Wikipedia:WikiProject Trains/ICC valuations/Indiana Stone Railroad

Interstate Commerce Commission, Valuation Reports, Volume 25

Indiana Stone Railroad

Location and General Description of Property

The railroad of the Indiana Stone Railroad is a single-track, standard-gauge, steam railroad, located in the south-central part of Indiana. The owned mileage extends southerly from Clear Creek, Ind., to Harrodsburg, Ind., 9.400 miles. The Indiana Stone Railroad also owns yard and side tracks totaling 6.399 miles. Its road thus embraces 15.799 miles of all tracks owned. All of its property is leased to and operated by the carrier. The railroad of the Indiana Stone Railroad connects at Clear Creek, Ind., and at Harrodsburg, Ind., with the railroad of the carrier.

Corporate history

The Indiana Stone Railroad was incorporated on January 3, 1898, under the general laws of the State of Indiana, for the purpose of constructing a railroad from Clear Creek to Harrodsburg, Ind. All of the owned mileage of the Indiana Stone Railroad was constructed for it by the carrier between June, 1898, and September 1, 1899.

Leased Railway Property

The entire property of the Indiana Stone Railroad is leased to the carrier for sole operation under a 99-year lease dated September 1, 1899. Under the terms of the lease the carrier guarantees the principal of the outstanding bonds of the Indiana Stone Railroad and pays the interest thereon as rental. It also pays the taxes on the property and maintains the same. The rental accrued for the year ended on date of valuation amounts to $12,650.