Wikipedia:WikiProject Trains/ICC valuations/Chicago Junction Railway

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Chicago Junction Railway Company

The railroad operated by the Chicago Junction Railway Company, herein called the Chicago Junction Railway, is a standard-gage, steam railroad, comprising switching and terminal facilities, and located entirely within the city of Chicago, Ill. The owned mileage aggregates 2.185 miles, most of which is double track, and consists of main lines extending from Thirty-ninth Street to Archer Avenue, Thirty-ninth Street to Thirty-fourth Streets, and Forty-seventh Street to Morgan and Wallace Streets. The property operated exclusively under lease comprises 9.037 miles of railroad, most of which is double track, extending from Fourteenth Street and Ogden Avenue to Forty-third Street and the Lake Front, together with tracks in the union stockyards, all owned by The Union Stock Yard and Transit Company of Chicago. The Chicago Junction Railway wholly owns and uses 31.245 miles of all tracks, jointly owns and uses 0.234 undivided mile of all tracks, and wholly uses but does not own 142.563 miles of all tracks. These tracks are classified in the trackage table in Appendix 1.

In addition to the foregoing, the Chicago Junction Railway has trackage rights over the road of The Chicago River and Indiana Railroad Company from Thirty-ninth Street and Western Avenue to Forty-ninth Street and Oakley Avenue, 1.308 miles, and from Forty-third and Leavitt Streets to Forty-second and Robey Streets, 0.402 mile.

The Chicago Junction Railway is an industrial carrier. It serves the union stock yards and associated meat packing houses and other industries in the Central Manufacturing District of Chicago.

Introductory

The Chicago Junction Railway is a corporation of the State of Illinois, having its principal office at Chicago, Ill. Practically all of the accounting records of the Chicago Junction Railway for the period from the date of its incorporation to January, 1906, are claimed by the carrier to have been destroyed by fire. For that reason only partial information can be given from its accounts in connection with its financial dealings, corporate operations, or investments. Certain information indicated hereinafter pertaining to the period first mentioned has been taken from its minute book and from its reports to this commission. The Chicago Junction Railway is controlled by the Chicago Junction Railways & Union Stock Yards Company of New Jersey, a holding company, through ownership of the entire outstanding capital stock. On the other hand, the records reviewed do not indicate that this company, itself, controls any common-carrier corporation.

The property of the Chicago Junction Railway was operated by its own organization from April 1, 1898, to December 31, 1917. On January 1, 1918, its common-carrier property was taken over for operation by the United States Railroad Administration, which operates it on date of valuation.

Corporate History

The Chicago Junction Railway was incorporated under the general laws of the State of Illinois, through filing with that State, on April 26, 1898, an agreement of consolidation dated January 1, 1898, for the purpose of consolidating the property, rights, and franchises of the Chicago and Indiana State Line Railway Company and the Chicago, Hammond and Western Railroad Company. Pursuant to the above purpose, the Chicago Junction Railway acquired at its organization the property, rights, and franchises of the two companies. The Chicago Junction Railway, itself, and those corporations, together with the predecessors of one of them, total five different corporations and comprise the line of corporate succession culminating in the Chicago Junction Railway as at present constituted. [...]

No.	Name	Incorporation	Succession
1	Chicago Junction Railway Company.	Under general laws of Illinois, through articles of consolidation dated Jan. 1, 1898; filed Apr. 26, 1898; effective Apr. 1, 1898.
2	Chicago and Indiana State Line Railway Company.	Under general laws of Illinois, July 13, 1880.	Consolidated Apr. 26, 1898, with 3 to form 1.
3	Chicago, Hammond and Western Railroad Company.	Under general laws of Illinois, Apr. 20, 1896.	Consolidated Apr. 26, 1898, with 2 to form 1.
4	Hammond and Blue Island Railroad Company.	Under general laws of Illinois, Dec. 8, 1893.	Sold to 3 Sept. 30, 1896.
5	Hammond and Blue Island Railroad Company of Indiana.	Under general laws of Indiana, June 10, 1895.	Sold to 4 Sept. 30, 1896.

Development of Fixed Physical Property

The owned mileage of the Chicago Junction Railway, 2.185 miles, was all acquired by consolidation. The years when the various portions of the line were constructed are indicated in the following table.

Acquired by consolidation, Apr. 26, 1898:

From the Chicago and Indiana State Line Railway Company—

Constructed by that company—

Thirty-ninth Street to Archer Avenue, Chicago, Ill. About 1880. 1.220

Thirty-ninth Street, to Thirty-fourth Street, Chicago, Ill. About 1880. 0.890

Forty-seventh Street, to Forty-ninth and Morgan Streets. About 1880. 0.250

Forty-seventh Street, to Forty-ninth and Wallace Streets. About 1880. [included in above mileage]

2.360

From the Chicago, Hammond and Western Railroad Company:

Constructed by that company—

Franklin Park to McCook, Ill., 1897-1898 10.52

Mannheim branch, Mannheim to Franklin Park, Ill., 1897-1898 1.04

Constructed by the Hammond and Blue Island Railroad Company of Indiana—

Whiting, Ind., to Indiana-Illinois State line, 1896 3.470

Constructed by the Hammond,[sic] and Blue Island Railroad Company—

Blue Island, Ill., to Illinois-Indiana State line, 1896 10.590

25.620

27.980

Less mileage acquired from the Chicago, Hammond and Western Railroad Company, sold to the Indiana Harbor Belt Railroad Company, Oct. 31, 1907 25.620

Total recorded mileage 2.360

Difference between total recorded mileage and mileage inventoried as of date of valuation 0.175

Mileage inventoried as of date of valuation 2.185

Leased Railway Property

The Chicago Junction Railway used, on December 31, 1917, property owned by other companies and other companies used property owned by the Chicago Junction Railway to the extent indicated in the statement below. [...] The description of the property, the period and terms of use, and the rentals accrued and charged or credited to income for the year ended December 31, 1917, are as follows:

Solely used, nut not owned, leased from—

The Union Stock Yard and Transit Company of Chicago—

Tracks, 9.037 miles, from Fourteenth Street and Ogden Avenue, to Forty-third Street, and the Lake Front; also tracks in the Union Stock Yards, all within the city of Chicago, Ill., and all equipment; term perpetual from Dec. 1, 1913; stipulated payment $600,000 per annum and all taxes and maintenance. 600,000.00

Property known as "B and O property," Chicago, Ill.; stipulated payment of 5 per cent per annum on valuation of $218,490. 10,924.50

Property known as "Carey property," Chicago Ill.; stipulated payment of 5 per cent per annum on valuation of $107,895. 5,394.75

Property known as "Bubbley Creek," Chicago, Ill.; rental 5 per cent per annum on valuation of $88,595. 4,429.75

Property at Thirty-ninth and Racine Streets, Chicago, Ill.; term perpetual from Apr. 1, 1916; rental $2,500 per annum and all taxes and assessments. 2,600.00

Property, Leavitt Street yards, Chicago, Ill.; term indefinite from Sept. l, 1915; rental $1,465.80 per annum and taxes. 1,465.80

Property at Fortieth and Wallace Streets, Chicago, Ill.; term perpetual from Oct. 1, 1916; rental $2,800 per annum and taxes. 2,800.00

Jointly used, but not owned, owned by The Chicago River and Indiana Railroad Company:

Tracks, 1.308 miles, Thirty-ninth Street and Western Avenue, to Forty-ninth Street and Oakley Avenue, and 0.402 mile, Forty-third and Leavitt Streets, to Forty-second and Robey Streets, Chicago, Ill.; term 99 years from Jan. 1, 1909; rental 37.5 cents per car each way on all interchange business passing over tracks upon which a trackage charge is collected (90 per cent of amount paid is charged to joint-facility rents; the balance is charged to operating expenses). 74,254.73

Solely owned, but jointly used, used with—

The Atchison, Topeka and Santa Fe Railway Company;

The Baltimore and Ohio Rail Road Company;

The Baltimore and Ohio Chicago Terminal Railroad Company;

Chicago & Illinois Western Railroad;

Chicago and Western Indiana Railroad Company;

The Chesapeake and Ohio Railway Company of Indiana;

The Chicago and Alton Railroad Company;

Chicago, Burlington & Quincy Railroad Company;

Chicago and Eastern Illinois Railroad Company;

Chicago Great Western Railroad Company;

Chicago, Indianapolis and Louisville Railway Company;

The Chicago, Rock Island and Pacific Railway Company;

Chicago, Milwaukee and St. Paul Railway Company;

Chicago and North Western Railway Company;

The Chicago River and Indiana Railroad Company;

Chicago and Erie Railroad Company;

Grand Trunk Western Railway Company;

Illinois Central Railroad Company;

Indiana Harbor Belt Railroad Company;

Illinois Northern Railway;

The Michigan Central Railroad Company;

Minneapolis, St. Paul & Sault Ste. Marie Railway Company;

The New York Central Railroad Company;

The New York, Chicago and St. Louis Railroad Company;

The Pennsylvania Railroad Company;

The Pittsburgh, Cincinnati, Chicago and St. Louis Railroad Company;

Pere Marquette Railroad Company;

Wabash Railway Company—

Under various agreements the above-named carriers use jointly with this company all of its tracks except industrial tracks. The revenues derived by the Chicago Junction Railway are based upon units of equipment and length of haul. This company credits 90 per cent of the total revenue received to its joint facility rent income account. ---

The Chicago River and Indiana Railroad Company—

Tracks between Fourteenth Street and Campbell Avenue, and Forty-third Street and Lake Front in Chicago, 7.41 miles. Rental payable on basis of use at rates of 37.5 cents per car. 130,576.69

Wabash Railway Company—

Tracks from Forty-ninth and Halstead Streets, to Forty-ninth and Wallace Streets, 0.257 mile. Rental, fixed charge per unit of equipment. ---

Predecessor Companies

Chicago and Indiana State Line Railway Company

The Chicago and Indiana State Line Railway Company was incorporated July 13, 1880, in the State of Illinois. No accounting records of the Chicago and Indiana State Line Railway Company were obtained. Therefore, no information can be given from its accounts regarding its financial dealings, corporate operations, or investments. However, certain data given below were obtained from other sources. The records reviewed do not indicate whether the Chicago and Indiana State Line Railway Company was controlled by any individual or corporation on April 26, 1898, the date of consolidation, nor, on the other hand, whether it then controlled any common-carrier corporation.

The property of this company was operated by its own organization from date of construction to April 1, 1898, the date consolidation was made effective. The railroad owned by the Chicago and Indiana State Line Railway Company on date of consolidation, amounted to 2.360 miles and consisted of a standard-gage, steam railroad extending from Thirth-ninth Street to Archer Avenue; Thirty-ninth Street to Thirty-fourth Street; and Forty-seventh Street to Forty-ninth and Morgan Streets and Forty-ninth and Wallace Streets, all within the city of Chicago, Ill., and all of which had been acquired by construction about 1880.

The minute book states that the authorized capital stock of the Chicago and Indiana State Line Railway Company was $200,000 par value, divided into shares of [...]

Chicago, Hammond and Western Railroad Company

The Chicago, Hammond and Western Railroad Company was incorporated April 20, 1896, in the State of Illinois. No accounting records of the Chicago, Hammond and Western Railroad Company were obtained. Therefore, no information can be given from its accounts regarding its financial dealings, corporate operations, or investments. However, certain data indicated below were obtained from the report rendered by the company to this commission for the year ended June 30, 1897 (the only report rendered), and from other sources. The report referred to indicates that the Chicago, Hammond and Western Railroad Company was controlled as of June 30, 1897, by the Indiana Construction Company through ownership of its capital stock. On the other hand, the records reviewed do not indicate that this company controlled on April 26, 1898, the date of consolidation, any common-carrier corporation.

The property of the company was operated by its own organization from the dates the several sections were acquired to April 1, 1898, the date the consolidation was made effective. The Chicago, Hammond and Western Railroad Company owned on the date of consolidation 25.62 miles of single-track railroad extending from Blue Island, Ill., to Whiting, Ind., and from Franklin Park to McCook, with a branch to Mannheim, in Cook County, Ill. Of this it acquired the line from Blue Island, Ill., to Whiting, Ind., 14.06 miles, by purchase from the Hammond and Blue Island Railroad Company. The remainder, 11.56 miles, was acquired by construction during 1897 and 1898. The construction work of the Chicago, Hammond and Western Railroad Company was performed by the Indiana Construction Company.

The authorized capital stock of the Chicago, Hammond and Western Railroad Company was [...]