Wikipedia:WikiProject Trains/ICC valuations/St. Louis Transfer Railway

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Valuation Docket No. 1042

St. Louis Transfer Railway Company

Location and general description of property.—The railroad operated by the St. Louis Transfer Railway Company, herein called the Transfer Railway, is a standard-gage, steam switching railroad, located within the city limits of St. Louis, Mo. The owned property consists of only yard tracks and sidings, equipment, and other facilities. The main line, consisting of 6.084 miles of first main track and 1.617 miles of second main track and extending from Arsenal to Ferry Streets, is owned by and leased from the city of St. Louis.

The Transfer Railway wholly owns and uses 6.507 miles of all tracks, jointly owns and uses an undivided interest in 0.910 mile of all tracks, wholly uses but does not own 23.607 miles of all tracks, and jointly uses but does not own an undivided interest in 0.597 mile of all tracks. These tracks, consisting of first and second main tracks and yard tracks and sidings, are classified in the trackage table in Appendix 1.

In addition, the Transfer Railway has trackage rights over the roads of other carriers, the details of which are given in the chapter on leased railway property in Appendix 2.

The Transfer Railway is controlled by the Wiggins Ferry Company, which in turn is controlled by the Terminal Railroad Association of St. Louis. The lines owned or controlled by the Terminal Railroad Association of St. Louis provide switching and terminal facilities in the St. Louis district.

APPENDIX 2

TRANSFER RAILWAY

INTRODUCTORY

The Transfer Railway is a corporation of the State of Missouri, having its principal office at St. Louis, Mo. The Transfer Railway is directly controlled by the Wiggins Ferry Company through ownership of the entire outstanding capital stock, and is indirectly controlled by the Terminal Railroad Association of St. Louis, which owns the entire outstanding capital stock of the Wiggins Ferry Company. On the other hand, the records reviewed do not indicate that this company controls any common-carrier corporation. The property of this company was operated by its own organization from June 30, 1889, to December 31, 1917, and from January 1, 1918, to date of valuation it has been operated by the United States Railroad Administration.

CORPORATE HISTORY

The Transfer Railway was incorporated June 25, 1884, under the general laws of the State of Missouri, for the purpose of constructing and operating a railway to commence at a point of connection with the St. Louis, Iron Mountain and Southern Railway (now the Missouri Pacific Railroad Company) at Arsenal Street, and extend north a distance of about 6 miles on a line parallel with the Mississippi River.

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The city of St. Louis, by an ordinance approved June 11, 1884, granted the Transfer Railway the right, for a period of 30 years, to construct and operate its railroad on private right of way, city streets, alleys, wharves, and the levee, from Arsenal Street north to Ferry Street, about 6 miles, for a consideration of $1,000 per annum.

Under authority of the above ordinance, the Transfer Railway, with its own forces and those of the Wiggins Ferry Company, constructed about 6 miles of main line, extending from Arsenal Street on the south, thence through city blocks, across intersecting streets and alleys, and along the Mississippi River levee, to Ferry Street on the north. It also constructed about 4 miles of second main track and about 3 miles of yard tracks and sidings. Its main line was completed in June, 1889.

Under the terms of an ordinance of the city of St. Louis, approved April 17, 1917, the Transfer Railway conveyed to the city of St. Louis all of its first and second main line tracks, and 0.37 mile of sidetrack, including whatever right of way it owned on which those tracks were located. In consideration of such conveyance, the city of St. Louis, by an additional ordinance, granted to the Terminal Railroad Association of St. Louis certain rights upon other streets and alleys in the city. The property conveyed to the city of St. Louis is, under the provisions of the ordinance, leased to the Transfer Railway for an annual rental of $30,000.

The railroad owned by the Transfer Railway on date of valuation consists of 6.507 miles of yard tracks and sidings.

HISTORY OF CORPORATE FINANCING

year ending December 31, 1917, are as follows:

Solely owned, but jointly used, used with—

St. Louis Merchants Bridge Terminal Railway Company, Chicago, Burlington & Quincy Railroad Company, yard and sidetracks, no written agreement, proportion of maintenance, operation, and taxes on car basis—

Chicago, Burlington & Quincy Railroad Company $42.57

St. Louis Merchants Bridge Terminal Railway Company 644.80

St. Louis Merchants Bridge Terminal Railway Company, Hall Street tracks, no written agreement, annual payment 4, 819.50

Jointly used, but not owned, owned by—

Chicago, Burlington & Quincy Railroad Company, yard and sidetracks, no written agreement, annual payment 842.40

Illinois Transfer Railroad Company, various yard and sidetracks, no written agreement, proportion of maintenance, operation, and taxes on car basis 7,025.99

St. Louis Merchants Bridge Terminal Railway Company—

Various yard and sidetracks, no written agreement, proportion of maintenance, operation, and taxes on car basis 66,360.48

Hall Street tracks, no written agreement, annual payment 850.50

Wiggins Ferry Company and Wabash Railway Company, tracks 0.597 mile, near Ashley and Lewis Streets, St. Louis, Mo., basis of use not obtained

Solely used, but not owned, owned by—

City of St. Louis, Mo., railroad extending from Arsenal Street to Ferry Street, 6.084 miles of main track, and 4.128 miles of other tracks; for an indefinite period from Apr. 17, 1917, maintenance, operation, and taxes, stipulated annual payment to the city of $30,000 17,500.00

Wiggins Ferry Company, yard and sidetracks at St. Louis, about 13.264 track miles, no written agreement, maintenance, operation, and taxes, rental on basis of cars handled 114,342.39

Margaretha Heinrich, tracks 0.131 mile on public wharf, basis of use not obtained

GENERAL BALANCE SHEET STATEMENTS