Wikipedia:WikiProject Trains/ICC valuations/Wabash Railway

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The property of the Wabash, with the exception of 3.864 miles leased to the Illinois Terminal Railroad Company, was operated by its own organization from November 1, 1915, until December 31, 1917. On January 1, 1918, its common-carrier property was taken over for operation by the United States Railroad Administration, which still operates it on date of valuation.

The Wabash was incorporated on October 22, 1915, under the general laws of
 * CORPORATE HISTORY

The foregoing does not include the following six additional corporations whose properties, aggregating 512.17 miles, were at one time a part of The Wabash, St. Louis and Pacific Railway Company but which now form a part of the Illinois Central Railroad Company, the Cleveland, Cincinnati, Chicago and St. Louis Railway Company, and the Chicago, Peoria and St. Louis Railroad Company.

The recorded mileage owned by the Wabash amounts to 1,949.45 miles, of which 1,949.19 miles was acquired by purchase and 0.26 mile by construction. The inventoried mileage is 1,950.600 miles. Of the 63 predecessor corporations, 10 did not construct or improve any property, 12 acquired property from predecessors but the records do not show that they improved such property while they owned it, 5 only improved property completed by others. The entire 1,949.19 miles acquired by purchase was acquired from The Wabash Railroad Company, through a purchasing committee, after sale under foreclosure proceedings. The 0.26 mile constructed by the Wabash consisted of a change of line, Missouri City, Mo., 1915, 0.67 mile, and change of line, De Witt, Mo., 1917, 2.45 miles, less abandonments due to above line changes, 2.86 miles. Details with respect to the construction of the property are given in the accounting report.
 * DEVELOPMENT OF FIXED PHYSICAL PROPERTY


 * HISTORY OF CORPORATE FINANCING

Of the 1,949.19 miles of road owned by The Wabash Railroad Company on the date of foreclosure sale, it had acquired 1,438.12 miles by consolidation, 257.53 miles by subsequent purchases, and 287.15 miles by construction of new lines. Abandonments and track changes subsequently reduced the above mileage by 33.61 miles or to 1,949.19 miles owned on date of sale. Details with respect to construction of the property are given in the accounting report on the Wabash. [come on...]
 * DEVELOPMENT OF FIXED PHYSICAL PROPERTY

In addition to the above mileage, The Wabash Railroad Company claims as owned 2.30 miles of second main track extending from Peru, eastward to Peru Junction, Ind., which was originally constructed by the Peru and Detroit Railway Company on the right of way of The Wabash Railroad Company; 7.33 miles of the Peru and Detroit Railway Company extending from Peru Junction, to Chili, Ind., was sold to the Winona Interurban Railway Company, August 8, 1906, and the remainder of the mileage owned by the Peru and Detroit Railway Company reverted to The Wabash Railroad Company which used it as a part of its double track.


 * HISTORY OF CORPORATE FINANCING

This company was incorporated February 27, 1889, in Michigan. No accounting records were obtained. Data indicated below were obtained from articles of incorporation and from other sources.
 * DETROIT & STATE LINE WABASH RAILROAD COMPANY—PREDECESSOR OF THE WABASH RAILROAD COMPANY

The records reviewed do not indicate whether the company was controlled by any individual or corporation on August 1, 1889, the date of consolidation, nor whether it then controlled any common-carrier corporation. The property was operated by The Wabash Western Railway Company, as agent, from the date of acquirement thereof to date of consolidation. This company owned on the date of consolidation 109.88 miles of railroad extending from Delray, Mich., to Butler, Ind. This property was all acquired from a purchasing committee which had acquired it at foreclosure sale from The Wabash, St. Louis and Pacific Railway Company.

The authorized capital stock was $300,000 par value, [...]

This company was incorporated May 17, 1889, in Ohio. No accounting records were obtained. Data indicated below were obtained from articles of incorporation and from other sources.
 * THE TOLEDO WESTERN RAILROAD COMPANY—PREDECESSOR OF THE WABASH RAILROAD COMPANY

The records reviewed do not indicate whether the company was controlled by any individual or corporation on August 1, 1889, the date of consolidation, nor whether it then controlled any common-carrier corporation.

This company owned on the date of consolidation 75.75 miles of railroad, extending from Toledo, Ohio, to the Ohio-Indiana State line, which was all acquired from a purchasing committee which had acquired it at foreclosure sale from The Wabash, St. Louis and Pacific Railway Company.

The authorized capital stock was $700,000 par value, [...]

This company was incorporated under the general laws of Missouri March 8, 1887. The records reviewed do not indicate whether this company was controlled by any individual or corporation on August 1, 1889, the date of consolidation, nor whether it then controlled any common-carrier corporation. The property was operated by its own organization from the dates of acquirement thereof until date of consolidation.
 * THE WABASH WESTERN RAILWAY COMPANY—PREDECESSOR OF THE WABASH RAILROAD COMPANY
 * INTRODUCTORY

The railroad operated was a single-track, standard-gage, steam railroad, located in Missouri and Iowa, aggregating 532.27 miles. The owned mileage amounted to 430.92 miles and extended from St. Louis to Harlem, Mo., Moberly, Mo., to Ottumwa, Iowa, and from Salisbury to Glasgow, Mo. The mileage operated under lease amounted to 101.35 miles and extended from Centralia to Columbia, Mo., and from Brunswick to Pattonsburg, Mo. The company used under trackage rights 39.8 miles of the road of other carriers, part of which afforded access to Kansas City, Mo.

In addition to the above, it operated for account of the purchasing committee of The Wabash, St. Louis and Pacific Railway Company, 162.59 miles of leased road, extending from Harvey to Chesterfield, Iowa, Sidney to Champaign, Ill., Logansport to Butler, Ind., and Attica to Covington, Ind. It also operated, as agent, 109.88 miles of road of the Detroit & State Line Wabash Railroad Company, extending from Delray, Mich., to Butler, Ind.

Of the road owned by the company on the date of consolidation, it had acquired 387.91 miles from the purchasing committee of The Wabash, St. Louis and Pacific Railway Company and 43.01 miles from Leonard Matthews, who had acquired it at a foreclosure sale on August 4, 1887, from the St. Louis, Ottumwa and Cedar Rapids Railway Company. Details are given in the accounting report on the Wabash.
 * DEVELOPMENT OF FIXED PHYSICAL PROPERTY


 * HISTORY OF CORPORATE FINANCING