Wikipedia:WikiProject Trains/ICC valuations/Illinois Central Railroad

Interstate Commerce Commission, Valuation Reports, Volume 46

Location and General Description of Properties
The railroad of Illinois Central Railroad Company, hereinafter called the Illinois Central, is a standard-gage steam railroad, partly single and partly double track. The owned road is located in the States of Illinois, Indiana, and Wisconsin, and road used by it under lease, in the States of Illinois, Indiana, Iowa, Nebraska, Minnesota, South Dakota, Kentucky, Tennessee, Alabama, Mississippi, and Louisiana. The operated railroad has two main lines. One extends from Chicago, Ill., to New Orleans, La., and one from Chicago, Ill., to Sioux City, Iowa; branches extend from these lines. The Illinois Central operates a network of lines which serve the major portions of the States of Illinois and Mississippi, cross the States of Kentucky, Tennessee, and Iowa, and has a number of lines therein which enter short distances into the other States mentioned. The principal cities served are Chicago, Ill., Indianapolis, Ind., St. Louis, Mo., Louisville, Ky., Memphis, Tenn., Birmingham, Ala., New Orleans, La., and Omaha, Nebr.

It uses jointly, under lease, terminal property at St. Louis, Mo., Indianapolis and Evansville, Ind., Peoria, Ill., Omaha, Nebr., Cedar Rapids, Iowa, and Albert Lea, Minn.

It wholly owns and uses 2,251.773 miles of road and wholly owns but does not use 5.309 miles of road. It also wholly uses 2,357.261 miles of road owned by other carriers, of which 21.274 miles are owned by The Mississippi Valley Company and 20.679 miles by the Louisville and Nashville Railroad Company, on which separate reports are made. The remaining road owned by lessors is described in the paragraphs below.

In addition, other road mileage, shown in appendix 1, is jointly owned with other carriers. All of the properties described below, except where otherwise stated, are leased to and operated by the Illinois Central.

Introductory
The Illinois Central is a corporation of the State of Illinois, having its principal office at Chicago, Ill. The records do not indicate that it is controlled by any individual or corporation.

It controls through 100 percent stock ownership, except as otherwise noted, the following named companies whose common-carrier property it operated on June 30, 1915, upon terms described under leased railway property: Chicago, St. Louis and New Orleans (99 percent); Dubuque and Sioux City (99 per cent); Canton, Aberdeen and Nashville, South Chicago Railroad, Chicago and Illinois Southern; St. Louis, Belleville and Southern; Meridian, Brookhaven and Natchez; Bloomington Southern; Omaha Bridge and Terminal; Blue Island Railroad; Fredonia and Reeds; Johnston City Southern; The Mississippi Valley Company.

It controls the following whose common-carrier property is operated by the Yazoo and Mississippi Valley: Louisville, New Orleans and Texas of Arkansas; Sunflower and Eastern; Helm and Northwestern; Minter City Southern and Western; Baton Rouge, Hammond and Eastern.

It controls the following which operate their own property: Yazoo and Mississippi Valley (85 percent); Central of Georgia (99 percent); Chicago, Memphis and Gulf; Dunleith and Dubuque Bridge Company; Batesville Southwestern.

It controls Kensington and Eastern which is operated jointly with a non-affiliated company.

The property of the Illinois Central has been operated by its own organization during its entire life.

Corporate History
The Illinois Central has acquired the property, rights, and franchises of 19 railroad corporations. The Illinois Central itself and those corporations, together with their predecessors, total 74 different corporations of which three underwent a change of name, and comprise the line of corporate succession, culminating in the Illinois Central as at present constituted.

The names of the corporations, the respective dates of incorporation, and for each predecessor the date and manner of succession, follow.

Development of Fixed Physical Property
The recorded mileage owned by the Illinois Central amounts to 2,276.245, of which 717.245 miles were acquired by construction and 1,559 miles by purchase. The inventoried mileage is 2,271.674. Of the 73 predecessor corporations, 39 did not construct any new mileage. The 1,341 miles of road constructed by the remaining 34 predecessors were acquired by purchase from 17 corporations; 218 miles of road, acquired from 2 corporations, were constructed by corporations not treated as predecessors of the Illinois Central. The St. Louis, Peoria and Northern Railway Company, from which 87 miles of road were acquired, is treated in the report upon The Chicago and Alton Railroad Company; The Indianapolis, Bloomington and Western Railway Company, which built 131 miles of road, acquired by Illinois Central from Chicago, Havana & Western Railroad Company, is treated in the report upon the Wabash Railway Company. The 1559 miles of road were purchased as follows: Mattoon and Evansville Railroad Company 96 miles, The Chicago and Springfield Railroad Company 109, Kankakee & South Western Railroad Company 130, The Mound City Railway Company 3, Chicago and Texas Railroad Company 76, Riverside and Harlem Railroad Company 2, Chicago, Madison & Northern Railroad Company 233, The Evansville and New Harmony Railway Company 6, Rantoul Railroad Company 74, St. Louis and Ohio River Railroad Company 17, Mounds and Olive Branch Railroad Company 11, Christopher and Herrin Railroad Company 12, St. Louis, Alton and Terre Haute Railroad Company 239, Groves and Sand Ridge Railroad Company 17, Peoria, Decatur & Mattoon Railroad Company 107, Peoria, Decatur and Evansville Railway Company 32, Indianapolis Southern Railroad Company 177, St. Louis, Peoria and Northern Railway Company 87, and Chicago, Havana & Western Railroad Company 131.

Details with respect to the construction of the property are given in the accounting report.

Leased Railway Property
The Illinois Central uses, on date of valuation, property owned by other companies and other companies use property owned by the Illinois Central. The description of the property, period and terms of use, and rental accrued and charged or credited to income, for the year ended on date of valuation, follow. In addition to the above property, the Illinois Central has assigned to it for sole use 160 stock cars and 416 refrigerator cars owned by the Mather Stock Car Company, and 136 stock cars owned by the Streets Western Stable Car Line. The leases are renewed annually and provide that the lessee pay at the rate of 25 cents per day for the use of the cars and that the lessor, in addition to the flat rental, will receive all per diem earned by the cars while on lines owned and operated by other companies. The lease of the refrigerator cars provides for a monthly rental of $13.50 per car. The Illinois Central also uses one car owned by the Standard Car Truck Company under an implied lease without any rental payment.

Lessor Companies

 * Chicago, St. Louis and New Orleans
 * Dubuque and Sioux City Railroad
 * Canton, Aberdeen and Nashville
 * South Chicago Railroad
 * Chicago and Illinois Southern
 * Saint Louis, Belleville and Southern
 * Meridian, Brookhaven and Natchez
 * Bloomington Southern
 * Omaha Bridge and Terminal
 * Blue Island Railroad
 * Fredonia and Reeds
 * Johnston City Southern

Mattoon and Evansville Railroad
This company was incorporated July 7, 1900, under the general laws of Illinois. It was controlled on date of sale, January 27, 1902, by The Mississippi Valley Company, a subsidiary holding company of the Illinois Central, through ownership of a majority of its capital stock. The property of the company was operated by the Illinois Central under lease from September 1, 1900, until date of sale.

The company owned about 96 miles of single-track, standard-gage, railroad, extending from Mattoon, Ill., to the Illinois-Indiana State line, all of which was acquired from the Peoria, Decatur and Evansville Railroad Company. Details with respect to the construction of this property are given in the accounting report.

The Chicago and Springfield Railroad
This company was incorporated July 9, 1877, under the general laws of Illinois. It was controlled on date of sale, December 15, 1902, by the Illinois Central through ownership of all of its capital stock. Its property was operated by that company under lease dated December 1, 1877, until date of sale

The company owned about 109 miles of single-track, standard-gage railroad, extending from Gilman in a southwesterly direction to Springfield, all in Illinois. All of this road was acquired from the Gilman, Clinton and Springfield Railroad Company. Details with respect to the construction of this property are given in the accounting report.

Gilman, Clinton and Springfield Railroad
This company was incorporated in the State of Illinois by special act of the legislature approved March 4, 1867. It constructed about 109 miles of single track, standard-gage railroad, extending from a connection with the Illinois Central at Gilman, Ill., in a southwestwardly direction to Springfield, Ill., and was opened for operation in September 1871. No accounting records of this company were obtained.

Kankakee & South Western Railroad
This company was incorporated under the general laws of Illinois, through articles of consolidation dated September 20, 1880, and filed September 28, 1880.

The company was controlled on date of sale, December 15, 1902, by the Illinois Central through ownership of all of its capital stock. The Illinois Central operated the property of the company until the date of sale under a lease dated August 1, 1881.

The company owned about 130 miles of single-track, standard-gage railroad, all in Illinois, of which 45 miles was acquired from The Kankakee and Southwestern Railroad Company, 42 miles from the Kankakee & Western Railroad Company, 14 miles from the Clinton, Bloomington & North Eastern Railway Company, and 20 miles by construction done by or for the Illinois Central, under its supervision. Details with respect to the construction of this property are given in the accounting report.

The Kankakee and Southwestern Railroad
This company was incorporated under the general laws of Illinois May 31, 1878. It was controlled on date of consolidation, September 28, 1880, by the Illinois Central through ownership of all of its capital stock, and its property was operated by that company from the time of completion of its line to date of consolidation.

The company owned about 45 miles of single-track, standard-gage railroad, extending from Otto to Risk, Ill., all of which was constructed during the year 1878 and the early part of 1879, the work being done by or for the Illinois Central under its supervision.

Clinton, Bloomington & North Eastern Railway
This company was incorporated August 26, 1878, under the general laws of Illinois. This company was controlled on date of consolidation, September 28, 1880, by the Illinois Central through ownership of all of its capital stock. The company owned about 14 miles of single-track, standard-gage railroad, extending from Risk to Colfax, Ill. Construction work was begun in 1879, and the railroad was completed at date of consolidation. The work was done by or for the Illinois Central under its supervision.

Kankakee & Western Railroad
This company was incorporated under the general laws of Illinois April 26, 1877. It was controlled on date of consolidation, September 28, 1880, by the Illinois Central through ownership of all its capital stock. The company owned about 42 miles of single-track, standard-gage railroad, extending from Saxony to Minonk Junction, Ill. Construction work was begun in 1879, and the railroad was completed at date of consolidation. The work was done by or for the Illinois Central, under its supervision.

Kankakee & South-Western Coal Branch Railroad
This company was incorporated May 8, 1882, under the general laws of Illinois, in the interest of the Illinois Central. It owned on date of sale, February 9, 1883, a single-track, standard-gage railroad, extending from Buckingham to Tracy, Ill., a distance of about 9 miles, the construction of which was completed about January 15, 1883. The Illinois Central advanced all the funds ($83,771.18) expended in the construction of the road, all of which were unpaid at date of sale and were assumed by the successor. Capital stock to the amount of $7,000 was authorized but never actually issued.

The Mound City Railway
This company was incorporated December 7, 1882, under the general laws of Illinois, in the interest of the Illinois Central. No accounting records were obtained.

Under indenture dated January 1, 1896, the property of the company was leased to the Illinois Central for sole operation. Prior to that date it was operated by that company without formal lease.

The company owned on date of sale, December 15, 1902, a single-track, standard-gage railroad, extending from Mounds to Mound City, Ill., about 3 miles. This road was acquired from W. K. Ackerman, successor to the purchaser at foreclosure sale from the Mound City Railroad Company.

Mound City Railroad
This company was incorporated in Illinois under a special act approved February 12, 1855. None of its records were obtained.

It owned on date of sale, January 29, 1885, about 3 miles of railroad extending from Mounds to Mound City, Ill., that was constructed by or for the company in 1855.

Chicago, Havanna & Western Railroad
This company was incorporated October 23, 1886, under the general laws of Illinois.

The Illinois Central operated the property under lease from date of organization to date of sale, December 15, 1902.

The company owned about 131 miles of single-track, standard-gage railroad, extending from Champaign to Havana, Ill., 100 miles, and from White Heath to Decatur, Ill., 31 miles. All this road was acquired from the Wabash, St. Louis & Pacific Railway Company, a predecessor of the Wabash Railway Company. Details with respect to the construction of the property are given in the accounting report.

Chicago and Texas Railroad
This company was incorporated April 13, 1893, under the general laws of Illinois.

The affairs of the company were dominated by R. S. Grant and W. O. Garrison from the inception of the company until 1897, when the Illinois Central acquired control and operated the property under lease from October 1, 1897, to date of sale, December 15, 1902.

The company owned about 76 miles of single-track, standard-gage railroad in Illinois, extending from Johnston City to East Cape Girardeau, 70 miles; McClure to Gale, 5 miles; and Murphysboro to Texas Junction, 1 mile. Of this road 6 miles were acquired by construction, 28 miles from the Grand Tower and Cape Girardeau Railroad Company, 24 miles from the Grand Tower and Carbondale Railroad Company, and 18 miles from the Chicago and Carbondale Railroad Company. Details with respect to the construction of the property are given in the accounting report.

Grand Tower and Cape Girardeau Railroad
This company was incorporated January 3, 1889, under the general laws of Illinois. No accounting records were obtained. It owned on date of sale, March 7, 1893, about 28 miles of single-track, standard-gage railroad, extending from Grand Tower to East Cape Girardeau, Ill., which was opened for operation on November 10, 1889.

Grand Tower and Carbondale Railroad
This company was incorporated March 18, 1882, under the general laws of Illinois. No accounting records were obtained. It owned on date of sale, August 1, 1893, about 24 miles of single-track, standard-gage railroad, extending from Grand Tower to Carbondale, Ill., which it acquired from the Grand Tower Mining, Manufacturing and Transportation Company February 23, 1882.

Grand Tower Mining, Manufacturing and Transportation Company formerly named Mount Carbon Coal Railroad; originally named Mount Carbon Coal Company
Mount Carbon Coal Company was incorporated in Illinois by a special act approved January 24, 1835. By a special act approved February 6, 1861, the name was changed to Mount Carbon Coal Railroad Company. A special act approved April 9, 1869, changed the name to Grand Tower Mining, Manufacturing and Transportation Company. No accounting records were obtained. It owned on date of sale, February 23, 1882, about 24 miles of single-track, standard-gage railroad, extending from Grand Tower to Carbondale, Ill., which was opened for operation in 1868.

Chicago and Carbondale Railroad
This company was incorporated January 5, 1895, under the general laws of Illinois. None of its accounting records were obtained. From the date of completion of construction, September 10, 1895, to date of sale, November 20, 1895, the property of the company was operated under lease by the Chicago and Texas Railroad Company. The company owned about 18 miles of single track, standard-gage railroad, extending from Johnston City to Carbondale, Ill.

Riverside and Harlem Railroad
This company was incorporated April 9, 1901, under the general laws of Illinois, in the interest of the Illinois Central.

On September 21, 1901, its property was leased to the Chicago, Madison & Northern Railroad Company for a rental equivalent to the net earnings of the property. The line was actually operated by the Illinois Central to date of sale to that company, December 15, 1902, as the property of the Chicago, Madison & Northern Railroad Company was also leased to the Illinois Central. No rental for the property of the company was accrued or paid.

It owned about 2 miles of single-track, standard-gage railroad, extending from a connection with the line of the Chicago, Madison & Northern Railroad Company at Parkway, Ill., to Forest Park, Ill., there connecting with the line of the then Chicago Terminal Transfer Railroad Company. The line was constructed during the year 1901.

Chicago, Madison & Northern Railroad (of 1888)
This company was incorporated under the general laws of Illinois and Wisconsin through articles of consolidation dated March 12, 1888, filed in Illinois March 30, 1888, and in Wisconsin April 25, 1888. It was controlled on date of sale, February 1, 1903, by the Illinois Central through ownership of all of its capital stock. The Illinois Central operated the property of the company under lease from date of completion of the road to date of sale.

The company owned approximately 233 miles of single-track, standard-gage railroad, extending from Chicago, Ill., to East Junction (Freeport), Ill., West Junction (Freeport), Ill., to Madison, Wis., Red Oak, Ill., to Dodgeville, Wis., and from South Addison to Addison, Ill. Of the road owned, it had acquired 173 miles from the Chicago, Madison & Northern Railroad Company (of 1887), 11 miles from the Freeport, Dodgeville & Northern Railroad Company (of Illinois), 47 miles from the Freeport, Dodgeville & Northern Railroad Company (of Wisconsin), and 2 miles from the Addison Railroad Company. All but 2 miles of this road was under construction when acquired. Details with respect to the construction of the property are given in the accounting report.

Chicago, Madison & Northern Railroad (of 1887)
This company was incorporated under the general laws of Illinois and Wisconsin through articles of consolidation dated March 30, 1887, filed in Illinois April 16, 1887, and in Wisconsin April 21, 1887. It owned on date of consolidation, March 12, 1888, about 173 miles of partly constructed standard-gage railroad between Chicago, Ill., and Madison, Wis., of which it had acquired, partly constructed, about 128 miles from the Chicago, Madison and Northern Railroad Company (of Illinois) and about 45 miles from the Chicago, Madison and Northern Railroad Company (of Wisconsin).

Chicago, Madison and Northern Railroad (of Illinois)
This company was incorporated August 2, 1886, under the general laws of Illinois, in the interest of the Illinois Central, for the purpose of constructing a standard-gage railroad from Chicago, Ill., via Freeport to a connection with a proposed line of the Chicago, Madison and Northern Railroad Company (of Wisconsin) at the Illinois-Wisconsin State line, about 128 miles. The road of the company was under construction on date of consolidation, March 30, 1887. The authorized capital stock [...]

Chicago, Madison and Northern Railroad (of Wisconsin)
This company was incorporated August 2, 1886, under the general laws of Wisconsin, in the interest of the Illinois Central, for the purpose of constructing a standard-gage railroad from a connection with a proposed railroad of the Chicago, Madison and Northern Railroad Company (of Illinois), at the Illinois-Wisconsin State line, to Madison, Wis., about 45 miles. The road of the company was under construction on date of consolidation, March 30, 1887. The authorized capital stock of the company was $12,500, but none was actually issued. The Illinois Central advanced funds amounting to $490,393.81, which were expended in the construction of the line to date of consolidation. The liability for these advances was assumed by the successor.

Freeport, Dodgeville & Northern Railroad (of Wisconsin)
This company was incorporated May 20, 1887, under the general laws of Wisconsin, in the interest of the Illinois Central, for the purpose of constructing a standard-gage railroad from a connection with the proposed line of railroad of the Freeport, Dodgeville & Northern Railroad Company (of Illinois), at the Wisconsin-Illinois State line, to Dodgeville, Wis., about 47 miles. The road was under construction on date of consolidation, March 12, 1888. The accounts of both this company and the Freeport, Dodgeville & Northern Railroad Company (of Illinois) were kept in the same set of books, and no separation was made of the accounts between the two companies.

Freeport, Dodgeville & Northern Railroad (of Illinois)
This company was incorporated May 21, 1887, under the general laws of Illinois, in the interest of the Illinois Central, for the purpose of constructing a standard-gage railroad from a connection with the proposed line of railroad of the Freeport, Dodgeville & Northern Railroad Company (of Wisconsin), at the Wisconsin-Illinois State line, to Freeport, Ill., about 11 miles. The road was under construction on date of consolidation, March 12, 1888. The accounts of both this company and the Freeport, Dodgeville & Northern Railroad Company (of Wisconsin) were kept in the same set of books, and no separation was made of the accounts between the two companies.

Addison Railroad
This company was incorporated July 22, 1890, under the general laws of Illinois, in the interest of the Illinois Central. It constructed about 2 miles of standard-gage, single-track railroad, extending from South Addison to Addison, Ill. The authorized capital stock was $5,000, none of which was actually issued. All the funds expended in the construction of its line, amounting to $18,567.27, were advanced by the Illinois Central. The liability for these advances was assumed by the successor.

The Evansville and New Harmony Railway
This company was incorporated May 27, 1881, under the general laws of Indiana, in the interest of the Peoria, Decatur and Evansville Railway Company. No accounting records were obtained. During 1881 and 1882, the road of the company, extending from Stewartsville to New Harmony, Ind., a distance of about 6 miles, was constructed by the Peoria, Decatur and Evansville Railway Company at a cost of $38,197.37 and upon completion was operated as part of that company's line.

Rantoul Railroad
This company was incorporated under the general laws of Illinois and Indiana through articles of consolidation dated June 3, 1887, filed in Illinois August 2, 1887, and in Indiana July 25, 1887, respectively. The company was controlled by the Illinois Central through ownership of all of its capital stock. Its property was operated under lease by that company from 1887 (when its gage was changed to standard) to date of sale to the Illinois Central, September 10, 1903. Accounting for operations ended in the books on June 30, 1903.

The company owned about 74 miles of single-track, standard-gage railroad, extending from Le Roy, Ill., to West Lebanon, Ind., of which it had acquired 66 miles from Le Roy & Eastern Railroad Company and 8 miles from the Lebanon & Western Railroad Company. The entire line was narrow gage when acquired but was changed to standard gage very shortly thereafter. Further details are given in the accounting report.

Le Roy & Eastern Railroad
This company was incorporated December 13, 1886, under the general laws of the State of Illinois, in the interest of the Illinois Central. It owned, on date of consolidation, June 3, 1887, about 66 miles of single-track, narrow-gage railroad extending from Le Roy, Ill., to the Illinois-Indiana State line, all of which was acquired from the Havana, Rantoul & Eastern Railroad Company. The records obtained do not disclose the issuance of any securities by the company nor any expenditures by it on the property.

Lebanon & Western Railroad
This company was incorporated January 5, 1887, under the general laws of Indiana, in the interest of the Illinois Central. It owned on date of consolidation, June 3, 1887, about 8 miles of single-track, narrow-gage railroad, extending from the Indiana-Illinois State line to West Lebanon, Ind., all of which was acquired from the Havana, Rantoul & Eastern Railroad Company. The records obtained do not disclose the issuance of any securities by the company nor any expenditures by it on the property.

Havana, Rantoul & Eastern Railroad - Predecessor of Le Roy & Eastern Railroad and of Lebanon & Western Railroad
This company was incorporated January 9, 1873, under the general laws of Illinois. None of its records were obtained. It owned and operated about 74 miles of single-track, narrow-gage railroad, extending from Le Roy, Ill., to West Lebanon, Ind., which was completed for operation on February 1, 1879. The company acquired the property, rights, and franchises of the Mississippi & Atlantic Railway Company and of the Le Roy Narrow Gauge Railroad Company on November 26, 1878, and December 10, 1878, respectively. Whether or not any construction work had been completed by either of these companies to date of sale of their properties is not of record.

Mississippi & Atlantic Railway - Predecessor of Havana, Rantoul & Eastern Railroad
This company was incorporated March 18, 1875, under the general laws of Indiana, to construct a railroad from a point in Warren County to Union City, Ind. No accounting records of this company were obtained. Whether or not any construction work had been completed to date of sale of its property, November 26, 1878, is not of record.

Le Roy Narrow Gauge Railroad - Predecessor of Havana, Rantoul & Eastern Railroad
This company was incorporated May 18, 1876, under the general laws of Illinois, to construct a railroad from Le Roy to Fisher, Ill. No accounting records were obtained. Whether or not any construction work had been completed to date of sale of the property, December 10, 1878, is not of record.

St. Louis and Ohio River Railroad, originally named Chicago, St. Louis and Ohio River Railroad
This company was incorporated June 27, 1900, under the general laws of Illinois, in the interest of the Illinois Central, as Chicago, St. Louis and Ohio River Railroad Company. On September 11, 1901, the corporate name was changed. The company owned on date of sale, November 16, 1903, about 17 miles of single-track, standard-gage railroad, extending from Reevesville to Golconda, Ill., which was constructed between 1901 and 1903. The Illinois Central advanced all the funds, $294,251.88, which were expended in construction of the line. In part liquidation of these advances the company issued $100,000 par value of capital stock to the Illinois Central and turned over to that company $20,000 of cash donations received by it in aid of the construction of its line. The $100,000 of capital stock and $174,251.88 of unpaid advances represented all the liabilities at date of sale.

Mounds and Olive Branch Railroad
This company was incorporated February 20, 1902, under the general laws of Illinois, in the interest of the Illinois Central. The company owned on date of sale, November 16, 1903, about 11 miles of single-track, standard-gage railroad, extending from Mounds, to Olive Branch, Ill. The line was constructed in 1902 and 1903. The Illinois Central advanced funds amounting to $210,348.16, which were expended in the construction of the line. Capital stock amounting to $10,000 was authorized, but none was actually issued.

Christopher and Herrin Railroad
This company was incorporated June 5, 1903, under the general laws of Illinois, in the interest of the Illinois Central. The construction of a line for the company, extending from Christopher to Herrin, Ill., a distance of about 12 miles, was started in 1903 by the Illinois Central, but was not completed at date of sale, November 16, 1903. The Illinois Central advanced all the funds, amounting to $38,101.97, which were expended in the construction of the road. Capital stock of $10,000 was authorized, but none was actually issued.

St. Louis, Alton and Terre Haute Railroad
Introductory

This company was incorporated in Indiana, June 24, 1862, and in Illinois, June 4, 1863. It was controlled on February 17, 1904, date of sale, by the Illinois Central through stock ownership. From September 1867 to November 1890 a total of 193 miles of road owned was leased to the Indianapolis and St. Louis Railway Company and sold on the latter date to another company. On October 1, 1895, the owned and leased property of the company was leased to the Illinois Central for operation. The accounting for income ended in the company's books on June 30, 1902.

The company owned about 239 miles of standard-gage railroad in Illinois, extending from East St. Louis to Eldorado, Pinckneyville to Murphysboro, Harrison Junction to Brookport, and Belleville to East Carondelet.

Development of Fixed Physical Property

Of the 239 miles of road owned by the company on date of sale, it acquired 14 miles by reorganization of The Terre Haute, Alton and St. Louis Railroad Company and 225 miles by purchase from various companies. Actually 207 miles was acquired in the reorganization, but in November 1890 a total of 193 miles was sold to the Cairo, Vincennes & Chicago Railway Company, a predecessor of The Cleveland, Cincinnati, Chicago and St. Louis Railway Company, leaving 14 miles owned on date of sale. Of the 225 miles of road purchased, the company had acquired 56 miles from The Belleville & Southern Illinois Railroad Company, 50 miles from The Belleville and Eldorado Railroad Company, 17 miles from the Carbondale and Shawneetown Railroad Company, 32 miles from The St. Louis Southern Railroad Company, 17 miles from the Belleville and Carondelet Railroad Company, and 53 miles from The Chicago, St. Louis and Paducah Railway Company. Details with respect to the construction of this property are given in the accounting report.

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The St. Louis, Alton and St. Louis Railroad - predecessor of St. Louis, Alton & Terre Haute Railroad, and the Terre Haute and Alton Railroad - predecessor of The Terre Haute, Alton and St. Louis Railroad===== The Terre Haute, Alton and St. Louis Railroad Company was incorporated under the general laws of Illinois through articles of consolidation dated October 30, 1856, filed November 13, 1856, for the purpose of acquiring the property of The Terre Haute and Alton Railroad Company incorporated in Illinois by special act January 28, 1851, and the Belleville and Illinoistown Railroad Company. The accounts of The Terre Haute, Alton and St. Louis Railroad Company and those of The Terre Haute and Alton Railroad Company were recorded in one set of books, and as any separation made would be, necessarily, arbitrary, these companies are treated herein as one.

The accounts of the company were discontinued June 30, 1859, and no records of its operations or transactions subsequent thereto were obtained. The accounting for income ended in the company's books on April 30, 1859.

The company owned and operated about 207 miles of standard-gage railroad, extending from Terre Haute, Ind., to Alton, Ill., East St. Louis to Belleville, Ill., and East St. Louis to Alton Junction, Ill. Of this road it had acquired 179 miles from The Terre Haute and Alton Railroad Company and 28 miles from the Belleville and Illinoistown Railroad Company. Details with respect to the construction of the property are given in the accounting report.

Belleville and Illinoistown Railroad
This company was incorporated in Illinois by special act approved February 12, 1849. None of its accounting records were obtained. It constructed about 28 miles of railroad in Illinois, extending from East St. Louis to Belleville, about 14 miles, and from East St. Louis to Alton Junction, about 14 miles. The former section was opened for operation in 1854 and the latter section in 1856.

The records of The Terre Haute and Alton Railroad Company disclose that advances were made by it to this company for construction purposes, amounting to $173,546.47, which were unpaid at date of consolidation, November 13, 1856. That amount, together with $1,000,000 of first-mortgage 7 percent bonds, was assumed, and $325,700 of its capital stock outstanding was exchanged in the consolidation.

The Belleville & Southern Illinois Railroad
This company was incorporated in Illinois by special act approved February 14, 1857. None of its accounting records were obtained. It owned on date of sale, September 10, 1897, about 56 miles of railroad extending from Belleville to Du Quoin, Ill., the construction of which was started in 1869 and completed December 15, 1873. As the sections of the road were completed, they were turned over to the St. Louis, Alton and Terre Haute Railroad Company for operation under a lease dated October 1, 1866.

The Belleville and Eldorado Railroad
This company was incorporated under a special act of Illinois, approved February 22, 1861. None of its accounting records were obtained. It constructed about 50 miles of single-track, standard-gage railroad, extending from Du Quoin to Eldorado, Ill., during the years 1878 to 1880. From the date of completion of construction in 1880 until date of sale, September 10, 1897, the property was operated by the St. Louis, Alton and Terre Haute Railroad Company under lease dated July 1, 1880.

Carbondale and Shawneetown Railroad, formerly named the Murphysboro and Shawneetown Railroad
The Murphysboro and Shawneetown Railroad Company was incorporated in Illinois by special act approved March 7, 1867. By a special act approved March 10, 1869, the name was changed to Carbondale and Shawneetown Railroad Company. None of the accounting records were obtained. About 17 miles of single-track, standard-gage railroad, extending from Carbondale to Marion, Ill., was constructed, and opened for operation December 31, 1871. The property was leased to the St. Louis Coal Railroad Company for 25 years from November 1, 1879. On account of default in performance the lease was canceled in 1885. The property was then leased to The St. Louis Southern Railroad Company, and was operated with that company's property from December 1, 1886, until date of sale, September 10, 1897, by the St. Louis, Alton and Terre Haute Railroad Company.

The St. Louis Southern Railroad
This company was incorporated on August 3, 1886, under the general laws of Illinois.

It leased the property of the Carbondale and Shawneetown Railroad Company December 1, 1886, and on the same date all of its owned and leased property was leased to the St. Louis, Alton and Terre Haute Railroad Company for operation. The accounting for income ended in the company's books on June 30, 1897.

It owned on date of sale, September 10, 1897, about 32 miles of single-track, standard-gage railroad, extending from Pinckneyville, via Murphysboro, to Carbondale, Ill., of which 9 miles was acquired from the St. Louis Coal Railroad Company and 23 miles from the St. Louis Central Railway Company. Details with respect to the construction of this property are given in the accounting report.

St. Louis Coal Railroad
This company was incorporated October 9, 1879, under the general laws of Illinois. None of its records were obtained. It constructed about 9 miles of single-track railroad, extending from Carbondale to Harrison Junction, Ill., which was opened for operation in August 1880.

St. Louis Central Railway
This company was incorporated February 3, 1881, under the general laws of Illinois. None of its records were obtained. It owned on date of sale, October 30, 1886, about 23 miles of single-track, standard-gage railroad, extending from Pinckneyville to Murphysboro, Ill., which was constructed in the year 1881.

Belleville and Carondelet Railroad
This company was incorporated March 7, 1881, under the general laws of Illinois. None of its accounting records were obtained. It constructed about 17 miles of single-track, standard-gage railroad, extending from Belleville to East Carondelet, St. Clair County, Ill. From the date of completion of construction, in 1883, until date of sale, September 10, 1897, the property was operated by the St. Louis, Alton and Terre Haute Railroad Company under lease.

The Chicago, St. Louis and Paducah Railway
This company was incorporated February 9, 1887, under the general laws of Illinois. None of its accounting records were obtained. It constructed about 53 miles of single-track, standard-gage railroad, extending from Marion to Brookport, Ill., during the years 1887 to 1888. From January 1, 1889, the date the road was opened for operation, to date of sale, September 10, 1897, the property was operated by the St. Louis, Alton and Terre Haute Railroad Company under lease.

Groves and Sand Ridge Railroad
This company was incorporated October 9, 1902, under the general laws of Illinois in the interest of the Illinois Central. It constructed about 17 miles of standard-gage, single-track railroad, extending from Groves (Matthews Junction), Ill., in a southerly direction to Sand Ridge, Ill., in 1902-4. All the funds expended in construction, amounting to $414,403.61, were advanced by the Illinois Central. These advances were partially repaid by the issuance of $10,000 of capital stock, having $404,403.61 owing at date of sale, June 28, 1904.

Peoria, Decatur & Mattoon Railroad
This company was incorporated August 6, 1900, under the general laws of Illinois. It wholly owned about 99 miles of single-track, standard-gage railroad ånd jointly owned about 8 miles, as follows: Solely owned, Pekin to Decatur, Ill., and Hervey City to Mattoon, Ill.; owned jointly with the Terre Haute and Peoria Railroad Company, Decatur Junction to Hervey City, Ill.

The property was operated by the Illinois Central under lease from September 1, 1900, to April 8, 1905, the date of conveyance to that company.

It was controlled by The Mississippi Valley Company, a subsidiary of the Illinois Central, through ownership of a majority of its capital stock.

The road owned was acquired from the Peoria, Decatur and Evansville Railway Company in 1905.

Peoria, Decatur and Evansville Railway
Introductory

This company was a corporation of Illinois and Indiana. There were three companies of the same name, the first having been incorporated in 1879, and the other two were formed by consolidation in 1880 and 1893, whereby the property of other companies was acquired. While new companies were actually formed by each of these consolidations, the accounting records were continuous from 1880 to date of foreclosure sale of the third company. Therefore, for the purposes of this report, the three companies are considered as one.

The company operated about 241 miles of single-track, standard-gage railroad, of which 227 miles was solely owned, 8 miles jointly owned, and 6 miles leased from the Evansville and New Harmony Railway Company.

Corporate History

This company was formed under an agreement of consolidation of June 29, 1893, filed in Illinois and Indiana, August 22, 1893. Its predecessors, their incorporation, and the disposition of their property are shown under corporate history of the Illinois Central.

Development of Fixed Physical Property

Of the 235 miles of road owned, 107 miles were acquired by consolidation, 70 miles by purchase from The Grayville and Mattoon Railroad Company, and 58 miles by construction. Details with respect to the construction of this property are given in the chapter on development of fixed physical property of the Illinois Central.

Pekin, Lincoln and Decatur Railway
This company was incorporated July 26, 1876, under the general laws of Illinois. It owned and operated about 67 miles of single-track, standard-gage railroad, Pekin to Decatur, Ill. Under articles, December 8, 1879, the company was consolidated with the Decatur, Mattoon and Southern Railroad Company to form the Peoria, Decatur and Evansville Railway Company, the first company of that name.

The road was conveyed to it after foreclosure sale of The Pekin, Lincoln and Decatur Railroad Company, which constructed the road and placed it in operation in November 1871.

The Pekin, Lincoln and Decatur Railroad - predecessor of Pekin, Lincoln and Decatur Railway
None of the records of this company were obtained. It was incorporated in Illinois by special acts approved February 21, 1861, February 16, 1865, and February 22, 1867. It owned about 67 miles of railroad, Pekin to Decatur, Ill., which was opened for operation in November 1871. On April 21, 1876, its property was sold at foreclosure sale and was conveyed by deed dated September 14, 1876, to the Pekin, Lincoln and Decatur Railway Company.

Decatur, Mattoon and Southern Railroad
No accounting records of this company were obtained. It was incorporated June 27, 1878, under the general laws of Illinois. It owned about 32 miles of single-track, standard-gage railroad, Hervey City, to Mattoon, Ill. It also owned a one half interest in about 8 miles of railroad, Hervey City to Decatur Junction, Ill., all of which was formerly the property of The Decatur, Sullivan and Mattoon Railroad Company. Under articles dated December 8, 1879, Decatur, Mattoon and Southern Railroad Company and the Pekin, Lincoln and Decatur Railway Company were consolidated to form the Peoria, Decatur and Evansville Railway Company, the first company of that name.

The Decatur, Sullivan and Mattoon Railroad - predecessor of Decatur, Mattoon and Southern Railroad
No accounting records of this company were obtained. It was incorporated in Illinois by special act approved March 26, 1869. It owned about 32 miles of single-track, standard-gage railroad, Hervey City to Mattoon, Ill., the construction of which was completed in 1872. It also owned, jointly with the Paris and Decatur Railroad Company, the line Hervey City to Decatur Junction, Ill., about 8 miles. It was consolidated with the Chicago and Illinois Southern Railroad Company to form the Chicago and Illinois Southern Railway Company, by articles of consolidation dated May 6, 1872. The consolidation was set aside May 5, 1876, by the United States District Court. On March 13, 1877, its property was sold at foreclosure and conveyed to the Decatur, Mattoon and Southern Railroad Company, June 27, 1878.

The Grayville and Mattoon Railroad
No accounting records of this company were obtained. It was incorporated in Illinois by special act approved February 6, 1857. It owned about 70 miles of single-track, standard-gage railroad, Mattoon to Parkersburg, Ill., and was opened for operation in October 1876. This company and the Mount Vernon & Grayville Railroad Company consolidated to form the Chicago and Illinois Southern Railroad Company. Articles of consolidation were filed in Indiana February 20, 1871, and in Illinois February 21, 1871.

The last-named company was consolidated with The Decatur, Sullivan and Mattoon Railroad Company, under articles of consolidation dated May 6, 1872, to form the Chicago and Illinois Southern Railway Company, which was placed in the hands of receivers on January 15, 1874. On May 5, 1876, the consolidations were set aside by order of the United States District Court, and the companies involved reverted to their original status. No construction work had been done by any of the companies to that date. Subsequent to May 5, 1876, The Grayville and Mattoon Railroad Company constructed about 70 miles of railroad, Mattoon to Parkersburg, Ill. On July 2, 1880, the property was sold at foreclosure and conveyed on August 10, 1880, to the Peoria, Decatur and Evansville Railway Company, the first company of that name.

Evansville and Peoria Railway
This company was incorporated March 10, 1880, under the general laws of Indiana. Before any construction work has been done, the company was consolidated with the Peoria, Decatur and Evansville Railway Company to form the second company of that name. Articles of consolidation, dated August 18, 1880, were filed in Illinois August 23, 1880, and in Indiana August 28, 1880. The proposed line of the company was constructed by its successor.

The Chicago and Ohio River Railroad
This company was Incorporated January 27, 1873, under the laws of Illinois. It owned about 77 miles of single-track, standard-gage railroad, Sidell to West Liberty, Ill. By deed dated September 13, 1886, it acquired this property, which was formerly owned by the Danville[sic] Olney and Ohio River Railroad Company, and had been sold at foreclosure.

By articles of consolidation dated June 29, 1893, filed for record August 22, 1893, that company and the Peoria, Decatur and Evansville Railway Company consolidated to form the Peoria, Decatur and Evansville Railway Company (the third company of that name), and all of the accounts of The Chicago and Ohio River Railroad Company were taken up on the books of the Peoria, Decatur and Evansville Railway Company at that time. On January 13, 1894, receivers were appointed for the last-named company, and on September 1, 1895, all of the accounts of The Chicago and Ohio River Railroad Company were eliminated from its accounts, except a balance of $3,970.76, and new books opened therefor styled the "Chicago Division" books. Neither the "Chicago Division" books nor those of The Chicago and Ohio River Railroad Company were obtained. In 1893 the Peoria, Decatur and Evansville Railway Company took up the following securities of The Chicago and Ohio River Railroad Company as capital liabilities: Capital stock $1,500,000, first-mortgage bonds $500,000, first-mortgage bond scrip $33,480.09, and income bonds $750,000; total $2,783,480.09.

All of the accounts of the company, including its investment in road and equipment account of $1,302,551.50, were also taken up on the books of the Peoria, Decatur and Evansville Railway Company at the time of consolidation and later eliminated. It cannot be stated why the accounts were segregated and the property of this company disposed of as a separate parcel.

That part of the line of the Peoria, Decatur and Evansville Railway Company formerly owned by The Chicago and Ohio River Railroad Company was sold at foreclosure as a separate parcel and was conveyed by deed dated December 16, 1898, to The Indiana, Decatur and Western Railway Company, a predecessor of The Cincinnati, Indianapolis and Western Railroad Company.

Danville, Olney and Ohio River Railroad - predecessor of The Chicago and Ohio River Railroad
No accounting records of this company were obtained. The company was incorporated March 10, 1869, in Illinois. It owned about 77 miles of single-track, standard-gage railroad, extending from Sidell to West Liberty, Ill. The company's property was sold under foreclosure and was conveyed by special master commissioner's deed, dated February 10, 1886, to H. W. Suter and J. W. Carter, trustees for the bondholders, and by them conveyed to The Chicago and Ohio River Railroad Company by deed dated September 13, 1886.

Rockford Railroad
This company was incorporated March 2, 1906, in Illinois, in the interest of the Illinois Central Railroad, to construct a railroad in the city of Rockford, Ill. In May 1906 right-of-way in Rockford was purchased for $3,600.85. The company expended $178.60 for its charter. These amounts were advanced by the Illinois Central. On October 18, 1906, the property of the company was conveyed to the Illinois Central before any construction work had been done. After the Illinois Central acquired the property, the project was abandoned and the real estate purchased for right of way was sold. No securities were issued by the company.

Indianapolis Southern Railroad
This company was incorporated in Indiana June 28, 1906, and in Illinois June 29, 1906. It was controlled on date of sale by the Illinois Central through ownership of its capital stock. The company owned and operated a single track, standard-gage railroad, extending from Effingham, Ill., to Indianapolis, Ind., about 177 miles; it also operated the property of the Bloomfield Southern Railroad Company, consisting of about 2 miles of road extending from Bloomington, Ind., under lease dated June 20, 1907. On July 1, 1908, the company defaulted in payment of interest on its bonds, and the property was sold at foreclosure to the Illinois Central May 5, 1911, and conveyed by special master's deeds dated May 22, 1911, and July 1, 1911, respectively. The effective date of sale in the accounting records was June 30, 1911, and is so treated in this report.

The road owned was acquired through consolidation of the properties of The Indianapolis Southern Railway, which owned about 89 miles of road, and the Illinois and Indiana Railroad Company, which owned about 88 miles of road. Further details are given in the accounting report on the Illinois Central.

The Indianapolis Southern Railway
This company was incorporated August 16, 1899, in Indiana by capitalists of the city of Indianapolis, herein referred to as the syndicate. It was controlled on date of consolidation, June 29, 1906, by the Illinois Central.

The company owned on the date of consolidation, a single-track, standard gage railroad, extending from Indianapolis to Switz City, Ind., about 89 miles, which was acquired by construction under contract by the Southern Construction and Equipment Company, an affiliated company. About 33 miles of this road were completed after the property was conveyed to the Indianapolis Southern Railroad Company.

Illinois and Indiana Railroad
Introductory

This company was incorporated under the general laws of Illinois and Indiana, through articles of consolidation dated December 15, 1899, filed in Illinois December 23, 1899, and in Indiana December 26, 1899. The company was controlled on date of consolidation by the Illinois Central. The records do not indicate that this company controlled any common-carrier corporation.

The property was operated by the Illinois Central under lease from January 1, 1900, to date of consolidation. The company owned, on date of consolidation, a single-track, standard-gage railroad, extending from Effingham, Ill., to Switz City, Ind., a distance of about 88 miles.

Development of Fixed Physical Property

The 88 miles of railroad owned on date of consolidation was acquired through consolidation of the Illinois and Eastern Railroad Company and the Indiana and Western Railroad Company. Further details are given in the accounting report on the Illinois Central.

Illinois and Eastern Railroad
No accounting records of this company were obtained. It was incorporated August 19, 1899, in Illinois to acquire from John C. Welling, trustee, that part of the railroad of The St. Louis, Indianapolis and Eastern Railroad Company in Illinois, extending from Effingham, Ill., to the Illinois Indiana State line, about 57 miles. On November 15, 1899, John C. Welling, trustee, conveyed the property to this company.

By agreement dated December 15, 1899, filed in Illinois December 23, 1899, and in Indiana December 26, 1899, this company and the Indiana and Western Railroad Company were consolidated to form the Illinois and Indiana Railroad Company. So far as ascertainable, no construction work was done by this company. The property of this company and that of the Indiana and Western Railroad Company were operated by the Illinois Central from July 1, 1899, to December 31, 1899, as agent for the trustee.

Indiana and Western Railroad
No accounting records of this company were obtained. It was incorporated October 3, 1899, in Indiana to acquire from John C. Welling, trustee, that part of the railroad of The St. Louis, Indianapolis and Eastern Railroad Company in Indiana, extending from the Indiana-Illinois State line to Switz City, Ind., about 31 miles. On November 15, 1899, John C. Welling, trustee, conveyed the property to this company. By agreement dated December 15, 1899, filed in Illinois December 23, 1899, and in Indiana December 26, 1899, this company and the Illinois and Eastern Railroad Company were consolidated to form the Illinois and Indiana Railroad Company. So far as ascertainable, no construction work was done by this company. The property of this company and that of the Illinois and Eastern Railroad Company were operated by the Illinois Central from July 1, 1899, to December 1, 1899, as agent for the trustee.

=
The St. Louis, Indianapolis and Eastern Railroad - predecessor of Illinois and Eastern Railroad and of Indiana and Western Railroad; The St. Louis, Indianapolis and Eastern Rail Road of Indiana; The St. Louis, Indianapolis and Eastern Rail Road of Illinois - predecessors of The St. Louis, Indianapolis and Eastern Railroad; The Indiana and Illinois Southern Railroad - predecessor of The St. Louis, Indianapolis and Eastern Rail Road of Indiana and The St. Louis, Indianapolis and Eastern Railroad of Illinois======

Introductory

The above-named companies were successors one to the other, as shown above, and the accounts for The Indiana and Illinois Southern Railroad Company, hereinafter called The Indiana and Illinois Southern Railroad Company (of 1886) were opened in May 1886 and continued to June 30, 1899, irrespective of the corporate changes. On account of this condition, these companies will be considered in the one report.

The St. Louis, Indianapolis and Eastern Railroad Company owned and operated on date of sale, November 15, 1899, a standard-gage railroad, extending from Effingham, Ill., to Switz City, Ind., a distance of about 88 miles.

Corporate History

The Indiana and Illinois Southern Railroad Company (of 1886) was incorporated in Illinois, May 20, 1886. In 1890 after sale at foreclosure, part of its property was conveyed to The St. Louis, Indianapolis and Eastern Rail Road Company, of Indiana, incorporated in Indiana November 2, 1889, and the remainder to The St. Louis, Indianapolis and Eastern Rail Road Company, of Illinois, incorporated in Illinois October 30, 1889. The St. Louis, Indianapolis and Eastern Railroad Company was incorporated in Indiana and Illinois through articles of consolidation dated February 8, 1890, filed in Indiana February 11, 1890, and in Illinois February 12, 1890, for the purpose of acquiring the property of The St. Louis, Indianapolis and Eastern Rail Road Company, of Indiana and The St. Louis, Indianapolis and Eastern Rail Road Company, of Illinois.

Development of Fixed Physical Property

All of the 88 miles of road owned was constructed by predecessors of The Indiana and Illinois Southern Railroad Company (of 1896). Details with respect to the construction of this property are given in the accounting report. The railroad as constructed was narrow gage, but was widened to standard gage in 1887 by The Indiana and Illinois Southern Railroad Company (of 1886).

The Bloomfield Railroad - predecessor of The Indiana and Illinois Southern Railroad (of 1886)
No accounting records of this company were obtained. The company was incorporated October 10, 1874, under the general laws of Indiana. It owned a single-track, narrow-gage railroad, extending from the Illinois-Indiana State line at the Wabash River, eastwardly to Switz City, Ind., a distance of about 31 miles. The construction work was started by Fairchild and Davis, contractors, in 1878, under contract dated July 7, 1875, and was completed in 1880 by the Cincinnati, Effingham and Quincy Construction Company, under contract dated August 12, 1878. According to the corporate records, this company issued in settlement of construction work $600,000 par value of its capital stock and $300,000 par value of its first-mortgage 30-year 7 percent bonds, dated October 1, 1875. The records of its successor, The Indiana and Illinois Southern Railroad Company (of 1886), disclose that an amount of $52,879.91, representing expenditures for additions and betterments, were transferred to that company's books in the consolidation.

The Indiana and Illinois Southern Railroad (of 1882) - predecessor of The Indiana and Illinois Southern Railroad (of 1886)
For this company, no accounting records were obtained. The company was incorporated November 29, 1882, under the general laws of Illinois. On January 27, 1883, this company acquired the property of the Springfield, Effingham and South Eastern Railroad Company, which consisted of a narrow gage railroad, extending from the Indiana-Illinois State line at the Wabash River, westwardly to Effingham, Ill., a distance of about 57 miles. According to the minutes, capital stock of $800,000 par value was issued to holders of $1,200,000 par value of stock of the Springfield, Effingham and South Eastern Railroad Company and first-mortgage 7-percent bonds of $360,000 par value of the latter company were assumed in the acquisition of the property. The records of its successor, The Indiana and Illinois Southern Railroad Company (of 1886), disclose that an amount of $32,886.69, representing expenditures for additions and betterments, was transferred to that company's books in consolidation.

Springfield, Effingham and South Eastern Railroad — predecessor of The Indiana and Illinois Southern Railroad (of 1882)
No accounting records of this company were obtained. The company was incorporated in the State of Illinois under a special act approved March 10, 1869. It owned a single-track, narrow-gage railroad, extending from the Indiana-Illinois State line, at the Wabash River, westwardly to Effingham, Ill., a distance of about 57 miles. The road was constructed by the Cincinnati, Effingliam and Quincy Construction Company during the years 1878, 1879, and 1880, and the property was opened for operation October 20, 1880. According to the minutes, capital stock of $1,200,000 par value and first-mortgage 30-year 7 percent bonds of $360,000 par value, dated January 1, 1878, were issued to the construction company in settlement of construction work. The minutes of the successor, The Indiana and Illinois Southern Railroad Company (of 1882), state that the above-mentioned stock was exchanged for $800,000 par value of stock of the last-named company and that the bonds were assumed. This stock of the last-named company and the bonds both appear in the accounts of the next successor, The Indiana and Illinois Southern Railroad Company (of 1886).