Michigan Historical Publications; University Series Volume 5 (Paperback)

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1919 edition. Excerpt: ... a trackage arrangement with both of these roads. The Flint and Holly Railroad Company ran independently for a period of three years, at the end of which tim'e it was purchased by the Flint and Pere Marquette Railway Company. During these three years the Flint and Holly Railroad had been prosperous, paying 4 per cent on its stock the first year and carrying $16,842 to surplus; and the second year paying 8 per cent on its stock, crediting surplus with $31,152. The gross earnings were not so large as'they might have been this year due to the destruction of the depot and docks of the Detroit and Milwaukee Railroad Company at Detroit, and the inability of that company to furnish their proportion of flat cars for an outlet to the business forced upon the Flint and Holly Railroad, so that a large portion of the traffic had to seek an outlet via the Flint and Pere Marquette Railway and Lake Huron at an increased freight rate above all-rail rates. What was a loss for the Flint and Hoily Railroad was a gain for the Flint and Pere Marquette Railway, as shown by an increase of over $30,000 in the gross earnings of the latter company over the year previous. Taken all in all, the Flint and Holly Railroad was an important road and invaluable to the growing Flint and Pere Marquette Railway System. The growth of the Flint and Pere Marquette Railroad was stimulated by grants of land by the Federal Government under the Act of 1856. These grants of land were given to the company on condition that the railroad should be constructed to Lake Michigan at the rate of 20 miles per year until completed. In consideration of this yearly construction the railroad was to receive six sections of land for each mile of road built. Twice, the railroad was unable to "complete...