Wikipedia:WikiProject Trains/ICC valuations/Englewood Connecting Railway
Interstate Commerce Commission, Volume 24, Valuation Reports
Englewood Connecting Railway
[edit]Location and General Description of Property
[edit]The railroad of Englewood Connecting Railway Company, herein called the Englewood Connecting Railway, is a single-track, standard-gauge railroad, 2.339 miles in length, extending from a connection with the Panhandle to a connection with the Pittsburgh, Fort Wayne and Chicago Railway Company, all within the city of Chicago, Ill. In addition, the Englewood Connecting Railway owns 0.410 mile of second main track and 2.729 miles of yard track and sidings. Its road thus embraces 5.478 miles of all tracks. All of the property owned by the Englewood Connecting Railway is operated by the Panhandle.
Corporate History
[edit]The Englewood Connecting Railway was incorporated by the Chicago, Saint Louis and Pittsburgh Railroad Company, a predecessor of the Panhandle, on March 21, 1885, under the general laws of Illinois, for the purpose of acquiring certain tracks, rights of way, and real estate, which were owned by the Chicago, Saint Louis and Pittsburgh Railroad Company, all in the city of Chicago. The organization of the company was perfected April 9, 1885. Its principal office is located at Chicago. The Englewood Connecting Railway acquired its railroad by purchase from the Chicago, Saint Louis and Pittsburgh Railroad Company, which company operated the property to September 30, 1890, subsequent to which date it has been operated by the Panhandle. The development of fixed physical property is related in Appendix 2.
Development of Fixed Physical Property
[edit]By deed dated September 28, 1S85, the Chicago, Saint Louis and Pittsburgh Railroad Company conveyed to the Englewood Connecting Railway certain real estate, right of way, and about 2.34 miles of track in the city of Chicago. The construction of this track was begun by the Chicago, Saint Louis and Pittsburgh Railroad Company in 1883, and when completed apparently became the property of the Englewood Connecting Railway prior to the date of formal conveyance by deed, as they were opened for operation by the Chicago, Saint Louis and Pittsburgh Railroad Company on September 11, 1885, for account of the Englewood Connecting Railway without written agreement.
Leased Railway Property
[edit]On date of valuation the entire property of the Englewood Connecting Railway was solely operated and maintained by the Panhandle, without a written agreement. For the sole use of the property, the Panhandle pays as rental the net earnings resulting from operating the property. For the year ended on December 31, 1915, the operation by the Panhandle resulted in a deficit of $7,051.93, which amount the Englewood Connecting Railway charged to income from lease of road. It is not possible to separate this amount so as to show the results of operation by the Panhandle for the six months ended on December 31, 1915, nor is it possible to show such results for the year ended with date of valuation.