Wikipedia:WikiProject Trains/ICC valuations/Lyons and Chicago Railroad

Interstate Commerce Commission, Valuation Reports, Volume 42

Lyons & Chicago Railroad

Location and General Description of Property

The property of the Lyons & Chicago Railroad Company, hereinafter called the Lyons & Chicago Railroad, which is leased in its entirety to the Baltimore and Ohio Chicago Terminal, consists of certain right-of-way, grading, and ballast upon which the Baltimore and Ohio Chicago Terminal has constructed sidings to serve the stone quarries at McCook, Ill. The ties, rails, and fastenings along such tracks are owned by the latter carrier.

Introductory

The Lyons & Chicago Railroad is a corporation of Illinois, having its principal office at Chicago, Ill. No accounting records of the company were obtained. However, certain information stated below was obtained from the records of the Baltimore and Ohio Chicago Terminal.

The Lyons & Chicago Railroad is controlled by the Baltimore and Ohio Chicago Terminal through ownership of the capital stock. The records reviewed do not indicate that this company controls any common-carrier corporation. The property was operated by the Chicago Terminal Transfer Railroad Company from July 1, 1897, to January 6, 1910. From the latter date to date of valuation it has been operated by the Baltimore and Ohio Chicago Terminal.

Corporate History

The company was incorporated April 21, 1897, under the general laws of Illinois, for the purpose of constructing a railroad from the village of Lemont, in Cook County, Ill., to the railroad of the Chicago & Calumet Terminal Railway Company, near its intersection with the railroad of The Atchison, Topeka and Santa Fe Railway Company. The date of organization was April 23, 1897.

Development of Fixed Physical Property

The owned mileage, 0.291 mile, in the vicinity of McCook, Ill., was constructed during 1897. The records reviewed do not indicate whether the construction was performed by company forces or under contract.

Leased Railway Property

The entire property is leased to the Baltimore and Ohio Chicago Terminal for a term of 999 years from November 10, 1897. The terms of the lease are given in the chapter on leased railway property in the report on the Baltimore and Ohio Chicago Terminal.