Wikipedia:WikiProject Trains/ICC valuations/Evansville, Mt. Carmel and Northern Railway

Interstate Commerce Commission, Valuation Reports, Volume 28

Location and General Description of Property
The railroad of The Evansville, Mt. Carmel and Northern Railway Company, herein called the Evansville, Mt. Carmel and Northern, is a standard-gage, steam railroad, located in the southwestern part of Indiana and the southeastern part of Illinois. Its owned mileage extends southerly from Mt. Carmel, Ill., to Evansville, Ind., a distance of 32.564 miles.

The Evansville, Mt. Carmel and Northern owns but does not use 37.222 miles of all tracks, all of which are leased to and operated by the Big Four.

Corporate History
The Evansville, Mt. Carmel and Northern, was incorporated on August 1, 1906, under the general laws of Indiana for the purpose of constructing, owning, and maintaining a railroad from Evansville, Ind., to the Indiana-Illinois State line, a distance of about 30 miles. By deed dated October 17, 1910, the Evansville, Mt. Carmel and Northern acquired the franchises and property of The Evansville, Mt. Carmel and Northern Railway Company (of Illinois). The principal office is at Evansville, Ind.

The only predecessor of the Evansville, Mt. Carmel and Northern was the Evansville, Mt. Carmel and Northern Railway Company (of Illinois). The latter was incorporated on November 7, 1906, and its property was conveyed to the Evansville, Mt. Carmel and Northern by a deed dated October 17, 1910, but the books indicate that the transfer was actually made in March, 1911.

Development of Fixed Physical Property
The railroad owned by the Evansville, Mt. Carmel and Northern on date of valuation, was acquired as follows: Total, 32.564 miles.
 * By purchase from the Evansville, Mt. Carmel and Northern (of Illinois), a partially completed railroad, Mt. Carmel, Ill., to Illinois-Indiana State line, 2.440 miles.
 * By construction — Illinois-Indiana State line to Evansville, Ind., 30.124 miles.

The railroad from the Illinois-Indiana State line to Evansville, Ind., was constructed by Walsh Construction Company of Davenport, Iowa, King Bridge Company of Cleveland, Ohio, McClintic Marshall Construction Company of Pittsburgh, Pa., and E. L. House of Chicago, Ill. These were independent contractors and were not interested in the Evansville, Mt. Carmel and Northern. The contracts contained no unusual provisions. The entire line from Evansville, Ind., to Mount Carmel, Ill., was opened for operation on July 1, 1911.

Leased Railway Property
On date of valuation, the property of the Evansville, Mt. Carmel and Northern was being solely operated by the Big Four under an agreement dated November 1, 1910. While the agreement provided that the Big Four should pay as rental a portion of the operating expenses, taxes, and interest upon the bonds of the lessor, on a car-mileage basis, the Big Four was the only carrier using the tracks and facilities of the Evansville, Mt. Carmel and Northern; therefore, it has paid all expenses including taxes and interest on the Evansville, Mt. Carmel and Northern outstanding bonds.