THE PITTSBURG AND WESTERN RAILWAY COMPANY.
This company is the result of a number of incorporations, sales and reorganizations of railroads in Ohio and Pennsylvania.
The first in order of date was the incorporation of the Painesville and Youngstown Railroad Company, March 17, 1870. (Rec. of Corp., vol. 8, page 64.) Little was done by this company until 1873, when on the 22nd of May a new certificate was filed by the company. (Rec. of Corp., vol. 12, page 356.)
The same year on June 25, the Parker and Karns City Railroad Company was incorporated in Pennsylvania to build a railroad from Parker to Karns City, Pa., where the road united with the Karns City and Butler Railroad [Railroard], which company was organized on the same day, June 25, 1873, under the laws of Pennsylvania, and both were incorporated with the Pittsburg and Western Company. In January, 1879, the Pittsburg and Northwestern Railroad Company opened a narrow [narow] gauge railroad from Etna to Zillanapolis, Pa., thirty miles in length. On the 24th of September, 1879, this road was sold under foreclosure proceedings, a new charter was obtained and the name of the company changed to the Pittsburg and Western Railroad Company. This was done on June 15, 1881. Only three months previous, on March 14, 1881, the Pittsburg, Bridgeford and Buffalo Railroad Company was organized under the laws of Pennsylvania to construct a road from Foxburg to Karns, Pa. On September 25, 1883, this company was consolidated with the Pittsburg and Western Company, taking the name of the latter company. On June 9, 1881, the Pittsburg and East-West Railroad Company, a Pennsylvania company, was consolidated with the Pittsburg and Western Railroad Company, the company taking the name of the Pittsburg and Western Railway Company. On December 15, 1881, the Red Bank and Youngstown Railroad Company, a Pennsylvania corporation, was incorporated under the laws of that State, and on December 25, 1881, was consolidated with the Pittsburg and Western Company. On May 1, 1882, the Pittsburg, Cleveland and Toledo Railroad Company was incorporated in Ohio. (Rec. of Corp., vol. 25, page 382.) This company consolidated with a Pennsylvania company of the same name on June 29, 1882. (Rec. of Corp., vol. 25, page 45.) On July 18, 1884, the road of this company was leased to the Pittsburg and Western Company for ninety-nine years. On November 21, 1882, the Pittsburg and Bridgeford Railway Company was consolidated with the Pittsburg and Western Company. (Rec. of Corp., vol. 28, page 411. On January 19, 1886, the Youngstown and State Line Railroad Company was incorporated. (Rec. of Corp., vol. 24, page 203.) Subsequently this company was merged and consolidated with the Pittsburg and Western Company. On May 6, 1886, the Painesville and Youngstown Railway Company was incorporated. (Rec. of Corp., vol. 34, page 381.) On June 13, 1886, the road was sold under foreclosure proceedings and name changed to Pittsburg, Painesville and Fairport Railway Company. The line of this road is from Niles to Fairport, fifty-three miles, with the Windron branch 8.50 miles in length. This line is also operated by and is part of the Pittsburg and Western line. In 1877 the Pittsburg, New Castle and Lake Erie Railroad Company, a Pennsylvania coporation(sp), was incorporated and has now become a part of the Pittsburg and Western line. On June 27, 1889, the Pittsburg and Western Company filed a certificate for building a branch from Burton, Geauga county, to East Orrville, Ashtabula county, fifteen miles in length. (Rec. of Corp., vol. 43, page 381.)
Line of road and mileage:
CLEVELAND, LORAIN AND WHEELING RAILWAY COMPANY.
The history of this company dates back to the incorporation of the Lake Shore and Tuscarawas Valley Railway Company, July 2, 1870. (Rec. of Corp., vol. 7, page 446). On October 21, 1872, this company purchased from the Elyria and Black River Railway Company (incorporated December 20, 1871, Rec. of Corp., vol. 9, page 343); the road from Elyria to Black River Harbor, eight miles in length. On March 5, 1873, the company filed a supplemental certificate for the extension of its line into Washington Township. (Rec. of Corp., Vol. 12, page 133.) The company becoming embarrassed and unable to meet its interest on first mortgage bonds, suit was brought to foreclose the mortgage, and in July, 1874, a receiver was appointed. On January 30, 1875, the property was sold at judicial sale to Selah Chamberlain and by him conveyed to five others, who organized a new Cleveland, Tuscarawas Valley and Wheeling Railway Company, February 5, 1875. (Rec. of Corp., vol. 14, page 405.)
On March 21, 1877, the company filed a certificate for building a line from Uhrichsville, via Bridgeport, to a point on the Ohio river at West Wheeling. (Rec. of Corp., vol. 16, page 421). On March 1, 1883, the certificate of the Cleveland, Lorain and Wheeling Railroad Company was filed. (Rec. of Corp., vol. 25, page 70.) This incorporation was the result of the sale of the Cleveland, Tuscarawas Valley and Wheeling Railway. On April 25, 1887, the Cleveland and Southwestern Railway Company was incorporated for building a railroad from Cleveland to Zanesville, Ohio. (Rec. of Corp., vol. 40, page 73.) On May 11, 1893, the Cleveland, Tuscarawas Valley and Wheeling Railroad Company was consolidated with the Cleveland and Southwestern Railway Company, taking the name of the Cleveland, Lorain and Wheeling Railway Company, the certificate of incorporation being filed the same day. (Rec. of Corp., vol. 61, page 120.)
The line of road extends from Cleveland and Black River Harbor (Lorain) to Bridgeport, on the Ohio river opposite Wheeling, W. Va., with branch lines from Bridgeport to Bellaire, Ohio, and to Martins Ferry, Ohio. The road passes through the counties of Cuyahoga, Lorain, Medina, Wayne, Summit, Stark, Tuscarawas, Harrison and Belmont.
The total length of main line and banches branches is 192.30 miles.
WHEELING AND LAKE ERIE RAILROAD COMPANY.
This company was incorporated April 6, 1871. (Rec. of Corp., vol. 8, page 438.) The company struggled under financial difficulties for seven years, and in 1878 the road went into the hands of a receiver and was held by him until June t4, 1880, and came back into the hands of the company by judicial sale.
On December 22, 1873, the Huron branch was incorporated, and on December 30 the Norwalk and Bellevue Company was incorporated. That part of the main line from Milan to Massillon was opened for traffic January 9, 1882. From Massillon to Valley Junction, 18.9 miles, and Norwalk to Toledo, 63.2 miles, were opened for traffic August 24, 1882.
The Wheeling and Lake Erie Railroad Company includes the properties formerly owned by the Wheeling and Lake Erie Railway Company; the Cleveland, Canton and Southern Railway Company; Cleveland Belt and Terminal Railroad Company, and the Coshocton and Southern Railroad Company, but it is a reorganization of the first-named company and the properties of other companies were purchased by it.
The property of the Cleveland, Canton and Southern Railway Company has been operated by the Wheeling and Lake Erie Railroad Company since August l4, 1889:
The main line extends:
CHICAGO AND ERIE RAILROAD COMPANY.
Under an act passed by the General Assembly of the State of Ohio in May, 1852, there was organized on November 16, 1871, what was known as the Baltimore, Pittsburg and Continental Railroad Company, having for its object the construction of a line of railroad, the termini of which should be "a point on the line between the State of Ohio and Pennsvlvania, [Pensylvania] at or near the northeast corner of Union Township, in Columbiana county, Ohio, thence through the counties of Columbiana, Stark, Carroll, Tuscarawas, Wayne, Holmes, Ashland, Richland, Morrow, Marion, Hardin, Allen, Auglaize and Mercer to a point on the State line between the States of Ohio and Indiana at or near the northwest corner of Liberty Township in said Mercer County Ohio." The company was capitalized at one million dollars, divided into shares of fifty dollars each. The certificate of incorporation was filed in the office of the Secretary of State of the State of Ohio on November 26, 1871.
On December 1, 1871, the Chicago, Continental and Baltimore Railway Company was organized "for the purpose of constructing, owning and maintaining a railroad from a point on the State line between the States of Indiana and Illinois, at or near Section 36, Town. 37, Range 10 West, in the State of Indiana, thence through the counties of Lake, Porter, LaPorte, Stark, Marshall, Fulton, Wabash, Kosciusko, Huntington, Wells and Adams, to the State line between the States of Indiana and Ohio, at or near a point where the line dividing the townships of Liberty and Black Creek in Mercer County intersects the said State line, a distance of one hundred and sixty-five miles." This company was organized under the laws of the State of Indiana with a capital of two million dollars, the articles of association being filed in the office of the Secretary of the State of Indiana on December 8, 1871.
At a meeting of the Board of Directors of the C., C. & B. Railway Company, held on February 12, 1873, the name of the company was changed to that of the Chicago and Atlantic Railway Company, notice of the change of name being filed with the Secretary of the State of Indiana, and also published in a newspaper in each county along the line of the said proposed railroad.
On March 15, 1873, the Chicago and Atlantic Extension Railway Company was organized under the laws of the State of Illinois, for the term of fifty years, with a capital of one million dollars, its certificate being filed in the office of the Secretary of State on April 4, 1873. This company had for its object the "proposed construction, operation and maintenance of a railway from a point on the western boundary of the State of Indiana north of the southern boundary of the County of Cook, in the State of Illinois, to a point or points within the city limits of the City of Chicago, in the County of Cook, of the State of Illinois, with such branches, sidetracks, passenger and freight depots as may be necessary to fully carry out the objects and intentions of this corporation."
On June 19, 1873, pursuant to resolution of the directors of both companies, and due notice to the stockholders, the Chicago and Atlantic Railway Company and the Chicago and Atlantic Extension Railway Company were consolidated under the name of the Chicago and Atlantic Railway Company, with a capital stock of four million dollars, which amount was to be increased to seven million dollars provided the contemplated work required such additional capital. The articles of association of the consolidated company were filed in the office of the Secretary of State of the State of Indiana on July 12, 1873, and in the office of the Secretary of State of the State of Illinois July 19, 1873.
On July 15, 1873, the Chicago and Atlantic Railway Company and the Baltimore, Pittsburg and Continental Railroad Company were consolidated under the statutes of the States of Illinois, Indiana and Ohio authorizing the consolidation of railroad companies and railroads. The new company was known as the Chicago and Atlantic Railway Company, and the articles of consolidation were filed in the office of the Secretary of State of the State of Ohio on August 6, 1873, in the office of the Secretary of State of the State of Indiana on August 6, 1873, and in the office of the Secretary of State of the State of Illinois on August 7, 1873. The capital stock of the above consolidated company was seven million dollars. In June, 1880, the stock was increased to ten million dollars, and "for the purpose of constructing and equipping the line of railroad extending from the City of Chicago in the State of Illinois, to Marion in the State of Ohio," the stockholders authorized the issue of $6,500.00 of first mortgage coupon bonds, for the security of which the directors were authorized to mortgage the line and property owned or to be owned or acquired. Notice of the increase in the capital stock was filed in the office of the Secretary of State of the State of Ohio on November 24, 1880.
In October, 1880, a contract was entered into between J. E. Conant (who afterwards associated with him one J. Condit Smith) and the Railroad Company, whereby Conant agreed to construct and equip the road in consideration of his receiving the foregoing issue of bonds and stock. To secure the construction of the road and its future management to the satisfaction of the parties proposing to purchase these bonds, it was agreed that the entire proceeds thereof, together with certain subsidies which had been voted by the counties and townships along the proposed line, should be deposited with the President of the N. Y., L. E. & W. R. R. Co. in trust, and the duty was devolved upon him of seeing to the proper application thereof to the construction of the road. It was further stipulated that ninety per cent. of the stock should also be deposited with him with the irrevocable proxy to vote thereon during the life of the bonds (thirty years from the date thereof), thereby securing to the N. Y., L. E. & W. R. R. Co. the absolute control of the road for such period. This contract also provided for a traffic agreement between the Chicago and Atlantic, the New York, Pennsylvania and Ohio and the N. Y., L. E. & W. R. R. Companies. Under this agreement the tracking of the road was completed in 1882, and the road opened for through traffic in June, 1883.
Trackage from Hammond, Indiana, and terminal facilities in the City of Chicago were had through a lease from the Chicago and Western Indiana Railroad Company, under date of November 1, 1880, whereby, in consideration of such facilities, the Chicago and Atlantic Railway Company agreed to pay all assessments, water rents, liens, taxes, etc., levied against the property of which it had exclusive use, and to make certain stipulated monthly payments sufficient to meet the interest on the bonds issued by the C. & W. I. R. R. Co. against the C. & A. lease, and, after January 1, 1885, to make additional monthly payments sufficient to retire such bonds before maturity.
In 1883 the Chicago and Atlantic Railway Company made provision for an issue of $5,000,000 second mortgage six per cent. gold forty-year bonds, with which to pay off its floating debt and provide for new equipment. None of these bonds was sold, but they were largely pledged for loans made by the N. Y., L. E. & W. R. R. Co. Default in the payment of interest having been made, proceedings were instituted against the road, and after a protracted litigation it was sold under foreclosure at Indianapolis, Indiana, August 12, 1890. It was then reorganized as the Chicago and Erie Railroad Company, incorporated under the laws of the State of Indiana on August 13, 1890 (the certificate of incorporation being filed in the office of the Secretary of State of the State of Indiana on the same date) and formally turned over to the N. Y., L. E. & W. R. R. Co. on September I, 1890. The plan of reorganization provided for the issue of $100,000 of stock, $12,000,000 first mortgage bonds, and $10,000,000 non-cumulative five per cent. income bonds. Of the new firsts $6,825,000 were exchanged for the old firsts, $2,000,000 were paid to the Erie for debts due, $700,000 were exchanged for old seconds, $2,000,000 were reserved for betterments, and the remainder for various expenses. Of the new seconds, $975,000 were applied to the old firsts, $4,000,000 to the old stock, and $5,000,000 to the N. Y., L. E. & W. R. R. Co. for its guarantee on the firsts. The stock was also turned over to the latter company in consideration of its guarantee on the firsts. In 1895, under the reorganization of the Erie its second preferred stock was exchanged for the income bonds of the Chicago and Erie Railroad Company.
Entrance into the city of Chicago is secured to the Chicago and Erie on practically the same terms as those under which the old Chicago and Atlantic Railway Company reached that city from Hammond, Indiana.
PITTSBURG, OHIO VALLEY AND CINCINNATI RAILROAD.
Incorporated under the name of Ohio Valley Railway Company, May 8, 1871, under the laws of Ohio.
On August 19, 1890, this company was reorganized and the name changed to the Pittsburg, Ohio Valley and Cincinnati Railroad Company. The Pennsylvania Company operates the railroad and property of this company under a temporary arrangement and pays the net earnings to this company. It has had control of the property through ownership of stock since May, 1871.
Line of road: Bellaire, Ohio, to Powhatan, Ohio, 15.27 miles.
BALITMORE BALTIMORE AND OHIO AND CHICAGO RAILROAD.
On March 13, 1872, the Baltimore, Pittsburg and Chicago Railway Company filed its certificate of incorporation with the Secretary of State of Ohio, under its general law, to construct a railroad from a point in Washington county, on a line between Ohio and Pennsylvania, passing across the State of Ohio.
March 14, 1872, a certificate of incorporation was issued by the State of Indiana, under its general law, to the Baltimore, Pittsburg and Chicago Railway Company for a railroad running across that State, and on February 27, 1873, a certificate to the same company was issued by the State of Illinois, under its general law, for a railroad connecting with the two foregoing lines to the City of Chicago.
November 3, 1876, the Ohio and Indiana companies were consolidated under the name of the Baltimore and Ohio and Chicago Railway Company, and on November 29, 1876, the Illinois corporation changed its name to the Baltimore and Ohio and Chicago Railroad Company.
The stock of this company is held by the Baltimore and Ohio Railroad Company, and the latter operates it by virtue of ownership.
Main line [linefi] from Chicago Junction, O., to Brookdale, Ill., 262.6 miles, and is known as the Chicago Division of Baltimore and Ohio Railroad system.
TOLEDO, CANADA SOUTHERN AND DETROIT RAILWAY.
Incorporated July 19, 1872, under laws of Ohio and Michigan. A consolidation of the Detroit and State Line Railroad Company, organized under a general law of State of Michigan, entitled, "An act to revise the laws providing for the incorporation of railroad companies," approved April 18, 1871; and the Junction Railroad Company, organized under a general law of Ohio, entitled, "An act to provide for the creation and regulation of incorporated companies in the State of Ohio," approved May 1, 1852; and the acts supplementary and amendatory thereto. Michigan Company organized February 21, 1872, Ohio Company organized February 23, 1872.
The line of road extends from Springwells, Mich., to Toledo, Ohio, 58.92 miles, and is operated by the Michigan Central Railroad Company under an agreement dated December 12, 1882, between it and the Canada Southern Railway Company, for joint operation during a term of twenty-one years. The Canada Southern Railway Company is the owner of substantially all the stock and bonds of this company, and the property is operated as a division of that system.
Twenty-nine railroad companies were incorporated in 1873. Only five of the companies built all or portions of their roads.
Cincinnati, Georgetown and Portsmouth Railroad. This company was incorporated as the Cincinnati and Portsmouth Railroad Company March 1, 1873, Rec. of Corp., vol. 12, page 126. It was not until 1876 that work was begun on this road. After the company had expended about a quarter of a million of dollars for construction and equipment, with only twenty-one miles of road built, it became embarrassed and a receiver was appointed by the Clermont County Common Pleas Court, and on September 4, 1880, the road was sold to Henry Brochman, who with his associates organized the Cincinnati, Georgetown and Portsmouth Railroad Company, filing their certificate of incorporation October 27, 1880, Rec. of Corp., Vol 20, page 240.
The road at present only extends from Cincinnati, Ohio, to Georgetown, Clermont county, Ohio, a distance of forty-two miles.
Cincinnati and Westwood Railroad Company. This company was incorporated May 20, 1874, Rec. of Corp., v. 13, p. 46. The road of this company is all within the corporate limits of the City of Cincinnati, and was first built as a narrow gauge, but in 1891 was changed to standard gauge at an expense of about one hundred thousand dollars. The road was operated as both passenger and freight traffic until August 1, 1896, when the passenger business was abandoned, since which time freight only has been carried on account of the building of the Cincinnati street lines to Westwood.
The line of road extends from Brighton Station on the Cincinnati, Hamilton and Dayton Railroad in a northerly direction a distance of 5.63 miles to a point in Westwood in Cincinnati.
PITTSBURG AND LAKE ERIE RAILROAD.
Incorporated May 8, 1875, under the laws of Ohio and Pennsylvania. The Youngstown and Pittsburg Railroad Company was chartered April 25, 1877, under the laws of Ohio.
On January 5, 1878, these two companies were consolidated.
The main line extends from Pittsburg, Pa., to Youngstown, Ohio, 68 miles.