Wikipedia:WikiProject Trains/ICC valuations/Kankakee and Seneca Railroad

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The railroad of Kankakee and Seneca Railroad Company, hereinafter called the carrier, is a single-track standard-gauge steam railroad, located in the northeastern part of Illinois. The owned mileage extends northwestwardly from Kankakee, Ill., to Seneca, Ill., a distance of 42.260 miles. The carrier also owns yard and side tracks totaling 6.703 miles. Its road thus embraces 48.963 miles of all tracks owned. From the opening of the road it has been operated by the carrier through an agent, the Cincinnati, Indianapolis, St. Louis and Chicago Railway Company, and its successor, The Cleveland, Cincinnati, Chicago & St. Louis Railway Company. In Appendix 1 will be found a general description of the property of the carrier.

Corporate history.—The carrier was incorporated March 7, 1881, under the general laws of the State of Illinois, to construct and own a railroad extending from Kankakee to Seneca. The Cleveland, Cincinnati, Chicago & St. Louis Railway Company and The Chicago, Rock Island and Pacific Railway Company each owns one-half of the capital stock, by reason of whicli fact the two companies have controlled the carrier since organization. The detailed facts as to the development of the fixed physical property are given in Appendix 2.

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

APPENDIX 2

The property owned by the carrier on date of valuation was constructed for it by the Cincinnati, Indianapolis, St. Louis and Chicago Railway Company and The Chicago, Rock Island and Pacific Railway Company, under a contract dated July 26, 1881, providing for the construction and operation of the property. The entire line was opened for operation in 1882.

HISTORY OF CAPITAL FINANCING