Wikipedia:WikiProject Trains/ICC valuations/Minnesota and Ontario Bridge Company
Interstate Commerce Commission, Valuation Reports, Volume 141
The Minnesota and Ontario Bridge Company
[edit]Location and General Description of Property
[edit]The property of The Minnesota and Ontario Bridge Company, herein called the Minnesota and Ontario, consists of a railroad bridge over the Rainy River, located in the State of Minnesota and the Province of Ontario. The bridge extends from a connection with the Minnesota and Manitoba's tracks at Baudette, Minn., to a connection with the carrier's tracks on the Canadian side of the river, a distance of 0.204 mile. The entire common-carrier property of this company is leased to and operated by the carrier, but only that portion of the railroad bridge which is located in the United States, 0.102 mile, is included in the reproduction and value figures shown in this report.
Introductory
[edit]The Minnesota and Ontario is a corporation of the State of Minnesota, having its corporate office at Minneapolis, Minn., and its general administrative office at Toronto, Ontario, Canada. Its accounting records were not obtained. Therefore, no information can be given from the accounts regarding financial dealings, corporate operations, or investments. However, certain data indicated below were obtained from its articles of incorporation and other sources. The company is controlled by the carrier through ownership of the entire outstanding capital stock. On the other hand, the records reviewed do not indicate that it controls any common-carrier corporation. The records reviewed indicate that the property has always been operated by the carrier. The Minnesota and Ontario has not filed any annual reports with us.
Corporate History
[edit]The Minnesota and Ontario was incorporated December 21, 1899, under the general laws of the State of Minnesota. By an act of Congress, approved March 9, 1900, the company was authorized and empowered to construct and maintain a bridge over Rainy River at or near a point known as Cathcarts Point in the State of Minnesota.
Development of Fixed Physical Property
[edit]The entire property was acquired by construction during the year 1901. The construction work was performed by MacKenzie, Mann & Company, Limited, of Toronto, Ontario, Canada, affiliated contractor.
Leased Railway Property
[edit]The entire property is leased to the carrier for a term of 99 years from 1901 at a stipulated rental equal to the interest on first-mortgage bonds of the lessor.