Wikipedia:WikiProject Trains/ICC valuations/Joliet and Chicago Railroad

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CORPORATE HISTORY

The Joliet and Chicago was incorporated by special act of the Legislature of the State of Illinois, February 15, 1855, and amendment thereto approved February 20, 1861, for the purpose of constructing and operating a railroad from Joliet to Chicago, Ill., about 37 miles. The date of organization of the Joliet and Chicago was not determined.

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The owned road of the Joliet and Chicago taken over by its lessee on July 1, 1864, consisting of 36.25 miles between Chicago and Joliet, Ill., had been acquired by construction with its own forces in 1857 and 1858. Since 1864, 0.97 mile of the road has been abandoned or converted as other than main track. The main line has been further reduced by 2.516 miles through realignment and reclassification of existing tracks, leaving 32.764 miles of first main track owned on date of valuation.

The mileage jointly owned by the Joliet and Chicago was acquired in part by purchase from the Pittsburg, Fort Wayne, and Chicago Rail Road Company in 1857 and in part through consolidations with other companies in 1898 in connection with track elevation in Chicago. All additional tracks and structures and changes of the original road since 1864 have been made by the successive lessees.

HISTORY OF CORPORATE FINANCING