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Traverse City, Leelanau & Manistique Railroad
The following information was taken from the Pennsylvania Railroad Technical and History Society web site http://www.prrths.com/PRR_Default.html – PRR Chronology by Chris Baer.
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Nov. 25, 1901 |
Traverse City, Leelanau & Manistique Railroad incorporated in Michigan to build from Traverse City to Northport. (Church) |
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Oct. 2, 1902 |
Traverse City, Leelanau & Manistique Railroad obtains trackage rights from Manistee & Northeastern Railroad between Traverse City and Hatch's Siding. (Church) |
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Apr. 4, 1902 |
Grand Rapids and Indiana Railroad [GR&I] agree to operate Traverse City, Leelanau & Manistique Railroad. (Church) |
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Mar. 8, 1902 |
Traverse City, Leelanau & Manistique Railroad organized. (Church) |
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June 28, 1903 |
Traverse City, Leelanau & Manistique Railroad opens between Northport and Hatch's Crossing, Mich., with trackage rights over Manistee & Northeastern between Hatch's Crossing and Traverse City; controlled and operated by GR&I without agreement; soon after establish car ferry across Lake Michigan between Northport and Manistique; unsuccessful and withdrawn later in year. (Church - opens for revenue passenger service 7/1 with through car from Northland Limited - tt) |
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1905 |
Northport-Manistique, Mich., car ferry revived. |
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Apr. 17, 1907 |
Traverse City, Leelanau & Manistique Railroad sold at foreclosure to Union Trust Company of Detroit. ( , RRG) |
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Sep. 19, 1908 |
Traverse City, Leelanau & Manistique Railway incorporated as reorganization of TCL&M Railroad. (9/14, filed 9/19) |
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1908 |
Northport-Manistique, Mich., car ferry discontinued. |
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Mar. 1, 1914 |
Grand Rapids & Indiana terminates operation of (and disposes of interest in?) Traverse City, Leelanau & Manistique Railroad, Traverse City to Northport. (Check church!) |
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May 23, 1919 |
Leelanau Transit Company incorporated to reorganize Traverse City, Leelanau & Manistique; eventually becomes part of Pere Marquette/C&O System. (RRMich) |
TRAVERSE CITY, LEELANAU & MANISTIQUE RAILROAD COMPANY[1]
The Traverse City, Leelanau & Manistique Railroad filed its article of incorporation November 25, 1901. Of an authorized capital of $500,000, $15,000 was subscribed in the articles of association. The articles showed $500 per mile subscribed and that 5 per cent of the amount subscribed had been paid in to the directors in good faith in cash by the subscribers.
It appears that from testimony that a certificate or certificates of stock were issued to the Grand Rapids & Indiana Railway Company (Paid $75,000). It was stated that if GR&I did not take the stock Pere Marquette would. Stock issue number 2 was made to Union Trust Company for 300 shares March 23, 1904.
Stock was issued to MacDonald Brothers & Company as part consideration under their contract for the construction of the road. (Not known if ever issued)
The railroad was constructed, roadbed in 1902 and ties and rails in 1903. During the period from April to October, 1902, Union City Lumber Company furnished certain construction material used in the construction. In September, 1903, the road became indebted to J. Bird (Union City Lumber) for $1,408.67.
Metheany and Kaufman promoters arranged financing the proposed road with Union Trust Company for the sale of bonds.
All the books and papers of the railroad were transferred along with its offices were moved to Manistique in the spring of 1903, it is believed that D. W. Kaufman, the vice president and treasurer of said railroad removed from Manistique, Michigan in 1908 and moved to Chicago, Illinois.
[1] Union City Lumber Co. v. Traverse City, Leelanau & Manistique Railway, Supreme Court of Michigan May 31, 1912.
Henry F. Burger 1/26/2009
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