Wikipedia:WikiProject Trains/ICC valuations/Missouri–Illinois Railroad

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Location and general description of property.—The railroad of the Missouri–Illinois Railroad Company, hereinafter called the carrier, is a single-track, standard-gage, steam railroad, located in Illinois and Missouri. The owned main line consists of two separated sections which are connected by means of trackage rights. One section extends southwesterly from Salem to Branch Junction, Ill., and the other from Centralia, Ill., to Bismarck, Mo., aggregating 123.037 miles. The carrier has car ferries for crossing the Mississippi River between Kellogg, Ill., and Little Rock, Mo. Branch lines project from Sparta, Ill., to the mines of the Illinois Fuel Company, 2.730 miles, and from Collins to Chester, Ill., 10.672 miles. The carrier wholly owns and uses 136.439 miles of main track, and 33.579 miles of yard tracks and sidings, making a total of 170.018 miles of all tracks.

The property of the carrier has always been operated by its own organization.

Although the carrier acquired title to its property by deed dated February 5, 1921, it did not begin to record the results of corporate operations in its books until March 26, 1921.

The road acquired, under authority dated March 14, 1921, 67 I.C.C. 283, was formerly owned by The Illinois Southern Railway Company, which was sold at foreclosure sale, September 15, 1920.

CORPORATE HISTORY

The carrier was incorporated January 8, 1921, under the general laws of Missouri to acquire and operate the railroad formerly owned by The Illinois Southern Railway Company, which had been sold at foreclosure sale on September 15, 1920.

1. Missouri–Illinois Railroad Company. Incorporated under general laws of Missouri, January 8, 1921.
2. The Illinois Southern Railway Company. General laws of Illinois, May 24, 1900. Sold at foreclosure sale September 15, 1920, after receivership begun September 17, 1918. Sold to 1, deed dated February 5, 1921.
3. The St. Louis and Southern Illinois Railroad Company. General laws of Illinois, February 9, 1901. Sold to 2 October 10, 1902.
4. Southern Missouri Railway Company. General laws of Missouri December 24, 1900. Sold to 2 October 15, 1903.
5. Centralia and Chester Railroad Company (second corporation). General laws of Illinois, February 10, 1894. Sold at foreclosure, May 16, 1900, and acquired May 17, 1900 by John R. Walsh and wife who reconveyed to 2, May 31, 1900.
6. Centralia and Chester Railroad Company (first corporation). General laws of Illinois, December 7, 1883. Consolidated February 10, 1894, with 7 and 8 to form 5.
7. Sparta and Ste. Genevieve Railroad Company. General laws of Illinois, April 19, 1889. Consolidated February 10, 1894, with 6 and 8 to form 5.
8. Centralia and Altamont Railroad Company. General laws of Illinois, April 24, 1889. Consolidated February 10, 1894, with 6 and 7 to form 5.
9. The Randolph County Railroad Company. General laws of Illinois. November 15, 1894. Sold to 5, November 8, 1895.

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The road, all owned, amounting to 136.439 miles, was all acquired by deed dated February 5, 1921, from an individual who had previously purchased it at foreclosure sale on September 15, 1920, from The Illinois Southern Railway Company. The acquisition of the property by the carrier was under authority of March 14, 1921, 67 I.C.C. 283. Of the eight corporations which comprise the line of succession culminating in the carrier as at present constituted, one company, the Centralia and Altamont Railroad Company, did not construct or improve any property. Of the seven other corporations, the Sparta and Ste. Genevieve Railroad Company performed only certain grading near Evansville, Ill. The data with respect to the miles of road constructed by the six remaining corporations, the years in which the various portions of the line were constructed, and the manner in which the carrier acquired the property are indicated in the accounting report.

HISTORY OF CORPORATE FINANCING