Corporate Genealogy
Cleveland, Akron & Cincinnati

INTRODUCTORY

The Cleveland, Akron and Cincinnati is a corporation of the State of Ohio, having its principal office at Cleveland, Ohio. It is controlled by the Pennsylvania Company through ownership of a majority of the outstanding capital stock. On the other hand, the Cleveland, Akron and Cincinnati controls, jointly with other carriers, the following terminal and belt line companies:

Percentage
of control
The Akron & Barberton Railroad Company, jointly with The Baltimore and Ohio Rail Road Company, Erie Railroad Company, and the Northern Ohio Railway Company. 25
The Akron Union Passenger Depot Company, jointly with The Baltimore and Ohio Rail Road Company 50
The Zaneville Terminal Railroad Company, jointly with The Zaneville and Western Railway Company 50

From July 1, 1911, the effective date of consolidation, to December 31, 1911, the property of the Cleveland, Akron and Cincinnati was operated by that company's own management. From January 1, 1912, to date of valuation, it was operated by the Pennsylvania Company under an agreement dated December 1, 1911.

CORPORATE HISTORY

The Cleveland, Akron and Cincinnati was incorporated on June 26, 1911, under the general laws of Ohio, through filing an agreement, dated June 13, 1911, for the consolidation of the properties, rights, and franchises of The Cincinnati and Muskingum Valley Railroad Company and The Cleveland, Akron and Columbus Railway Company. The following chart shows the names of the corporations comprised in the corporate history of the Cleveland, Akron and Cincinnati, their respective dates of incorporation, and manner and date of succession. Reference to each of these corporations is made in the last column by its respective number in the first column.

No. Name Incorporation Succession
1 The Cleveland, Akron and Cincinnati Railway Company Under general laws of Ohio through articles of consolidation, dated June 13, 1911, filed June 26, 1911.
2 The Cincinnati and Muskingum Valley Railroad Company. Under general laws of Ohio, June 23, 1898. Consolidated July 1, 1911, with 6, to form 1.
3 The Cincinnati and Muskingum Valley Railway Company. Under general laws of Ohio, Mar. 13, 1864. Sold June 29, 1898, under foreclosure proceedings, to J. P. Green, mortgage trustee, and conveyed on June 30, 1898, to 2.
4 Cincinnati and Zanesville Railroad Company. Under general laws of Ohio, Mar. 13, 1864. Sold Dec. 1, 1896, under foreclosure proceedings and conveyed to 3 by deed dated Aug. 6, 1870.
5 Cincinnati, Wilmington and Zanesville Railroad Company. By special act of Ohio Legislature Feb. 4, 1851. Sold Aug. 27, 1863, under foreclosure proceedings to Charles Moran, trustee, by whom conveyed to 4 by deed dated Mar. 12, 1864.
6 The Cleveland, Akron and Columbus Railway Company. Under general laws of Ohio, Dec. 31, 1885. Consolidated July 1, 1911, with 2, to form 1.
7 The Cleveland, Akron and Columbus Railroad Company. Under general laws of Ohio, Dec. 1, 1881. Acquired property of 8 by deed dated Dec. 24, 1881. Sale set aside by court on Mar. 13, 1882, and property reverted to 8.
8 Cleveland, Mt. Vernon and Delaware Railroad Company. See 9 Sold Aug. 20, 1881, under foreclosure proceedings, and conveyed to 7, Dec. 24, 1881. Sale set aside on June 7, 1882. Property again sold on June 7, 1882, to purchasers who organized 6, and conveyed by deeds dated Jan. 6, 1886 and Jan. 15, 1886.
9 The Pittsburgh, Mt. Vernon, Columbus and London Railroad Company. Under general laws of Ohio, May 11, 1869. Name changed to 8, Dec. 20, 1869.
10 The Cleveland, Zanesville and Cincinnati Railroad Company. See 11 Sold Dec. 23, 1864, under foreclosure proceedings, to George W. Cass and John J. Marvin, by whom conveyed to the Pittsburgh, Fort Wayne and Chicago by deed dated July 1, 1865. Sold by the latter to 9 on Nov. 4, 1869.
11 The Akron Branch of the Cleveland and Pittsburgh Railroad Company. By special act of Ohio Legislature, Feb. 19, 1851. Name changed to 10, Mar. 17, 1853.
12 Springfield, Mt. Vernon and Pittsburgh Railroad Company. See 13 Sold in part to a predecessor of the Cleveland, Cincinnati, Chicago and St. Louis Railway Company, and conveyed by deed dated Jan. 1, 1862, and in part at sheriff's sale on Aug. 31, 1867, and conveyed to purchaser, G. A. Jones, trustee, by sheriff's deed Dec. 24, 1868. Conveyed by G. A. Jones to 9, Nov. 1, 1869.
13 Springfield and Mansfield Railroad Company. By special act of Ohio Legislature, Mar. 21, 1850. Name changed to 12, Aug. 9, 1852.

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The Cleveland, Akron and Cincinnati owned on date of valuation 335.186 miles of road, all of which was acquired in the consolidation of June 26, 1911. In the following table are shown the years in which and the companies by which the several parts of the property were constructed and the manner in which they were acquired by the Cleveland, Akron and Cincinnati.

From The Cincinnati and Muskingum Valley Railway Company, constructed by--
      The Cincinnati and Muskingum Valley Railway Company, Zanesville to Trinway, Ohio, 1871 16.36
The Cincinnati, Wilmington and Zanesville Railroad Company, Morrow to Washington Court House, Ohio, 1853, Washington Court House to Lancaster, Ohio, 1854, Lancaster to Zanesville, Ohio, 1856 132.10 148.46
From the Cleveland, Akron and Columbus Railway Company, constructed by--
The Cleveland, Akron and Cincinnati Railway Company--
Killibuck to Trinway, Ohio (partly constructed by Cleveland, Mt. Vernon and Delaware Railroad Company), 1888 33.54
Kramore Junction to a point in Paint Township, Wayne County, near West Lebanon, Ohio (Partly constructed by The Ashland and Wooster Railway Company)   9.42
Total 42.96
Cleveland, Mt. Vernon and Delaware Railroad Company, south of Millersburg to Mount Vernon, Ohio, 1873 (23 miles partly constructed by Springfield, Mt. Vernon and Pittsburgh Railroad Company) 78.79
The Cleveland, Zanesville and Cincinnati Railroad Company, Hudson to Akron, Ohio, 1852, and Akron to Millersburg, Ohio, 1854 61.50
The Pittsburgh, Fort Wayne and Chicago, Millerburg, Ohio to a point south, 1868   3.50 186.750
Total recorded mileage owned on date of valuation 335.210
Difference between recorded mileage and mileage inventoried    0.024
Mileage inventoried as of date of valuation 335.186

INVESTMENTS IN OTHER COMPANIES

The investments of the Cleveland, Akron and Cincinnati in other companies was stated in its records on date of valuation at a total par value of $288,425.01 and a book value of $229,948.53, as follows:

Par value Book value
Stocks, affiliated carrier corporations:
     The Akron & Barberton Belt Rialroad Company 25,000.00 25,000.00
The Akron Union Passenger Depot Company 50,000.00 50,000.00
The Zanesville Terminal Railroad Company  150,000.00   91,523.52
Total  225,000.00  166,523.52
Bonds, the Akron & Barberton Belt Railroad Company, first-mortgage 4 per cent bonds, due June 1, 1942   10,000.00   10,000.00
Notes, the Akron Union Passenger Depot Company 4.5 per cent demand notes     5,150.00     5,150.00
Advances:
The Akron & Barberton Belt Railroad Company 48,045.84 48,045.84
The Akron Union Passenger Depot Company       229.17       229.17
Total     48,275.01     48,275.01
Grand total 288,425.01 229,948.53

LEASED RAILWAY PROPERTY

The property of the Cleveland, Akron and Cincinnati is operated by the Pennsylvania Company under an agreement dated December 1, 1911, effective on January 1, 1912. Under the terms of this agreement the Pennsylvania Company maintains and operates the property and pays as rental therefor an amount equal to the net earnings derived from operating the property. The rental received by the Cleveland, Akron and Cincinnati for the year ended on date of valuation was $856,535.64.


Original data source: Valuation Reports Vol. 23 pp576-578, 588
Interstate Commerce Commission
Washington, DC
January 1929

Although published in 1929, the report is "...as of date of valuation" which was 30 June, 1916


HTML by Robert T. Netzlof 17 April 2001
Content expanded 10 June 2002
Valuation date corrected 7 July 2005
Typographical error corrected 16 January 2008
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