Wikipedia:WikiProject Trains/ICC valuations/Saline Valley Railway

Interstate Commerce Commission, Valuation Reports, Volume 28

Saline Valley Railway

Location and General Description of Property

The railroad of Saline Valley Railway Company, herein called the Saline Valley Railway is a single-track, standard-gage, steam railroad, located in the southern part of Illinois. The owned mileage extends westerly from Harrisburg to Saline Mine No. 3, a distance of 1.978 miles. The Saline Valley Railway also owns yard tracks and sidings totaling 1.725 miles. Its road thus embraces 3.703 miles of all tracks owned. All of its property is leased to and operated by the Big Four.

Corporate History

The Saline Valley Railway was incorporated on April 11, 1907, under the general laws of Illinois, for the purpose of constructing and operating a railroad from Harrisburg, Ill., in a westerly direction to Marion, Ill. The principal office is at Chicago, Ill.

Development of Fixed Physical Property

The construction of the road was begun in October, 1910, and it was opened for commercial operation on August 21, 1911. The grading and the placing of cast-iron pipe was performed by the Walsh Construction Company under a contract dated October 1, 1910, and the remainder of the construction work was performed by the forces of the Big Four. This railroad has been exclusively operated by the Big Four since the date of completion.

Leased Railway Property

Through a contract dated February 15, 1911, the Saline Valley Railway leased its property solely to the Big Four for a term of 99 years. Under the terms of this lease the Big Four was to receive all the revenues derived from the operation of the property and agreed to maintain and operate said property at its own expense, pay all taxes, pay the interest on the Saline Valley Railway's outstanding bonds and pay dividends on the outstanding capital stock of the Saline Valley Railway at the rate of 5 per cent per annum.