Wikipedia:WikiProject Trains/ICC valuations/Coal Belt Electric Railway
Interstate Commerce Commission, Valuation Reports, Volume 40
Coal Belt Electric Railway
[edit]Location and General Description of Property
[edit]The property of the Coal Belt Electric Railway Company, herein called the Coal Belt Electric, consists of a mostly single-track, standard-gage, electric railway, located in southern Illinois. The main line aggregates 13.320 miles of road and extends from Herrin to Energy and from Carterville to West Marion. The company also owns 0.140 mile of second main track and 6.466 miles of yard tracks and sidings. Its road thus embraces 19.926 miles of all tracks wholly owned and used. In addition, the company jointly owns and uses with other carriers 4.919 undivided miles of yard tracks and sidings, its proportion thereof based on ownership being 2.460 miles.
The Coal Belt Electric has trackage rights over 1.83 miles of road of the Missouri Pacific Railroad Company at Marion, Ill. It leases for exclusive use the Missouri Pacific Railroad Company's overhead trolley system along this track.
The Coal Belt Electric is controlled by the Missouri Pacific Railroad Company and grants trackage rights over practically its entire property to the latter carrier which operates its steam trains over the line in reaching the various coal mines in the vicinity.
Introductory
[edit]The Coal Belt Electric is a corporation of Illinois, having its principal office at East St. Louis, Ill. It is controlled by the Missouri Pacific Railroad Company through ownership of capital stock. The records reviewed do not indicate that this company controls any common-carrier corporation.
The property of this company was operated by its own organization from the date of its completion to June 30, 1904, and from February, 1910, to December 31, 1917. From July 1, 1904, to February 2, 1910, it was operated by the Coal Belt Railway Company, a predecessor of the Missouri Pacific Railroad Company. From January 1, 1918, to June 30, 1918, the date of valuation, it has been operated by the United States Railroad Administration.
Prior to 1904, the Coal Belt Electric was controlled by the Peabody Coal Company, an Illinois corporation. During that year the St. Louis, Iron Mountain and Southern Railway Company, a predecessor of the Missouri Pacific Railroad Company, acquired control of the Coal Belt Electric. The books which had been kept for this company under the Peabody Coal Company regime were discontinued on July 1, 1904. The property was operated from that date to February 2, 1910, by the Coal Belt Railway Company, no separate records being kept for the Coal Belt Electric during that period. On the latter date separate operation of the property of this company was again commenced and a new set of books were opened, the first entry therein being based on the par value of the capital stock outstanding and the assumption, on a mileage basis, of a proportion of $190,420.46 of advances made by the St. Louis, Iron Mountain and Southern Railway Company for construction and additions and betterments to both the property of this company and the Coal Belt Railway Company.
Corporate History
[edit]The Coal Belt Electric was incorporated May 28, 1901, under the general laws of Illinois, for the purpose of constructing and operating a system of street railways in and through the streets of Marion, Carterville, Herrin Spillertown, and Johnston City, all in Illinois, and connecting such municipalities with each other and with adjacent mines and factories and to furnish electric light, heat, and power throughout Williamson County, Ill.
Development of Fixed Physical Property
[edit]The entire road owned, 13.32 miles, was all acquired by construction. It was constructed under contract by P. M. Johnston, contractor, of St. Elmo, Ill. The dates of completion of the various sections of the road were not determined from the records reviewed. Part of the property was placed in operation in May, 1902. As originally constructed a branch line extended from Marion to Spillertown, about 3.82 miles. This line was abandoned in April, 1907, and the track taken up.
Leased Railway Property
[edit]The Coal Belt Electric used on December 31, 1917, 1.83 miles of track owned by the Missouri Pacific Railroad Company at Marion, for which it pays a flat rental of $193 per month. This amount is charged by the Coal Belt Electric to its operating expenses. The Missouri Pacific Railroad Company operates its trains over the tracks of this company between Marion and certain industries located along its line of road. No rental has been accrued covering such use since 1913.