Wikipedia:WikiProject Trains/ICC valuations/Niagara River Bridge Company
Interstate Commerce Commission, Valuation Reports, Volume 28
The Niagara River Bridge Company
[edit]Location and General Description of Property
[edit]The property of The Niagara River Bridge Company likewise leased to and operated by the Michigan Central, consisting of a bridge property at Suspension Bridge, N.Y., and including 0.310 mile of first main track of which 0.154 mile is located in the United States and included in this report.
Introductory
[edit]The Niagara River Bridge Company is a corporation of the State of New York and the Dominion of Canada, having its principal office at New York, N.Y. It is controlled by the Canada Southern Railway Company through ownership of the entire outstanding capital stock. On the other hand, the records do not indicate that this company, itself, controls any common-carrier corporation.
The property of The Niagara River Bridge Company was operated by the Canada Southern Railway Company from the date it was placed in operation until January 1, 1904. From that date until December 31, 1917, it was operated by the Michigan Central under the latter's lease of the properties of the Canada Southern Railway Company and its controlled companies. On January 1, 1918, all the property of The Niagara River Bridge Company, under contract with the Michigan Central, was taken over for operation by the United States Railroad Administration, which operates it on date of valuation.
Corporate History
[edit]The Niagara River Bridge Company was incorporated April 10, 1883, under the general laws of the State of New York and the Dominion of Canada, for the purpose of consolidating the property, rights, and franchises of the Niagara River Bridge Company (of New York) and the Niagara Peninsula Bridge Company, a Canadian corporation. Pursuant to the above purpose, The Niagara River Bridge Company acquired at its organization the property, rights, and franchises of the two companies named. The Niagara River Bridge Company, itself, and those corporations total three different corporations and comprise the line of corporate succession culminating in the Niagara River Bridge Company as at present constituted. The following chart shows the names of the corporations, the respective dates of incorporation, and for each predecessor the date of succession, the immediately succeeding corporation and the manner of succession. Reference to each of these corporations is made in the last column by its respective number shown in the first column.
| No. | Name | Incorporation | Succession |
|---|---|---|---|
| 1 | The Niagara River Bridge Company. | Under general laws of New York, through articles of consolidation, Apr. 10, 1883, and under special act of the Parliament of Canada, May 9, 1883. | |
| 2 | Niagara River Bridge Company (of New York). | Under special act of New York, July 13, 1881. | Consolidated Apr. 10, 1883, with 3 to form 1. |
| 3 | Niagara Peninsula Bridge Company. | Under special act of Parliament of Canada, May 17, 1882. | Consolidated Apr. 10, 1883, with 2 to form 1. |
The date of organization of The Niagara River Bridge Company has not been ascertainable from the records reviewed.
Development of Fixed Physical Property
[edit]The owned mileage of the Niagara River Bridge Company, extending from Suspension Bridge, N.Y., over the Niagara River, to Niagara Falls, Ontario, a distance of 0.310 mile, was acquired by construction during 1883. The construction work on the cantilever bridge was performed by the Central Bridge Company, contractor. The remainder of the work was performed by the forces of The Niagara River Bridge Company. The Central Bridge Company was organized for the purpose of constructing the bridge in the interests of the Canada Southern Railway Company, which owned practically all of the capital stock of The Niagara River Bridge Company and the Central Bridge Company.
Leased Railway Property
[edit]The entire property of The Niagara River Bridge Company is leased to the Michigan Central for a term of 999 years from January 1, 1904. The terms of the lease are given in the chapter on leased railway property in the report on the Michigan Central.