Wikipedia:WikiProject Trains/ICC valuations/South East and St. Louis Railway

Interstate Commerce Commission, Valuation Reports, Volume 39

Location and General Description of Property
The railroad of the South East and St. Louis Railway Company, herein called the South East and St. Louis, which is leased to and operated by the Louisville and Nashville, is a partly double-track, standard-gage line, located in the States of Illinois and Indiana, extending in a general easterly direction from East St. Louis, Ill., to Evansville, Ind., a distance of 162.171 miles of which 0.199 mile is jointly owned with another carrier, with branches in Illinois from O'Fallon Junction to O'Fallon and from McLeansboro to Shawneetown, totaling 41.883 miles. The South East and St. Louis also owns jointly with another carrier 5.306 miles of road between Cypress Junction and Shawneetown, Ill.

Introductory
The South East and St. Louis is a corporation of the State of Illinois. Its principal office as designated in its charter, is located at Chicago, Ill., but its minute books disclose that subsequent to November 7, 1882, the meetings of its stockholders and directors have been held at East St. Louis, Ill. It is controlled by the Louisville and Nashville, through ownership of the entire outstanding capital stock. The property of the South East and St. Louis has always been operated by the Louisville and Nashville, under an agreement and lease.

The South East and St. Louis does not maintain any accounting records, nor does it file annual reports with us. Therefore, nothing can be given from the accounts in connection with its finances, operations, investments, or original cost. Certain information has been obtained from the records of the Louisville and Nashville, as indicated hereinafter.

Corporate History
The South East and St. Louis was incorporated November 12, 1880, under the laws of Illinois, for the purpose of succeeding to that portion of the property of The St. Louis and South Eastern Railway Company (Consolidated) lying within the States of Illinois and Indiana. The property, rights, and franchises of that company were sold at foreclosure, a portion of the property being conveyed to the Louisville and Nashville and a portion to the South East and St. Louis. The report on The St. Louis and South Eastern Railway Company (Consolidated) is included among the reports of the predecessors of the Louisville and Nashville. The Illinois and Indiana property of The St. Louis and South Eastern Railway Company (Consolidated) was conveyed to the South East and St. Louis by deed of W. A. Whitehouse and C. W. Opdyke, dated January 27, 1881. The first board of directors of the South East and St. Louis were elected November 13, 1880.

Pursuant to the above purchase, the South East and St. Louis acquired at its organization a portion of the property, rights, and franchises of The St. Louis and South Eastern Railway Company (Consolidated). The South East and St. Louis, itself, and The St. Louis and South Eastern Railway Company (Consolidated), together with that company's predecessors, total 10 different corporations and comprise a line of corporate succession culminating in the South East and St. Louis, as at present constituted. The following chart shows the names of the corporations, the respective dates of incorporation, and for each predecessor the date of succession, the immediately succeeding corporation, and the manner of succession. Reference to each of these corporations is made in the last column by its respective number shown in the first column.

Development of Fixed Physical Property
The South East and St. Louis has neither constructed nor improved any property. The road owned by it, amounting to 203.855 miles wholly owned and 5.505 miles jointly owned, was acquired after sale at foreclosure from The St. Louis and South Eastern Railway Company (Consolidated), June 27, 1881. Of the nine corporations which comprise the line of succession culminating in the South East and St. Louis as at present constituted, six corporations did not complete the construction of any property. These six corporations were—
 * St. Louis and Southeastern Railroad Company.
 * Evansville, Carmi and Paducah Railroad Company.
 * Belleville,[sic] and O'Fallon Railroad Company.
 * The Evansville and Southern Illinois Railway Company.
 * Shawneetown and Eldorado Rail Road Company.
 * Mt. Vernon Rail Road Company.

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

Leased Railway Property
The entire property of the South East and St. Louis, with the exception of certain carrier lands and structures leased to other carriers, is operated by the Louisville and Nashville, under an agreement and a lease dated January 27, 1881, continuing for a period of 49 years. The terms of the agreement and lease are given in the chapter on leased railway property in the report on the Louisville and Nashville.

St. Louis and Southeastern Railway Company (of 1871)
There are no obtainable accounting records of the above-named company, therefore, no information can be given from the accounts in connection with its corporate operations, finances, or investments. The company was incorporated through filing with the secretaries of state of the States of Illinois and Indiana, April 11 and 15, 1871, respectively, an agreement dated February 28, 1871, for the consolidation of the properties, rights, and franchises of the St. Louis and Southeastern Railroad Company and the Evansville, Carmi and Paducah Railroad Company. The company acquired by condemnation proceedings filed with the Circuit Court, St. Clair County, Ill., on June 30, 1871, the right of way and franchises of the Belleville and O'Fallon Railroad Company.

The company owned and operated on the date of its demise, September 30, 1872, about 202 miles of railroad in the States of Ilinois and Indiana. Its main line extended from East St. Louis, Ill., to Evansville, Ind., a distance of about 161 miles, and its branch line extended from McLeansboro to Shawneetown, Ill., a distance of about 41 miles. Of the 202 miles of road owned by the company on the date of its demise, 91 miles was acquired from the St. Louis and Southeastern Railroad Company, pursuant to agreement of consolidation dated February 28, 1871. The remaining 111 miles were acquired by construction. The date construction began is not indicated in the records. The date acquired for operation was January 1, 1872. The property of the company was operated by its own organization during its entire life.

Through a consolidation agreement dated July 29, 1872, filed with the secretaries of state of the States of Illinois and of Indiana on October 18, 1872, and effective as of October 1, 1872, the property, rights, and franchises of the company were consolidated with the Nashville, Chicago and St. Louis Railroad Company; The Evansville, Henderson and Nashville Railroad Company; and the St. Louis and Southeastern Railway Company (Kentucky Division), to form The St. Louis and South Eastern Railway Company (Consolidated).

Evansville, Carmi and Paducah Railroad Company
There are no obtainable accounting records of the above-named company. Therefore, no information can be given from the accounts in connection with its finances or investments. The company was incorporated June 9, 1869, under a general act of the State of Indiana. It owned no completed railroad on the date of demise, but had performed some construction work, the extent and location whereof can not be determined from the records. Through a consolidation agreement dated February 28, 1871, filed with the secretaries of the States of Illinois and of Indiana, April 11 and 15, 1871, respectively, the property, rights, and franchises of the company were consolidated with the St. Louis and Southeastern Railroad Company to form the St. Louis and Southeastern Railway Company.

St. Louis and Southeastern Railroad Company
There are no obtainable accounting records of the above-named company. Therefore, no information can be given from the accounts in connection with its corporate operations, finances, or investments. The company was incorporated through the filing with the secretary of state of the State of Illinois, on April 11, 1871, articles of consolidation dated February 27, 1871, for the consolidation of the properties, rights, and franchises of The St. Louis and Southeastern Railway Company (of 1869) and The Evansville & Southern Illinois Railroad Company.

The company owned and operated on February 28, 1871, the date of demise, about 91 miles of railroad, extending from East St. Louis to Mt. Vernon, about 76 miles, and from Shawneetown to beyond Equality, about 15 miles, all in the State of Illinois. The company performed no construction work. The railroad owned and operated by it was acquired by it pursuant to consolidation agreement of February 27, 1871, from The St. Louis and Southeastern Railway Company (of 1869).

Through a consolidation agreement dated February 28, 1871, and filed with the secretaries of state of the States of Illinois and of Indiana, April 11 and 15, 1871, respectively, the property, rights, and franchises of the company were consolidated with the Evansville, Carmi and Paducah Railroad Company to form the St. Louis and Southeastern Railway Company (of 1871).

The St. Louis and Southeastern Railway Company (of 1869)
There are no obtainable accounting records of the above-named company. Therefore, no information can be given from the accounts in connection with its corporate operations, finances, or investments. The company was incorporated by a special act of the Legislature of the State of Illinois, approved March 10, 1869. The company owned and operated on February 21, 1871, the date of its demise, about 91 miles of railroad, extending from East St. Louis to Mount Vernon, about 76 miles and from Shawneetown to a point beyond Equality, about 15 miles, all in the State of Illinois. The road was partly constructed by the company's predecessors, the Shawneetown and Eldorado Rail Road Company and the Mt. Vernon Rail Road Company. The extent of the work performed by them can not be determined from the records. The company completed the construction of the railroad and opened it for operation on January 1, 1871. Through a consolidation agreement dated February 21, 1871, which was filed with the secretary of state of the State of Illinois, April 11, 1871, the property, rights, and franchises of the company were consolidated with The Evansville and Southern Illinois Railroad Company, to form the St. Louis and Southeastern Railroad Company.

Belleville and O'Fallon Railroad Company – predecessor of The St. Louis and Southeastern Railway Company (of 1869)
There are no obtainable accounting records of the above-named company. Therefore, no information can be given from the accounts in connection with its finances or investments. The company was incorporated under a special act of the Legislature of the State of Illinois, March 30, 1869. The company owned no railroad on the date of its demise, June 30, 1871. The right of way and franchises owned by the company were acquired by the St. Louis and Southeastern Railway Company (of 1871), through condemnation proceedings filed with the circuit court of St. Clair County, Ill., on June 30, 1871. The report filed with the court on July 5, 1871, by the commissioners appointed to condemn the property awarded the company $30,000 for its right of way and $100 for its franchises.

Shawneetown and Eldorado Rail Road Company – predecessor of The St. Louis and Southeastern Railway Company (of 1869)
There are no obtainable accounting records of the above-named company. Therefore, no information can be given from the accounts in connection with its finances or investments. The company was incorporated by a special act of the General Assembly of the State of Illinois, approved February 20, 1861, which was confirmed by special act of the same assembly on February 19, 1869. The corporate history return of the South East and St. Louis states that the Shawneetown and Eldorado Rail Road Company acquired "the rights of way, together with the grades, bridges, culverts, embankments, excavation, and ties, and all the material on the line of the old Shawneetown & Alton Railroad line or survey to the western boundary line of the county of Gallatin, which right extends from the Ohio River at Shawneetown to Equality, and thence to the said western boundary line of said county" No information has been obtainable from the records reviewed concerning the incorporation or organization of the Shawneetown & Alton Railroad and no corporate history data has been furnished for that company by the South East and St. Louis.

The company owned no completed railroad on the date of its demise, March 30, 1869. It began the construction of its property on February 14, 1868, but its railroad was not completed at the date of its demise. By deed dated March 30, 1869, the company conveyed its property, rights, and franchises to The St. Louis and Southeastern Railway Company (of 1869).

Mt. Vernon Rail Road Company – predecessor of The St. Louis and Southeastern Railway Company (of 1869)
There are no obtainable accounting records of the above-named company. Therefore, no information can be given from the accounts in connection with its finances or investments. The company was incorporated by a special act of the Legislature of the State of Illinois, approved February 15, 1855. The company owned no completed railroad on the date of its demise, December 23, 1869, but had performed some construction work, the extent and location of which are not indicated by the records. By deed dated December 23, 1869 (and deed of correction dated January 23, 1872), the company conveyed its property, rights, and franchises to The St. Louis and Southeastern Railway Company (of 1869).

The Evansville & Southern Illinois Railroad Company
There are no obtainable accounting records of the above-named company. Therefore, no information can be given from the accounts in connection with its finances or investments. The company was incorporated by a special act of the Legislature of the State of Illinois approved March 26, 1869. The company performed some construction work, but owned no completed railroad on the date of demise. Through a consolidation agreement dated February 21, 1871, which was filed with the secretary of state of the State of Illinois, on April 11, 1871, the property, rights, and franchises of the company were consolidated with The St. Louis and Southeastern Railway Company, to form the St. Louis and Southeastern Railroad Company.