Paul, Minn., and Geo. M. Huss, of Chicago, Ill. Funds for the construction of the road were supplied by the Soo Line and charged to its own investment account, but such charges can not be identified therein from charges for the Soo Line's own property. Construction of the railroad was commenced in 1901 and continued until February 20, 1902, when its property, rights, and franchises were sold to the Soo Line. The property consisted of about 16 miles of railroad, extending from a connection with the Soo Line's road at Rice Lake to Birchwood, Wis.
Bismarck, Washburn and Great Falls Railway; Bismarck, Washburn and Fort Buford Railway
[edit]Introductory
This company was incorporated under the general laws of North Dakota on May 13, 1889, as the Bismarck, Washburn and Fort Buford Railway Company. Its period of existence was not stated. On January 10, 1900, its name was changed to Bismarck, Washburn and Great Falls Railway Company. All this company's stock, excepting 20 shares issued as directors' qualifying shares, was held by Wm. D. Washburn, of Minneapolis, Minn., but was pledged by him as security for a loan by the Soo Line to the company. On May 7, 1904, all the property, rights, and franchises of this company were sold to the Soo Line, possession being given on May 15, 1904. At the date of sale, the property consisted of about 58 miles of single-track railroad between Bismarck and Underwood, N. Dak. In addition to the railroad, the company owned two steamboats, one ferry boat, and two barges, which were operated on the Missouri River, but the exact location and extent of their operations are not known. All of the railroad was acquired by construction. Details with respect to the construction of this property are given in the chapter on development of fixed physical property of the Soo Line.
Superior, Balsam Lake and Southern Railway
[edit]This company was incorporated under the laws of Wisconsin on April 14, 1900, for an unstated period. The company did not construct any railroad. On May 1, 1901, it sold to the Soo Line all its right and title to construct a railroad between a point near Milltown, Polk County, Wis., and a point on the north boundary of Polk County, Wis. The records that were obtained disclose that the promotion expenses of this company, aggregating $6,881.77, were either paid or assumed by John H. Savage, secretary of the company. He was reimbursed by the Soo Line through its purchase of certain of this company’s rights. The company's authorized capital stock was $100,000. If any of it was issued, the consideration received therefor can not be ascertained. Some 14 of the shares were subscribed for by J. W. Park and 13 other citizens of Polk County, Wis.
Tony & North Eastern Railway
[edit]This company was incorporated on October 6, 1902, under chapter 87 of the revised statutes of Wisconsin of 1898, for an unstated period. Insufficient records were obtained from which to ascertain the ownership of its capital stock, although all of it, excepting one share, was subscribed for by John Hein, A. F. Hein, John Hein, Jr., and Peter Hein of Tony, Wis. Certain records in the possession of the Soo Line show that, on January 9, 1903, all of the property of this company, together with the rights and franchises appurtenant thereto, excepting only its rolling stock, were sold to the Soo Line. The property consisted of a railroad, extending from a connection with the railroad of the Soo Line at Tony, Wis., to a point about 2 miles northeasterly thereof. The road was constructed during the winter of 1902–1903 by the company. The rail and track fastenings used therein were furnished by the Soo Line, which retained title thereto. Immediately upon completion of the road, it was sold to the Soo Line for $6,602.90. No further information with respect to this company's activities was obtained.
Cuyuna Iron Range Railway
[edit]This company was incorporated on October 17, 1908, under chapter 58 of the revised statutes of Minnesota, of 1905, for a period of 999 years.
The property owned by this company was constructed by its own forces. Construction of the road was commenced in 1909 and was continued until March 4, 1910, when all the property, rights, and franchises, excepting only its franchise to be a corporation, were sold to the Soo Line. The property consisted of about 36 miles of uncompleted railroad, extending from a connection with the Soo Line's railroad near Lawler Junction, to Cuyuna, Minn.
Fairmount and Veblen Railway
[edit]Introductory
This company was incorporated under the laws of South Dakota of 1907 on December 18, 1912. By charter amendment, dated April 30, 1913, its period of existence was made indefinite. On January 30, 1915, all the property, rights, and franchises of the company, excepting its franchise to be a corporation, were sold to the Soo Line, possession being given July 1, 1915. On June 30, 1916, the date of valuation of the Soo Line, the company had not been formally dissolved, but its capital stock, which had been owned by the Soo Line, was canceled. The railroad consisted of about 87 miles of single main track, extending from a connection with the Soo Line's railroad at Fairmount, N. Dak., in a southwesterly direction to Grenville, S. Dak., together with about 8 miles of other tracks. This railroad was constructed under the Soo Line's supervision, by various independent contractors, in 1913–14.