Wikipedia:WikiProject Trains/ICC valuations/Chicago and Illinois Midland Railway

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INTRODUCTORY

The carrier is a corporation of the State of Illinois. Its principal office is located in Taylorville, Ill. The carrier was controlled by the Commonwealth Edison Company on date of valuation, through ownership of the entire outstanding capital stock. The road was operated by forces of The Pawnee Railroad Company between September, 1905, and January 31, 1906, but the net revenues were transferred to the carrier. The carrier took over the property for operation on February 1, 1906.

CORPORATE HISTORY

The carrier wns incorporated on July 17, 1905, under the general laws of the State of Illinois, as the Central Illinois Railway Company. The name was changed to Chicago & Illinois Midland Railway Company through amendment of its articles of incorporation filed on January 22, 1906. The carrier was incorporated as a reorganization of The Pawnee Railroad Company. The date of organization of the carrier was not disclosed by the records reviewed.

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The road owned by the carrier on date of valuation had been acquired by it partly through purchases and partly through construction, as indicated hereunder. The road between Auburn and Pawnee, about 9 miles, had been constructed by The Pawnee Railroad Company, was sold under foreclosure on September 4, 1905, to Landon C. Rose, and was transferred by him to the carrier on September 27, 1905. The remaining road owned by the carrier from Pawnee to Taylorville, about 16 miles, was acquired through construction by the Pawnee Construction Company, under contract. It was not ascertained from the records reviewed whether or not the Pawnee Construction Company was affiliated with the carrier.

HISTORY OF CORPORATE FINANCING

Predecessor Company

THE PAWNEE RAILROAD COMPANY

The Pawnee Railroad Company was incorporated on September 25 1888, under the general laws of the State of Illinois. No records of this company were obtainable.