Wikipedia:WikiProject Trains/ICC valuations/Chicago, Milwaukee and Gary Railway

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The railroad of Chicago, Milwaukee and Gary Railway Company, hereinafter designated the carrier, is a single-track standard-gauge steam railroad, located in the northeastern part of Illinois. It consists of two disconnected sections lying in a general direction from northwest to southeast, and joined for operating purposes by trackage rights over the line of Elgin, Joliet and Eastern Railway Company. One section extends from Rockford, Ill., southeastward to Aurora, Ill. After a gap between Aurora and Joliet, the other section begins at Joliet, about 19 miles in a direct line southeast of Aurora, and extends further southeastward to Delmar, near the Illinois-Indiana State line. A short gap of less than a mile exists in this section at Momence, Ill., which is spanned for operating purposes by trackage rights over the line of The New York Central Railroad Company. A short branch of 2.20 miles runs from Kirkland Junction, about 21 miles from Rockford, northward to Kirkland. The entire owned mileage amounts to 99.07 miles. Adding the mileage operated under trackage rights to the owned mileage, the total operated mileage of the carrier amounts to 123 miles. In Appendix 1 will be found a general description of the characteristics of the property of the carrier.

Corporate history.—The corporate history associated with the property of the carrier began with the incorporation on December 11, 1902, under the general laws of Illinois, of the Illinois, Iowa,[sic] and Minnesota Railway Company. The same group that was in control of this enterprise, on February 6, 1905, incorporated Rockford Belt Railway Company, under the general laws of Illinois, to provide terminal facilities for the Illinois, Iowa, and Minnesota Railway Company at Rockford, Ill. The line of the Rockford Belt Railway Company was operated from the beginning by the Illinois, Iowa and Minnesota Railway Company.

On March 3, 1908, the same controlling group incorporated the carrier, under the general laws of Illinois, for the purpose of taking over the property, rights, and franchises of the Illinois, Iowa and Minnesota Railway Company and the Rockford Belt Railway Company. The carrier first, on June 29, 1908, leased those properties for 49 years, and later, on October 20, 1908, bought them outright. In connection with these carrier corporations, the same group of controlling persons furthered their projects by associating themselves as a construction company, a financial syndicate, voting trustees, and a reorganization syndicate. The respective roles of these organizations are described at appropriate points elsewhere.