Wikipedia:WikiProject Trains/ICC valuations/Chicago and State Line Railroad

Interstate Commerce Commission, Valuation Reports, Volume 38

The Chicago and State Line Railroad

Location and General Description of Property

The railroad of The Chicago and State Line Railroad Company, herein called the Chicago and State Line, is a double-track line extending from the Indiana-Illinois State line at Hammond, Ind., to Chicago. Ill., 10.470 miles.

Introductory

The Chicago and State Line is a corporation of the State of Illinois, having its principal office at Chicago, Ill. The accounting records of the Chicago and State Line were not obtained. Therefore, no information can be given from its accounts regarding its financial dealings, corporate operations, or investments. Certain information indicated hereinafter has been taken from sources other than the accounting records of the company.

The Chicago and State Line is controlled by the Nickel Plate through ownership of its entire outstanding capital stock. On the other hand, the records reviewed do not indicate that the Chicago and State Line controls any common carrier corporation.

The property of the Chicago and State Line was operated from July 2, 1887, the date it acquired title to its original road, to September 30, 1887, by the receiver of The New York, Chicago and St. Louis Railway Company, and from the latter date to December 31, 1917, by the Nickel Plate. The property of the Chicago and State Line was taken over for operation by the United States Railroad Administration on January 1, 1918, as a part of the system of the Nickel Plate, and it is so operated on date of valuation.

Corporate History

The Chicago and State Line was incorporated June 30, 1887, under the general laws of the State of Illinois, for the purpose of acquiring that portion of the railroad of The New York, Chicago and St. Louis Railway Company located within the State of Illinois. Pursuant to the foregoing purpose, the company acquired at its organization the above-described property from F. P. Olcott and others who had previously acquired it at foreclosure sale. The date of organization of the Chicago and State Line was September 16, 1887.

Development of Fixed Physical Property

The owned mileage of the Chicago and State Line, 10.470 miles, extending from Illinois-Indiana State line at Hammond, Ind., to Chicago, Ill., was acquired by purchase from F. P. Olcott and others, who had purchased the property at foreclosure sale from The New York, Chicago and St. Louis Railway Company, as explained more fully in the report upon the Nickel Plate. This mileage was constructed by the first-mentioned company during the years 1881-1882.

Leased Railway Property

The property of the Chicago and State Line was solely operated by the Nickel Plate from October 1, 1887, to December 31, 1917, under lease agreement dated September 1, 1887. From January 1, 1918, to date of valuation the property of this company has been operated by the United States Railroad Administration as part of the system of the Nickel Plate. Details with respect to the operation of this property are given in the chapter on leased railway property in the report on the Nickel Plate.