Wikipedia:WikiProject Trains/ICC valuations/Electric Short Line Terminal Company

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The railroad of the Electric Short Line Terminal Company, herein called the carrier, is a standard-gauge, steam-operated, terminal railroad, located in Minnesota. The main line extends southeasterly from Luce Line Junction to Seventh Street and Second Avenue North, Minneapolis, 3.336 miles, of which 3.056 miles is double track. The carrier also owns 4.159 miles of yard tracks and sidings. Its road thus embraces 10.551 miles of all tracks owned and used. The property comprises a connecting track and terminal facilities and is used jointly under trackage-rights agreements by the Electric Short Line Railway and the Minneapolis, Northfield and Southern Railway. The carrier maintains its property for the benefit of the two other carriers, but does not operate any trains.

CORPORATE HISTORY

The carrier was incorporated August 7, 1908, under the general laws of the State of Minnesota as the Electric Short Line Railroad Company, for the purpose of conducting transportation business. The name was changed May 6, 1915. The date of organization was August 10, 1908.

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The available records of the carrier indicate that its owned mileage was acquired in part by construction and in part as a consideration in a trackage agreement. Data obtained from minute records indicate that prior to 1912 the Phoenix Loan & Investment Company, an affiliated corporation controlled by the Luce interests, constructed for account of this company about 8 miles of road and partially constructed 25 miles of road west of Minneapolis, all of which was sold to the Electric Short Line Railway. The records reviewed indicate that the railroad owned on date of valuation, consisting of 3,336[sic] miles of main line and 4.159 miles of yard tracks and sidings, extending from Luce Line Junction to Seventh Street and Second Avenue, North, Minneapolis, Minn., was constructed originally in 1913, as a single-track line by the Phoenix Loan & Investment Company acting as agent for this company and was acquired, together with certain miscellaneous physical property, in consideration for the entire issue of capital stock of the carrier. In 1914, the Minneapolis, St. Paul, Rochester and Dubuque Electric Traction Company, in part consideration for trackage rights into Minneapolis, over tracks of this company, constructed the second mainline track, 3.056 miles, which was completed about July 30, 1915.

HISTORY OF CORPORATE FINANCING