Corporate Genealogy
Dayton and Western

INTRODUCTORY

This company's property was operated by its own organization from October 11, 1853, to July 31, 1854, by the Columbus and Indiana Central Railway Company from October 1, 1854, to March 11, 1863; jointly by the Little Miami Railroad and the Columbus and Xenia from March 12, 1863, to November 29, 1868; solely by the Little Miami Railroad from November 30, 1868, to November 30, 1869; by The Pittsburg, Cincinnati and St. Louis Railway Company from December 1, 1869, to September 30, 1890; and by the Panhandle from October 1, 1890, to date of valuation.

CORPORATE HISTORY

[The report has no chapter under this heading.]

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The Dayton and Western reported that the construction of its property was begun on July 1, 1848, and that its railroad was opened for operation on October 11, 1853. The obtainable records do not disclose by whom this railroad was constructed.

LEASED RAILWAY PROPERTY

On date of valuation the common-carrier property of the Dayton and Western was operated by the Panhandle under the terms of a lease dated February 4, 1865, between the Dayton and Western, the Little Miami Railroad, and the Columbus and Xenia, and subsequent leases and agreements dated March 18, 1896, February 23, 1870, and May, 1899, which are fully disclosed in the portion of this appendix devoted to the Panhandle. Under the terms of the lease dated February 4, 1865, the lessees were to pay as an annual rental a sum equal to the interest on $38,000 par value of the Dayton and Western's outstanding mortgage bonds. The lease also provides that upon the payment of the principal of the above bonds by the lessees a nominal rental of five cents per annum would be charged. In event the lessees redeemed the above bonds, the Dayton and Western agreed, upon request, to convey by deed its entire property to the lessees.

On date of valuation The Cincinnati, Hamilton and Dayton Railway Company used 1.27 miles of track of the Dayton and Western, between Third Street, Dayton, and Miami City Junction, under an agreement dated May 26, 1864, between its predecessor, The Cincinnati, Hamilton and Dayton Railroad Company, and the Dayton and Western, and supplemental agreements thereto. Under the terms of the agreement all expenses incurred in the maintenance of these tracks were to be paid, one-fourth by the Dayton and Western and three-fourths by the lessee. The lessee was also to have control of the bridge over the Miami River, and one-half of the cost of maintaining or of rebuilding was to be paid by each company. The Dayton and Union Railroad Company uses the 1.27 miles of track jointly with The Cincinnati, Hamilton and Dayton Railway Company under agreements effective July 1, 1899.

The Dayton and Union Railroad Company also uses under trackage rights 15.34 miles of track of the Dayton and Western, together with the right to use the Great Miami bridge under an agreement dated January 14, 1863. The rental for the use of these facilities was fixed at $8,000 per annum, and 10 per cent of the gross receipts in excess of $100,000. The terms of the above agreement were amended January 2, 1877, and the compensation for the use of the above facilities was fixed at a rental of $10,000 per annum.


Original data source: Valuation Reports Vol. 24 pp 376, 381
Interstate Commerce Commission
Washington, DC
January 1929

Although published in 1929, the report is "...as of date of valuation" which was 30 June, 1918


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