Wikipedia:WikiProject Trains/ICC valuations/Chicago, Kalamazoo and Saginaw Railway

Interstate Commerce Commission, Valuation Reports, Volume 28

Location and General Description of Property
The railroad owned and operated by Chicago, Kalamazoo and Saginaw Railway Company, herein referred to as the Chicago, Kalamazoo and Saginaw, is a single-track, standard-gage, steam railroad, situated entirely within the State of Michigan, extending from Kalamazoo to Woodbury, a distance of 45.910 miles. The Chicago, Kalamazoo and Saginaw also owns a branch line extending from Kalamazoo to Pavilion, a distance of 9.356 miles, which is operated under exclusive lease by the Grand Trunk Western Railway Company. The Chicago, Kalamazoo and Saginaw wholly owns and uses 61.241 miles of all tracks, jointly owns and uses 1.088 miles of all tracks, wholly owns but does not use 9.705 miles of all tracks, and jointly owns but does not use 0.305 mile of all tracks, which are classified in the trackage table in Appendix 1.

Introductory
The Chicago, Kalamazoo and Saginaw is a corporation of the State of Michigan, having its principal office at Detroit, Mich. It is controlled by The Michigan Central Railroad Company through ownership of a majority of the outstanding capital stock. On the other hand, the records reviewed do not indicate that this company, itself, controls any common-carrier corporation.

The main line property of the Chicago, Kalamazoo and Saginaw was operated by the contractor by whom it was built from the date of its completion, in 1889, until December 1, 1895. From the latter date until December 31, 1917, it was operated by the Chicago, Kalamazoo and Saginaw's own organization. On January 1, 1918, the property was taken over for operation by the United States Railroad Administration and was so operated on date of valuation.

Corporate History
The Chicago, Kalamazoo and Saginaw was incorporated July 3, 1883, under the general laws of the State of Michigan, for the purpose of constructing a railroad between Kalamazoo and Hastings, Mich. By an amendment dated October 29, 1887, the termini of the road to be constructed were changed to a point on the line of the Chicago and Grand Trunk Railroad Company in the northeastern part of Cass County, through the cities of Kalamazoo and Hastings, to the City of Saginaw, all within the State of Michigan.

Development of Fixed Physical Property
The Chicago, Kalamazoo and Saginaw's railroad was acquired by construction and opened for operation as follows:

The line from Kalamazoo to Woodbury was constructed under contract by the Kalamazoo and Hastings Construction Company, Limited, hereinafter referred to as the contractor, an affiliated company. This property was operated by the contractor from September 1, 1889, to December 1, 1895, pending the settlement of the construction contract. The remainder of the Chicago, Kalamazoo and Saginaw's property was constructed by that company's own forces.

Leased Railway Property
The property of the Chicago, Kalamazoo and Saginaw devoted to common-carrier purposes was taken over for operation by the United States Railroad Administration on December 31, 1917, and was so operated on date of valuation. The Chicago, Kalamazoo and Saginaw used on December 31, 1917, certain facilities owned by other companies and other companies used certain facilities owned by it to the extent indicated in the statement below. These lease arrangements were continued by the United States Railroad Administration to date of valuation. The description of the property, the period and terms of use, and the rentals accrued and charged or credited to income for the year ended December 31, 1917, are as follows:
 * Solely owned but not used, leased to Grand Trunk Western Railway Company:
 * 9.356 miles of main track and 9.705 miles of all tracks, Pavilion Junction (Kalamazoo) to Pavilion; term, 99 years from Aug. 1, 1910; rental, $3,000 per annum, all taxes and assessments and cost of maintenance and 4 per cent per annum on additions and betterments. Right reserved to use premises in common with lessee on sixty days' notice. Rental $3,000.00
 * Jointly owned but not used:
 * 0.155 mile of main track and 0.305 mile of all tracks, at Pavilion, owned jointly with Grand Trunk Western Railway Company, used solely by the latter; rental included in property described above.
 * Solely owned but jointly used, used with The Chicago and Kalamazoo Terminal Railroad Company:
 * 0.160 mile of main track and 2.280 miles of all tracks, Portage Street to Mill Street, Kalamazoo; term, 99 years from Aug. 1, 1910; rental, 4 per cent per annum on one-half of valuation and of any additions and betterments and one-half of taxes; maintenance, and joint operation. $3,323.36
 * Jointly used but not owned, owned by The Chicago and Kalamazoo Terminal Railroad Company:
 * Yard tracks and sidings at Kalamazoo; term, 99 years from Aug. 1, 1910; rental, 4 per cent per annum on one-half of valuation and one-half of taxes; maintenance, and joint operation. $86.88