Wikipedia:WikiProject Trains/ICC valuations/Des Moines Union Railway

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The railroad operated by the Des Moines Union Railway Company, herein called the carrier, is a standard-gauge, steam operated, terminal and switching railroad, located in Des Moines, Iowa. The railroad, which is part single track and part double track, performs switching service for the wholesale and manufacturing district and also provides yards and terminal facilities for connecting railroads. The owned property includes 3.582 miles of first main track and large yards and terminal facilities.

The railroad of the Des Moines Terminal Company, which is leased to and operated by the carrier, is a double-track line located in the industrial district of Des Moines. It owns 0.935 mile of first main track and extensive yards.

In addition, the carrier has trackage rights over 3.23 miles of tracks at Des Moines, Iowa, owned by the Iowa Transfer Railway Company.

CORPORATE HISTORY

The carrier was incorporated December 10, 1884, under the general laws of the State of Iowa, for the purpose of owning and operating a railway in, around, and about the city of Des Moines, Iowa. Its incorporation was the result of an agreement dated January 2, 1882, between the Des Moines and St. Louis Railroad Company, the Des Moines Northwestern Railway Company, the St. Louis, Des Moines and Northern Railway Company, and certain individuals. Only a small part of the property of two of these companies, namely the Des Moines and St. Louis and the St. Louis, Des Moines and Northern, was acquired by the carrier, as shown in the chapter on development of fixed physical property; no physical property being acquired from the Des Moines Northwestern. Full information respecting these three companies wll[sic?] be found in the accounting report on the Wabash Railway Company, the successor to the property, rights and franchises of the Des Moines and St. Louis, and the accounting report on the Chicago, Milwaukee and St. Paul Railway Company, the successor to the property, rights, and franchises of the St. Louis, Des Moines and Northern and the Des Moines Northwestern.

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 the St. Louis, Des Moines and Northern, a predecessor of the Chicago, Milwaukee and St. Paul, Nov. 9, 1887, constructed by that company, that part of its railroad lying east of Farnham Street in Des Moines, Iowa 0.88

From the Des Moines and St. Louis, a predecessor of the Wabash Railway Company, Apr. 16, 1888, constructed by that company, that part of its railroad from the east city limits of Des Moines, Iowa, to Farnham Street in that city 2.49

Acquired by construction:

At Des Moines, Iowa, 1890 0.38

At Des Moines, Iowa, 1902 0.33

At Des Moines, Iowa, 1904 0.15

Total recorded mileage 4.23

Difference between total recorded mileage and mileage inventoried as of date of valuation 0.648

Mileage inventoried as of date of valuation 3.582

HISTORY OF CORPORATE FINANCING

CORPORATE HISTORY

The Des Moines Terminal Company was incorporated June 6, 1902, under the general laws of the State of Iowa, for the purpose of acquiring railways or railroad property in and about the city of Des Moines, Iowa, by purchase, lease, or construction.

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The owned mileage, 0.935 mile, was all acquired by construction during the period from 1903 to 1907, part of which was placed in operation in 1905.

HISTORY OF CORPORATE FINANCING