Wikipedia:WikiProject Trains/ICC valuations/South Chicago Railroad

Interstate Commerce Commission, Valuation Reports, Volume 46

The South Chicago Railroad

Location and General Description of Property

The railroad of The South Chicago Railroad Company, hereinafter called the South Chicago Railroad, is a single-track line, from Chicago to South Chicago, Ill., 4.653 miles.

Introductory

The South Chicago Railroad is a corporation of the State of Illinois, having its principal office at Chicago, Ill. The company is controlled by the Illinois Central through ownership of its entire outstanding capital stock. On the other hand, the records do not indicate that this company, itself, controls any common-carrier corporation.

The property of the South Chicago Railroad has been operated by the Illinois Central since July 1, 1890.

Corporate History

The South Chicago Railroad was incorporated September 9, 1881, under the general laws of Illinois.

Development of Fixed Physical Property

The double-track railroad of 4.653 miles of the South Chicago Railroad was constructed by the Illinois Central in 1882 and 1883, and was completed for operation December 31, 1883.

Leased Railway Property

The South Chicago Railroad leased its entire property, for sole operation, to the Illinois Central under agreement effective July 1, 1890, until expiration of its charter. The lessee pays all maintenance, operating expenses, and taxes out of the earnings of the property, and retains the surplus, if any. The deficits constitute a lien against the property of the South Chicago Railroad.