Wikipedia:WikiProject Trains/ICC valuations/East St. Louis Connecting Railway

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Valuation Docket No. 1037

East St. Louis Connecting Railway Company

Location and general description of property.—The railroad operated by the East St. Louis Connecting Railway Company, herein called the Connecting Railway, is a standard-gage, steam switching railroad, located within the city of East St. Louis, Ill. The main line extends from Cahokia Creek to near the Madison County line and consists of 3.973 miles of first main track and 1.502 miles of second main track. The company leases for exclusive use certain bridges and structures owned by the Wiggins Ferry Company.

The Connecting Railway wholly owns and uses 52.792 miles of all tracks, jointly owns and uses an undivided interest in 0.314 mile of all tracks, and wholly owns but does not use 0.430 mile of all tracks. These tracks, consisting of first and second main tracks and yard tracks and sidings, are classified in the trackage table in Appendix 1.

In addition the Connecting Railway has trackage rights over the roads of other carriers, the details of which are given in the chapter on leased railway property in Appendix 2.

The Connecting Railway is controlled by the Wiggins Ferry Company which in turn is controlled by the Terminal Railroad Association of St. Louis. The lines owned or controlled by the Terminal Railroad Association of St. Louis provide switching and terminal facilities in the St. Louis district.

APPENDIX 2

CONNECTING RAILWAY

INTRODUCTORY

The Connecting Railway is a corporation of the State of Illinois, having its corporate and local office at East St. Louis, Ill., and its general administrative office at St. Louis, Mo. The Connecting Railway is directly controlled by the Wiggins Ferry Company, through ownership of the entire capital stock and is indirectly controlled by the Terminal Railroad Association of St. Louis, through its ownership of all of the capital stock of the Wiggins Ferry Company. On the other hand, the records reviewed do not indicate that this company controls any common-carrier corporation. The property of this company was operated by its own organization from January, 1879, to December 31, 1917, and by the United States Railroad Administration from January 1, 1918, to date of valuation.

CORPORATE HISTORY

The Connecting Railway was incorporated January 4, 1878, under the general laws of the State of Illinois, for the purpose of constructing and operating a single or double-track railroad extending from Venice, Madison County, to the Illinois and St. Louis Railroad Company (now Southern Railway) in St. Clair County, Ill., with tracks connecting the main track with various railroad depots, elevators, mills, warehouses, stockyards, river transfer tracks, and landings between said points. The Connecting Railway was incorporated in the interest of the Wiggins Ferry Company, for the purpose of enabling the Wiggins Ferry Company to compete with the railroad companies and others using the property of the St. Louis Bridge Company.

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The owned mileage of the Connecting Railway, amounting to 3.973 miles of first main track, 1.502 miles of second main track, and 47.317 miles of yard tracks and sidings, was all acquired by construction. Construction began in January, 1878, and the original property was placed in operation in January, 1879. The lines have been extended, to meet industrial demands, on various dates to date of valuation. The work has been done by the forces of the Wiggins Ferry Company and those of the Terminal Railroad Association of St. Louis.

HISTORY OF CORPORATE FINANCING

year ending December 31, 1917, are as follows:

Solely owned, but not used, leased to: Louisville and Nashville Railroad Company, yard tracks and sidings, 0.430 mile on Bowman Avenue, in East St. Louis, Ill.; indefinite term from Sept. 8, 1906; stipulated payment $10 per year and maintenance at expense of lessee

Solely used, but not owned, leased from the Wiggins Ferry Company, certain lands with embankment bridges and structures thereon in East St. Louis, Ill.; indefinite term from Jan. 1, 1911; stipulated payment $4,000 per month and taxes

Jointly used, but not owned, owned by—

Terminal Railroad Association of St. Louis, various yard and sidetracks, no written agreement, proportion of maintenance operation, and taxes on car basis $121,101.39

St. Louis Merchants Bridge Terminal Railway Company, various yard and sidetracks, no written agreement, proportion of maintenance, operation, and taxes on car basis 39,215.50

In addition, the Connecting Railway uses for carrier purposes certain lands owned or leased by other carriers. The Connecting Railway also jointly leases and jointly uses with the St. Louis, Troy and Eastern Railroad Company certain lands owned by the Wiggins Ferry Company. The terms of use of these lands or the payments made therefor has not been determined from the records reviewed.

GENERAL BALANCE SHEET STATEMENTS