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UPPER MISSISSIPPI BARGE LINE COMPANY
UPPER MISSISSIPPI BARGE LINE COMPANY. A Delaware corporation, the Upper Mississippi Barge Line was organized with the goal of placing modern and efficient large transportation on the upper Mississippi River between the Twin Cities and St. Louis. The company was an answer to the annual call for using the upper Mississippi as a carrier of freight.
Among the benefits expected were:
1. reliable and dependable barge freight service as rates considerably below existing rail rates, 2. advantages from combined rail and water shipping, 3. active water transportation and water freight competition, 4. an economic and direct transportation outlet would be created with export trade through the Gulf of Mexico and the Panama Canal to Atlantic and Pacific coasts, 5. placement of the upper Mississippi valley on a better economic position with other sections of the United States.
The Upper Mississippi Barge Line entered into a contract with the Inland Waterways Corporation, a federal corporation in charge of barge transportation on inland waterways. In its contract with inland Waterways, the Upper Mississippi line agreed to:
1. provide a fleet of towboats and barges approved by government engineers, for weekly service north and south, between the Twin Cities and St. Louis, 2. furnish a traffic manager and traffic solicitors, 3. furnish terminal engineers to assist the various towns with plans and specifications for modern terminals
In its contract with the Upper Mississippi Line, Inland Waterways agreed to:
1. operate the fleet of the barge line, 2. lease operate and maintain the fleet for five years at a rent of 5% of the cost of the cost of the equipment, 3. to buy from the barge line, at the option of the company after two years and not later than five years, the entire floating equipment of the company, at cost, less 3% depreciation per annum
The announcement of the barge line formation was quickly championed locally by the DUBUQUE SHIPPERS' ASSOCIATION.
1. "Great Interest is Aroused in River Development Plan," Telegraph Herald, February 21, 1926, p. 19