Wikipedia:WikiProject Trains/ICC valuations/Chicago and Wabash Valley Railway

Interstate Commerce Commission, Valuation Reports, Volume 103

Chicago and Wabash Valley Railway

Location and General Description of Property

The railroad of Chicago and Wabash Valley Railway Company, hereinafter called the carrier, is a single-track standard-gauge steam railroad located in the northwestern part of Indiana. The owned mileage extends northwesterly from McCoysburg, Ind., to a point about 4 miles beyond Dinwiddie, Ind., a distance of 35.942 miles. The carrier also owns yard and side tracks totaling 3.237 miles. Its road thus embraces 39.179 miles of all tracks owned.

Corporate History

The carrier was incorporated on September 5, 1900, under the general laws of the State of Indiana. Shortly after incorporation, the date not being of record, it acquired the property, rights, and franchises of Chicago and Wabash Valley Railroad Company, and on July 29, 1909, it acquired the property, rights, and franchises of The Dinwiddie and Gary Railway Company. The road of the carrier was acquired from Chicago and Wabash Valley Railroad Company for a distance of 20 miles north from McCoysburg. The remaining 16 miles were acquired by construction, the date thereof not being of record. The Dinwiddie and Gary Railway Company had not constructed any mileage at the time of acquisition of its property by the carrier. Prior to March 15, 1914, the carrier was controlled by B. J. Gifford, its promoter. Since that date control has been vested in the Chicago, Indianapolis & Louisville Railway, through ownership of over 99 per cent of its capital stock.

Predecessor Companies

Chicago and Wabash Valley Railroad

The above-named company was incorporated on September 10, 1898, under the general laws of the State of Indiana, to construct and operate a line of railroad in Jasper County, Ind. Shortly after the incorporation of the carrier in 1900 the property, rights, and franchises of this company were conveyed to it.

This company has no obtainable accounting records but such records as are in existence state that B. J. Gifford advanced funds for the construction of the line, which extended from McCoysburg, Ind., in a northerly direction for about 20 miles. These records also state that the property was conveyed to the carrier on the basis of actual cost and payment made therefor in capital stock of the carrier. The amount of capital stock actually involved in the transaction is not shown.

The Dinwiddie and Gary Railway

The above-named company was incorporated on August 10, 1908, under the general laws of the State of Indiana for the purpose of constructing and operating a line of railroad from a connection with the carrier to Gary, Ind. Before any actual construction work was done, its property, rights, and franchises, on July 29, 1909, were conveyed to the carrier. No capital stock or other securities were issued by this company, the subscribers to its capital stock receiving $50,000 par value of the stock of the carrier.