Wikipedia:WikiProject Trains/ICC valuations/Iowa Southern Railway

Interstate Commerce Commission, Valuation Reports, Volume 137

Location and General Description of Property
The railroad of the Iowa Southern Railway Company, herein called the Iowa Southern, is a single-track line located entirely within the State of Iowa, extending from Miami to Consol, 12.241 miles.

Introductory
The Iowa Southern is a corporation of the State of Iowa, having its principal office at Des Moines, Iowa, and its general administrative office at Chicago, Ill. It is controlled by the North Western, through ownership of the entire outstanding capital stock. On the other hand, the records do not indicate that this company controls any common-carrier corporation. The property has always been operated by the North Western.

Corporate History
The Iowa Southern was incorporated January 18, 1913, under the general laws of the State of Iowa, for the purpose of constructing and operating a railroad from Section Seven to Section Eighteen, in Monroe County, Iowa, a distance of about 25 miles. The date of organization was January 27, 1913.

Development of Fixed Physical Property
The owned mileage of the Iowa Southern, extending from Miami to Consol, Iowa, 12.241 miles, was acquired by construction during the years 1913 and 1914.

Leased Railway Property
The entire property of the Iowa Southern is leased to the North Western for a term of 25 years from July 1, 1914. The terms of the lease and the rental accrued for the year ending on date of valuation are given in the chapter on leased railway property in the report on the North Western. Under the terms of the agreement between the North Western and The Western Union Telegraph Company, dated April 1, 1898, the Iowa Southern grants the joint use of its telegraph line to The Western Union Telegraph Company.