Wikipedia:WikiProject Trains/ICC valuations/Cleveland, Cincinnati, Chicago and St. Louis Railway

Interstate Commerce Commission, Valuation Reports, Volume 28

Location and General Description of Property
The railroad of The Cleveland, Cincinnati, Chicago and St. Louis Railway Company, herein called the Big Four, is a standard-gage, steam railroad located in the States of Ohio, Indiana, Illinois, and Michigan. The Big Four operates a network of lines which serve large parts of Ohio, Indiana, and Illinois, and a small portion of Michigan. The most important lines extend between points on Lakes Erie and Michigan and the Ohio and Mississippi Rivers. The principal cities which it serves are Cleveland, Columbus, Springfield, Sandusky, and Cincinnati, in Ohio; Indianapolis, Terre Haute and Evansville, in Indiana; Cairo and East St. Louis, in Illinois; and St. Joseph, in Michigan. By trackage rights over other roads it reaches Chicago, Ill.; St. Louis, Mo.; Louisville, Ky.; Toledo, Ohio; and Peoria, Ill.

The Big Four wholly owns and uses 1,687.470 miles of first main track and wholly uses but does not own 534.094 miles of first main track owned by its lessor companies and described in the portions of this report devoted to those companies. In addition, the Big Four jointly owns and uses with other carriers 0.820 mile of first main track, undivided. The total mileage of all tracks wholly owned and used by the Big Four is 3,184.133, of all tracks wholly used but not owned, 762.602, and of all tracks jointly owned and used, 3.597, undivided. These tracks are classified in the trackage table in Appendix 1, where will also be found further description of these properties.

Corporate History
The Big Four was incorporated under the general laws of the States of Ohio and Indiana through a consolidation of the properties, rights and franchises of the Cincinnati, Indianapolis, St. Louis and Chicago Railway Company, the Cleveland, Columbus, Cincinnati and Indianapolis Railway Company, and the Indianapolis and St. Louis Railway Company.

The properties, rights and franchises of these companies were consolidated through an agreement which became effective upon its ratification by the stockholders of each of the companies consolidated, and upon filing the agreement with the secretaries of state of the States of Ohio and Indiana. This agreement was ratified by the stockholders of the Cincinnati, Indianapolis, St. Louis and Chicago Railway Company, March 19, 1889, and by the stock holders of the Cleveland, Columbus, Cincinnati and Indianapolis Railway Company and The Indianapolis and St. Louis Railway Company, March 27, 1889, and was filed with the secretary of the State of Ohio, June 7, 1889, and with the secretary of the state of Indiana, June 8, 1889. The consolidation agreement was ratified by the stockholders and was filed with the secretaries of state as shown above, but the results of the operation of the properties of the consolidated companies were continued in their books of account up to and including June 30, 1889. The Big Four began recording the results of the operation of the properties that came under this consolidation agreement on July 1, 1889, and for that reason it is shown hereinafter for the purpose of this report, that the consolidation agreement became effective on July 1, 1889.

The right of the Big Four to operate in the State of Illinois was secured through purchase of the property, rights, and franchises of The Cairo, Vincennes and Chicago Railway Company and The Chicago, Indianapolis and St. Louis Short Line Railway Company, both of which companies were incorporated under the general laws of Illinois. Its right to operate in the State of Michigan was secured through the purchase of the property, rights and franchises of The Cincinnati, Wabash & Michigan Railway Company, a railroad incorporated under the general laws of the States of Indiana and Michigan. During the 27 years of its corporate existence, the Big Four acquired the entire property of 12 railroad companies, but directly or indirectly, it is the successor to 44 corporations, including 6 name changes, and also a portion of the road of another corporation, the oldest having been placed in operation in April, 1851.

The Big Four is controlled by the New York Central, through ownership of a majority of its capital stock. The principal office is located at Cincinnati, Ohio.

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.

The Ohio, Indiana and Western Railway Company, a portion of whose property was acquired, is not shown above, but is treated in that portion of this report covering the Peoria and Eastern, the successor to its rights, franchises, etc.

Development of Fixed Physical Property
The mileage of road wholly owned and used by the Big Four on date of valuation, amounting to approximately 1,687 miles, was acquired as follows:

Information concerning properties acquired by the Big Four through consolidation or purchase, including the location, dates of completion of construction, and mileage of road, is shown in the following tabulation:

By consolidation, 636 miles:
 * Acquired from the Cincinnati, Indianapolis, St. Louis and Chicago Railway Company, 173 miles, construction completed by—
 * The Lafayette and Indianapolis Railroad Company, La Fayette to Indianapolis, Ind., 1852, 60 miles.
 * Indianapolis and Cincinnati Railroad Company, 92 miles—
 * Indianapolis to Lawrenceburg, Ind., 1853, 90 miles.
 * Lawrenceburg to Indiana-Ohio State Line, 1865, 2 miles.
 * The Cincinnati and Indiana Railroad Company, Ohio-Indiana State line to Cincinnati, Ohio, 1863, 21 miles.
 * Acquired from the Cleveland, Columbus, Cincinnati and Indianapolis Railway Company, 391 miles, construction completed by—
 * The Bellefontaine and Indiana Railroad Company, Galion, Ohio, to Ohio-Indiana State line, 1853, 119 miles.
 * Indianapolis, Pittsburgh and Cleveland Railroad Company, Ohio-Indiana State line to Indianapolis, Ind., 1851, 84 miles.
 * The Cleveland, Columbus and Cincinnati Railroad Company, Cleveland to Columbus, Ohio, 1851, 138 miles.
 * The Springfield, Mt. Vernon and Pittsburgh Railroad Company, Delaware to Springfield, Ohio, 1861, 50 miles.
 * Acquired from The Indianapolis and St. Louis Railway Company, construction completed by St. Louis and Indianapolis Railroad Company[sic], Indianapolis to Terre Haute, Ind., 1870, 72 miles.

By purchase direct, 914 miles:
 * Acquired from The White Water Railroad Company, construction completed by The White Water Valley Railroad Company, Garrison[sic], Ohio, to Hagerstown, Ind., 1868, 62 miles.
 * Acquired from The Columbus, Springfield and Cincinnati Railroad Company, 45 miles, construction completed by—
 * Springfield and Columbus Railroad Company, Springfield to London, Ohio, 1854, 20 miles.
 * The Columbus, Springfield and Cincinnati Railroad Company, London to Columbus, Ohio, 1872, 25 miles.
 * Acquired from and construction completed by Cincinnati and Springfield Railroad Company, Ludlow Grove to Dayton, 1872, 47 miles.
 * Acquired from the Harrison Branch Railroad Company, construction completed by The Cincinnati and Indiana Railroad Company in the interest of the Harrison Branch Railroad Company, Valley Junction to Harrison, Ohio, 1864, 8 miles.
 * Acquired from The Cairo, Vincennes and Chicago Railway Company, 462 miles, construction completed by—
 * Paris and Danville Railroad Company, 99 miles—
 * Danville to Paris, Ill., 1872, 37 miles.
 * Davis[sic] to Robinson, Ill., 1875, 43 miles.
 * Robinson to Lawrenceville, Ill., 1876, 21 miles.
 * Less abandoned by the Danville and Southwestern Railroad Company, Danville to Tilton, Ill., 2 miles.
 * St. Francisville and Lawrenceville Railroad Company, Lawrenceville to St. Francisville, Ill., 1880, 10 miles.
 * The Cairo and Vincennes Railroad Company, Cairo, Ill., to Vincennes, Ind., between 1867 and 1874, 157 miles.
 * The Cairo, Vincennes and Chicago Railway Company, Danville to Tilton, Ill., date unknown, 2 miles.
 * Purchased by The Cairo, Vincennes and Chicago Railway Company, Nov. 1, 1890, from St. Louis, Alton and Terre Haute Railroad Company, predecessor of the Illinois Central Railroad Company, 194 miles—
 * Construction completed by—
 * The Terre Haute and Alton Railroad Company, Terre Haute, Ind., to Alton, Ill., 1856, 174 miles.
 * Belleville and Illinoistown Railroad Company, East St. Louis to East Alton, Ill., 1856, 20 miles.
 * Acquired from The Chicago, Indianapolis and St. Louis Short Line Railway Company, construction completed by the Big Four in the interest of The Chicago, Indianapolis and St. Louis Short Line Railway Company, Hillsboro to Lenox, Ill., 1905, 44 miles.
 * Acquired from Cincinnati, Wabash & Michigan Railway Company, 204 miles, construction completed by—
 * The Warsaw, Goshen and White Pigeon Railroad Company, Goshen to Warsaw, Ind., 1870, 24 miles.
 * The Cincinnati, Wabash & Michigan Railway Company, 86 miles—
 * Warsaw to North Manchester, Ind., 1871, 19 miles.
 * North Manchester to Wabash, Ind., 1872, 16 miles.
 * Wabash to Marion, Ind., 1873, 19 miles.
 * Marion to Fairmont, Ind., 1875, 10 miles.
 * Fairmont to Anderson, Ind., 1876, 23 miles.
 * The Elkhart, Niles and Lake Michigan Railroad Company, Niles, Mich., to Michigan-Indiana State line, 1882, 10 miles.
 * The Cincinnati, Wabash & Michigan Railway Company, 84 miles—
 * Michigan-Indiana State line to Goshen, Ind., 1882, 20 miles.
 * Niles to Benton Harbor, Mich., 1882, 25 miles.
 * Anderson to Rushville, Ind., 1891, 39 miles.
 * Acquired from and construction completed by the Cincinnati and Southern Ohio River Railroad Company, Lawrenceburg to Aurora, Ind., 1887, 4 miles.
 * Acquired from The Fairland, Franklin and Martinsville Railroad Company, 38 miles, construction completed by—
 * The Cincinnati and Martinsville Railroad Company, Franklin to Fairland, Ind., 1866, 12 miles.
 * The Martinsville and Franklin Railroad Company, Martinsville to Franklin, Ind., 1853, 26 miles.

By purchase after foreclosure:
 * Acquired from The Ohio, Indiana and Western Railway Company, construction completed by The Indianapolis, Bloomington and Western Railway Company, Springfield, Ohio, to Indianapolis, Ind., 1882, 137 miles.

Grand total, 1,687 miles.

Only a portion of the property of The Ohio, Indiana and Western Railway Company was acquired by the Big Four. In that part of the report covering the Peoria and Eastern information is given concerning the remainder, which was acquired by the Peoria and Eastern.

The second main track of the Big Four amounts to about 429 miles, of which 28 miles was acquired by consolidation, 107 miles by purchase, and 294 miles by construction. The records do not disclose the date or manner of constructing either second main track or joint trackage.

Leased Railway Property
The Big Four uses railroad property of others and other carriers use property of the Big Four. The following tabulation shows the amount of property used either solely or jointly, the period and terms of use, and the rental accrued for the year ended on date of valuation:


 * Solely owned but not used, leased to—
 * The Central Union Depot and Railway Company of Cincinnati:
 * Property consists of lands upon which depot, train sheds, and tracks of the company, at Cincinnati, Ohio, are located. Leased in perpetuity under agreements dated July 1, 1884, and Dec. 29, 1888. Rental accrued for year $53,618.88.
 * Solely used but not owned, leased from—
 * Vernon, Greensburg and Rushville:
 * Entire property. Contract dated Oct. 17, 1891, is terminable on six months' notice in writing by either party. Big Four maintains and operates property and pays taxes and interest on outstanding bonds of the lessor, but the records do not disclose any other consideration paid.
 * Columbus, Hope and Greensburg:
 * Entire property. Contract dated Oct. 17, 1891. The Big Four receives all revenues, maintains and operates property and pays taxes and interest on outstanding bonds of the lessor, but the records do not disclose any other consideration paid.
 * Cincinnati, Lafayette and Chicago:
 * Entire property. By virtue of a resolution of the board of directors of the lessor, on Aug. 9, 1880, and affirmed by the board of directors of the Big Four, Sept. 15, 1880, the latter has perpetual use of this property. The Big Four maintains and operates property and pays taxes and interest on outstanding bonds of the lessor, but the records do not disclose any other consideration paid.
 * Peoria and Eastern:
 * Entire property. Lease dated Feb. 22, 1890, runs for a period of 50 years and stipulates that as annual rental the Big Four pay interest on outstanding mortgage bonds of the lessor. Lease also provides that the Big Four receive all earnings and income of the lessor, pay maintenance, operation and other charges, including repairs, renewals and reasonable betterments and apply net earnings of each year together with net income from the Big Four's line between Springfield, Ohio, and Indianapolis, Ind., on which the lessor held a purchase money lien, to the payment of interest on outstanding mortgage bonds of the lessor. Out of the remaining net income of each year the Big Four was to be reimbursed for advances made to the lessor in the previous years with interest at 6 per cent per annum, after which payment was to be made of interest on income bonds of the lessor and the remainder to be finally paid over to the lessor. Prior to Jan. 1, 1914, the Big Four did not take into its operating income the results that accrued from operation of the property of the lessor. Those results were accounted for by the Big Four as agent for the lessor. The property of the lessor was treated as a leased line in the accounts of the Big Four from Jan. 1, 1914. Rental accrued for year, representing interest on outstanding bonds of the lessor, $404,260.00.
 * Evansville Mt. Carmel and Northern:
 * Entire property. Operating under an agreement dated Nov. 1, 1910. While agreement provides that the Big Four pay as rental a portion of the operating expenses, taxes, and interest upon bonds of the lessor, on a car mileage basis, the Big Four was the only carrier using the property. It has, therefore, paid all expenses including taxes and interest on outstanding bonds of the lessor, but as such payments were inseparably merged with the expenditures of the Big Four, the amount could not be determined.
 * Saline Valley Railway:
 * Entire property. Lease dated Feb. 15, 1911, runs for 99 years and stipulates annual rental of 5 per cent dividend on outstanding capital stock of the lessor. Lease also provides that all expenses of operating and maintenance, including taxes and interest on bonds be paid by the Big Four. Rental accrued for year, $12,500.00.
 * Cincinnati, Sandusky and Cleveland:
 * Entire property. Lease dated Oct. 30, 1890, extends to Nov. 28, 1969. Big Four maintains and operates property and pays as annual rental 6 per cent dividends on preferred stock and interest on outstanding funded debt of the lessor. Rental accrued for year, $154,281.00.
 * Findlay Belt Railway:
 * Entire property. Operated by the Big Four from its completion in May, 1891, to date of valuation, by virtue of corporate control through stock ownership, without any formally executed agreement. Records of the Big Four do not disclose any payment made for use of property.
 * Mt. Gilead Short Line:
 * Entire property. Lease dated April 13, 1880, signed by the Cleveland, Columbus, Cincinnati and Indianapolis Railway Company, a predecessor of the Big Four, for a period not to exceed 99 years. Stipulates that lessee pay all operating, maintenance, taxes, and other expenses and pay to trustees in control of property one-third of net earnings resulting from its operation. Records of Big Four do not disclose any payment made to trustees for 1915.
 * The Central Union Depot and Railway Company of Cincinnati:
 * Six-story office building at Cincinnati, Ohio, used under lease for general office purposes by the Big Four. Rental of $9,000 per annum paid to Mar. 1, 1915, and 15 cents per square foot per annum subsequent to that date.
 * Solely owned but jointly used, used with—
 * The New York Central Railroad Company:
 * Facilities between Cleveland and Berea, Ohio, including 12.22 miles of tracks, union freight house at Cleveland and the freight and passenger station and track scales at Berea. Compensation for use fixed at $42,000 per annum for 5 trains each way daily, which was increased or decreased at the rate of $6 per train in accordance with the actual trains operated. For engine run only a charge of $1.50 each was made. Total received for year was $25,452, of which $12,726 was credited to operating expenses; the balance, the rental accrued for year, was $12,726.00.
 * The Wheeling and Lake Erie Railway Company:
 * Facilities between East Lindale and Wellington, Ohio, including 31.89 miles of tracks and the crossing at Wellington. Rental based on $1.50 per train mile, and total received for year was $30,240, of which $15,120 was credited to operating expenses; the balance, the rental accrued for year, was $15,120.00.
 * Cincinnati Northern Railroad Company:
 * Facilities between Carlisle Junction and Ivorydale Junction, Ohio, including 36.04 miles of track, passenger station at Franklin, crossing and interlocker at Carlisle Junction, station facilities between Ivorydale Junction and Franklin, Cincinnati freight house, Sharonville terminal, signals and interlockers. Compensation including trackage rights over the tracks of The Baltimore and Ohio Southwestern Railroad Company from Ivorydale Junction to Cincinnati Junction, Ohio, and use of the Cincinnati union depot and tracks, also Big Four's track from Franklin Junction to Wells, Ohio, was based on a rate of $4.50 per loaded freight car, and $2.25 for each empty freight car in excess of those loaded; 20 cents per ton for freight handled through freight houses, 30 cents per ton if less than car-load freight, and all passenger earnings between Cincinnati and Franklin, Ohio. Total received for year was $156,311.91, of which $78,155.96 was credited to operating expenses; the balance, the rental accrued for year, was $78,155.95.
 * Chicago and Eastern Illinois Railroad Company:
 * Facilities between Pana and Granite City, Ill., including 76.20 miles of track and the yards at Livingston, Ill. Compensation based on 2 per cent per annum on valuation of $5,948,645.53 and a proportion of taxes and expenses based on engine and car mileages of the two carriers. Total received for year was $273,103.60, of which $155,409.69 was credited to operating expenses; the balance, the rental accrued for year, was $117,693.91.
 * Chicago, Burlington & Quincy Railroad Company:
 * Facilities between Alton and East St. Louis, Ill., including 22.48 miles of track. Rental based upon an agreed rate per car and passenger handled. Total received for year was $83,784.64, of which $41,892.32 was credited to operating expenses; the balance, the rental accrued for year, was $41,892.32.
 * Terminal Railroad Association of St. Louis:
 * Trackage, 0.86 mile, between Bridge Junction and East St. Louis, Ill. Total received for year was $3,987.36, of which $987.36 was for taxes and expenses of maintenance, and operation; the balance, the rental accrued for year, was $3,000.00.
 * Illinois Central Railroad Company:
 * Trackage, 0.87 mile, between Bridge Junction and East St. Louis, Ill. Rental based on 10 cents per car and engine. Total received for year was $6,631.10, of which $3,315.55 was credited to operating expenses; the balance, the rental accrued for year, was $3,315.66.
 * Chicago, Indiana and Southern Railroad Company:
 * Facilities between Danville and Lyons, Ill., including 5.40 miles of track, the roundhouse, water tank, and yards at Lyons, and the interlockers at Hobbs and Bemis, Ill. Rental is proportion of 5 per cent per annum on a valuation of $1,035,339.76 and expense of maintenance and operation. Total received for year was $143,716.43 of which $112,912.40 was credited to operating expenses; the balance, the rental accrued for year, was $30,804.03.
 * Elgin, Joliet and Eastern Railway Company:
 * Trackage between Lyons and Little Vermillion Mine, Ill., a distance of 2.39 miles. Rental based on an agreed rate per car and engine. Total received for year was $6,578.20, of which $3,289.10 was credited to operating expenses; the balance, the rental accrued for year, was $3,289.10.
 * The New York Central Railroad Company:
 * Trackage between Sandusky and Ransoms, Ohio, a distance of 6.80 miles. Rental based on rate of 50 cents per train mile. Total received for year was $628.70, none of which was recorded as rental.
 * Erie Railroad Company:
 * Facilities between Galion and Marion, Ohio, 20.82 miles, and between Cold Springs and Dayton, Ohio, 18.03 miles. This trackage used by the Erie Railroad Company as a second track. Facilities used also included freight and passenger station at Enon; interlocker, freight and passenger station and crossing protection at Osborn; water stations and freight and passenger stations at Caledonia and at Durbin, Ohio. For use of these facilities the Big Four was permitted to use tracks and facilities of the Erie Railroad Company between the points mentioned above. Each company bore the expense of its own tracks.
 * Telephone system between Galion and Marion and between Cold Springs and Dayton, Ohio. The rental received for year was $11,357.10, on basis of 2½ per cent of valuation of telephone system and 50 per cent of expenses of maintenance and operation.
 * Facilities at Cleveland, Ohio, including 0.34 mile of track and an interlocker. Rental based on an agreed rate per train and $115 per month for crossing watchman. Total received for year was $15,668.40, of which $7,834.20 was credited to operating expenses; the balance, the rental accrued for year, was $7,834.20.
 * The Chicago and Alton Railroad Company:
 * Trackage between Wann and Bridge Junction, Ill., a distance of 18.55 miles. The Chicago and Alton uses track of the Big Four as a second track and in addition uses the industrial tracks of the Big Four at Wood River, Ill. For the use of these tracks the Big Four was permitted the use of tracks of the Chicago and Alton in a like manner between these points. Expense of maintenance and operation prorated on car-mileage basis.
 * Pennsylvania Company as agent for the Toledo, Columbus and Ohio River Railroad Company:
 * Facilities at Columbus, Ohio, including 1.02 miles of track, crossing protections and telegraph office at Fifth Avenue. Compensation based on $3,000 per annum and a proportion of the expense of maintenance and operation. Total received for year was $5,050.29, of which $3,550.29 was credited to operating expenses; the balance, the rental accrued for year, was $1,500.00.
 * Facilities at Sandusky, Ohio, including 1.72 miles of track, signal system, and crossing protection. Total received for year was $6,000, of which $3,000 was credited to operating expenses; the balance, the rental accrued for year, was $3,000.00.
 * The Baltimore and Ohio Southwestern Railroad Company:
 * Trackage, 0.34 mile, at Columbus, Ohio. Total received for year was $1,093.18, of which $697.52 was credited to operating expenses; the balance, the rental accrued for year, was $395.66.
 * Facilities at Columbus, Ohio, consisting of 1.48 miles of track and an interlocker. Rental received for year was $15,026.40. Maintenance of track divided between the users on a train basis.
 * The Toledo and Ohio Central Railway Company:
 * Trackage, 0.08 mile, at Columbus, Ohio. Rental received for year was $43.37 on basis of 2½ per cent per annum on valuation of $1,035 and $25.92 was received as proportion of expenses of maintenance.
 * Dayton and Union Railroad Company:
 * Facilities at Union City, Ohio, including 0.13 mile of track, engine house, office, passenger and freight station, and crossing protection. Total received for year was $3,000, of which $1,500 was credited to operating expenses; the balance, the rental accrued for year, was $1,500.00.
 * Chicago and Eastern Illinois Railroad Company:
 * Facilities at Terra Haute, Ind., including 1.46 miles of track and an interlocker. Total received for year was $930, of which $465 was credited to operating expenses; the balance, the rental accrued for year, was $465.00.
 * The Lake Erie and Western Railroad Company:
 * Trackage, 1.02 miles, at Indianapolis, Ind., used as a second track by the lessor under an agreement whereby the Big Four was permitted to use 0.94 mile of adjacent track of the Lake Erie and Western in a like manner.
 * The Illinois Central Railroad Company:
 * Trackage, 0.03 mile, at Indianapolis, Ind. Total received for year was $1,200, of which $600 was credited to operating expenses; the balance, the rental accrued for year, was $600.00.
 * The Indianapolis Union Railway Company:
 * Facilities at Indianapolis, Ind., including 0.36 mile of track, a telegraph office, crossing protection, and interlocker. Total received for year was $7,379.44, on basis of agreed rate per car, none of which was recorded as rent.
 * The Cincinnati, Hamilton and Dayton Railway Company:
 * Trackage, 0.88 mile, at Indianapolis, Ind. Rental based on 5 per cent per annum on valuation of the tracks and expense of maintenance and operation, divided on wheelage basis. Rental accrued for year was $8,571.09, of which $5,345.87 was credited to operating expenses; the balance, the rental accrued for year, was $3,225.22.
 * Chicago, Indiana and Southern Railroad Company:
 * Facilities at Danville, Ill., including 0.90 mile of track, track scales, stock pens, sugar warehouse, interlocker, and freight and passenger station. Compensation based on 42.97 per cent of 5 per cent per annum on a valuation of $408,590.55 and 24.74 per cent of expense of maintenance and operation. Total received for year was $38,067.38, of which $28,832.64 was credited to operating expenses; the balance, the rental accrued for the year, was $9,234.74.
 * Louisville & Nashville Railroad Company:
 * Trackage, 0.17 mile, at East St. Louis, Ill. Rental based on 10 cents per car. Total received for year was $120.60, of which $60.30 was credited to operating expenses; the balance, the rental accrued for one year, was $60.30.
 * The Chesapeake and Ohio Railway Company:
 * Trackage between Storrs and Cincinnati, Ohio, a distance of 0.63 miles. Total received for year was $22,275.80, of which $11,481.10 was credited to operating expenses; the balance, the rental accrued for year, was $10,794.70.
 * The Cincinnati, New Orleans & Texas Pacific Railway Company:
 * Trackage, 0.99 mile, at Cincinnati, Ohio. Compensation based on annual rental of $10,000 and $90 per month for expenses. Total received for year was $11,032.56, of which $1,382.56 was credited to operating expenses; the balance, the rental accrued for year, was $9,650.00.
 * The Baltimore and Ohio Southwestern Railroad Company:
 * Facilities at Cincinnati, Ohio, including 1.22 miles of track and crossing protection, foot bridge, and interlocker. Compensation based on annual rental of $10,000 and 3 per cent per annum on valuation of $23,616.98 on 0.23 mile of track. Total received for one year was $10,708.60, of which $5,354.30 was credited to operating expenses.
 * Illinois Central Railroad Company:
 * Trackage, 0.46 mile, at Eldorado, Ill. Total received for year was $500, of which $300 was credited to operating expenses; the balance, the rental accrued for year, was $200.00.
 * Trackage, 1.11 miles, at Mound City, Ill. Rental based on $1 per car. Total received for year was $297, of which $148.50 was credited to operating expenses; the balance, the rental accrued for year, was $148.50.
 * Peoria Railway Terminal Company:
 * Facilities at Pekin, Ill., including 0.94 mile of track, 0.23 mile of sidings and other tracks, water station, and crossing protections. Compensation based on annual rental of $1,500 and an agreed rate per car and engine. Total received for year was $5,000, of which $1,750 was credited to operating expenses; the balance, the rental accrued for year, was $3,250.00.
 * The Lake Erie and Western Railroad Company:
 * Trackage, 0.01 mile, at Rushville, Ind., not classed as main track. Total rental received for year was $120.00.
 * Various carriers:
 * About 109 other facilities of minor importance that the Big Four used jointly, in addition to the foregoing, with other carriers consisting principally of interlockers, crossings, crossing protection, passenger and freight stations, water stations, interchange facilities, and eight segments of tracks aggregating 2.65 miles.
 * Jointly used but not owned, owned by—
 * The Baltimore and Ohio Southwestern Railroad Company:
 * Trackage between North Vernon and Jeffersonville, Ind., a distance of 52.10 miles. Payment based on annual rental of $27,500 and proportion of expenses of operation and taxes divided on a car-mileage basis. Total payment for year was $97,119.30, of which $48,697.52 was charged to operating expenses; the balance, the rental accrued for year, was $48,421.78.
 * Trackage between Ludlow Grove and Cincinnati, Ohio, a distance of 5.90 miles. Total payment for year was $45,000, based on a fixed annual compensation, of which $27,000 was charged to operating expenses; the balance, the rental accrued for year, was $18,000.00.
 * The Lake Erie and Western Railroad Company:
 * Facilities between La Fayette and Templeton, Ind., a distance of 18.67 miles, with the exception of tracks and facilities at La Fayette. Rental based on 3 per cent per annum on valuation of $696,139.40 and 4½ per cent per annum on valuation of $62,890.36 and a proportion of expenses of operation and taxes, prorated upon car-mileage basis. Total payment for year was $67,851.51, of which the rental accrued for the year was $29,873.96.
 * Trackage, 0.29 mile, at Rushville, Ind. Rental accrued for year was $750.00
 * Trackage, 0.94 mile, at Indianapolis, Ind., used as second track by the Big Four. Track parallels track of the Big Four. Used under an agreement whereby the Lake Erie and Western used adjacent track of the Big Four in a like manner. No amounts recorded by the Big Four as having been paid or received for use of tracks.
 * The Toledo and Ohio Central Railway Company:
 * Facilities between Berwick and Stanley, Ohio, 43.60 miles, including tracks, signal system, Toledo Terminal facilities, Stanley interlocker, and depot at Fostoria. Rental based on 2 ¼ per cent per annum on valuation of $965,602.75, for track from Berwick to Toledo terminal; 5 per cent per annum on valuation of $4,523.91, for connecting track at Stanley, Ohio; a car basis proportion of 4 ½ per cent per annum on valuation of $502,60.84 for track north of Toledo terminal crossing; 50 cents per car for all bad-order cars; 65 per cent of passenger fares between Toledo and Fostoria, Ohio; 25 per cent of passenger fares between Fostoria and Berwick; proportion of maintenance of facilities divided on a car and engine mileage basis; and five-elevenths of cost of maintaining and operating interlocker at Stanley, Ohio. Total payment for year was $254,733.89, of which $208,408.90 was charged to operating expenses; the balance, the rental accrued for the year, was $46,324.99.
 * The Toledo Terminal Railroad Company:
 * Trackage, 0.89 mile, between Stanley and Walbridge, Ohio. Payment based on charge of $1 per train for all trains of the Big Four operated over the line. Total payment for year was $1,981, of which $990.50 was charged to operating expenses; the balance, the rental accrued for year, was $990.50.
 * The Hocking Valley Railway Company:
 * Trackage, 1.67 miles, between Walbridge and Rockwell Junction, Ohio. Rental based on charge of 75 cents per train each way. Total payment for year was $1,662, of which $914.10 was charged to operating expenses; the balance, the rental accrued for year, was $747.90.
 * The New York Central Railroad Company:
 * Facilities between Rockwell Junction and Toledo, Ohio, including 2.56 miles of track, interlockers, telegraph office, passenger station, freight stations, and engine house at Toledo, Ohio. For use of 2.56 miles of track the Big Four paid $1.25 per train each way. For use of interlockers and telegraph offices, it paid proportion of expenses of operation and maintenance, divided on a train basis; for passenger station, 6 per cent per annum on valuation of $625,310.49 all taxes and expenses of passenger station being divided on a train basis; 5 per cent per annum on valuation of freight office and a portion of expenses of freight office, divided on an item basis; 5 per cent on valuation of freight house and transfer and a proportion of freight house and transfer expenses, divided on a tonnage basis; 5 per cent on valuation of team tracks and a proportion of the expenses of team tracks, divided on car basis. Obtainable records do not disclose the valuation used for the freight office, freight house, and transfer and team tracks. Total payment for year was $47,916.06, of which $39,777.99 was charged to operating expenses; the balance, the rental accrued for year, was $8,138.07.
 * The Cincinnati Northern Railroad Company:
 * Facilities between Carlisle Junction and Franklin Junction, Ohio, including 2.31 miles of track, crossing protection, interlocker and passenger station at Franklin, Ohio. Compensation based on 5 per cent per annum on valuation of $194,905 and a proportion of the expenses of maintenance and operation of facilities used, divided on a train basis. Total payment for year was $8,423.11, of which $4,344.41 was charged to operating expenses; the balance, the rental accrued for year, was $4,078.70.
 * The Peoria and Pekin Union Railway Company:
 * Facilities between Pekin and Peoria, Ill., a distance of 8.96 miles including tracks, freight station, passenger station and facilities at Peoria. Compensation based on annual rental of $22,500, a proportion of expense of maintenance and operation and two-thirds of local passenger receipts. Total payment for year was $35,075.08, of which $12,426.56 was charged to operating expenses; the balance, the rental accrued for year, was $22,648.52.
 * Terminal Railroad Association of St. Louis:
 * Trackage, 8.90 miles, between Granite City, Ill., and St. Louis, Mo., and trackage, 3.18 miles, between Granite City, Ill., and St. Louis, Mo., with like amounts of second track in each case. Also the Eads bridge and the Merchants bridge and the Washington Avenue and Union passenger stations in St. Louis, Mo. Compensation based upon rate on passenger cars, and a proportion of expense of maintenance and operation, divided on wheelage basis. Total payment for year was $140,594.22, of which $80,506.31 was charged to operating expenses; the balance, the rental accrued for year, was $60,087.91.
 * The Indianapolis Union Railway Company:
 * Facilities at Indianapolis, Ind., including 10.44 miles of track with a like amount of second track, a passenger station, interlocker, and crossing protection. Compensation based upon proportion of expense of maintenance and operation, divided on wheelage basis, and in addition thereto an equal proportion with other tenants of 7 per cent per annum on investment in property of the lessor, 4½ per cent per annum on $1,000,000 in bonds and 1 per cent per annum for redemption of bonds. Total payment for year was $209,562.56, of which $88,586.59 was charged to operating expenses; the balance, the rental accrued for year was $120,975.97.
 * The Central Union Depot and Railway Company of Cincinnati:
 * Facilities at Cincinnati, Ohio, including 0.24 mile of track and passenger station. Payment based on fixed rent of $18,000 per annum and a proportion of expenses of maintenance, operation, and taxes. Total payment for year was $82,298.58, of which $57,976.60 was charged to operating expenses; the balance, the rental accrued for year, was $24,321.98.
 * Vandalia Railroad Company:
 * Facilities at Vincennes, Ind., including 1.28 miles of tracks, freight station and yards. Payment based on 2½ per cent per annum on valuation of $38,638.41, 50 per cent of expenses of crossing protection and 37½ per cent of all other costs. Total payment for year was $14,254.03, of which $12,791.22 was charged to operating expenses; the balance, the rental accrued for year, was $1,462.81.
 * Louisville & Nashville Railroad Company:
 * Facilities between Howell and Evansville, Ind., including 2.20 miles of track, yards at Howell, passenger station, freight station, and facilities at Evansville. Payment based upon proportion of 5 per cent per annum on a valuation of $681,887.55 and expense of maintenance and operation. Total payment for year was $44,450.64, of which $41,334.26 was charged to operating expenses; the balance, the rental accrued for year, was $3,116.38.
 * Illinois Central Railroad Company:
 * Facilities between Kankakee and Chicago, Ill., 54.43 miles and the freight and passenger facilities in Chicago. Used under contract dated January 24, 1886, whereby it was agreed among many other things that the Illinois Central would give to the Big Four all controllable freight and passenger business originating or passing through Chicago and destined to points south and east of Kankakee between Kankakee and Cincinnati, or Louisville, and that the Big Four would give to the Illinois Central between Kankakee and Chicago during the continuance of the agreement all such freight and passenger business as it can control originating on or passing over its lines, destined to Chicago or points north or west of Chicago; each party to the agreement to furnish the other, in preference to other lines, all additional business for points reached by their respective roads and connections which they can control, provided rates are equal. The passenger and freight revenues accruing on shipments hauled over this line were to be divided on a mileage basis and the Big Four was to use the facilities of the Illinois Central in Chicago free of charge.
 * Facilities at Louisville, Ky., including 0.55 mile of track and the passenger station. Compensation based on proportion of 5 per cent per annum on a valuation of $1,169,422.12 and expense of maintenance, operation and taxes. Total payment for year was $11,689.50, of which $4,089.91 was charged to operating expenses; the balance, the rental accrued for year, was $7,599.59.
 * The St. Louis & Jeffersonville Bridge Company- [sic] Louisville & Jeffersonville Bridge Company:
 * Entire property between Louisville, Ky., and Jeffersonville, Ind., including 2.58 miles of track. Rental accrued for year, based on two-thirds of net deficit of the lessor, was $143,686.11.
 * The Pittsburgh, Cincinnati, Chicago & St. Louis Railway Company and The Cincinnati, Hamilton and Dayton Railway Company:
 * Facilities at Dayton, Ohio, including 1.29 miles of track used jointly with The Pittsburgh, Cincinnati, Chicago & St. Louis and the Cincinnati, Hamilton and Dayton in conjunction with 0.13 of a mile of track of the Cincinnati, Hamilton and Dayton. The Big Four also uses another track of the Cincinnati, Hamilton and Dayton as second track, 1.60 miles in length, and a crossing protection of that company. Payment to The Pittsburgh, Cincinnati, Chicago & St. Louis Railway Company was based on 5 per cent per annum on valuation of $55,882.40 and payment to the Cincinnati, Hamilton and Dayton by whom all tracks were maintained was a proportion of cost of maintenance, divided on wheelage basis. Total payment for year was $20,420.45, of which $17,626.33 was charged to operating expenses; the balance, the rental accrued for year, was $2,794.12.
 * The Cincinnati, Hamilton and Dayton Railway Company:
 * Trackage, 0.88 mile, at Indianapolis, Ind. Rental based on 5 per cent on valuation, other costs being divided on a wheelage basis. Total payment for year was $3,864, of which $3,609 was charged to operating expenses; the balance, the rental accrued for year, was $255.00.
 * Chicago and Alton Railroad Company:
 * Facilities between Wann and Bridge Junction, Ill., 17.69 miles, including tracks and signals. Tracks parallel those of the Big Four and are used as second track by the Big Four. For use of these facilities the Chicago and Alton was permitted to use the tracks and facilities of the Big Four in a like manner, between those points, the expense of maintenance and operation being prorated on a car basis, no rental feature being involved in the arrangement.
 * Union Depot Company (Columbus, Ohio):
 * Facilities at Columbus, Ohio, including 0.60 of a mile of track and passenger station. Trackage used as second track by the Big Four. Payment based on proportion of 8 per cent per annum on $74,597.50 of capital stock, interest on mortgage bonds, $675 per annum for a sinking fund and expense of maintenance and operation and taxes. Total payment for year was $48,200.75, of which $32,537.08 was charged to operating expense; the balance, the rental accrued for year, was $15,663.67.
 * The Dayton Union Railway Company:
 * Facilities at Dayton, Ohio, including 1.08 miles of track, used as second track by the Big Four, the Union passenger station, Interlockers, and crossing. Payment based on proportion divided on a passenger-train basis with other tenants, of 7 per cent per annum on capital stock, 5 per cent per annum on ground rental, interest on outstanding bonds, 1 per cent per annum to sinking fund, expense of maintenance and operation, and taxes. Total payment for year was $31,646.23, of which $14,528.72 was charged to operating expenses; the balance, the rental accrued for year, was $17,117.51.
 * Erie Railroad Company:
 * Facilities between Galion and Marion, Ohio, 20.90 miles, and between Cold Springs and Dayton, Ohio, 18.03 miles. Trackage used as second track by the Big Four as it parallels that of the Big Four. Other facilities used were freight and passenger station and crossing protection at Caledonia, freight and passenger station at Martel, crossing at Marion, interlocker at Galion, engine house at Dayton, and automatic block-signal system. For use of these facilities, the Erie Railroad was permitted to use the tracks and facilities of the Big Four between those points in a like manner, each company bearing the expense of its own tracks. The Erie Railroad however, paid 2½ per cent per annum on valuation of the telephone system of the Big Four and 50 per cent of its maintenance and operation.
 * Various carriers:
 * In addition, the Big Four uses jointly with their owners approximately 84 other facilities of minor importance, consisting of interlockers, crossings, targets, passenger and freight stations, water stations, and interchange facilities.
 * Not owned, operated as agent
 * Owned by the Kankakee and Seneca Railroad Company:
 * Under contract of July 26, 1881, the Big Four operates, as agent, the entire property of the Kankakee and Seneca, extending from Kankakee to Seneca, Ill., 42.260 miles.

Lessor Companies

 * Vernon, Greensburg and Rushville
 * Columbus, Hope and Greensburg
 * Cincinnati, Lafayette and Chicago
 * Peoria and Eastern
 * Evansville, Mt. Carmel and Northern
 * Saline Valley Railway
 * Cincinnati, Sandusky and Cleveland
 * Findlay Belt Railway
 * Mount Gilead Short Line