Wikipedia:WikiProject Trains/ICC valuations/Dubuque and Sioux City Railroad

Interstate Commerce Commission, Valuation Reports, Volume 46

Dubuque and Sioux City Railroad

Location and General Description of Property

The railroad of Dubuque and Sioux City Railroad Company, hereinafter called the Dubuque and Sioux City, is a single-track line located in the States of Iowa, Minnesota, and South Dakota. The main line extends from Dubuque to Sioux City, Iowa. Branch lines extend to Council Bluffs, Iowa, Sioux Falls, S. Dak., and other cities. The Dubuque and Sioux City wholly owns but does not use 760.902 miles of road.

Introductory

The Dubuque and Sioux City is a corporation of the State of Iowa, having its principal office at Chicago, Ill.

The Dubuque and Sioux City is controlled by the Illinois Central through stock ownership. On the other hand, the records do not indicate that this company, itself, controls any common-carrier corporation.

The property of the Dubuque and Sioux City has been operated by the Illinois Central continuously since October 1, 1867, with the exception of the period between October 1, 1887, and March 15, 1888.

Corporate History

The Dubuque and Sioux City was incorporated August 13, 1860, under the general laws of Iowa for the purpose of acquiring all the property, rights, and franchises of The Dubuque and Pacific Rail Road Company and of completing construction. The corporate history of the Dubuque and Sioux City involves 10 predecessor companies.

The respective dates of incorporation, and for each predecessor the date of succession, the immediately succeeding corporation, and the manner of succession, follow.

No.	Name	Incorporation	Succession
1.	The Dubuque and Pacific Rail Road Company.	Incorporated under general laws of Iowa, May 19, 1853.	Sold at foreclosure to the Dubuque and Sioux City, August 21, 1860.
2.	Iowa Falls and Sioux City Railroad Company.	Incorporated under general laws of Iowa, October 1, 1867.	Conveyed to the Dubuque and Sioux City, October 23, 1888.
3.	Cedar Rapids & Chicago Railroad Company.	Incorporated under general laws of Iowa, September 24, 1886.	Conveyed to the Dubuque and Sioux City, October 27, 1888.
4.	Cherokee & Dakota Railroad Company.	Incorporated under general laws of Iowa, July 15, 1887.	Conveyed to the Dubuque and Sioux City, October 29, 1888.
5.	Cedar Falls and Minnesota Rail Road Company.	Incorporated under general laws of Iowa, August 20, 1858.	Sold at foreclosure June 1, 1896. Acquired by the Dubuque and Sioux City, June 15, 1896.
6.	Fort Dodge and Omaha Railroad Company.	Incorporated under general laws of Iowa, September 14, 1898.	Conveyed to the Dubuque and Sioux City, June 22, 1900.
7.	Stacyville Railroad Company.	Incorporated under general laws of Iowa, October 14, 1897.	Conveyed to the Dubuque and Sioux City, April 6, 1903.
8.	Albert Lea and Southern Railroad Company.	Incorporated under general laws of Minnesota, September 23, 1899.	Conveyed to the Dubuque and Sioux City, April 20, 1908.
9.	Cedar Falls & New Hartford Railroad Company.	Incorporated under general laws of Iowa, January 6, 1903.	Conveyed to the Dubuque and Sioux City, June 30, 1904.
10.	Cedar Falls and North Eastern Rail Road Company.	Incorporated under general laws of Iowa, August 30, 1904.	Conveyed to the Dubuque and Sioux City, May 4, 1905.

Development of Fixed Physical Property

The recorded mileage of the Dubuque and Sioux City amounts to 760.98 miles, which was acquired partly by construction, partly by purchase, and partly through reorganization. The inventoried mileage is 760.902.

The data with respect to the road constructed by the Dubuque and Sioux City and by each of its predecessors, and the years in which various portions of the line were constructed are given In the accounting report.

Immediately after acquiring the property of The Dubuque and Pacific Railroad Company, construction work started on the line west of Jesup, Iowa, and was completed to Cedar Falls, Iowa, in 1861, and to Iowa Falls, Iowa, in 1866, making a continuous line of road westerly from Dubuque, Iowa. The operated mileage was further increased during the period from 1866 to 1870 by leasing the property of the Cedar Falls & New Hartford Railroad Company. Development of the property west of Iowa Falls, Iowa, undertaken by the Dubuque and Sioux City, was suspended after an expenditure of $202,964.97, and Iowa Falls and Sioux City Railroad Company was organized to complete the extension of the road to the Missouri River. Upon completion of construction of the Iowa Falls and Sioux City Railroad Company in 1870, the Illinois Central operated the line under lease to October 23, 1888, when it was conveyed to the Dubuque and Sioux City.

The roads of other companies acquired, were developed in the interest of the Dubuque and Sioux City and the Illinois Central.

In February 1903 the Dubuque and Sioux City acquired terminal property at Council Bluffs, Iowa, from the Omaha Bridge and Terminal. On the same date that company granted to the Dubuque and Sioux City the right to use its bridge over the Missouri River, and tracks and other facilities in Omaha, Nebr. The rights thus acquired were assigned to the Illinois Central.

Leased Railway Property

The property of the Dubuque and Sioux City has been operated by the Illinois Central under several leases continuously since October 1, 1867, with the exception of the short period between October 1, 1887, and March 15, 1888. The lease under which the property is now operated is dated July 1, 1904, and expires on August 1, 1951. As rental consideration the Illinois Central pays all interest on the funded debt of the lessor and all taxes, maintenance, and expense of operation, and turns over to the lessor any surplus earnings after providing for sinking fund for the retirement of funded debt. The Dubuque and Sioux City agrees to reimburse the lessee under the terms of the lease for all additions and betterments and new construction.

Predecessor Companies

The Dubuque and Pacific Rail Road

This company was incorporated May 19, 1853, under the general laws of Iowa. The property owned on date of sale consisted of a single-track, standard gage railroad, extending from Dubuque to Jesup, Iowa, about 78 miles.

The first division, Dubuque to Dyersville, Iowa, about 29 miles, was completed in May 1857, and the second division, Dyersville to Jesup, Iowa, about 49 miles, was completed in March 1860. The first division was constructed by R. B. Mason & Company, and the second division by Oliver P. Root, both independent contractors. The available records do not show that the road was opened for operation during the company's existence.

Iowa Falls and Sioux City Railroad

This company was incorporated October 1, 1867, in Iowa. It was controlled by the Illinois Central on October 23, 1888, the date of sale, through ownership of a majority of its capital stock. It owned, on date of sale, 183.57 miles of single-track, standard-gage railroad, from Iowa Falls to Sioux City, Iowa. The property was operated under lease by the Illinois Central as an extension of the road of the Dubuque and Sioux City, from Dubuque to Iowa Falls, Iowa, which was also leased to the Illinois Central.

The road owned was acquired January 7, 1868, from the Dubuque and Sioux City in a partially constructed condition and completed by this company. The portion from Iowa Falls to Fort Dodge, about 49 miles, was completed in August 1869 and the portion from Fort Dodge to Sioux City, about 135 miles, in October 1870.

Cedar Rapids & Chicago Railroad

This company was incorporated September 24, 1886, in Iowa. It was controlled by the Illinois Central on October 27, 1888, the date of sale, through ownership of all capital stock. Its property consisted of a single-track, standard-gage railroad from Cedar Rapids to Manchester, Iowa, 41.83 miles, to connection with the Dubuque and Sioux City. The property was operated under lease by the Illinois Central.

The road owned on date of sale was acquired by construction. Work was begun July 25, 1887, and completed January 30, 1888, by company's forces.

Cherokee & Dakota Railroad

This company was incorporated July 15, 1887, in Iowa. It was controlled by the Illinois Central on the date of sale through ownership of a majority of its capital stock. It owned on date of sale about 155 miles of single-track, standard-gage railroad, from Cherokee, Iowa, to Onawa, Iowa, and from Cherokee to Sioux Falls, S. Dak. The property of the company was operated by the Illinois Central from April to October 1888, at which time the property was conveyed to the Dubuque and Sioux City.

The road owned was acquired by construction. The line, Cherokee to Onawa, Iowa, about 59 miles, was completed December 19, 1887, and placed in operation July 1, 1888. The line, Cherokee to Sioux Falls, S. Dak., about 96 miles, was completed in February 1888.

Cedar Falls and Minnesota Rail Road

This company was incorporated August 20, 1858, in Iowa. The company owned, on date of sale, 76.72 miles of single-track, standard-gage railroad, extending from Mona Junction, near Cedar Falls, Iowa, to Lyle, Minn., to the Iowa-Minnesota State line.

Sale of the property to the Dubuque and Sioux City followed foreclosure of mortgage securing second-mortgage 7 percent construction bonds, all owned by the Illinois Central. The foreclosure resulted from litigation respecting lease of the property to the Dubuque and Sioux City for 40 years from January 1, 1867. The Illinois Central assumed the obligations of that lease for 20 years from October 1, 1867, and at the expiration thereof suit was brought to compel it to continue the lease for the remaining period granted the Dubuque and Sioux City. The property was operated by the Dubuque and Sioux City under lease from January 1, 1867, to September 30, 1887, and from October 1, 1887, to date of sale, June 15, 1896, by the Illinois Central, under court order. Rental during the period of litigation, aggregating $1,035,605,37, held awaiting decree, was ordered paid to the company in December 1895.

The road owned on date of sale was acquired by construction by contract and company forces. Details with respect to construction are given in the accounting report.

Fort Dodge and Omaha Railroad

This company was incorporated September 14, 1898, in Iowa. It was controlled on June 22, 1900, the date of sale, by the Mississippi Valley Company, an affiliated interest of the Illinois Central, through ownership of its entire capital stock. The company owned, on date of sale, 131.05 miles of single track, standard-gage railroad, extending from Tara to Council Bluffs, Iowa. The property was operated by the Illinois Central, as agent, from January to June 22, 1900, the date of sale to the Dubuque and Sioux City.

The road owned on date of sale was constructed by the company's forces, from September 1898 to January 1900.

Stacyville Railroad

This company was incorporated October 14, 1867, in Iowa. It was controlled on April 6, 1903, the date of sale, by the Illinois Central through ownership of capital stock. The company owned on date of sale 7.93 miles of single-track, standard-gage railroad, extending from Stacyville Junction, to Stacyville, Iowa. The property was operated under lease by the Illinois Central as a branch line of the Dubuque and Sioux City.

The road owned on date of sale was constructed by forces of the Illinois Central and completed in November 1897.

Albert Lea and Southern Railroad

This company was incorporated September 23, 1899, in Minnesota. It was controlled on April 6, 1903, the date of sale, by the Illinois Central through ownership of capital stock. The company owned on date of sale, 18.78 miles of single-track, standard-gage railroad, extending from a connection with the Dubuque and Sioux City at the Iowa-Minnesota State line to Glenville, Minn. The property was operated under lease by the Illinois Central as a branch road of the Dubuque and Sioux City.

The road owned on date of sale was constructed by the company's forces and completed in November 1900.

Cedar Falls & New Hartford Railroad

This company was incorporated January 6, 1903, in Iowa. It was controlled on June 30, 1904, the date of sale, by the Illinois Central through ownership of its capital stock. The company owned on date of sale, 6.57 miles of single track, standard-gage railroad, extending from Cedar Falls to Boyd, Iowa.

The road owned was constructed by forces of the Illinois Central and completed June 21, 1904.

Cedar Falls and North Eastern Rail Road

This company was incorporated August 30, 1904, in Iowa. It was controlled on May 4, 1905, the date of sale, by the Illinois Central through ownership of its capital stock. The company owned on date of sale 1.55 miles of single track, standard-gage railroad, extending from Cedar Falls to a point between Mona Junction and Janesville, Iowa.

The road owned was constructed by forces of the Illinois Central. It was opened for operation in November 1904, and for a short period the property was operated under implied lease by the Dubuque and Sioux City.