Corporate Genealogy
Toledo Terminal Railroad

INTRODUCTORY

The carrier is a corporation of the State of Ohio, having its principal office at Toledo, Ohio. Although the carrier did not acquire title to its original property until December 4, 1907, it commenced recording the results of the operations of its property on November 1, 1907. The accounting data in this report, therefore, for the results of corporate operation cover the period from November 1, 1907.

The carrier is controlled by the Pere Marquette Railway Company; The Cincinnati, Hamilton and Dayton Railway Company; The Michigan Central Railroad Company; The New York Central Railroad Company; the Pennsylvania Company; the Grand Trunk Western Railway Company; the Toledo, St. Louis and Western Railroad Company; The Toledo and Ohio Central Railway Company; and the Hocking Valley Railway Company, herein referred to as the controlling companies, jointly through ownership of its entire outstanding capital stock. On the other hand, the records do not indicate that the carrier controls any common-carrier corporation.

The property of the carrier has been operated by its own organization during its entire life.

CORPORATE HISTORY

The carrier was incorporated December 4, 1907, under the general laws of Ohio, for the purpose of acquiring the property, rights, and franchises formerly owned by The Toledo Railway and Terminal Company, which was done. The date of organization was December 4, 1907.

The carrier acquired by deed dated December 4, 1907, the property, rights, and franchises of the predecessor company, which had been sold at foreclosure sale on May 28, 1907. The latter was incorporated February 12, 1901, under the general laws of the State of Ohio.

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The owned property of the carrier, comprising 31.214 miles of main-line railroad, 5.584 miles of second main track, 29.735 miles of yard tracks and sidings, a freight and passenger station, and certain other terminal facilities at Toledo, Ohio, was acquired partly by purchase after foreclosure proceedings, as previously explained, and partly by construction. The main-line mileage, 24.99 miles of yard tracks and sidings, the freight and passenger station, and certain other terminal facilities were constructed for The Toledo Railway and Terminal Company by The Toledo Railway and Terminal Construction Company during the years 1901, 1902, and 1903, and the entire line was opened for operation on October 1, 1903. The 5.584 miles of second main track and 5.122 miles of yard tracks and sidings were constructed by the carrier during 1914, the work being performed by its own forces.

In addition to the foregoing, the carrier owns jointly with the Pere Marquette Railway Company 0.166 mile of yard tracks and sidings. It could not be determined from the records reviewed how this mileage was acquired.

There is a difference of 0.056 mile between the mileage recorded by the carrier, 32.27 miles, and the mileage inventoried as of date of valuation, 31.214 miles.

LEASED RAILWAY PROPERTY

The carrier uses on date of valuation facilities owned by other companies and other companies use facilities owned by the carrier to the extent indicated in the statement below. The description of the property and the period and terms of use are as stated below. The rentals accrued and charged or credited to income for the year ending on date of valuation have not been ascertained.

Solely owned, but jointly used, used with--
      The Hocking Valley Railway Company--
      Tracks, 33 miles, between--
      Walbridge and Boulevard Station, Toledo; for indefinite period from Sept. 1, 1913; stipulated payment 4 1/2 cents per car-mile, with a minimum of $1.25 per train-mile.
Walbridge and Copeland, Toledo, Ohio; for indefinite period from Oct. 1, 1910; stipulated payment 4 1/2 cents per car-mile, with a minimum of $1.25 per train-mile.
Walbridge and Consaul Street, Toledo; for indefinite period from July 1, 1914; stipulated payment 4 1/2 cents per car-mile, with a minimum of $1.25 per train-mile.
Walbridge and Starr Avenue, Toledo, Ohio; term 25 years from Apr. 3, 1914; stipulated payment equal to interest at 2 1/2 per cent on valuation of $142,707.83, plus a proportion, on wheelage basis, of maintenance, operation, and taxes.
The Cincinnati, Hamilton and Dayton Railway Company--
Tracks, 39.6 miles, between Bates and Boulevard Station, Toledo; for indefinite period from Oct. 1, 1911; stipulated payment 4 1/2 cents per car-mile, with a minimum od $1.25 per train-mile.
The Toledo and Ohio Central Railway Company--
Tracks, 43.4 miles, between--
Stanley and Boulevard Station, Toledo; for indefinite period from Jan. 1, 1908; stipulated payment 4 1/2 cents per car-mile, with a minimum of $1.25 per train-mile.
Hickox and Walbridge, for passenger trains; for indefinite period from Nov. 1, 1907; stipulated payment $1 per train-mile.
The Cleveland, Cincinnati, Chicago and St. Louis Railway Company--
Tracks, 7.08 miles, between--
Walbridge and Stanley; for passenger trains; for indefinite period from Feb. 7, 1914; stipulated payment $1 per train-mile.
Stanley and Gould; for freight trains; for indefinite period from May 13, 1917; stipulated payment 4 1/2 cents per car-mile, with a minimum of $1.25 per train-mile.
Vandalia Railroad Company--
Tracks, 7.70 miles, from Gould to Walbridge, for freight service; for indefinite period from Mar. 1, 1915; stipulated payment 4 1/2 cents per car-mile, with a minimum of $1.25 per train-mile.
The Detroit and Toledo Shore Line Railroad Company--
This company uses all tracks of the carrier for switching purposes through arrangements made with the above-named companies, which perform all of the service incident to interchange of cars between The Detroit and Toledo Shore Line Company's tracks and tracks of the respective companies.
Solely owned, but not used, leased to--
The Michigan Central Railroad Company--
Land, 0.31 acre, at Toledo, for the construction of track for movement of locomotives and cars; for indefinite period from Jan. 1, 1915; stipulated payment $12 per annum.
Jointly used, but not owned, owned by--
The Wheeling and Lake Erie Railway Company--
Yard tracks and sidings, 1.5 miles, at Ironville, Toledo; term 99 years from May 23, 1916; stipulated payment equal to interest at 2 1/2 per cent per annum on valuaution of $30,592.93, plus one-half the cost of maintenance and taxes.

There are other facilities of minor importance, such as interlockers, yard tracks, and sidings, in which the carrier grants or receives joint use, that are not listed in this chapter.


Original data source: Valuation Reports Vol. 31 pp 870-871, 880-881
Interstate Commerce Commission
Washington, DC
July 1930

Although published in 1930, the report is "...as of date of valuation" which was 30 June, 1917


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