1. Name of common carrier making this report? Duluth Short Line Railway Company. 2. Date forganization? July 1st, 1886. 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. General laws of Minnesota; and extends into Wisconsin under general laws of Wisconsin, approved April 9th, 1887. 4. If a consolidated company, name the constituent companies. Give reference to charters of each, and all amendments of same. Not consolidated. 7. [For companies not making operating reports.] What carrier operates the road of this company? St. Paul and Duluth Railroad Company. Total number of stockholders at date of last election? 6. Date of last meeting of stockholders for election of directors? June 1st, 1891. Give post office address of general office. St. Paul, Minn. [FOR ROADS NOT MAKING OPERATING REPORTS.] Name of Railroad the Income of which from Lease, or from other Assignment for Operation, is Included in the Income Account-Page 33. Duluth Short Line R'y Thomson...... West End Jc. St. Paul & Duluth R. R. Co.......... Leased.. 13.75 Junction.... W'st Superior St. Paul & Duluth Duluth Short Line R'y W'st Superior] Total mileage R. R. Co...... Leased.. 4.00 17.75 (Page 15.) PROPERTY LEASED, OR OTHERWISE ASSIGNED FOR OPERATION-Continued. [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 subsidiary company making an operating report, its mileage will of course appear on page 9. Duluth Short Line Railway is leased to St. Paul & Duluth Railroad Company from September 1st, 1886, for ninety-nine years, at a rental of twenty-five thousand ($25,000) dollars per annum, one-half payable on the first day of March and one-half payable on the 1st day of September; the St. Paul & Duluth Railroad Company is also to pay such further sum of money in each year as shall be required by the Duluth Short Line Railway Company to keep up its existence and organization, and also pay all taxes and assessments lawfully levied. The Duluth Short Line Railway Company issued its bonds to the amount of $500,000 payable on the 1st day of September, ,1916 bearing interest at the rate of five (5) per cent. per annum, payable semi-annually. The St. Paul & Duluth Railroad Company guaranteed the payment of said bonds, principal and interest, and has the right to apply the rental tothe payment of the interest on said bonds. REMARKS-The St. Paul & Duluth Railroad Company paid prior to June 30th, 1891, for the construction of the Duluth Short Line Railway the sum of $926,594.59, and received proceeds from sale of Duluth Short Line Railway lands $500,000.00, also received 6.000 shares of the capital stock of the Duluth Short Line Railway Company at a cost of 8426,594.59. FUNDED DEBT. MORTGAGE BONDS, MISCELLANEOUS OBLIGATIONS, AND INCOME BONDS. $500,000.00 $513,250.00 5 per cent. Mch. & Sept. $25,000.00 $25,000.00 FUNDED DEBT-Continued, EQUIPMENT TRUST OBLIGATIONS. This company has no equipment, the road being leased to and operated by the St. Paul & Duluth Railroad Company as a part of its own line. (Page 23.) RECAPITULATION OF FUNDED DEBT. CASH AND CURRENT ASSETS AVAILABLE FOR PAYMENT OF CURRENT LIABILITIES. CURRENT LIABILITIES ACCRUED TO AND INCLUDING JUNE 30, 1891. $8,333.33 Miscellaneous, interest accrued on bonds lent not due.. $8,333.33 88,333.33 Total. $8,333.33 |