Corporate Genealogy
Chicago Union Station Company

INTRODUCTORY

The carrier is an Illinois corporation, having its principal office at Chicago, Ill. It is controlled jointly by the following companies, herinafter referred to as the proprietary companies, through equal ownership of its capital stock: Chicago, Burlington & Quincy Railroad Company; Chicago, Milwaukee, and St. Paul Railway Company; The Pittsburgh, Cincinnati, Chicago and St. Louis Railroad Company; The Pennsylvania Railroad Company.

The property of the carrier is used by the first two companies named, and The Pennsylvania Railroad Company, which is the lessee of The Pittsburgh, Cincinnati, Chicago and St. Louis Railroad Company and The Pittsburgh, Fort Wayne and Chicago Railway Company. The property is also used by The Chicago and Alton Railroad Company, hereinafter referred to as the Alton. While the head house was not placed in operation until May 16, 1925, the carrier commenced recording the results of corporate operation on March 1, 1925. The property of the carrier has always been operated by its own organization.

CORPORATE HISTORY

The carrier was incorporated July 3, 1913, under the general laws of Illinois, as The Union Station Company, to construct, establish, and maintain a union station in the city of Chicago, Ill. On May 7, 1915, the name was changed to Chicago Union Station Company. The date of organization was November 19, 1913.

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The structural property owned by the carrier was acquired by construction during the period 1915 to 1927. The construction work was performed by the forces of proprietary companies and by various contractors, all work being under the supervision of the chief engineer of the carrier, who was assisted by officials of the proprietary companies. The records do not indicate that any of the contractors were affiliated with the carrier.

The actual construction work began early in 1915. In the latter part of that year, work on the foundation of the head house was started. From about the middle of 1916 to 1918, practically no progress was made on account of labor troubles and the entrance of the United States in the World War. Early in 1919 the work was resumed, but in June of that year there began a suspension of 3 months due to labor conditions. The work was again resumed in the fall of 1919 but the winter of 1919-20 caused delays. The head house was placed in operation on May 16, 1925. Certain of the viaducts were not completed until 1926 and 1927.

With one exception, the overgrade crossings are jointly owned with one or more of the following companies: Alton; Chicago, Burlington & Quincy Railroad Company; Chicago, Milwaukee and St. Paul Railway Company; Pittsburgh, Fort Wayne and Chicago Railway Company; and The Pittsburgh, Cincinnati, Chicago and St. Louis Railroad Company.

The signals and interlockers are jointly owned with the Pittsburgh, Fort Wayne and Chicago Railway Company, the Chicago, Burlington & Quincy Railroad Company, the Chicago, Milwaukee and St. Paul Railway Company, and The Pittsburgh, Cincinnati, Chicago and St. Louis Railroad Company.

TRAFFIC CONNECTIONS

The carrier has connections with the railroads operated by all of its tenant companies as named elsewhere in this report.

LEASED RAILWAY PROPERTY

The description af the property, the periods and terms of use, and the rentals accrued or credited to income for the year ending on date of valuation are as follows:

Solely owned but jointly used, used with--
     Chicago, Burlington & Quincy Railroad Company, Chicago, Milwaukee and St. Paul Railway Company, and The Pennsylvania Railroad Company, which is the lessee of The Pittsburgh, Cincinnati, Chicago and St. Louis Railroad Company and the Pittsburgh, Fort Wayne and Chicago Railway Company, entire property owned by the carrier, except such parts as are leased to third persons for handling of mail, maintenance of restaurants, newsstands, etc., and that part used exclusively by the second and third named companies, as described hereinafter, is used jointly by the first three companies named, under agreement dated July 2, 1915, effective August 1, 1915, for the period ending July 3, 1963, and for such further period as the facilities may be used. Stipulated gross annual rental to be a sum sufficient to pay interest on bonds and other capital obligations of the carrier; taxes and assessments and a dividend of not less than 5 percent annually on the carrier's outstanding capital stock, less rental received from Alton, the net of which is divided 25 percent to each of the first two named companies and 50 percent to the third named company. All other income from use and occupation of the property and from privileges and concessions is divided in the proportion that each of the railway companies using the station pays of the gross rental. The cost of maintenance and operation of the facilities is apportioned upon a user basis. For the year ended on date of valuation, the carrier received from the three compaies named above and credited to joint-facility rent income $4,018,235.03
The Chicago and Alton Railroad Company, the property described above is used also by the Alton, under agreement dated September 18, 1915, effective August 1, 1915, for the period ending July 3, 1963, and for such further period as the facilities may be used. Stipulated gross annual rental to be its proportion, on basis of use, of a sum sufficient to pay: Taxes and assessments; annual dividend of 5 percent on the outstanding capital stock of the carrier; actual interest on all other capital obligations and to take care of the amortization of discount required by law or any order of any body having jurisdiction, less its proportion of all other income from the use and occupation of the property and from privileges and concessions, being the proportion which its rental bears to the gross rental paid by all railways using the station, provided such proportion of income, so determined, applicable to its rental, shall not reduce its proportion of rental below the minimum of 7 percent. The cost of maintenance and operation of the facilities its apportioned upon a user basis. For the year ended on date of valuation the carrier received from the Alton and credited to joint-facility rent income 515,319.02
Solely owned but not used, used by--
Chicago, Milwaukee and St. Paul Railway Company, portion of the second and all of the seventh and eighth floors of the head house, aggregating 80,045 square feet for office purposes, under agreement dated December 24, 1925, effective May 1, 1924, and supplemental agreement dated August 1, 1927, for the period ending April 30, 1939. The stipulated annual rental is $120,067.56 plus an addtional amount to cover such depreciation, as may be required by any public authority. For the year ended on date of valuation, the carrier received and credited to miscellaneous rent income 119,522.52
The Pennsylvania Railroad Company, portion of the second and third and all of the fifth and sixth floors of the head house, aggregating 67,333 square feet for office purposes, under agreement dated May 1, 1924, covering 52,116 square feeet, term 15 years, stipualted annual rental $78,174, and supplemental agreement dated May 1, 1927, covering 15,217 square feet, term 1 year and from year to year unles sooner terminated, but not beyond April 30, 1939, stipulated annual rental $22,825.56. Both agreements are subject to an additional amount to cover such depreciation, as may be required by any public authority. For the year ended on date of valuation, the carrier received and creditied to miscellaneous rent income 107,450.08


Original data source: Interstate Commerce Commission Valuation Reports Vol. www pp yyy, zzz
Interstate Commerce Commission
Washington, DC
1935

Although published in 1935, the report is "...as of date of valuation" which was 31 December, 1927


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