Wikipedia:WikiProject Trains/ICC valuations/Chicago, Kalamazoo and Saginaw Railway

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INTRODUCTORY

The Chicago, Kalamazoo and Saginaw is a corporation of the State of Michigan, having its principal office at Detroit, Mich. It is controlled by The Michigan Central Railroad Company through ownership of a majority of the outstanding capital stock. On the other hand, the records reviewed do not indicate that this company, itself, controls any common-carrier corporation. The main line property of the Chicago, Kalamazoo and Saginaw was operated by the contractor by whom it was built from the date of its completion, in 1889, until December 1, 1895. From the latter date until December 31, 1917, it was operated by the Chicago, Kalamazoo and Saginaw's own organization. On January 1, 1918, the property was taken over for operation by the United States Railroad Administration and was so operated on date of valuation.

CORPORATE HISTORY

The Chicago, Kalamazoo and Saginaw was incorporated July 3, 1883, under the general laws of the State of Michigan, for the purpose of the general laws of the State of Michigan, for the purpose of constructing a railroad between Kalamazoo and Hastings, Mich. By an amendment dated October 29, 1887, the termini of the road to be constructed were changed to a point on the line of the Chicago and Grand Trunk Railroad Company in the northeastern part of Cass County, through the cities of Kalamazoo and Hastings, to the City of Saginaw, all within the State of Michigan.

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The Chicago, Kalamazoo and Saginaw's railroad was acquired by construction and opened for operation as follows:

Location Date opened for operation Mileage
Kalamazoo to Woodbury Sept. 1, 1889 45.910
Kalamazoo to Pavilion December, 1901 9.356
Jointly owned main track in Pavilion December, 1901 0.155
Total 55.421

The line from Kalamazoo to Woodbury was constructed under contract by the Kalamazoo and Hastings Construction Company, Limited, hereinafter referred to as the contractor, an affiliated company. This property was operated by the contractor from September 1, 1889, to December 1, 1895, pending the settlement of the construction contract.


and the rentals accrued and charged or credited to income for the year ended December 31, 1917, are as follows:

Solely owned but not used, leased to Grand Trunk Western Railway Company:
9.356 miles of main track and 9.705 miles of all tracks, Pavilion Junction (Kalamazoo) to Pavilion; term, 99 years from Aug. 1, 1910; rental, $3,000 per annum, all taxes and assessments and cost of maintenance and 4 per cent per annum on additions and betterments. Right reserved to use premises in common with lessee on sixty days' notice $3,000.00
Jointly owned but not used:
0.155 mile of main track and 0.305 mile of all tracks, at Pavilion, owned jointly with Grand Trunk Western Railway Company, used solely by the latter; rental included in property described above
Solely owned but jointly used, used with The Chicago and Kalamazoo Terminal Railroad Company:
0.160 mile of main track and 2.280 miles of all tracks, Portage Street to Mill Street, Kalamazoo; term, 99 years from Aug. 1, 1910; rental, 4 per cent per annum on one-half of valuation and of any additions and betterments and one-half of taxes; maintenance, and joint operation 3,323.36
Jointly used but not owned, owned by The Chicago and Kalamazoo Terminal Railroad Company:
Yard tracks and sidings at Kalamazoo; term, 99 years from Aug. 1, 1910; rental, 4 per cent per annum on one-half of valuation and one-half of taxes; maintenance, and joint operation 86.88
GENERAL BALANCE SHEET STATEMENTS