Wikipedia:WikiProject Trains/ICC valuations/De Pue, Ladd and Eastern Railroad

Interstate Commerce Commission, Valuation Reports, Volume 137

The De Pue, Ladd and Eastern Railroad Company

Location and General Description of Property

The railroad of The De Pue, Ladd and Eastern Railroad Company herein called the De Pue, Ladd and Eastern, is a single-track line located entirely within the State of Illinois, extending from Ladd to Seatonville, 3.259 miles. All of this company's property is leased to the North Western, with the exception of 0.415 mile of yard tracks and sidings leased jointly to The New York Central Railroad Company and the Chicago, Milwaukee and St. Paul Railway Company.

Introductory

The De Pue, Ladd and Eastern is a corporation of the State of Illinois having its principal office at Chicago, Ill. There were no available accounting records of the De Pue, Ladd and Eastern for the period from the date of its organization to August 25, 1902. For that reason only partial information can be given from the accounts in connection with its financial dealings, corporate operations, or investments. Certain information, given below, pertaining to the first-mentioned period has been taken from sources other than the accounting records of the company. The De Pue, Ladd and Eastern is controlled by the North Western through ownership of the entire outstanding capital stock. On the other hand, the records reviewed do not indicate that this company controls any common-carrier corporation. The property was operated by the company's own organization from date of completion of construction to December 12, 1902. From the latter date to date of valuation it has been operated by the North Western.

Corporate History

The De Pue, Ladd and Eastern was incorporated July 16, 1888, under the general laws of the State of Illinois, for the purpose of constructing and operating a railroad from De Pue to Seatonville, Ill., thence to Ladd, Ill., together with two branch lines. The date of organization was July 27, 1888.

Development of Fixed Physical Property

The owned mileage, extending from Ladd to Seatonville, Ill., 3.259 miles, was acquired by construction during 1890. The records reviewed do not indicate whether the construction work was performed by the company's own forces or under contract.

Leased Railway Property

With the exception of 0.415 mile of yard tracks at Ladd, Ill., the entire property of the De Pue, Ladd and Eastern is leased to the North Western for a term of 99 years from December 12, 1902. The terms of the lease are given in the chapter on leased railway property in the report on the North Western.

The owned yard tracks at Ladd, Ill., of 0.415 mile referred to are leased jointly to The New York Central Railroad Company and the Chicago, Milwaukee and St. Paul Railway Company, but the rental considerations or period of such lease arrangements were not obtained.