Wikipedia:WikiProject Trains/ICC valuations/Minneapolis Eastern Railway

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The Minneapolis Eastern Railway Company, herein called the carrier, owns a standard-gauge, steam, switching railroad located within the city limits of Minneapolis, Minn. The property consists of two separated sections, commonly referred to as the West Side and East Side lines, located on opposite sides of the Mississippi River, aggregating 1.329 miles of road. The property known as the West Side line is operated by the carrier and consists of 0.818 mile of main track, of which 0.251 mile is double tracked, extending from Second Avenue, North, to Eighth Avenue, South, together with freight yards and terminal facilities. The remaining property, known as the East Side line, is leased to and operated by the Great Northern Railway Company, and consists of 0.511 mile of double-tracked main line extending from Ninth Avenue, Southeast, to Third Avenue, Southeast, together with sidetracks serving the milling district. The carrier wholly owns 5.531 miles of all tracks, of which 3.206 miles are used by it and 2.325 miles are leased to the Great Northern Railway Company. These tracks are further classified in the trackage table in Appendix 1.

The carrier is controlled by the Chicago, Milwaukee and St. Paul Railway Company and the Chicago, Saint Paul, Minneapolis and Omaha Railway Company. Its principal business is switching between industries and connecting railroads.

The East Side line was operated by the Great Northern Railway Company from the date it was placed in operation to December 31, 1917. The West Side line was operated by this carrier's own organization from about May 31, 1879, the date construction was completed, until December 31, 1917. On January 1, 1918, the entire common-carrier property of the carrier was taken over for operation by the United States Railroad Administration, the East Side line as a part of the operating system of the Great Northern and the West Side line as a separate operating unit. The property is so operated on date of valuation.

CORPORATE HISTORY

The carrier was incorporated June 17, 1878, under the general laws of the State of Minnesota for the purpose of constructing a railroad and conducting a switching business.

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The 1.329 miles of first main line owned was acquired by construction. The West Side line, 0.818 mile was built during the period from October, 1878, to May, 1879; the East Side line, 0.511 mile, was built during the period from September, 1881, to April, 1882.

HISTORY OF CORPORATE FINANCING