Wikipedia:WikiProject Trains/ICC valuations/Marion and Eastern Railroad

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The railroad of Marion & Eastern Railroad Company, hereinafter called the carrier, is a single-track standard-gauge steam railroad situated entirely within the State of Illinois. It owns and operates a single-track standard-gauge steam railroad extending from a connection with the Illinois Central Railroad at M. & E. Junction, near Marion to Pittsburg, Ill., a distance of 5.569 miles. The carrier also owns 2.082 miles of yard tracks and sidings, a total of 7.651 miles of all tracks owned. It reaches Marion by means of trackage rights over the Illinois Central Railroad.

CORPORATE HISTORY

The carrier was incorporated December 31, 1913, under the general laws of the State of Illinois for the purpose of acquiring the railroad property formerly owned by the Eldorado, Marion & Southwestern Railroad Company. The date of its organization was not determined. Pursuant to the above purpose the carrier acquired on December 30, 1913, all of the properties of the Eldorado, Marion & Southwestern Railroad Company which had been purchased on that date at foreclosure sale by Ed. M. Stotlar, who immediately transferred the purchased property to the carrier. The Eldorado, Marion & Southwestern Railroad Company was a corporation of the State of Illinois, which had been incorporated under the general laws of that State on July 2, 1906. Its railroad was placed in receivership on February 11, 1911, and so continued until the sale of its properties as stated above.

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The owned mileage of the carrier extending from M. & E. Junction to Pittsburg, Ill., a distance of 5.569 miles, was constructed by the Eldorado, Marion & Southwestern Railroad Company.

HISTORY OF CORPORATE FINANCING