The carrier is a corporation of the State of Indiana, having its principal office at Anderson, Ind. Although the carrier acquired title to its property on March 16, 1903, it did not commence recording the results of the operations of its property in its books until April 1, 1903. Therefore, the accounting data in this report cover the period from April 1, 1903. The carrier is controlled jointly by The Cleveland, Cincinnati, Chicago and St. Louis Railway Company and the Pennsylvania Company through ownership of its entire outstanding capital stock. On the other hand, the records do not indicate that the carrier, itself, controls any other common-carrier corporations. The property of the carrier has been operated by its own organization from April 1, 1903, to date of valuation.
The carrier was incorporated March 16, 1903, under the general laws of the State of Indiana, for the purpose of acquiring the property, rights, and franchises of the Chicago and South Eastern Railway Company. The date of its organization was not determined. Pursuant to the above purpose, the carrier acquired at its organization the property, rights, and franchises of the Chicago and South Eastern Railway Company. The carrier, itself, and its predecessors total five different corporations, of which one underwent a change of name, and comprise the line of corporate succession culminating in the carrier as at present constituted. The following chart shows the names of the corporations, the respective dates of incorporation and for each predecessor the date of succession, the immediately succeeding corporations, and the manner of succession. Reference to each of these corporations is made in the last column by its respective number shown in the first column.
|1. Central Indiana Railway Company.||Under general laws of Indiana, March 16, 1903|
|2. Chicago and South Eastern Railway Company.||Under general laws of Indiana, October 9, 1891.||Sold at foreclosure February 19, 1903, after receivership begun December 13, 1902, and acquired March 16, 1903, by 1.|
|3. Midland Railway Company.||Under general laws of Indiana, July 7, 1885.||Sold October 20, 1891, to 2.|
|4. Cleveland, Indiana and St. Louis Railway Company.||(See 5)||Sold at foreclosure July 8, 1885, to 3, after receivership begun December 12, 1878.|
|5. Anderson, Lebanon and St. Louis Railway Company.||Under genral laws of Indiana, July 3, 1871.||Name changed April 1, 1882, to 4.|
|6. The Fort Wayne, Terre Haute and Southwestern Railroad Company.||Under general laws of Indiana, October, 4, 1890.||Sold at foreclosure July 17, 1901, to 2, after receivership begun about 1892.|
The owned mileage of the carrier, amounting to 117.697 miles, was all acquired by purchase after foreclosure. The property constructed by the four corporations that comprise the line of succession culminating in the carrier as at present constituted, the years when the various portions of the line were constructed, and the manner in which the carrier acquired the property are indicated in the following table, wherein, to facilitate comparison with the table showing the corporate succession, previously given, the same order of corporations is maintained.
|Acquired by purchase after foreclosure from the Chicago and South Western Railway Company, March 16, 1903:|
|Constructed by the Chicago and South Eastern Railway Company, Muncie to Anderson, Ind., 1894-1900||18.98|
|Constructed partly by the Midland Railway Company and completed by the Chicago and South Eastern Railway Company--|
|Sand Creek to Bridgeton, Ind., 1891-1892||10.66|
|Carbon to Brazil, Ind., 1891-1892||5.74|
|Constructed by the Midland Railway Company, Noblesville to Waveland Junction, Ind., 1885-1890||58.87|
|Constructed by the Cleveland, Indiana and St. Louis Railway Company, Anderson to Noblesville, Ind., 1872-1876||18.32|
|Constructed by The Fort Wayne, Terre Haute and Southwestern Railroad Company, Bridgeten to Carbon, Ind., 1891-1892||5.29|
|Difference between total recorded mileage and mileage inventoried as of date of valuation||.163|
|Mileage inventoried as of date of valuation||117.697|
The investment of the carrier in other companies on date of valuation is stated in its records at a book value of $1, representing an investment in $500 par value of the stock of the Muncie Belt Railway Company that was acquired, together with the property and other assets of the Chicago and South Eastern Railway Company, March 16, 1903, but was not recorded in the books of the Central Indiana Railway until April 1909, by crediting the profit and loss account with $1.
|Solely owned, but jointly used, used with:|
|Muncie Belt Railway Company, tracks, 0.8 mile from Belt Junction to Avondale, Ind., for indefinite period from November 1, 1912; stipulated payment 20 cents per engine of the company moving over the track||$88.40|
|The Cleveland, Cincinnati, Chicago and St. Louis Railway Company, tracks, 1 mile, at Muncie, Ind.; for indefinite period from November 1, 1912; stipulated payment of 20 cents per engine of the company moving over the track||135.00|
|Jointly used, but not owned, owned by:|
|The Pittsburgh, Cincinnati, Chicago and St. Louis Railroad Company, tracks, 9.38 miles, from Waveland Junction to Sand Creek, Ind., for indefinite period from August 19, 1905; stipulated payment $3,000 per annum and one-half of taxes, plus proportion, on car basis, of cost of maintenance and operation||5,293.24|
There are other facilities of minor importance, such as crossings, interlockers, yard tracks, and sidings, in which the company grants or receives joint use, that are not listed in this chapter.
|Original data source:||Decisions of the Interstate Commerce Commission Vol. 106 pp 81-82, 90-91|
Interstate Commerce Commission
Although published in 1926, the report is "...as of date of valuation" which was 30 June, 1917