Wikipedia:WikiProject Trains/ICC valuations/Iowa Transfer Railway

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The railroad of the Iowa Transfer Railway Company, hereinafter called the carrier, is a single-track standard-gauge steam railroad, located in Des Moines, Iowa, comprising 0.305 mile of first main track, and 3.093 miles of yard tracks and sidings. Its road thus embraces 3.398 miles of all tracks owned. The entire property of the carrier is used jointly by the seven companies named below as a transfer yard for the interchange of freight cars. The carrier is jointly controlled by the first five of these companies.

Chicago, Burlington & Quincy Railroad Company.
Chicago Great Western Railroad Company.
The Chicago, Rock Island and Pacific Railway Company.
Des Moines Union Railway Company.
Des Moines Western Railway Company.
Chicago and North Western Railway Company.
The Minneapolis & St. Louis Railroad Company.

The terms under which the property of the carrier is used by other carriers are shown in Appendix 2, under the caption Leased Railway Property.

CORPORATE HISTORY

The carrier was incorporated January 11, 1906, under the general laws of the State of Iowa. The purpose of its incorporation was to acquire railway property in and about Des Moines, Iowa, either by purchase, lease, or construction. The company was organized December 27, 1905.

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The railroad owned by the carrier was all acquired by construction as follows:

Main track October, 1906 0.210

Yard tracks and sidings do. 2.120

Do. April, 1910 .410

Do. August, 1910 .620

Do. May, 1917 .010

Total 3.370

Difference between total recorded mileage and mileage inventoried as of date of valuation .028

Mileage inventoried as of date of valuation 3.398

The records reviewed indicate that the property was constructed partly under contracts by independent contractors, by the company's own forces, and the Des Moines Union Railway Company.

HISTORY OF CORPORATE FINANCING