Wikipedia:WikiProject Trains/ICC valuations/Cincinnati, Lafayette and Chicago Railroad

Interstate Commerce Commission, Valuation Reports, Volume 28

The Cincinnati, Lafayette and Chicago Railroad

Location and General Description of Property

The railroad of The Cincinnati, Lafayette and Chicago Railroad Company, herein called the Cincinnati Lafayette and Chicago, is a single-track, standard-gage, steam railroad, located in the northwestern part of Indiana and the northeastern part of Illinois. The owned mileage extends north westerly from Templeton, Ind., to Kankakee, Ill., a distance of 56.799 miles. This company owns 92.495 miles of all tracks, all leased to and operated by the Big Four. In addition, the Cincinnati, Lafayette and Chicago owns jointly with other carriers 0.128 mile of yard tracks and sidings, one-half each, classified as minor facilities, which are used jointly by the Big Four and other carriers.

Introductory

The records of the Cincinnati, Lafayette & Chicago prior to January 1, 1874, are missing and the records that are obtainable for the period subsequent to that date are incomplete, making it impossible to submit complete and definite statements of the operations, the financial transactions and the cost of property of the Cincinnati, Lafayette & Chicago. Records are obtainable for the period from January 1, 1874, to May 31, 1889, and for the period from January, 1913, to date of valuation. The records were opened by the Cincinnati, Lafayette & Chicago during January, 1913, by recording therein the liabilities for its capital stock and funded debt outstanding at that date in the par value of $4,119,050 and charging the investment in road and equipment account with a like amount. A liability for nonnegotiable debt to affiliated companies, in the amount of $242,472.05 was recorded by a charge of a similar amount to the profit and loss account. No other entries have been made in these records.

Corporate History

The Cincinnati, Lafayette and Chicago was incorporated on March 10, 1873, under the general laws of Indiana and Illinois by the filing of a consolidation agreement between The Kankakee and Indiana Railroad Company and The Cincinnati, Lafayette and Chicago Railroad Company (of 1872), whereby the Cincinnati, Lafayette and Chicago acquired the property, rights, and franchises of the companies named. The principal office is at Kankakee, Ill.

The following statement shows facts concerning the incorporation and succession of companies which were directly or indirectly predecessors of the Cincinnati, Lafayette and Chicago.

No.	Name	Incorporation	Succession
1.	The Cincinnati, Lafayette and Chicago Railroad Company.	Under general laws of Indiana and Illinois, Mar. 10, 1873.
2.	The Kankakee and Indiana Railroad Company.	Under Illinois special act dated Apr. 19, 1869.	Consolidated Mar. 10, 1873, with 3 to form 1.
3.	The Cincinnati, Lafayette and Chicago Railroad Company.	Under general laws of Indiana and Illinois, Mar. 28, 1872.	Consolidated Mar. 10, 1873, with 2 to form 1.
4.	The Cincinnati, Lafayette and Chicago Railroad Company (of Illinois).	Under general laws of Illinois, July 10, 1871.	Consolidated Mar. 28, 1872, with 5 to form 3.
5.	The Cincinnati, Lafayette and Chicago Railroad Company (of Indiana).	Under general laws of Indiana, May 31, 1870.	Consolidated Mar. 28, 1872, with 4 to form 3.

Development of Fixed Physical Property

The Cincinnati, Lafayette and Chicago acquired through consolidation all of its road, aggregating about 57 miles. Information concerning properties acquired, including the location, dates of completion of construction and mileage of road is shown in the following tabulation:

• Acquired from and constructed by The Kankakee and Indiana Railroad Company, date unknown:
  • St. Anne to Kankakee, Ill., 11 miles.
• Acquired from the Cincinnati, Lafayette and Chicago Railroad Company (of 1872), 46 miles, construction completed by —
  • The Cincinnati, Lafayette and Chicago Railroad Company (of Illinois)—
    • St. Anne, Ill., to Illinois-Indiana State line in early part of 1872, 22 miles.
  • The Cincinnati, Lafayette and Chicago Railroad Company (of Indiana)—
    • Illinois-Indiana State line to Templeton, Ind., in early part of 1872, 24 miles.

Leased Railway Property

The property of the Cincinnati, Lafayette and Chicago has been solely operated by the Cincinnati, Indianapolis, St. Louis and Chicago Railway Company and its successor, the Big Four, since September 1, 1880, pursuant to an agreement entered into between the Cincinnati, Lafayette and Chicago and the Cincinnati, Indianapolis, St. Louis and Chicago Railway Company on August 9, 1880, which provided that the latter would pay all operating expenses, taxes, and interest on the funded debt of the lessor.