(Page 1.) ANNUAL REPORT OF THE Burlington, Cedar Rapids & Northern Railway Company, FOR THE YEAR ENDING JUNE 30, 1891. (Page 3.) HISTORY. 1. Name of common carrier making this report? Burlington, Cedar Rapids & Northern Railway Company. 2. Date of organization? June 22, 1876. (See question 6.) 3. Under laws of what government, state or territory organized? If more than one, name all; give reference to each statute and all amendments thereof. In Iowa, under the provisions of title 9, chapter 1, code of Iowa, adopted in 1873; reorganized June, 1876. Articles of incorporation filed June 22, 1876. In Minnesota, under the general laws of the state. cles of incorporation filed May 26, 1882, and amended July 17, 1884. Arti In South Dakota. under the general laws of the United States of America, Territory of Dakota. Articles of incorporation filed July 5, 1884; filed again under the laws of South Dakota, July 31, 1890. 4. If a consolidated company, name the constituent companies. Give reference to charters of each, and all amendments of same. The Burlington, Cedar Rapids & Northern Railway Company was organized in 1875, and by lease acquired, from time to time, the Iowa City & Western, the Cedar Rapids, Iowa Falls & Northwestern, the Cedar Rapids & Clinton and the Chicago, Decorah & Minnesota railways, having in all the above railways a majority of the stock to control the leased fines, and guaranteeing the principal and interest of their bonded indebtedness. bonded indebtedness of the above lines has in part been consolidated, and in due time, the entire consolidation will be accomplished. The 5. Date and authority for each consolidation? The Burlington, Cedar Rapids & Minnesota railway, June 30, 1868, chapter 52, code of Iowa. The Burlington, Cedar Rapids & Northern railway June 22, 1876, title 9, chapter 1, code of Iowa. 6. If a reorganized company, give name of original corporation, and refer to the laws under which it was organized? The Burlington, Cedar Rapids & Northern railway is a reorganized company, created by the foreclosure and purchase of the B., C. R. & Minn. railway, a corporation formed by the consolidation of the Cedar Rapids & Burlington and the Cedar Rapids & St. Paul railways, June 30, 1868. The articles of incorporation of the said Burlington, Cedar Rapids & Minnesota railway, existing under the provisions of chapter 52, code of Iowa, were filed for record, March 27, 1871; February 27, 1872, and as amended June 22, 1873. Total number of stockholders at date of last election-342. Date of last meeting of stockholders for election of directors-May 26, 1891. Give post office address of general office-Cedar Rapids, Iowa. Give post office address of operating office-Cedar Rapids, Iowa. (Page 9.) PROPERTY OPERATED. [FOR ROADS MAKING OPERATING REPORTS.] Name of every Railroad the Operations of which are Included in the Income Account-Page 31. In giving roads, observe the following classification and order: 1. Railroad line represented by capital stock. A. Main line. B. Branch and spurs. 2. Proprietary companies whose entire capital stock is owned by this company. 3. Line operated under for specified sum. 4. Line operated under contract, or where the rental is contingent upon earnings or other considerations. The length of the main line operated by the B., C. R. & N. Ry. is 253.21 miles, of which 211.82 miles are owned, viz., 229.25 miles of the B., C. R. & N. Ry. and 12.57 leased perpetually from the M. & St. L. Ry., which are considered to be owned by this company. In addition to the 241.82 miles we have leased from the Iowa Central Ry. 11.39 miles, being the distance from Manly Junction to Northwood, Iowa. These, together with the 241.82 miles owned, from the main line from Burlington, Iowa, to Albert Lea, Minn. (Page 15.) PROPERTY LEASED, OR OTHERWISE ASSIGNED FOR OPERA TION. [FOR ROADS NOT MAKING OPERATING REPORTS; OR SUBSIDIARY OPERATING ROADS.] Give here a full explanation of the contract existing between road (or roads) mentioned on page 13, and the company by which it is operated. In the case of a subsidary company making an operating report, its mileage will of course appear on page 9. THIS DUPLICATE LEASE AND AGREEMENT made this 3d day of December, A. D. 1890, by and between the Davenport, Iowa & Dakota Railroad Company, a corporation existing under the laws of the state of Iowa, of the first part, and the Burlington, Cedar Rapids & Northern Railway Company, a corporation existing under the laws of the state of Iowa of the second part, WITNESSETH: That the said first party for and in consideration of the agreements by the second party as hereinafter specified and the covenants herein contained, has leased, and by these presents doth grant, demise and lease unto the second party, its successors and assigns, all of the railroad of the first party extending from the east line of Brady street in the city of Davenport, Scott county, Iowa, to the junction of said line of railroad with the Cedar Rapids & Clinton Railroad, together with all the rights of the first party in and to the grounds granted by the city of Davenport to the first party for depot purposes, together with the use of all of the right of way of the first party on said line of road hereinbefore described, as well as the use and occupation of all lands owned and controlled by said first party on and along said line of railroad for the full term of five years from and after the first day of December, 1890, and up to the first day of December, 1895. And the said second party, in consideration of this lease and the covenants herein contained on the part of the first party, hereby covenants and agrees to deliver to said first party thirty bonds of the second party, of the par value of one thousand (1,000) dollars each, the proceeds therefrom to be used by the first party for the payment of right of way along the line of first party, and in settlement of amount due the Chicago, Milwaukee & St. Paul Railroad Company for the construction of a certain portion of first party's line of road extending from Brady street to Centennial street, in the city of Davenport. And the second party covenants and agrees that it will construct the necessary side-tracks along the line of said road hereby leased, and also construct the necessary freight and passenger depots in the city of Davenport and along said leased line; and will also construct the necessary fences required by law along said leased line; and the said second party further agrees to place said loaned premises, as soon as practicable, in a condition for operation, and does hereby agree to commence the operation of said line of road for public business on or before ninety days from the date of this instrument, and to continue the operation of said road during this lease; and the said second party further agrees to keep said line of road and improvements thereon in good repair, and to maintain the road bed of the first party hereby leased, in good condition during the term of said lease. And it is hereby further agreed that the non-performance by the second party of the conditions and covenants hereby agreed to be kept and performed by the second party, shall authorize the first party at its option to terminate this lease, and should the first party so elect, then upon giving the second party a written notice of such election, this lease shall terminate within sixty days from the time of serving such notice, and the first party shall thereupon be entitled to immediately take possession of said leased premises. Said first party agrees and covenants that upon the fulfillment of the covenants herein made by the second party, to maintain said second party, its successors and assigns, in the lawful use and possession of said premises until the end of said term. In witness whereof the said parties to these presents have caused the same to be executed by the president and attested by the secretary, and the seal of said parties hereunto affixed. DAVENPORT, IOWA & DAKOTA RAILROAD COMPANY. (Signed by) Attest, H. C. PULTON, Secretary. BURLINGTON, CEDAR RAPIDS & NORTHERN RAILWAY CO. (Signed by) . C. J. IVES, a. Under the contract with the leased lines the controlling amount of stock is issued to the B. C. R. & N. Ry., out of which, from time to time, the stock is to be issued on the certificates of the County Treasurers, for the local aid under the law governing such. b. For each Main Line Bond, $800 in bonds and 7 shares of stock. For each Milwaukee Div. Bond, $500 in bonds and 5 shares in stock. For each Pacific Div. Bond, $250 in bonds and 24 shares in stock. For each Muscatine Div. Bond, $300 in bonds and 3 shares in stock. The Main Line, Milwaukee, Mescatine and Pacific Divisions form the Burlington, Cedar Rapids & Northern Railway proper, or 402.08, or its entire mileage. See note, page 8. |