Wikipedia:WikiProject Trains/ICC valuations/Vernon, Greensburg and Rushville Railroad

Interstate Commerce Commission, Valuation Reports, Volume 28

Vernon, Greensburg and Rushville Railroad

Location and General Description of Property

The railroad of Vernon, Greensburg and Rushville Railroad Company, herein called the Vernon, Greensburg and Rushville, is a single-track, standard-gage, steam railroad, located in the southeastern part of Indiana.

The owned mileage extends southerly from Rushville to North Vernon, a distance of 44.320 miles. The Vernon, Greensburg and Rushville also owns yard and sidetracks totaling 7.692 miles. Its road thus embraces 52.012 miles of all tracks owned. All of its property is leased to and operated by the Big Four.

Introductory

No accounting records of the Vernon, Greensburg and Rushville are obtainable. All of the information contained in this report was taken from the records of the Cincinnati, Indianapolis, St. Louis and Chicago Railway Company; the records of the Big Four; the returns filed by the Vernon, Greensburg and Rushville; and certain annual reports of the Vernon, Greensburg and Rushville filed with us.

Corporate History

The Vernon, Greensburg and Rushville was incorporated on July 11, 1879, under the general laws of Indiana, for the purpose of constructing, owning and operating a railroad extending from Vernon to Rushville, Ind. Shortly after the organization of the company, the Cincinnati, Indianapolis, St. Louis and Chicago Railway Company acquired control of it and on July 1, 1881, began the sole operation of its property. It continued in possession of the property until June 30, 1889, the date of demise of the Cincinnati, Indianapolis, St. Louis and Chicago Railway Company. When the Big Four was organized it succeeded to the interests of the Cincinnati, Indianapolis, St. Louis and Chicago Railway Company and began the sole operation of the property of the Vernon, Greensburg and Rushville and continued to do so to date of valuation. Its principal office is at Greensburg, Ind.

Development of Fixed Physical Property

The railroad of the Vernon, Greensburg and Rushville was constructed by it and placed in operation on July 1, 1881. Nothing is known in respect to the construction of this property, except that it was stated in the minutes of the meeting of the board of directors of November 8, 1879, that a proposition of Col. Horace Scott to construct the road had been accepted and it was also stated in the reports of the Vernon, Greensburg and Rushville filed with us for the years ended June 30, 1888 and 1889, that the road owned by the Vernon, Greensburg and Rushville was built by contractors for bonds.

Leased Railway Property

The Cincinnati, Indianapolis, St. Louis and Chicago Railway Company began the operation of the Vernon, Greensburg and Rushville property on July 1, 1881, under an agreement dated July 8, 1881, whereby the Cincinnati, Indianapolis, St. Louis and Chicago Railway Company agreed among other things to keep the property in good repair and pay taxes on the property and interest on the Vernon, Greensburg and Rushville's outstanding bonds.

At the demise of the Cincinnati, Indianapolis, St. Louis and Chicago Railway Company on July 1, 1889, the Big Four, its successor, began the operation of the Vernon, Greensburg and Rushville's property under an agreement dated October 17, 1891, whereby the Big Four agreed to furnish all equipment to be used in its operation and pay all operating expenses, taxes, and interest on the outstanding bonds of the Vernon, Greensburg and Rushville. The agreement is terminable on six months' notice in writing by either party.