Wikipedia:WikiProject Trains/ICC valuations/Chicago, Rock Island and Pacific Railway

Valuation Docket No. 152, June 30, 1915
Interstate Commerce Commission, Valuation Reports, Volume 24

Location and General Description of Property
The railroad of The Chicago, Rock Island and Pacific Railway Company, herein called the carrier, is a standard-gauge, steam railroad, located in the States of Illinois, Iowa, Minnesota, South Dakota, Nebraska, Missouri, Kansas, Colorado, Arkansas, Oklahoma, and New Mexico. The principal main lines extend from Chicago, Ill., via Omaha, Nebr., to Colorado Springs, Colo.; Davenport, Iowa, via Kansas City, Mo., to Santa Rosa, N. Mex.; St. Louis, Mo., via Kansas City, Mo., to Belleville, Kans.; Kansas City, Mo., to St. Paul, Minn.; Keokuk, Iowa, to Watertown, S. Dak.; Memphis, Tenn., to Tucumcari, N. Mex.; and Herington, Kans., to Dallas, Tex. The carrier uses the tracks of other carriers to secure entrance into St. Paul and Minneapolis, Minn., Kansas City and St. Louis, Mo., Denver and Pueblo, Colo., Memphis, Tenn., and Omaha, Nebr. The carrier also uses under lease car shops at Blue Island, Ill., and freight terminals at Peoria, Ill., and Cedar Rapids, Iowa.

The carrier wholly owns 5,343.748 miles of road, all of which it uses, and uses 1,861.121 miles of road owned by lessors. There are also included in the system 455.030 miles of road independently operated by carriers controlled through stock ownership. Descriptions of the leased and independently operated carriers, all of which are standard-gauge, steam railroads, will be found in the portions of this report devoted to the respective properties. Except as otherwise noted, the properties of the lessors are used in their entirety by the carrier. In addition, other mileage, shown in Appendix 1, is jointly owned by the carrier with other carriers.

The carrier wholly owns and uses 7,286.228 miles of all tracks, and wholly uses but does not own 2,400.658 miles of all tracks. These tracks, consisting of first and other main tracks and yard tracks and sidings, are classified in the trackage table in Appendix 1. The carrier also jointly owns and uses with other carriers 71.387 undivided miles of all tracks, and jointly uses but does not own 4.359 undivided miles of all tracks, as shown in the trackage table in Appendix 1. Of the independently operated mileage, 548.101 miles of all tracks is owned by the Chicago, Rock Island and Gulf Railway Company, and 4.029 miles by the Morris Terminal Railway Company.

Corporate History
The carrier was incorporated under the general laws of Illinois and Iowa as a consolidation of The Chicago, Rock Island and Pacific Railroad Company (second corporation), The Iowa Southern and Missouri Northern Railroad Company, The Newton and Monroe Railroad Company, Atlantic Southern Railroad Company, Atlantic and Audubon Railroad Company, and the Avoca, Macedonia and South Western Railroad Company, of which the first three were each the successor of a number of predecessor corporations. Articles of consolidation were filed with the secretaries of state of Illinois and Iowa in 1880, on June 2 and 3, respectively.

Subsequently to this consolidation, the carrier acquired the property, rights, and franchises of 19 other corporations, most of which were in turn the successor of one or more predecessors. The carrier itself and its predecessors total 74 different corporations, of which 8 underwent a change or changes of name, and comprise the line of corporate succession culminating in the carrier as at present constituted. The following chart shows the names of the corporations, the respective dates of incorporation, and for each predecessor the date of succession, the immediately succeeding corporation, and the manner of succession. Reference to each of these corporations is made in the last column by its respective number shown in the first column.

Development of Fixed Physical Property
The road wholly owned by the carrier, including approximately 13 miles of jointly owned mileage, was acquired as follows: Of the predecessor companies named in the tables given below, the following acquired, in some cases all and in others part of their property, from antecedent companies: For a complete statement of the manner in which their properties were established, reference is made to the portions of the accounting report devoted to the companies named and to their predecessors.
 * The Chicago, Rock Island and Pacific (second corporation),
 * The Burlington, Cedar Rapids and Northern Railway Company of Iowa,
 * Kansas City Rock Island Railway Company,
 * The Iowa Southern and Missouri Northern Railroad Company,
 * The Chicago, Kansas and Nebraska Railway Company (second corporation),
 * Searcy & Des Arc Railroad Company,
 * Chicago, Rock Island and El Paso Railway Company,
 * The Newton and Monroe Railroad Company,
 * The Rock Island and Peoria Railway Company,
 * Minneapolis and St. Paul Terminal Railway Company.

The data with respect to the road constructed by the remaining corporations, the years in which the various portions of the line were constructed, and the manner in which the carrier acquired its property, are indicated in the following table, wherein to facilitate comparison with the table showing corporate succession previously given, the same order of corporations is maintained.

Leased Railway Property
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The property owned by the carrier and leased to others, and that leased by the carrier from others, is set forth in detail below:

Property of other carriers used solely by the carrier

1 mile, track at Winterset, Iowa, owned by the Chicago, Rock Island and Pacific Railroad; lease implied.

978 miles, owned by the Choctaw, Oklahoma and Gulf, its entire railway property; agreement running 999 years from March 24, 1904; rental equal to interest on funded debt; rental accrued for the year ended June 30, 1915, $729,850.

162 miles, Keokuk to Des Moines, Iowa, owned by the Keokuk & Des Moines; agreement running to January 6, 1924; rental of 25 per cent of gross earnings, minimum $137,500; rental accrued for the year ended June 30, 1915, $177,106.27.

47 miles, Bureau to Peoria, Ill., owned by the Peoria and Bureau Valley; agreement perpetual from April 14, 1854; rental of $125,000 per annum; rental accrued for year ended June 30, 1915, $125.000.01.

385 miles, owned by the Rock Island, Arkansas and Louisiana, its entire property; agreement running 999 years from January 31, 1906; rental equal to interest on funded debt; rental accrued for year ended June 30, 1915, $513,144.

14 miles, Dardanelle to Ola, Ark., owned by the Rock Island and Dardanelle; agreement running 999 years from December 1, 1911; rental equal to interest on funded debt; bonds all owned by the carrier, no interest is accrued or paid.

The entire property owned by the Rock Island Memphis Terminal; agreement implied; rental equal to interest on funded debt; bonds all owned by the carrier, no interest is accrued or paid.

21 miles, Mesa to Stuttgart, Ark., owned by the Rock Island, Stuttgart and Southern; agreement running 999 years from February 1, 1914; rental equal to interest on funded debt; bonds all owned by the carrier, no interest is accrued or paid.

193 miles, the entire property, owned by the St. Paul and Kansas City Short Line agreement running 99 years from November 1, 1913; rental equal to interest on funded debt; rental accrued for the year ended June 30, 1915, $443,536.82.

62 miles, Brinkley to Jacksonport, Ark., and Wiville to Gregory, Ark., owned by the White & Black River Valley Railroad; agreement running 80 years from June 30, 1900; rental equal to interest on funded debt; rental accrued for the year ended June 30, 1915, $30,000.

Total rent for leased roads accrued for year ended June 30, 1915, $2,018,637.10.

Property of other carriers used jointly by the carrier: tracks

13 miles, Iowa-Minnesota State line to Albert Lea, Minn., used jointly with The Minneapolis & St. Louis Railroad Company; agreement running 999 years from January 31, 1877, with option of purchase or of commuting the rental payments on or before June 1, 1927, for $150,000; rental equal to interest on $150,000 first-mortgage 7 per cent bonds, or $10,500 per annum; rental of $10,500 included by the carrier in interest on funded debt.

18 miles, Cashion to Guthrie, Okla., used jointly with The Atchison, Topeka and Santa Fe Railway Company; agreement for six months from February 1, 1908; rental on train-mileage basis; rental accrued for year ended June 30, 1915, $45,858.96.

1.51 miles, Lindsay, Okla., used jointly with The Atchison, Topeka and Santa Fe Railway Company; agreement running from year to year from September 1, 1903; rental of 2.5 per cent on valuation and one-half taxes, maintenance tonnage basis; rental for year ended June 30, 1915, $1,867.61.

1.38 miles, Atchison, Kans., used jointly with The Atchison, Topeka and Santa Fe Railway Company; agreement running 25 years from April 1, 1898; rental of $1,820 per annum and one-twelfth of one-half of taxes, maintenance on wheelage basis; rental for year ended June 30, 1915, $3,482.42.

0.06 mile, Winthrop, Mo., used jointly with The Atchison, Topeka and Santa Fe Railway Company; perpetual agreement from August 4, 1890; used under reciprocal agreement.

0.38 mile, Winthrop, Mo., to Atchison, Kans., used jointly with the Atchison and Eastern Bridge Company; under traffic provision; rental accrued for the year ended June 30, 1915, $8,702.16.

54.30 miles, Cameron Junction to Harlem, Mo., used jointly with the Chicago, Burlington & Quincy Railroad Company; agreement running 99 years from January 1, 1905; rental of 2.5 per cent on valuation and one-half of taxes, maintenance on car-mileage basis; rental accrued for the year ended June 30, 1915; $51,409.26.

45.76 miles, Harlem to Rushville, Mo., used jointly with the Chicago, Burlington & Quincy Railroad Company; agreement running 99 years from January 1, 1905; rental of 2.5 per cent on valuation and one-half of taxes, maintenance on car mileage basis; rental for year ended June 30, 1915, $76,383.33.

0.60 mile, Union Depot at Burlington, Iowa, used jointly with the Chicago, Burlington & Quincy Railroad Company; agreement terminable on 30 days' notice after January 1, 1908; rental of 6 per cent on valuation, maintenance prorated; rental accrued for the year ended June 30, 1915, $1,502.49.

0.48 mile, Griswold, Iowa, used jointly with the Chicago, Burlington & Quincy Railroad Company; no agreement, reciprocal arrangement.

8.13 miles, Newport to St. Paul, Minn., used jointly with the Chicago, Burlington & Quincy Railroad Company, and the Chicago, Milwaukee and St. Paul Railway Company; agreement running 99 years from January 1, 1904; rental of $333.33 per mile per annum and taxes, maintenance on car-mileage basis; rental accrued for year ended June 30, 1915, $4,942.52.

10.12 miles, St. Paul to Minneapolis, Minn., used jointly with the Chicago, Milwaukee and St. Paul Railway Company, agreement running 99 years from January 1, 1904; rental of $20,000 per annum plus 2 per cent on valuation of additions and betterments and $6,000 and $3,000 per annum for trains; rental accrued for the year ended June 30, 1915, $41,290.61.

27.07 miles, Comus to Rosemont, Minn., used jointly with the Chicago, Milwaukee and St. Paul Railway Company; agreement running 99 years from January 1, 1904; rental of 2 per cent on valuation and one-half of taxes, maintenance, etc., on car-mileage basis; rental accrued for year ended June 30, 1915, $17,119.82.

0.79 mile, St. Paul, Minn., used jointly with the Chicago, Milwaukee and St. Paul Railway Company and the Chicago, Saint Paul, Minneapolis and Omaha Railway Company; agreement running 100 years from January 1, 1903; rental of $3,000 per annum and proportion of taxes, maintenance on car-mileage basis; rental accrued for the year ended June 30, 1915, $3,696.87.

10.70 miles, Manly Junction to Clear Lake, Iowa, used jointly with the Chicago Great Western Railroad Company; agreement running January 1, 1913, to April 30, 2000; rental of 2.5 per cent on valuation of $487,000, and one-half taxes, maintenance on car-mileage basis; rental accrued for the year ended June 30, 1915, $17,989.06.

Terminals, Mason City, Iowa, used jointly with the Chicago Great Western Railroad Company; agreement running January 1, 1913, to April 30, 2000; rental on basis of cars handled.

119.60 miles, Denver to Pueblo, Colo., used jointly with The Denver and Rio Grande Railroad Company; perpetual lease from February 15, 1888; rental of 2.5 per cent on valuation and one-half of taxes, maintenance, etc., on wheelage basis, rental accrued for the year ended June 30, 1915, $124,236.35.

66.63 miles, Des Moines to Gowrie, Iowa, used jointly with the Des Moines & Fort Dodge Railroad Company; agreement terminable on 18 months' notice after January 1, 1903; rental of the car-mileage proportion of $1,030 per mile with minimum of 35 per cent, a like proportion for taxes and for additions and betterments, maintenance on car-mileage basis; rental accrued for year ended June 30, 1915, $32,957.97.

0.31 mile, Union Depot at Memphis, Tenn., to Arkansas-Tennessee State line, used jointly with the Illinois Central Railroad Company; agreement running 20 years from January 1, 1912; rental equal to one-fourth of 5 per cent on valuation maintenance, etc., on wheelage basis; rental accrued for year ended June 30, 1915, $583.92.

11.33 miles, Manly Junction to Northwood, Iowa, used jointly with the Iowa Central Railway Company; agreement running 999 years from July 1, 1901; rental equal to interest on $171,000 bonds and taxes on train-mileage basis, maintenance on wheelage basis and 60 per cent station expenses; rental accrued for year ended June 30, 1915, $4,675.36.

8.61 miles (6.76 miles, Sheffield to Kansas City, Mo., under agreement terminable six months after notice after April 1, 1904, and 1.85 miles, Kansas City, Mo., to Chicago, Burlington & Quincy Railroad Company's connection, under agreement running 200 years from June, 1909), used jointly with the Kansas City Terminal Railway Company; rental equal to one-half of maturing bonds and interest on bonds, maintenance and operation, etc., on car-mileage basis, rental accrued for year ended June 30, 1915, $18,395.77.

2.55 miles, Arkansas-Tennessee State line to Bridge Siding, Ark., used jointly with the Kansas City and Memphis Railway and Bridge Company; under tariff provision; rental for year included with other payments under the heading "Other Important Joint Facilities" (following).

25.70 miles, Anthony to Caldwell, Kans., used jointly with the Kansas Southwestern Railway Company; agreement terminable on 90 days' notice after July 2, 1906; rental equal to $13 per train using track; rental for year ended June 30, 1915, $6,023.75.

0.09 mile, Keokuk, Iowa, used jointly with the Keokuk Union Depot Company; agreement running 50 years from July 1, 1890; rental equal to one-fifth of interest on bonds, maintenance on wheelage basis; rental accrued for the year ended June 30, 1915, $608.55.

1.10 miles, Stillings, Mo., to Leavenworth, Kans., used jointly with the Leavenworth Terminal Railway and Bridge Company; agreement running 30 years from January 1, 1894; rental on basis of $16,000 per annum; rental accrued for the year ended June 30, 1915, $13,331.20.

35.20 miles, Packton to Pineville, La., used jointly with the Louisiana and Arkansas Railway Company; agreement running 25 years from June 1, 1907; rental of $500 per mile per annum, 2.5 per cent on valuation of additions and betterments, and one-half taxes, maintenance on car-mileage basis; rental accrued for the year ended June 30, 1915, $18,724.31.

2.69 miles, Pineville to Alexandria, La., used jointly with the Louisiana Railway & Navigation Company; agreement running 10 years from June 1, 1907; rental of $12,500 per annum, taxes and maintenance on car-mileage basis; rental accrued for the year ended June 30, 1915, $12,899.27.

0.99 mile, Memphis, Tenn., used jointly with the Nashville, Chattanooga & St. Louis Railway; no agreement.

0.10 mile, Eunice, La., used jointly with the New Orleans, Texas and Mexico Railroad Company; agreement terminable on six months' notice after January 1, 1911; rental of 2.5 per cent on $80,000 valuation, and one-twelfth of 2.5 per cent on valuation of additions and betterments, maintenance, etc., on tonnage basis.

0.36 mile, St. Joseph, Mo., to Elwood, Kans., used jointly with The St. Joseph and Grand Island Railroad Company; agreement running 99 years from April 5, 1904; rental of $120 per annum, maintenance, etc., prorated to lines using.

2.55 miles, Leeds Junction to Chicago, Rock Island & Pacific Junction, Mo., used jointly with the St. Louis and San Francisco Railroad Company; agreement running 50 years from March 24, 1904; rental of 2.5 per cent on valuation of $62,250 and one-half taxes, maintenance on car-mileage basis; rental accrued for year ended June 30, 1915, $1,273.58.

7.05 miles, Marion to Kulbert, Ark., used jointly with the St. Louis and San Francisco Railroad Company; agreement running 25 years from October 3, 1910; rental of 2.5 per cent on valuation of $154,218.08 and one-half taxes, maintenance, etc., on basis of cars handled; rental accrued for year ended June 30, 1915, $3,834.06.

0.07 mile, Chandler, Okla., used jointly with the St. Louis and San Francisco Railroad Company; agreement terminable 90 days after notice after December 1, 1910, rental of 2.5 per cent on valuation and one-half of station expenses; rental accrued for year ended June 30, 1915, $62.04.

0.51 mile, Memphis, Tenn., used jointly with the St. Louis and San Francisco Railroad Company; agreement terminable on 30 days' notice after May 1, 1910; rental of 2.5 per cent on valuation of $59,441 and one-half of taxes, maintenance on wheelage basis; rental accrued for the year ended June 30, 1915, $15,665.10.

2.18 miles, Kent to Camden, Ark., used jointly with the St. Louis Southwestern Railway Company; agreement terminable on 90 days' notice after 5 years from October 12, 1913; rental of 2.5 per cent on valuation of $291,728.68, maintenance, etc., on car-mileage basis; rental accrued for the year ended June 30, 1915, $6,797.81.

7.65 miles, Olivette to North St. Louis Yards, Mo., used jointly with the Terminal Railroad Association of St. Louis; agreement conditional from December 16, 1902; rental of 2 per cent on valuation, maintenance, etc., on wheelage basis; rental accrued for the year ended June 30, 1915, $31,720.35.

67.35 miles, Kansas City, Mo., to North Topeka, Kans., used jointly with the Union Pacific Railroad Company; agreement running 999 years from September 8, 1887; rental of 2.5 per cent on valuation and one-half taxes, maintenance, etc., on wheelage basis; rental accrued for the year ended June 30, 1915, $140,538.96.

89.78 miles, Limon to Denver, Colo., used jointly with the Union Pacific Railroad Company; agreement running 999 years from May 5, 1889; rental equal to 25 cents per passenger-train mile and 30 cents per freight-train mile, minimum $50,000 per annum; rental accrued for the year ended June 30, 1915, $46,774.98.

7.10 miles, Council Bluffs, Iowa, to South Omaha, Nebr., used jointly with the Union Pacific Railroad Company; agreement running 999 years from May 1, 1890; rental of $3,750 per month, maintenance, etc., on wheelage basis; rental accrued for year ended June 30, 1915, $38,813.86.

4.55 miles, St. Louis to Forsythe Junction, Mo., used jointly with The Wabash Railroad Company; agreement perpetual from December 31, 1886; rental of 6 per cent on $500,000 valuation, maintenance, etc., on a wheelage basis; rental accrued for the year ended June 30, 1915, $30,189.44.

1.61 miles, Wichita, Kans., used jointly with The Wichita Union Terminal Railway Company; agreement 999 years from November 1, 1911; rental of proportion of interest on bonds and taxes, maintenance and operation on basis of cars in and out; track rental payments included with other payments under the heading "Other Important Joint Facilities" (following).

Total joint facility rents accrued for year ended June 30, 1915, on tracks, exclusive of $10,500, which the carrier has charged as interest on funded debt, $822,351.74

Other important joint facilities

Missouri River Bridge, Kansas City, Mo., used jointly with the Chicago, Burlington & Quincy Railroad Company; agreement running January 1, 1905, to January 1, 1930; rental of $30,000 per annum, maintenance on wheelage basis; rental accrued for year ended June 30, 1915, $32,162.12.

Terminals, Leavenworth, Kans., and Stillings, Mo., both used jointly with the Chicago, Burlington & Quincy Railroad Company; agreement running January 1, 1894, to January 1, 1924; maintenance, etc., on basis of tonnage and of cars in and out.

Union Station, Denver, Colo., used jointly with The Denver Union Terminal Railway Company; agreement running 99 years from March 2, 1913; rental equal to one-sixth interest on bonds and taxes, maintenance on basis of cars in and out; rental accrued for the year ended June 30, 1915, $19,775.54.

Terminals and shop facilities, Tucumcari, N. Mex., used jointly with the El Paso and Southwestern Railroad Company; agreement terminable on six months' notice after July 1, 1907; rental of 2 per cent on valuation, maintenance, etc., on basis of locomotives and cars in and out; rental accrued for the year ended June 30, 1915, $6,555.83.

Station, Memphis, Tenn., used jointly with the Illinois Central Railroad Company; agreement running January 1, 1912, to January 1, 1932; rental of one-fourth of 5 per cent of valuation, maintenance, etc., on basis of cars handled; rental accrued for the year ended June 30, 1915, $23,760.

Union Station, Kansas City, Mo., used jointly with the Kansas City Terminal Railway Company; agreement running 200 years from June 12, 1909; rental of one-twelfth of maturing bonds and interest, maintenance, etc., on basis of cars in and out; rental accrued for the year ended June 30, 1915, $102,865.26.

Mississippi River bridge, Memphis, Tenn., used jointly with the Kansas City and Memphis Railway and Bridge Company; under tariff arrangement, freight and passenger; rental accrued for the year ended June 30, 1915, $284,805.30.

Union Station, Leavenworth, Kans., used jointly with The Leavenworth Depot & Railroad Company; agreement running 50 years from April 11, 1887; rental of one-sixth of 10 per cent of valuation and receive one-sixth of net surplus; rental accrued for the year ended June 30, 1915, $3,598.23.

Terminals, Minnesota Transfer, Minn., used jointly with The Minnesota Transfer Railway Company; rental equal to one-tenth of bond interest, maintenance on basis of tonnage; rental accrued for year ended June 30, 1915, $10,325.13.

Union Station, Pueblo, Colo., used jointly with The Pueblo Union Depot and Railroad Company; agreement running 50 years from August 1, 1889; rental equal to one-fifth of bond interest and taxes, maintenance on basis of wheelage; rental accrued for the year ended June 30, 1915, $6,846.64.

Freight terminals, St. Louis, Mo., used jointly with the Rock Island-Frisco Terminal Railway Company; rental equal to 5 per cent on valuation, maintenance, etc., on basis of cars handled and tonnage; rental for year ended June 30, 1915, $98,922.48.

Missouri River bridge, St. Joseph, Mo., used jointly with the St. Joseph and Grand Island Railroad Company; agreement running 99 years from April 5, 1904, rental of $16,000 per annum, taxes and maintenance divided equally; rental accrued for year ended June 30, 1915, $19,800.76.

Union Station, St. Joseph, Mo., used jointly with the St. Joseph Union Depot Company; agreement running from April, 1888, to April, 1938; rental equal to proportion of interest on bonds, taxes, and maintenance prorated between using roads.

Union Station, St. Paul, Minn., used jointly with the St. Paul Union Depot Company; agreement running October, 1902, to February 6, 1979; rental equal to proportion of interest on bonds, maintenance, etc., less revenues, on basis of cars handled; rental accrued for the year ended June 30, 1915, $3,933.17.

Union Station, St. Louis, Mo., used jointly with the Terminal Railroad Association of St. Louis; rental equal to proportion of interest on bonds, maintenance, etc., divided between roads using on basis of cars handled; rental accrued for year ended June 30, 1915, $2,745.66.

Station, Omaha, Nebr., used jointly with the Union Pacific Railroad Company; agreement running 999 years from May 1, 1890; rental of 5 per cent on valuation, maintenance, etc., on basis of wheelage, rental accrued for year ended June 30, 1915, $8,445.96.

Kaw River bridge, Kansas City, Kans., used jointly with the Union Pacific Railroad Company; agreement running 999 years from September 1, 1887; rental of 2.5 per cent on valuation and half taxes, maintenance, etc., on wheelage basis; rental accrued for year ended June 30, 1915, $6,231.36.

Union Station and terminals, Wichita, Kans., used jointly with the Wichita Union Terminal Railway Company; agreement running 999 years from November 1, 1911; rental equal to proportion of bond interest and taxes, maintenance, etc., on basis of cars in and out; rental accrued for the year ended June 30, 1915, $31,585.80.

Total joint facility rents accrued for year ended June 30, 1915, on other important joint facilities, $662,359.24

Miscellaneous minor facilities

Various; rental accrued for the year ended June 30, 1915, $86,634.

Property owned and operated by the carrier, used jointly by other carriers; tracks

19.48 miles, St. Joseph to Winthrop, Mo., used jointly by the Atchison, Topeka and Santa Fe Railway Company; agreement running 99 years from January 1, 1898; initial payment of $7,840.12; rental of 2.5 per cent on valuation, $23,130 and 5 per cent on $33,000, maintenance on wheelage basis, less proportion of payment by the Missouri Pacific Railway Company under agreement dated February 16, 1907; rental accrued for year ended June 30, 1915, $2,883.09.

0.69 mile, South Dodge to Dodge City, Kans., used jointly by the Atchison, Topeka and Santa Fe Railway Company; rental accrued for year ended June 30, 1915, $665.

6.25 miles, Brainard Junction to South Chicago, Ill., used jointly by the Baltimore and Ohio Rail Road Company; agreement perpetual from November 2, 1891; rental of 2.5 per cent on valuation, maintenance on wheelage basis; rental accrued for year ended June 30, 1915, $28,595.24.

6.33 miles, Chicago to Englewood, Ill., used jointly by The New York Central Railroad Company; rental of $1 per passenger-train mile and $1.25 per freight-train mile; rental accrued for year ended June 30, 1915, $3,884.36.

3.08 miles, Burnside to Irondale, Ill., used jointly by the Chicago, West Pullman and Southern Railroad Company; rental of 50 cents per car, 75 cents per engine, $5 per train; rental accrued for year ended June 30, 1915, $3,421.14.

26.60 miles, West Davenport to Culver, Iowa, used jointly by the Chicago, Milwaukee and St. Paul Railway Company, agreement running from June, 1903, to June, 2002; rental of 2 per cent on valuation, maintenance on car-mileage basis; rental accrued for year ended June 30,1915, $31,921.86.

1.60 miles, Clinton to Chancy, Iowa, used jointly by the Chicago, Milwaukee and St. Paul Railway Company; rental accrued for year ended June 30, 1915, $435.90.

1.14 miles, Terral, Okla., to Texas State line, used jointly by the Chicago, Rock Island and Gulf; agreement terminable 90 days' notice after July 1, 1912; rental of $3,804 per annum, maintenance and operating 50 per cent; rental accrued for year ended June 30, 1915, $3,803.99.

15.34 miles, Burlington to Mediapolis, Iowa, used jointly by the Chicago, Burlington & Quincy Railroad Company; agreement running March, 1904, to March, 1929; rental of 2 per cent on valuation and one-half taxes, maintenance on car-mileage basis; rental accrued for year ended June 30, 1915, $9,122.

3.72 miles Beverly to Stillings, Mo., used jointly by the Chicago Great Western Railroad Company; rental of $150 per month, taxes and maintenance on wheelage basis; rental accrued for year ended June 30, 1915, $2,153.39; agreement running 25 years from January 1, 1899.

0.14 mile, Rock Island, Ill., used jointly by the Davenport, Rock Island & Northwestern Railway Company; rental accrued for year ended June 30, 1915, $150.

59.97 miles, Santa Rosa to Tucumcari, N. Mex., used jointly by the El Paso and Southwestern Railroad Company; agreement terminable on six months' notice after July, 1907; rental of 2 per cent on valuation of $2,204,600 and one-half taxes; rental accrued for the year ended June 30, 1915, $69,406.02.

2.03 miles, East Des Moines to Des Moines, Iowa, used jointly by the Fort Dodge, Des Moines & Southern Railroad Company; rental of 50 cents per car, minimum of $350 per month; rental accrued for year ended June 30, 1915, $3,424.21.

0.61 mile, Cedar Rapids, Iowa, used jointly by the Illinois Central Railroad Company; rental of $500 per annum and one-fourth of five per cent of maintenance; rental accrued for year ended June 30, 1915, $1,925.

6.90 miles, Englewood to Pullman Junction, Ill., used jointly by The New York Central Railroad Company; no contract; rental of $1 per passenger-train mile and $1.25 per freight-train mile; rental accrued for year ended June 30, 1915, $8,452.50.

3.17 miles, Northwood to Iowa-Minnesota State line, used jointly by The Minneapolis & St. Louis Railroad Company; rental of 2 per cent on valuation, maintenance and operations on wheelage basis; rental accrued for year ended June 30, 1915, included under 13.00 miles of track, Iowa-Minnesota State line to Albert Lea, Minn., reported as property of The Minneapolis & St. Louis Railroad Company under heading of "Property Leased and Operated by the Carrier, Used Jointly by Other Carriers"; agreement running 999 years from July 1, 1901.

0.88 mile, St. Joseph to Fourth Street, St. Joseph, Mo., used jointly by The Missouri Pacific Railway Company; rental of $584.32 per annum and one-half taxes; rental accrued for year ended June 30, 1915, $595.68.

19.48 miles, St. Joseph to Winthrop, Mo., used jointly by The Missouri Pacific Railway Company; agreement running February 16, 1907, to February 15, 1917; rental of 2 per cent on valuation of $430,320, maintenance on car-mileage basis; rental accrued for year ended June 30, 1915, $7,652.45.

24.87 miles, Pleasant Hill to Leeds Junction, Mo., used jointly by The Missouri Pacific Railway Company; agreement terminable on one year's notice after February, 1909; rental of 50 cents per train mile, minimum $25,000; rental accrued for year ended June 30, 1915, $11,597.91.

2.49 miles, Burlington, Iowa, to Mile Post 242, used jointly by the Muscatine North and South Railway Company; rental of 75 cents per car, minimum of $250 per month; rental accrued for year ended June 30, 1915, $3,334.02.

6.33 miles, Chicago to Englewood, Ill., used jointly by The New York, Chicago and St. Louis Railroad Company; agreement terminable on six months' notice from January, 1909; rental of $1 per passenger-train mile and $1.25 per freight-train mile; rental accrued for year ended June 30, 1915, $19,335.32.

6.90 miles, Englewood to Pullman Junction, Ill., used jointly by The New York, Chicago and St. Louis Railroad Company; no contract; rental of $1 per passenger-train mile and $1.25 per freight-train mile; rental accrued for year ended June 30, 1915, $40,076.78.

18.97 miles, Rock Island to Monmouth, Ill., used jointly by the Rock Island Southern Railway Company; no contract; rental of 2.25 per cent and 4.5 per cent on valuation; maintenance on tonnage and car-mileage basis; rental accrued for year ended June 30, 1915, $16,543.90.

0.02 mile, Fort Sill, Okla., used jointly by the St. Louis and San Francisco Railroad Company; rental accrued for year ended June 30, 1915, $19.71.

18.00 miles, Cedar Point to Cedar Rapids, Iowa, used jointly by The Waterloo, Cedar Falls & Northern Railway Company; agreement terminable on six months' notice after March, 1914; rental of 50 cents per train-mile, minimum of $5 per round trip; rental accrued for year ended June 30, 1915, $2,609.84.

0.19 mile, Council Bluffs, Iowa, used jointly by The Wabash Railroad Company; rental accrued for year ended June 30, 1915, $395.

Total rental accrued for year ended June 30, 1915, on owned tracks, $272,403.31.

Other important joint facilities

La Salle Street Station, Chicago, Ill., used jointly by The New York Central Railroad Company; agreement terminable on six months' notice after January 1, 1906; rental of $4 per train; rental accrued for year ended June 30, 1915, $1,858.95.

31st Street station, Chicago, Ill., used jointly by The New York Central Railroad Company; rental on a car basis of roads using; agreement terminable on six months' notice after January 1, 1906; rental accrued for year ended June 30, 1915, $560.29.

Station, Englewood, Ill., used jointly by The New York Central Railroad Company, agreement terminable on six months' notice after May 14, 1906, rental of 6 per cent on valuation of $70,232 between roads using and on number cars; rental accrued for year ended June 30, 1915, $648.84.

Station, Waterloo, Iowa, used jointly by the Chicago Great Western Railroad Company; agreement terminable on 60 days' notice after July 3, 1907, rental of 2.5 per cent on valuation, maintenance and operation 50 per cent; rental accrued for year ended June 30, 1915, $790.09.

Terminals, Waurika, Okla., used jointly by the Chicago, Rock Island and Gulf; no agreement; rental of 84 per cent of 2.5 per cent on valuation of $150,481.59; rental accrued for year ended June 30, 1915, $3,160.10.

La Salle Street Station, Chicago, Ill., used jointly by The New York Central Railroad Company; one-half interest; joint expenses divided equally.

Station, Englewood, Ill. , used jointly by The New York Central Railroad Company; one-third interest; revenues and expenses divided on basis of ownership.

La Salle Street Station, Chicago, Ill., used jointly by The New York, Chicago and St. Louis Railroad Company; agreement running year to year from April 1, 1909; rental of $4 per train; rental accrued for year ended June 30, 1915, $3,705.72.

Station Englewood, Ill., used jointly by The New York, Chicago, and St. Louis Railroad Company; agreement running year to year from April 1, 1909; rental of 6 per cent on valuation of $70,232 between roads using and on number of cars; rental accrued for year ended June 30, 1915, $670.39.

Thirty-first Street Station, Chicago, Ill., used jointly by The New York, Chicago and St. Louis Railroad Company; agreement running year to year from April 1, 1909; rental on car basis of roads using; rental accrued for year ended June 30, 1915, $569.65.

Station, Englewood, Ill., used jointly by the Pere Marquette Railroad Company; agreement terminable on six months' notice after March 6, 1904; rental of $5,000 annually; rental accrued for year ended June 30, 1915, $4,069.28.

Station, Englewood, Ill., used jointly by The Pittsburgh, Cincinnati, Chicago and St. Louis Railway Company; agreement terminable on six months' notice after March 4, 1906; rental of 6 per cent on valuation of $70,232 between roads using and on number of cars; rental accrued for the year ended June 30, 1915, $688.51.

Station, Englewood, Ill., used jointly by The Pittsburgh, Fort Wayne and Chicago Railway Company; one-third interest; revenues and expenses divided on basis of ownership.

Total rental accrued for year ended June 30, 1915, on other important joint facilities, $16,721.82.

Property leased and operated by the carrier, used jointly by other carriers; tracks

Property of the Choctaw, Oklahoma and Gulf:

0.10 mile, Anthony, Kans., used jointly by The Atchison, Topeka and Santa Fe Railway Company; rental for year ended June 30, 1915, $63.51.

1.16 miles, Ola, Ark., used jointly by the Central Railway Company of Arkansas; rental accrued for the year ended June 30, 1915, $293.23.

12.28 miles, Frisco Junction to Ardmore, Okla., used jointly by the St. Louis and San Francisco Railroad Company; agreements terminable on six months' notice after January, 1904; rental of 2.5 per cent on valuation; maintenance and operation on car-mileage basis; rental accrued for year ended June 30, 1915, $13,262.85.

64.67 miles, Bridge Siding to Brinkley, Ark., used jointly by the St. Louis Southwestern Railway Company; agreement terminable on three months' notice after March, 1912; rental of 55 cents per train-mile and 2.5 per cent on expenditures for additions and betterments; rental accrued for year ended June 30, 1915, $29,157.32.

3.92 miles, Hopefield to Hulbert, Ark., used jointly by the St. Louis, Iron Mountain & Southern Railway Company; agreement terminable on one year's notice after February, 1913; rental of 55 cents and 65 cents per train-mile, operation on train-mileage basis; rental accrued for year ended June 30, 1915, $2,232.

Property of The Keokuk & Des Moines:

0.02 mile, Keokuk, Iowa, used jointly by the Chicago, Burlington & Quincy Railroad Company; rental accrued for year ended June 30, 1915, $36.74.

Property of The Minneapolis & St. Louis Railroad Company:

7.70 miles, Glenville to Albert Lea, Minn., used jointly by the Illinois Central Railroad Company; agreement from September, 1900, during corporate existence; rental of $2,284.15 per annum, maintenance on car-mileage basis; rental accrued for year ended June 30, 1915, $2,284.20.

13 miles, Iowa-Minnesota State line to Albert Lea, Minn., used jointly by The Minneapolis & St. Louis Railroad Company; rental of 2 per cent on valuation, maintenance and operations on wheelage basis; rental accrued for year ended June 30, 1915, on this line and that part owned by the carrier from Northwood to Iowa-Minnesota State line, $3,196.83; agreement running 999 years from July 1, 1901.

Property of the Rock Island, Arkansas and Louisiana:

1.14 miles, Crosset, Ark., used jointly by the Arkansas, Louisiana & Gulf Railroad Company; rental of 25 cents per car, 50 cents per engine and tons handled; rental accrued for year ended June 30, 1915, $230.00.

1.50 miles, Hermitage, Ark., used jointly by the Warren, Johnsville & Saline River Railroad Company; rental accrued for year ended June 30, 1915, $144.27.

Property of the St. Paul and Kansas City Short Line:

4.43 miles, Swanwood to Des Moines, Iowa, used jointly by the Fort Dodge, Des Moines & Southern Railroad Company; rental of 25 cents per car or engine; rental accrued for years ended June 30, 1915, $972.06.

Total rental accrued for year ended June 30, 1915, on leased tracks, $51,873.01.

Other important joint facilities

Property of The Keokuk & Des Moines:

Freight station, Keokuk, Iowa, used jointly by The Wabash Railroad Company; agreement terminable on six months' notice after August 1, 1904; rental of $12,000 per annum; rental accrued for year ended June 30, 1915, $1,800.

Property owned or leased and operated by the carrier, used jointly by other carriers miscellaneous minor facilities:

Various, total rental accrued for year ended June 30, 1915, $47,892.49.

Valuation Docket No. 1199, December 31, 1932
Interstate Commerce Commission, Valuation Reports, Volume 47

Location and General Description of Property
The properties embraced in this system form a standard-gage, steam, trunk-line railroad, in the States of Illinois, Iowa, Minnesota, South Dakota, Nebraska, Missouri, Kansas, Colorado, Tennessee, Arkansas, Oklahoma, Texas, Louisiana, and New Mexico. The principal operated main lines extend from Chicago, Ill., westerly via Davenport, Iowa, Omaha, Nebr., and Phillipsburg, Kans., to Colorado Springs and Denver, Colo.; Davenport, Iowa, southwesterly, via Kansas City, Mo., and Topeka, Kans., to Santa Rosa, N. Mex.; St. Louis, Mo., northwesterly, via Kansas City, Mo., and Topeka, Kans., to Belleville, Kans.; Rock Island, Ill., and Burlington, Iowa, northwesterly to St. Paul and Minneapolis, Minn.; Keokuk, Iowa, northwesterly via Des Moines, Iowa, to Watertown, S. Dak.; Memphis, Tenn., westerly via Oklahoma City, Okla., to Tucumcari, N. Mex.; Herrington, Kans., southerly via Oklahoma City, Okla., to Fort Worth and Dallas, Tex.; and from Little Rock, Ark., southerly via El Dorado, Ark., to Eunice, La. Many important secondary main lines and branches project from these main stems in the various States traversed.

The total operated system mileage, omitting trackage rights, is 7,849.845 miles of first main tracks, 388.369 miles of second main track, 13.713 miles of third main tracks, 0.606 mile of fourth main tracks, 0.605 mile of fifth main track, and 11,042.826 miles of all tracks, exclusive of 80.239 undivided miles of first main track, 7.596 miles of second main tracks, 1.707 miles of third main track, 1.804 miles of fourth main track, and 179.985 miles of all tracks jointly used. A detailed description of the property owned or used by each operating company embraced in this system, together with mileage and other pertinent information, appears in the separate reports appended hereto.

Introductory
The Rock Island is a corporation of the States of Illinois and Iowa, having its principal offices at Chicago, Ill.

The valuation under section 19a of the Interstate Commerce Act of the property owned and used by the Rock Island as of June 30, 1915, was issued and is reported in Chicago, R. I. & P. Ry. Co., 24 Val. Rep. 709, herein referred to as the 1915 valuation report.

The records reviewed do not indicate that the Rock Island is controlled by any individual or corporation. The Rock Island reports that as of April 5, 1932, it had 15,112 stockholders, the largest of which are the St. Louis-San Francisco Railway Company with 183,333 shares; Blass & Company, 46,670 shares; Blake Brothers, 21,572 shares; Hayden, Stone & Company, 25,127 shares; Roosevelt & Son, 7,590 shares; Sigler & Company, 8,923 shares; Joseph R. Warner, 9,600 shares; Fredk. T. Fisher, 9,300 shares; and Wareham, Albert & Co., 8,696 shares.

On the other hand, the Rock Island solely controls through ownership of all the capital stock each of the following companies whose several common-carrier properties it operates under lease arrangements.


 * Choctaw, Oklahoma and Gulf,
 * Morris Terminal,
 * Rock Island, Arkansas and Louisiana,
 * Rock Island and Dardanelle,
 * Rock Island Memphis Terminal,
 * Rock Island Omaha Terminal,
 * Rock Island, Stuttgart and Southern, and
 * St. Paul and Kansas City Short Line.

It solely controls through ownership of all the capital stock each of the following carrier companies whose properties are separately operated.


 * Chicago, Rock Island and Gulf, and
 * Peoria Terminal.

It also controls through ownership of all the capital stock the Rock Island Improvement Company whose common-carrier property it uses under agreement. It controls, further, the following noncarrier corporations.


 * Consolidated Indiana Coal Company,
 * Crawford County Mining Company, and
 * Gasconade Railway Construction Company.

The Rock Island controls, jointly, directly or indirectly, 17 railroad and terminal companies, whose properties are operated independently. The names of these companies, together with a statement showing the extent of the Rock Island control, are given below.

It also jointly and equally controls with The Cleveland, Cincinnati, Chicago and St. Louis Railway Company, the Kankakee and Seneca Railroad Company whose property is operated by the New York Central Railroad Company as agent.

Together with The Atchison, Topeka and Santa Fe Railway Company, Chicago, Burlington & Quincy Railroad Company, Chicago and Eastern Illinois Railway Company, Chicago and Erie Railroad Company, The Chesapeake and Ohio Railway Company of Indiana, Chicago, Indianapolis and Louisville Railway Company, Grand Trunk Western Railroad Company, Illinois Central Railroad Company, Minneapolis, St. Paul & Sault Ste. Marie Railway Company, Pennsylvania Company, Pere Marquette Railway Company, and the Wabash Railway Company, it jointly controls The Belt Railway Company of Chicago which operates part of the property of the Chicago and Western Indiana Railroad Company.

Further, together with the Burlington-Rock Island Railroad Company, it jointly controls the Houston Belt & Terminal Railway Company, whose capital stock is equally owned by the Burlington-Rock Island Railroad Company, Gulf, Colorado and Santa Fe Railway Company, The Beaumont, Sour Lake & Western Railway Company, and The St. Louis, Brownsville & Mexico Railway Company.

The Rock Island owns all of the capital stock of the following inactive carrier companies whose properties it has acquired.


 * Chicago, Rock Island and El Paso Railway Company, Kansas City Rock Island Railway Company, and
 * Tucumcari and Memphis Railway Company.

The Rock Island also owns all of the capital stock of the St. Louis, Rock Island Terminal Railway Company, an inactive company.

The Rock Island was in the hands of a receiver on June 30, 1915. At midnight June 24, 1917, in conformity with an order of the court dated June 12, 1917, the receivership was terminated. With exceptions of the period of receivership and the period January 1, 1918, to February 29, 1920, when the property was operated by the United States Railroad Administration, the property of the Rock Island has been operated by its own organization since date of acquisition.

Corporate History
Details with respect to the corporate history of the Rock Island as of June 30, 1915, will be found in the 1915 valuation report, pages 922-25.

On November 1, 1916, the Rock Island acquired by purchase the property, rights, and franchises of the Chicago, Rock Island and Pacific Railroad Company whose property it solely used on June 30, 1915. The corporate history of the company will be found in the 1915 valuation report, page 1077.

On December 22, 1923, the Rook Island acquired by purchase the property, rights, and franchises of the Rock Island and Oklahoma Railway Company, which had been incorporated October 6, 1919, under the general laws of Oklahoma.

There have been no other changes in corporate history since June 30, 1915.

Development of Fixed Physical Property
The Rock Island owned about 5,355 miles of road on June 30, 1915, acquired in the manner set forth in the 1915 valuation report, pages 925-31. The miles of road owned on December 31, 1932, aggregated 5,321.049 miles.