Wikipedia:WikiProject Trains/ICC valuations/Cincinnati, Richmond and Fort Wayne Railroad

Interstate Commerce Commission, Volume 23, Valuation Reports

Cincinnati, Richmond and Fort Wayne Railroad

The railroad of Cincinnati, Richmond and Fort Wayne Railroad Company, herein called the Cincinnati, Richmond and Fort Wayne, which is operated by the Grand Rapids & Indiana, under lease and agreement, is a single-track line extending from Richmond, Ind., to Adams Junction, near Fort Wayne, Ind., 85.758 miles. The Cincinnati, Richmond and Fort Wayne also owns yard and side tracks as shown in the trackage table in Appendix 1.

Introductory

The Cincinnati, Richmond and Fort Wayne is a corporation of the State of Indiana, having its principal office at Richmond, Ind. It is controlled by the Pennsylvania Company through ownership of a majority of the outstanding capital stock. The records do not indicate that the company controls any carrier corporation.

The property of the Cincinnati, Richmond and Fort Wayne has been operated from July, 1870, the date of the completion of the first section, to date of valuation, as follows:

By own organization. July, 1870, to Dec. 24, 1871.

By Grand Rapids and Indiana (No. 3), under lease and agreement. Dec. 25, 1871, to Sept. 30, 1884.

By Grand Rapids and Indiana (No. 4), under agreement. Oct. 1, 1884, to June 9, 1896.

By John C. Sims June 10, 1896, to July 31, 1896.

By the Grand Rapids & Indiana, under lease and agreement. Aug. 1, 1896, to date of valuation.

When the Cincinnati, Richmond and Fort Wayne succeeded, by change of corporate name, to the Cincinnati and Fort Wayne Railroad Company, effective July 5, 1866, it opened new records and did not take into its accounts, at that time, any of the balances recorded in the records of the previous company. For this reason and because of the incompleteness of the accounting records of the predecessor company that are obtainable, a separate report is made on each company.

Corporate History

The Cincinnati, Richmond and Fort Wayne was incorporated on October 8, 1857, under the general laws of Indiana, as the Cincinnati and Fort Wayne Railroad Company, for the purpose of constructing a railroad from Fort Wayne to the east line of Wayne County, Ind. On July 5, 1866, the corporate name was changed to Cincinnati, Richmond and Fort Wayne Railroad Company, a certificate to this effect dated January 5, 1871, being filed in the various counties traversed by the railroad.

Development of Fixed Physical Property

The property acquired by the Cincinnati, Richmond and Fort Wayne from the Cincinnati and Fort Wayne Railroad Company on July 5, 1866, consisted of an uncompleted railroad lying between Richmond and Adams Junction, on which no rail had been laid. Construction of this property had been begun in about the year 1853, the construction work being performed principally by Wm. Sturgis, contractor. It could not be ascertained from the records that are obtainable whether or not the contractor was in any way affiliated with the Cincinnati and Fort Wayne Railroad Company. Little construction work was performed after 1855.

The Cincinnati, Richmond and Fort Wayne resumed construction work in 1866, the work being done principally under contract by De Graff & Sons. About 25 miles of the railroad, extending from Richmond to Winchester, were opened for operation by the Cincinnati, Richmond and Fort Wayne in July, 1870. The remaining portion of the road, from Winchester to Adams Junction, about 60 miles, was completed on December 25, 1871, and opened for operation by the Grand Rapids and Indiana (No. 3), under lease and agreement between the Cincinnati, Richmond and Fort Wayne and a representative of the Pennsylvania Railroad.

Leased Railway Property

The entire property of the Cincinnati, Richmond and Fort Wayne is operated by the Grand Rapids & Indiana under the terms of a lease and agreement dated June 1, 1871, and the terms of a notice dated August 1, 1896, as described in detail in the report on the latter company. The report filed with us for the year ended on date of valuation classified the amount received from the operation of its property by the Grand Rapids & Indiana, in the amount of $166,770.45, as income from lease of road, as has already been explained.