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Thanks Jeff...I've been "reving up" to point this out...Some of those leases were like $1.00 a year or maybe even $10.00 per annum...When the RI started its real estate sales program in about 1966 there was a special department set up under the "industrial Development Department..There were representatives assigned to various territories whose mission it was to get out there and upgrade leases to reflect current land values and sales were to be made based on current land values. To say the least..There was much "weeping and gnashing of teeth" amogst the leasees. A special department was set up in the Real Estate area to value the land.
.and substantiate the leases rentals and asking sales prices.
The annual lease rentals were to be a minimum of 10% of the appraised value.
Other railroads had similar programs put in place at about the same time..C&NW was the one nearest the RI operation...They needed cash almost as badly as the RI.
Pete
-----Original Message-----
From: jeff worones jworones@yahoo.com [CBQ] <CBQ@yahoogroups.com> To: CBQ <CBQ@yahoogroups.com> Sent: Thu, Nov 17, 2016 4:50 pm Subject: Re: Fwd: [CBQ] Grain Haulage As a bit of useless information,
When the Rock Island was being liquidated, the Trustee was selling everything for the highest price. There were many examples of grain elevators leasing land along the RI r-o-w that had the property bought out from under them by land barons, who then dramatically increased the lease rates to the elevators.
Thanks!
Jeff Jeff Worones Seattle WA From: "STEVEN HOLDING sholding@sbcglobal.net [CBQ]" <CBQ@yahoogroups.com> To: "CBQ@yahoogroups.com" <CBQ@yahoogroups.com> Sent: Wednesday, November 16, 2016 5:21 AM Subject: Re: Fwd: [CBQ] Grain Haulage Larry
I would have to say in most cases the land was leased. For a normal small fee. Same with lumber yards, coal sheds and other warehouses with in the about 100 feet ROW. IF you can fine ROW maps like the one I used for my clinic at La Crosse there are notations on them. Often in some of my files are smaller maps just for the leases. When the Aurora Elevation was put in they even built it wider just to serve the Fox River Butter Co.
Due to the changes in business today and the loss of the customer base that is one reason often there is no
buildings close to the tracks thru most towns today. All the coal shed, warehouses and elevators have been torn down.
Steve in SC
In the video, it was stated that the railroad donated land for the elevator to be sited on. Was that true about the situation in the U.S., or was the property owned by the company owning the elevator?
LarryG
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