Wikipedia:WikiProject Trains/ICC valuations/Blue Island Railroad

Interstate Commerce Commission, Valuation Reports, Volume 46

Location and General Description of Property
The railroad of Blue Island Railroad Company, hereinafter called the Blue Island Railroad, is a single-track line, from Blue Island Junction in Chicago, Ill., to Blue Island, Ill., 4.051 miles.

Introductory
The Blue Island Railroad is a corporation of the State of Illinois, having its principal office at Chicago, Ill. The company is controlled by the Illinois Central through ownership of its entire outstanding capital stock. On the other hand, the records do not indicate that this company itself controls any common-carrier corporation.

The property of the Blue Island Railroad has been operated by the Illinois Central since July 1, 1893.

Corporate History
The Blue Island Railroad was incorporated July 7, 1891, under the general laws of Illinois.

Development of Fixed Physical Property
The entire railroad of 4.051 miles of the Blue Island Railroad extending from Blue Island, Ill., to Calumet, Ill., was constructed by the Illinois Central under an agreement dated September 1, 1891, and was completed for operation April 18, 1892.

Leased Railway Property
The Blue Island Railroad leased all of its property to the Illinois Central under an agreement dated May 27, 1896, for the term from July 1, 1893, to the end of its charter life.

The lessee receives all earnings and pays all maintenance and other expenses, and retains the surplus, if any. Any deficits from operation constitute a lien against the property of the Blue Island Railroad.