Jump to content

Wikipedia:WikiProject Trains/ICC valuations/Terre Haute and Peoria Railroad

Add links
From Wikipedia, the free encyclopedia

http://books.google.com/books?id=4WZhq92pVYMC

Terre Haute and Peoria Railroad

[edit]

Location and General Description of Property

[edit]

The railroad of Terre Haute and Peoria Railroad Company, herein called the Terre Haute and Peoria, is a standard-gauge, single-track, steam railroad located entirely within the State of Illinois. Its railroad is composed of two separate lines, one extending from Farrington to Decatur Junction, and the other from Maroa to Farmdale. The mileage owned embraces 169.157 miles, of which 137.559 miles are main line and 31.598 miles yard tracks and sidings. All of the property of the Terre Haute and Peoria is leased to, and is operated by, the Vandalia. In addition, the Terre Haute and Peoria jointly owns 8.153 miles of all tracks, of which 7.499 miles are main line and 0.654 mile yard tracks and sidings.

Corporate History

[edit]

The Terre Haute and Peoria was incorporated under the general laws of Illinois on January 21, 1887. Its principal office is located at Pittsburgh, Pa.

The Terre Haute and Peoria acquired its wholly owned and its jointly owned mileage by purchase from individuals who had previously purchased it at foreclosure proceedings from the Illinois Midland Railway, as is more fully explained in Appendix 2. The Illinois Midland Railway was the successor to The Paris and Terre Haute Railroad Company and the Paris and Decatur Railroad Company, of which companies only the latter constructed property. The Terre Haute and Peoria operated its property from the date of its organization until September 30, 1892, when its entire line was leased to the Terre Haute and Indianapolis Rail Road Company. On January 1, 1905, the Vandalia, as successor of the Terre Haute and Indianapolis, began the operation of the property and has operated the same continuously since that date.

Detailed data with respect to the development of fixed physical property are given in Appendix 2.

[The valuation doesn't seem to have all the predecessors; here's a full list:

]

Development of Fixed Physical Property

[edit]

The entire mileage of the Terre Haute and Peoria was formerly owned by the Illinois Midland Railway and was acquired by the Terre Haute and Peoria from the various parties who purchased it when the property of the Illinois Midland Railway was sold under foreclosure proceedings, as indicated in the following tabulation:

By deed of Mar. 1, 1887, from Robert K. Dow and wife, of property constructed by the Illinois Midland Railway and opened for operation on Nov. 30, 1874:

Farrington to Paris. 12
Maroa to Farmdale. 61

By deed of Mar. 1, 1887, from Simon Borg, Paris to Hervey City, originally constructed by the Paris and Decatur Railroad Company, opened for operation on Dec. 27, 1872, conveyed to the Illinois Midland Railway on Sept. 19, 1874. 65

Wholly owned mileage. 138

By deed of June 9, 1890, from Louis Genis and wife, their undivided one-half Interest in a line from Hervey City to Decatur Junction, originally constructed jointly by the Paris and Decatur Railroad Company and the Decatur, Sullivan and Mattoon Railway Company, opened for operation on Dec. 27, 1872, the Paris and Decatur Railroad Company's undivided half Interest was conveyed to the Illinois Midland Railway on Sept. 19, 1S74, prior to the conveyance of which to the Vandalia, the other undivided half interest had come into the possession of the Decatur, Mattoon and Southern Railroad Company. 7

Total. 145

The records disclose no main line mileage to have been constructed or abandoned by the Terre Haute and Peoria since its incorporation on January 21, 1887.

Leased Railway Property

[edit]

At the date of valuation, the Terre Haute and Peoria leased to the Vandalia Its owned property for sole operation and also certain rights to the use of the property of other carriers. Under the terms of a 99-year agreement, dated and effective October 1, 1892, the Terre Haute and Peoria leased to the Terre Hante and Indianapolis, a predecessor of the Vandalia, the right to the exclusive operation of the Terre Haute and Peoria's owned line of railroad, with all appurtenances thereon. The Terre Haute and Peoria also leased its right to the joint use of about 15.44 miles of railroad extending from Decatur Junction to Maroa belonging to the Illinois Central Railroad Company, and its right to the Joint use of about 5.05 miles of track extending from Farmdale to Peoria, belonging to the Toledo, Peoria and Western Railway Company. On January 1,1905, the Vandalia, as the successor of the Terre Haute and Indianapolis, began the operation of the property formerly operated by the Terre Haute and Indianapolis, and the Vandalia has continued the operation of that property to date of valuation. Under the terms of the lease the Vandalia maintains and operates the owned property of the Terre Haute and Peoria and pays to the Terre Haute and Peoria 30 per cent of the gross earnings of the property leased. The payment for the year ended with the date of valuation amounted to $298,980.30. Out of the amount of rental received the Terre Haute and Peoria pays, among other things, taxes, interest on funded debt, and joint-facility rents. The payment for the use of the tracks of the Illinois Central Railroad Company between Decatur Junction and Maroa was based on one-half of 6 per cent per annum on a valuation of $783,719.36, for certain tracks used jointly with the owned, and 8 per cent per annum on a valuation of $17,492.10 for facilities used exclusively by the Vandalia, making a total rental of $24,561.11 for the year ended with the date of valuation. The rental for the use of the tracks of the Toledo, Peoria and Western Railway Company between Farmdale and Peoria amounted to $7,800 for the year ended with the date of valuation.

The Illinois Central Railroad Company maintains the 7.499 miles of track owned Jointly by it and the Terre Haute and Peoria and renders bills against the Vandalia for the Terre Haute and Peoria's proportion calculated on a wheelage basis. All additions and betterments and taxes are divided equally between the owners.

Retrieved from "https://en.wikipedia.org/w/index.php?title=Wikipedia:WikiProject_Trains/ICC_valuations/Terre_Haute_and_Peoria_Railroad&oldid=1226195768"