Re: RGS at Durango

A little information from:

LEASE

From the Denver and Rio Grande Railroad Company to The Rio Grande Southern Railroad Company of terminals at Durango, Colorado.

Dated January 18, 1892

Treasurer’s Contract No. 391.

Reads in part: “The lessor (D&RG) reserves, and the lessee (RGS) hereby covenants and agrees to pay monthly a sum equal to one-half of five per cent, per annum on the value of the yard, tracks, stations buildings, water supplies, coal sheds, switches, side tracks, shops, fixtures, appurtenances, tools and implements, particularly designated and described in “Exhibit A” and inventory “Exhibit B”, hereto attached, and it is hereby agreed that the value of the same at the time this lease becomes operative, is one hundred and eighty thousand dollars ($l80,000).”

The agreement was to remain in effect for a period of 50 years.

Exhibit A was a book of maps and plats, which I do not have readily at hand, but reflected the boundaries established by this agreement.

Exhibit B was attached to this agreement and listed the valuation of Durango Terminals. Included in the valuation were 3.12 acres, right of way San Juan Smelter Extension, Four 48-feet frame spans San Juan Smelter Extension, and 5,937 lineal feet of track San Juan Smelter Extension.

Jimmy