Wikipedia:WikiProject Trains/ICC valuations/Escanaba and Lake Superior Railroad

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The railroad of the Escanaba and Lake Superior Railroad Company, hereinafter called the carrier, is a single-track standard-gauge steam railroad, located in the northern peninsula of Michigan. The main line extends northwesterly from Wells to Channing, a distance of 62.836 miles, and the branch lines extend from Flat Rock to Escanaba and from Northland to Kates, aggregating 80.904 miles of first main track. The carrier also owns 70.830 miles of yard tracks and sidings. Its road thus embraces 151.734 miles of all tracks owned and used. The carrier is an industrial railroad. Most of its revenue tonnage consists of forest products, and one of the principal industries served is the Escanaba River Company, a lumber company controlled by the same interests that control the carrier.

CORPORATE HISTORY

The carrier was incorporated February 12, 1900, under the general laws of the State of Michigan for the stated purpose of constructing and operating a railroad extending from Escanaba to a point in Dickinson County, about 70 miles, all in the State of Michigan. The date of organization of the carrier was February 20, 1900. Pursuant to the above-mentioned purpose, the carrier acquired on April 1, 1901, the property, rights, and franchises of the Escanaba & Lake Superior Railway. The Escanaba & Lake Superior Railway was incorporated December 5, 1898, under the general laws of the State of Michigan for the stated purpose of constructing and operating a railroad from Escanaba to a point on the shore of Little Bay de Nocquet, about 60 miles, all in the State of Michigan.

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The owned mileage of the carrier, amounting to 80.904 miles, was acquired partly by purchase and partly by construction, as indicated below:

Acquired by purchase on Apr. 1, 1901:

From the Escanaba & Lake Superior Railway, constructed by the Escanaba River Company—

Wells to Watson, Mich., 1898-99 31.00

Ford River branch, 1899 8.72

From the Escanaba River Company, physical property only, constructed by the Escanaba River Company—

Watson to Channing, Mich., 1900-1901 31.81

Northland to Escanaba River, Mich., 1901-2 10.90

82.43

Acquired by construction:

From Escanaba River to Kates, Mich., 1902-3 3.28

From Flat Rock to Escanaba, Mich., 1902 3.89

7.17

Total of above 89.60

Abandoned, Ford River branch, 1910 8.72

Total 80.88

Difference between recorded mileage and mileage inventoried as of date of valuation .024

Mileage inventoried as of date of valuation 80.904

HISTORY OF CORPORATE FINANCING