The carrier is a corporation of the State of Michigan, having its principal office at St. Ignace, Mich. While the present name of the carrier is that given above, it was incorporated originally as the Mackinac Transportation Company, which was later changed to The Mackinac Transportation Company. It is controlled, through equal ownership of its entire capital stock, by The Duluth, South Shore & Atlantic Railway Company, the Grand Rapids & Indiana Railway Company, and The Michigan Central Railroad Company. On the other hand, the carrier, itself, does not control any other common-carrier corporations. The carrier operated its property with its own organization from the date operations were commenced to December 31, 1917. On January 1, 1918, its common-carrier property was taken over for operation by the United States Railroad Administration, which is still operating it on date of valuation. The property has always been operated for the principal purpose of providing car-ferry service for the controlling companies.
The carrier was incorporated October 12, 1881, under the general laws of the State of Michigan, as the Mackinac Transportation Company for the purpose of engaging in the business of maritime commerce or navigation within the State of Michigan, or upon the frontier lakes or other navigable waters connected therewith, and acquiring by purchase or construction, boats, docks, and other property. On October 10, 1911, upon expiration by limitation of its charter, the company was reincorporated for another period of 30 years, in the State of Michigan, changing the name to The Mackinac Transportation Company.
The common-carrier property owned by this company on date of valuation, comprising two car-ferry steamers, was constructed by The Toledo Ship Building Company.
The property of the carrier has always been operated for the principal purpose of supplying car-ferry service for the controlling companies. The operating arrangements in effect on December 31, 1917, which have been continued by the United States Railroad Administration, are indicated below.
The carrier pays all of its operating expenses, and collects all revenues for service performed except for through freight handled for the controlling companies. Its net operating deficits, exclusive of charges for depreciation, are billed monthly against the controlling companies on the basis of the through freight traffic handled for them, and bond-interest accruals and depreciation charges are billed in equal amounts against the controlling companies. The carrier has joint use of the docks at Mackinaw City, Mich., owned by The Michigan Central Railroad Company, and also of the docks at St. Ignace, Mich., owned by The Duluth, South Shore & Atlantic Railway Company. There are no written agreements covering their use.
|Original data source:||Decisions of the Interstate Commerce Commission Vol. 116 pp 593, 599|
Interstate Commerce Commission
Although published in 1926, the report is "...as of date of valuation" which was 30 June, 1918