CEDAR FALLS AND MINNESOTA RAILROAD - Revision history

Randylyon at 16:02, 18 November 2016

2016-11-18T16:02:10Z

← Older revision		Revision as of 16:02, 18 November 2016
Line 1:		Line 1:
	[[File:cfmm.gif\|300px\|thumb\|left\|]]CEDAR FALLS AND MINNESOTA RAILROAD. The Cedar Falls and Minnesota Railroad was incorporated in on April 16, 1858 under the laws of Iowa and was controlled by [[SMITH, Platt\|Platt SMITH]], Colonel R. B. Mason of the Illinois Central, and others associated with the [[DUBUQUE AND SIOUX CITY RAILROAD]]. (1) Its purpose was to construct a railroad from a point on the Dubuque and Sioux City Railroad through Waverly and Charles City to the Minnesota border. (2) There it was connected with the "Cedar Valley and Minneapolis" Road, (108 miles,) extending to St. Paul. The ground was so level that not a cut or filling of more than ten feet was required. (3)		[[File:cfmm.gif\|300px\|thumb\|left\|]]
			[[File:CFRR.jpg\|300px\|thumb\|left\|]]CEDAR FALLS AND MINNESOTA RAILROAD. The Cedar Falls and Minnesota Railroad was incorporated in on April 16, 1858 under the laws of Iowa and was controlled by [[SMITH, Platt\|Platt SMITH]], Colonel R. B. Mason of the Illinois Central, and others associated with the [[DUBUQUE AND SIOUX CITY RAILROAD]]. (1) Its purpose was to construct a railroad from a point on the Dubuque and Sioux City Railroad through Waverly and Charles City to the Minnesota border. (2) There it was connected with the "Cedar Valley and Minneapolis" Road, (108 miles,) extending to St. Paul. The ground was so level that not a cut or filling of more than ten feet was required. (3)

	Work on the Cedar Falls to Waverly section was completed during the [[CIVIL WAR]]. (4) The first train left Waverly for Dubuque on March 13, 1865. Charles City was reached on October 18, 1868 and the Minnesota state line at Mona on May 1, 1870. (5)		Work on the Cedar Falls to Waverly section was completed during the [[CIVIL WAR]]. (4) The first train left Waverly for Dubuque on March 13, 1865. Charles City was reached on October 18, 1868 and the Minnesota state line at Mona on May 1, 1870. (5)

Randylyon at 01:35, 25 October 2014

2014-10-25T01:35:29Z

← Older revision		Revision as of 01:35, 25 October 2014
Line 1:		Line 1:
	~~This entry is being edited.~~

	[[File:cfmm.gif\|300px\|thumb\|left\|]]CEDAR FALLS AND MINNESOTA RAILROAD. The Cedar Falls and Minnesota Railroad was incorporated in on April 16, 1858 under the laws of Iowa and was controlled by [[SMITH, Platt\|Platt SMITH]], Colonel R. B. Mason of the Illinois Central, and others associated with the [[DUBUQUE AND SIOUX CITY RAILROAD]]. (1) Its purpose was to construct a railroad from a point on the Dubuque and Sioux City Railroad through Waverly and Charles City to the Minnesota border. (2) There it was connected with the "Cedar Valley and Minneapolis" Road, (108 miles,) extending to St. Paul. The ground was so level that not a cut or filling of more than ten feet was required. (3)		[[File:cfmm.gif\|300px\|thumb\|left\|]]CEDAR FALLS AND MINNESOTA RAILROAD. The Cedar Falls and Minnesota Railroad was incorporated in on April 16, 1858 under the laws of Iowa and was controlled by [[SMITH, Platt\|Platt SMITH]], Colonel R. B. Mason of the Illinois Central, and others associated with the [[DUBUQUE AND SIOUX CITY RAILROAD]]. (1) Its purpose was to construct a railroad from a point on the Dubuque and Sioux City Railroad through Waverly and Charles City to the Minnesota border. (2) There it was connected with the "Cedar Valley and Minneapolis" Road, (108 miles,) extending to St. Paul. The ground was so level that not a cut or filling of more than ten feet was required. (3)

Randylyon at 01:35, 25 October 2014

2014-10-25T01:35:04Z

← Older revision		Revision as of 01:35, 25 October 2014
Line 1:		Line 1:
	~~[[File:cfmm~~.gif\|300px\|thumb\|left\|]]CEDAR FALLS AND MINNESOTA RAILROAD. The Cedar Falls and Minnesota Railroad was incorporated in on April 16, 1858 under the laws of Iowa and was controlled by [[SMITH, Platt\|Platt SMITH]] and Colonel R. B. Mason of the Illinois Central. (1) Its purpose was to construct a railroad from a point on the [[DUBUQUE AND SIOUX CITY RAILROAD]] through Waverly and Charles City to the Minnesota border. (2)		This entry is being edited.

	The Cedar Falls and Minnesota Railroad, ~~from Cedar Falls to~~ the ~~State line~~ of ~~Minnesota~~, ~~was under contract to Erastus Edgerton and Company~~ of ~~New-York~~, ~~for~~ the ~~sum of $~~1~~,025,000. This road~~ was to ~~end at Otranto, at~~ the Minnesota ~~state line~~. There it was connected with the "Cedar Valley and Minneapolis" Road, (108 miles,) extending to St. Paul. The ground was so level that not a cut or filling of more than ten feet was required. (3)		[[File:cfmm.gif\|300px\|thumb\|left\|]]CEDAR FALLS AND MINNESOTA RAILROAD. The Cedar Falls and Minnesota Railroad was incorporated in on April 16, 1858 under the laws of Iowa and was controlled by [[SMITH, Platt\|Platt SMITH]], Colonel R. B. Mason of the Illinois Central, and others associated with the [[DUBUQUE AND SIOUX CITY RAILROAD]]. (1) Its purpose was to construct a railroad from a point on the Dubuque and Sioux City Railroad through Waverly and Charles City to the Minnesota border. (2) There it was connected with the "Cedar Valley and Minneapolis" Road, (108 miles,) extending to St. Paul. The ground was so level that not a cut or filling of more than ten feet was required. (3)

	~~The Company paid~~ the ~~contractors in~~ the ~~following manner: $600,000 of their~~ first ~~mortgage 7% Bonds; $40~~,~~000 Mitchell County 10% Bonds; $60~~,~~000 Floyd County 10% Bonds; $50,000 in lands, deeded along~~ the line ~~of road; $100,000 in cash, and $175,000 in stock and subscriptions to stock -- in all $~~1,~~025,000. The Company was to issue $650,000 of first mortgage 7% bonds, $50,000 of which was for their own account. This created a bonded debt of about $8,500 per mile~~. (4)		Work on the Cedar Falls to Waverly section was completed during the [[CIVIL WAR]]. (4) The first train left Waverly for Dubuque on March 13, 1865. Charles City was reached on October 18, 1868 and the Minnesota state line at Mona on May 1, 1870. (5)

	~~Seeing the great importance of this road~~, ~~and the increased amount of traffic that must result from it~~, the ~~[[ILLINOIS CENTRAL RAILROAD]], Galena and Chicago Union, and~~ the Dubuque and Sioux City ~~roads created a sinking fund for the cancellation of these bonds,~~ by paying to the ~~trustees of the Company bonds referred to, (for five years,) 15%~~ of ~~all~~ the ~~gross earnings from business passing to~~ and ~~from all points upon~~ the ~~Cedar Falls and Minnesota Railroad over~~ the ~~roads of the above-named companies. This gave these bonds an increased value~~. (5)		At a heated stockholders meeting begun in Dubuque on February 14, 1887, the Illinois Central was able to buy the Dubuque and Sioux City Railroad by paying $80.00 per share. This was the first battle between Edward H. Harriman of the Illinois Central and the famous banker, J. P. Morgan with Harriman the winner. (6)

	~~Work on~~ the ~~Cedar Falls to Waverly section was begun in April 1864 and completed on December 1, 1864. The first train left Waverly for~~ Dubuque ~~on March 13, 1865.~~ (6) ~~Charles~~ City was ~~reached on October 18, 1868~~ and ~~the Minnesota state line at Mona on May 1, 1870~~. ~~(7)~~		The 1868 ''Guide, Gazetteer and Directory of the Dubuque & Soux (sic) City Railroad'' stated that the office of this business was located at the corner of Locust and 5th.

	In 1864 the directors of the Dubuque company agreed to lease the Cedar Falls Railroad from station to station as the track was completed. After negotiations, the Dubuque company agreed to a 40 year lease from January 1, 1867. There was a fixed rental of $1,500 per mile in equal monthly installments. There was also a further rent every six months of 35% of the gross earnings over $3,500 and less than $7,000 and 30% when $7,000 was exceeded. (8)

	On September 13, 1867, the Dubuque Company leased its own railroad and lines associated with it to the Illinois Central at an annual rental of 35% of its gross earnings for the first ten years and 36% for the last ten years of the agreement. The Illinois Central could also keep the lines in perpetuity with the annual rental of 36%. If the Illinois Central did not declare its decision to surrender the property after twenty years it was then declared to have accepted the property and was required to pay the 36%. (9)

	~~The Illinois Central Railroad did surrender both lines in 1887. A lengthy lawsuit resulted: Jesup v. Illinois Central Railroad Company.~~

	---		---
Line 25:		Line 20:
	3. "New Railways in Iowa," ''The New York Times'', March 4, 1861, Online: http://www.nytimes.com/1861/03/04/news/new-railways-in-iowa.html		3. "New Railways in Iowa," ''The New York Times'', March 4, 1861, Online: http://www.nytimes.com/1861/03/04/news/new-railways-in-iowa.html

	4. ~~Desty et~~. al. p. ~~486~~		4. Stover, John F. '''History of the Illinois Central Railroad, ''' New York: Macmillan Publishing Company, Inc., 1975, p. 131

	5. ~~Ibid~~.		5. Donovan, Frank P. Jr. '''Iowa Railroads''' Iowa City: University of Iowa Press, 2000, p. 211

	6.		6. Donovan, p. 114

	~~7. Donovan, Frank P. Jr. '''Iowa Railroads''' Iowa City: University of Iowa Press, 2000, p. 211~~

	8.

	9.





	~~The 1868 ''Guide, Gazetteer and Directory of the Dubuque & Soux (sic) City Railroad'' stated that the office of this business was located at the corner of Locust and 5th.~~

	[[Category: Railroad]]		[[Category: Railroad]]

Randylyon at 00:50, 25 October 2014

2014-10-25T00:50:46Z

← Older revision		Revision as of 00:50, 25 October 2014
Line 7:		Line 7:
	Seeing the great importance of this road, and the increased amount of traffic that must result from it, the [[ILLINOIS CENTRAL RAILROAD]], Galena and Chicago Union, and the Dubuque and Sioux City roads created a sinking fund for the cancellation of these bonds, by paying to the trustees of the Company bonds referred to, (for five years,) 15% of all the gross earnings from business passing to and from all points upon the Cedar Falls and Minnesota Railroad over the roads of the above-named companies. This gave these bonds an increased value. (5)		Seeing the great importance of this road, and the increased amount of traffic that must result from it, the [[ILLINOIS CENTRAL RAILROAD]], Galena and Chicago Union, and the Dubuque and Sioux City roads created a sinking fund for the cancellation of these bonds, by paying to the trustees of the Company bonds referred to, (for five years,) 15% of all the gross earnings from business passing to and from all points upon the Cedar Falls and Minnesota Railroad over the roads of the above-named companies. This gave these bonds an increased value. (5)

	Work on the Cedar Falls to Waverly section was begun in April 1864 and completed on December 1, 1864. The first train left Waverly for Dubuque on March 13, 1865. (6)		Work on the Cedar Falls to Waverly section was begun in April 1864 and completed on December 1, 1864. The first train left Waverly for Dubuque on March 13, 1865. (6) Charles City was reached on October 18, 1868 and the Minnesota state line at Mona on May 1, 1870. (7)

	In 1864 the directors of the Dubuque company agreed to lease the Cedar Falls Railroad from station to station as the track was completed. After negotiations, the Dubuque company agreed to a 40 year lease from January 1, 1867. There was a fixed rental of $1,500 per mile in equal monthly installments. There was also a further rent every six months of 35% of the gross earnings over $3,500 and less than $7,000 and 30% when $7,000 was exceeded. (7)		In 1864 the directors of the Dubuque company agreed to lease the Cedar Falls Railroad from station to station as the track was completed. After negotiations, the Dubuque company agreed to a 40 year lease from January 1, 1867. There was a fixed rental of $1,500 per mile in equal monthly installments. There was also a further rent every six months of 35% of the gross earnings over $3,500 and less than $7,000 and 30% when $7,000 was exceeded. (8)

	On September 13, 1867, the Dubuque Company leased its own railroad and lines associated with it to the Illinois Central at an annual rental of 35% of its gross earnings for the first ten years and 36% for the last ten years of the agreement. The Illinois Central could also keep the lines in perpetuity with the annual rental of 36%. If the Illinois Central did not declare its decision to surrender the property after twenty years it was then declared to have accepted the property and was required to pay the 36%. (8)		On September 13, 1867, the Dubuque Company leased its own railroad and lines associated with it to the Illinois Central at an annual rental of 35% of its gross earnings for the first ten years and 36% for the last ten years of the agreement. The Illinois Central could also keep the lines in perpetuity with the annual rental of 36%. If the Illinois Central did not declare its decision to surrender the property after twenty years it was then declared to have accepted the property and was required to pay the 36%. (9)

	The Illinois Central Railroad did surrender both lines in 1887. A lengthy lawsuit resulted: Jesup v. Illinois Central Railroad Company.		The Illinois Central Railroad did surrender both lines in 1887. A lengthy lawsuit resulted: Jesup v. Illinois Central Railroad Company.
Line 21:		Line 21:
	1. "Iowa and the Illinois Central," '''Illinois Central Magazine''', November 1927, p. 5		1. "Iowa and the Illinois Central," '''Illinois Central Magazine''', November 1927, p. 5

	1. Desty, Robert; Goodwin, James Wells Goodwin; Boyle, Peyton. '''The Federal Reporter'''. West Publishing Company, 1891, p. 485		2. Desty, Robert; Goodwin, James Wells Goodwin; Boyle, Peyton. '''The Federal Reporter'''. West Publishing Company, 1891, p. 485

	2. "New Railways in Iowa," ''The New York Times'', March 4, 1861, Online: http://www.nytimes.com/1861/03/04/news/new-railways-in-iowa.html		3. "New Railways in Iowa," ''The New York Times'', March 4, 1861, Online: http://www.nytimes.com/1861/03/04/news/new-railways-in-iowa.html

			4. Desty et. al. p. 486

			5. Ibid.

			6.

			7. Donovan, Frank P. Jr. '''Iowa Railroads''' Iowa City: University of Iowa Press, 2000, p. 211

			8.

			9.

	~~3. Desty et. al. p. 486~~

	~~4. Ibid.~~

Randylyon at 01:16, 23 October 2014

2014-10-23T01:16:03Z

← Older revision		Revision as of 01:16, 23 October 2014
Line 5:		Line 5:
	The Company paid the contractors in the following manner: $600,000 of their first mortgage 7% Bonds; $40,000 Mitchell County 10% Bonds; $60,000 Floyd County 10% Bonds; $50,000 in lands, deeded along the line of road; $100,000 in cash, and $175,000 in stock and subscriptions to stock -- in all $1,025,000. The Company was to issue $650,000 of first mortgage 7% bonds, $50,000 of which was for their own account. This created a bonded debt of about $8,500 per mile. (4)		The Company paid the contractors in the following manner: $600,000 of their first mortgage 7% Bonds; $40,000 Mitchell County 10% Bonds; $60,000 Floyd County 10% Bonds; $50,000 in lands, deeded along the line of road; $100,000 in cash, and $175,000 in stock and subscriptions to stock -- in all $1,025,000. The Company was to issue $650,000 of first mortgage 7% bonds, $50,000 of which was for their own account. This created a bonded debt of about $8,500 per mile. (4)

	Seeing the great importance of this road, and the increased amount of traffic that must result from it, the ~~Illinois Central~~, Galena and Chicago Union, and the Dubuque and Sioux City roads created a sinking fund for the cancellation of these bonds, by paying to the trustees of the Company bonds referred to, (for five years,) 15% of all the gross earnings from business passing to and from all points upon the Cedar Falls and Minnesota Railroad over the roads of the above-named companies. This gave these bonds an increased value. (5)		Seeing the great importance of this road, and the increased amount of traffic that must result from it, the [[ILLINOIS CENTRAL RAILROAD]], Galena and Chicago Union, and the Dubuque and Sioux City roads created a sinking fund for the cancellation of these bonds, by paying to the trustees of the Company bonds referred to, (for five years,) 15% of all the gross earnings from business passing to and from all points upon the Cedar Falls and Minnesota Railroad over the roads of the above-named companies. This gave these bonds an increased value. (5)

	Work on the Cedar Falls to Waverly section was begun in April 1864 and completed on December 1, 1864. The first train left Waverly for Dubuque on March 13, 1865. (6)		Work on the Cedar Falls to Waverly section was begun in April 1864 and completed on December 1, 1864. The first train left Waverly for Dubuque on March 13, 1865. (6)
Line 13:		Line 13:
	On September 13, 1867, the Dubuque Company leased its own railroad and lines associated with it to the Illinois Central at an annual rental of 35% of its gross earnings for the first ten years and 36% for the last ten years of the agreement. The Illinois Central could also keep the lines in perpetuity with the annual rental of 36%. If the Illinois Central did not declare its decision to surrender the property after twenty years it was then declared to have accepted the property and was required to pay the 36%. (8)		On September 13, 1867, the Dubuque Company leased its own railroad and lines associated with it to the Illinois Central at an annual rental of 35% of its gross earnings for the first ten years and 36% for the last ten years of the agreement. The Illinois Central could also keep the lines in perpetuity with the annual rental of 36%. If the Illinois Central did not declare its decision to surrender the property after twenty years it was then declared to have accepted the property and was required to pay the 36%. (8)

	The Illinois Central did surrender both lines in 1887. A lengthy lawsuit resulted: Jesup v. Illinois Central Railroad Company.		The Illinois Central Railroad did surrender both lines in 1887. A lengthy lawsuit resulted: Jesup v. Illinois Central Railroad Company.

	---		---

Randylyon at 23:00, 17 October 2014

2014-10-17T23:00:27Z

← Older revision		Revision as of 23:00, 17 October 2014
Line 1:		Line 1:
	[[File:cfmm.gif\|300px\|thumb\|left\|]]CEDAR FALLS AND MINNESOTA RAILROAD. The Cedar Falls and Minnesota Railroad was incorporated in 1858 under the laws of Iowa. Its purpose was to construct a railroad from a point on the [[DUBUQUE AND SIOUX CITY RAILROAD]] through Waverly and Charles City to the Minnesota border. (1) In 1861 the [[DUBUQUE AND SIOUX CITY RAILROAD]], connecting with the [[ILLINOIS CENTRAL RAILROAD]] and Galena and Chicago Union Roads, was nearing completion to Cedar Falls, Iowa. At this point the Cedar Falls and Minnesota Railroad, from Cedar Falls to the State line of Minnesota, was under contract to Erastus Edgerton and Company of New-York, for the sum of $1,025,000. This road was seventy-five miles long to end at Otranto, at the State line of Minnesota. There it connected with the "Cedar Valley and Minneapolis" Road, (108 miles,) extending to St. Paul. The grading on the Cedar Falls and Minnesota Road has been completed to Waverly, a distance of fifteen miles, and a bridge, spanning the Cedar River was nearly finished. The ground was so level that not a cut or filling of more than ten feet was required.		[[File:cfmm.gif\|300px\|thumb\|left\|]]CEDAR FALLS AND MINNESOTA RAILROAD. The Cedar Falls and Minnesota Railroad was incorporated in on April 16, 1858 under the laws of Iowa and was controlled by [[SMITH, Platt\|Platt SMITH]] and Colonel R. B. Mason of the Illinois Central. (1) Its purpose was to construct a railroad from a point on the [[DUBUQUE AND SIOUX CITY RAILROAD]] through Waverly and Charles City to the Minnesota border. (2)

	The ~~Company paid the contractors in the following manner: $600~~,~~000 of their first mortgage 7% Bonds; $40,000 Mitchell County 10% Bonds; $60,000 Floyd County 10% Bonds; $50,000 in lands, deeded along~~ the line of ~~road; $100,000 in cash~~, and ~~$175~~,~~000 in stock and subscriptions to stock -- in all~~ $1,025,000. ~~The Company~~ was to ~~issue $650~~,~~000 of first mortgage 7% bonds~~, ~~$50~~,~~000 of which~~ was ~~for their own account. This created~~ a ~~bonded debt~~ of ~~about $8,500 per mile~~.		The Cedar Falls and Minnesota Railroad, from Cedar Falls to the State line of Minnesota, was under contract to Erastus Edgerton and Company of New-York, for the sum of $1,025,000. This road was to end at Otranto, at the Minnesota state line. There it was connected with the "Cedar Valley and Minneapolis" Road, (108 miles,) extending to St. Paul. The ground was so level that not a cut or filling of more than ten feet was required. (3)

	~~Seeing~~ the ~~great importance~~ of ~~this road~~, ~~and~~ the ~~increased amount~~ of ~~traffic that must result from it~~, ~~the Illinois Central~~, ~~Galena~~ and ~~Chicago Union~~, and ~~the Dubuque and Sioux City roads created a sinking fund for the cancellation of these bonds~~, ~~by paying~~ to ~~the trustees~~ of ~~the Company~~ bonds ~~referred to~~, ~~(for five years~~,~~) 15%~~ of ~~all the gross earnings from business passing to and from all points upon the Cedar Falls and Minnesota Railroad over the roads of the above-named companies~~. This ~~gave these bonds an increased value~~.		The Company paid the contractors in the following manner: $600,000 of their first mortgage 7% Bonds; $40,000 Mitchell County 10% Bonds; $60,000 Floyd County 10% Bonds; $50,000 in lands, deeded along the line of road; $100,000 in cash, and $175,000 in stock and subscriptions to stock -- in all $1,025,000. The Company was to issue $650,000 of first mortgage 7% bonds, $50,000 of which was for their own account. This created a bonded debt of about $8,500 per mile. (4)

	~~In 1861~~ the ~~Cedar Valley~~ and ~~Minneapolis Road was graded sixty-five miles. It had passed into~~ the ~~hands~~ of the ~~State~~ of ~~Minnesota~~, ~~and~~ the ~~work had been suspended~~ for ~~some time. Strong incentives were offered~~ to ~~any responsible parties who would resume~~ and ~~finish~~ the ~~work~~. (2)		Seeing the great importance of this road, and the increased amount of traffic that must result from it, the Illinois Central, Galena and Chicago Union, and the Dubuque and Sioux City roads created a sinking fund for the cancellation of these bonds, by paying to the trustees of the Company bonds referred to, (for five years,) 15% of all the gross earnings from business passing to and from all points upon the Cedar Falls and Minnesota Railroad over the roads of the above-named companies. This gave these bonds an increased value. (5)

	~~In 1864 the directors of the Dubuque company agreed to lease~~ the Cedar Falls ~~Railroad from station~~ to ~~station as the track~~ was completed~~. After negotiations, the Dubuque company agreed to a 40 year lease from January~~ 1, ~~1867~~. ~~There was a fixed rental of $1,500 per mile in equal monthly installments. There was also a further rent every six months of 35% of the gross earnings over $3,500 and less than $7~~,~~000 and 30% when $7,000 was exceeded~~. (3)		Work on the Cedar Falls to Waverly section was begun in April 1864 and completed on December 1, 1864. The first train left Waverly for Dubuque on March 13, 1865. (6)

	On September 13, 1867, the Dubuque Company leased its own railroad and lines associated with it to the Illinois Central at an annual rental of 35% of its gross earnings for the first ten years and 36% for the last ten years of the agreement. The Illinois Central could also keep the lines in perpetuity with the annual rental of 36%. If the Illinois Central did not declare its decision to surrender the property after twenty years it was then declared to have accepted the property and was required to pay the 36%. (4)		In 1864 the directors of the Dubuque company agreed to lease the Cedar Falls Railroad from station to station as the track was completed. After negotiations, the Dubuque company agreed to a 40 year lease from January 1, 1867. There was a fixed rental of $1,500 per mile in equal monthly installments. There was also a further rent every six months of 35% of the gross earnings over $3,500 and less than $7,000 and 30% when $7,000 was exceeded. (7)

			On September 13, 1867, the Dubuque Company leased its own railroad and lines associated with it to the Illinois Central at an annual rental of 35% of its gross earnings for the first ten years and 36% for the last ten years of the agreement. The Illinois Central could also keep the lines in perpetuity with the annual rental of 36%. If the Illinois Central did not declare its decision to surrender the property after twenty years it was then declared to have accepted the property and was required to pay the 36%. (8)

	The Illinois Central did surrender both lines in 1887. A lengthy lawsuit resulted: Jesup v. Illinois Central Railroad Company.		The Illinois Central did surrender both lines in 1887. A lengthy lawsuit resulted: Jesup v. Illinois Central Railroad Company.
Line 16:		Line 18:

	Source:		Source:

			1. "Iowa and the Illinois Central," '''Illinois Central Magazine''', November 1927, p. 5

	1. Desty, Robert; Goodwin, James Wells Goodwin; Boyle, Peyton. '''The Federal Reporter'''. West Publishing Company, 1891, p. 485		1. Desty, Robert; Goodwin, James Wells Goodwin; Boyle, Peyton. '''The Federal Reporter'''. West Publishing Company, 1891, p. 485

Randylyon at 20:31, 16 October 2014

2014-10-16T20:31:09Z

← Older revision		Revision as of 20:31, 16 October 2014
Line 1:		Line 1:
	[[File:cfmm.gif\|300px\|thumb\|left\|]]CEDAR FALLS AND MINNESOTA RAILROAD. In 1861 the [[DUBUQUE AND SIOUX CITY RAILROAD]], connecting with the [[ILLINOIS CENTRAL RAILROAD]] and Galena and Chicago Union Roads, was nearing completion to Cedar Falls, Iowa. At this point the Cedar Falls and Minnesota Railroad, from Cedar Falls to the State line of Minnesota, was under contract to Erastus Edgerton and Company of New-York, for the sum of $1,025,000. This road was seventy-five miles long to end at Otranto, at the State line of Minnesota. There it connected with the "Cedar Valley and Minneapolis" Road, (108 miles,) extending to St. Paul. The grading on the Cedar Falls and Minnesota Road has been completed to Waverly, a distance of fifteen miles, and a bridge, spanning the Cedar River was nearly finished. The ground was so level that not a cut or filling of more than ten feet was required.		[[File:cfmm.gif\|300px\|thumb\|left\|]]CEDAR FALLS AND MINNESOTA RAILROAD. The Cedar Falls and Minnesota Railroad was incorporated in 1858 under the laws of Iowa. Its purpose was to construct a railroad from a point on the [[DUBUQUE AND SIOUX CITY RAILROAD]] through Waverly and Charles City to the Minnesota border. (1) In 1861 the [[DUBUQUE AND SIOUX CITY RAILROAD]], connecting with the [[ILLINOIS CENTRAL RAILROAD]] and Galena and Chicago Union Roads, was nearing completion to Cedar Falls, Iowa. At this point the Cedar Falls and Minnesota Railroad, from Cedar Falls to the State line of Minnesota, was under contract to Erastus Edgerton and Company of New-York, for the sum of $1,025,000. This road was seventy-five miles long to end at Otranto, at the State line of Minnesota. There it connected with the "Cedar Valley and Minneapolis" Road, (108 miles,) extending to St. Paul. The grading on the Cedar Falls and Minnesota Road has been completed to Waverly, a distance of fifteen miles, and a bridge, spanning the Cedar River was nearly finished. The ground was so level that not a cut or filling of more than ten feet was required.

	The Company paid the contractors in the following manner: $600,000 of their first mortgage 7% Bonds; $40,000 Mitchell County 10% Bonds; $60,000 Floyd County 10% Bonds; $50,000 in lands, deeded along the line of road; $100,000 in cash, and $175,000 in stock and subscriptions to stock -- in all $1,025,000. The Company was to issue $650,000 of first mortgage 7% bonds, $50,000 of which was for their own account. This created a bonded debt of about $8,500 per mile.		The Company paid the contractors in the following manner: $600,000 of their first mortgage 7% Bonds; $40,000 Mitchell County 10% Bonds; $60,000 Floyd County 10% Bonds; $50,000 in lands, deeded along the line of road; $100,000 in cash, and $175,000 in stock and subscriptions to stock -- in all $1,025,000. The Company was to issue $650,000 of first mortgage 7% bonds, $50,000 of which was for their own account. This created a bonded debt of about $8,500 per mile.
Line 5:		Line 5:
	Seeing the great importance of this road, and the increased amount of traffic that must result from it, the Illinois Central, Galena and Chicago Union, and the Dubuque and Sioux City roads created a sinking fund for the cancellation of these bonds, by paying to the trustees of the Company bonds referred to, (for five years,) 15% of all the gross earnings from business passing to and from all points upon the Cedar Falls and Minnesota Railroad over the roads of the above-named companies. This gave these bonds an increased value.		Seeing the great importance of this road, and the increased amount of traffic that must result from it, the Illinois Central, Galena and Chicago Union, and the Dubuque and Sioux City roads created a sinking fund for the cancellation of these bonds, by paying to the trustees of the Company bonds referred to, (for five years,) 15% of all the gross earnings from business passing to and from all points upon the Cedar Falls and Minnesota Railroad over the roads of the above-named companies. This gave these bonds an increased value.

	In 1861 the Cedar Valley and Minneapolis Road was graded sixty-five miles. It had passed into the hands of the State of Minnesota, and the work had been suspended for some time. Strong incentives were offered to any responsible parties who ~~woud~~ resume and finish the work. (1)		In 1861 the Cedar Valley and Minneapolis Road was graded sixty-five miles. It had passed into the hands of the State of Minnesota, and the work had been suspended for some time. Strong incentives were offered to any responsible parties who would resume and finish the work. (2)

			In 1864 the directors of the Dubuque company agreed to lease the Cedar Falls Railroad from station to station as the track was completed. After negotiations, the Dubuque company agreed to a 40 year lease from January 1, 1867. There was a fixed rental of $1,500 per mile in equal monthly installments. There was also a further rent every six months of 35% of the gross earnings over $3,500 and less than $7,000 and 30% when $7,000 was exceeded. (3)

			On September 13, 1867, the Dubuque Company leased its own railroad and lines associated with it to the Illinois Central at an annual rental of 35% of its gross earnings for the first ten years and 36% for the last ten years of the agreement. The Illinois Central could also keep the lines in perpetuity with the annual rental of 36%. If the Illinois Central did not declare its decision to surrender the property after twenty years it was then declared to have accepted the property and was required to pay the 36%. (4)

			The Illinois Central did surrender both lines in 1887. A lengthy lawsuit resulted: Jesup v. Illinois Central Railroad Company.

	---		---
Line 11:		Line 17:
	Source:		Source:

	1. "New Railways in Iowa," ''The New York Times'', March 4, 1861, Online: http://www.nytimes.com/1861/03/04/news/new-railways-in-iowa.html		1. Desty, Robert; Goodwin, James Wells Goodwin; Boyle, Peyton. '''The Federal Reporter'''. West Publishing Company, 1891, p. 485

			2. "New Railways in Iowa," ''The New York Times'', March 4, 1861, Online: http://www.nytimes.com/1861/03/04/news/new-railways-in-iowa.html

			3. Desty et. al. p. 486

			4. Ibid.

Randylyon at 19:30, 16 October 2014

2014-10-16T19:30:04Z

← Older revision		Revision as of 19:30, 16 October 2014
Line 1:		Line 1:
	[[File:cfmm.gif\|300px\|thumb\|left\|]]CEDAR FALLS AND MINNESOTA RAILROAD. The 1868 ''Guide, Gazetteer and Directory of the Dubuque & Soux (sic) City Railroad'' stated that the office of this business was located at the corner of Locust and 5th.		[[File:cfmm.gif\|300px\|thumb\|left\|]]CEDAR FALLS AND MINNESOTA RAILROAD. In 1861 the [[DUBUQUE AND SIOUX CITY RAILROAD]], connecting with the [[ILLINOIS CENTRAL RAILROAD]] and Galena and Chicago Union Roads, was nearing completion to Cedar Falls, Iowa. At this point the Cedar Falls and Minnesota Railroad, from Cedar Falls to the State line of Minnesota, was under contract to Erastus Edgerton and Company of New-York, for the sum of $1,025,000. This road was seventy-five miles long to end at Otranto, at the State line of Minnesota. There it connected with the "Cedar Valley and Minneapolis" Road, (108 miles,) extending to St. Paul. The grading on the Cedar Falls and Minnesota Road has been completed to Waverly, a distance of fifteen miles, and a bridge, spanning the Cedar River was nearly finished. The ground was so level that not a cut or filling of more than ten feet was required.

			The Company paid the contractors in the following manner: $600,000 of their first mortgage 7% Bonds; $40,000 Mitchell County 10% Bonds; $60,000 Floyd County 10% Bonds; $50,000 in lands, deeded along the line of road; $100,000 in cash, and $175,000 in stock and subscriptions to stock -- in all $1,025,000. The Company was to issue $650,000 of first mortgage 7% bonds, $50,000 of which was for their own account. This created a bonded debt of about $8,500 per mile.

			Seeing the great importance of this road, and the increased amount of traffic that must result from it, the Illinois Central, Galena and Chicago Union, and the Dubuque and Sioux City roads created a sinking fund for the cancellation of these bonds, by paying to the trustees of the Company bonds referred to, (for five years,) 15% of all the gross earnings from business passing to and from all points upon the Cedar Falls and Minnesota Railroad over the roads of the above-named companies. This gave these bonds an increased value.

			In 1861 the Cedar Valley and Minneapolis Road was graded sixty-five miles. It had passed into the hands of the State of Minnesota, and the work had been suspended for some time. Strong incentives were offered to any responsible parties who woud resume and finish the work. (1)

			---

			Source:

			1. "New Railways in Iowa," ''The New York Times'', March 4, 1861, Online: http://www.nytimes.com/1861/03/04/news/new-railways-in-iowa.html



			The 1868 ''Guide, Gazetteer and Directory of the Dubuque & Soux (sic) City Railroad'' stated that the office of this business was located at the corner of Locust and 5th.

	[[Category: Railroad]]		[[Category: Railroad]]

Randylyon at 18:44, 9 April 2013

2013-04-09T18:44:12Z

← Older revision		Revision as of 18:44, 9 April 2013
Line 1:		Line 1:
	CEDAR FALLS AND MINNESOTA RAILROAD. The 1868 ''Guide, Gazetteer and Directory of the Dubuque & Soux (sic) City Railroad'' stated that the office of this business was located at the corner of Locust and 5th.		[[File:cfmm.gif\|300px\|thumb\|left\|]]CEDAR FALLS AND MINNESOTA RAILROAD. The 1868 ''Guide, Gazetteer and Directory of the Dubuque & Soux (sic) City Railroad'' stated that the office of this business was located at the corner of Locust and 5th.

	[[Category: Railroad]]		[[Category: Railroad]]

Randylyon at 22:04, 10 April 2011

2011-04-10T22:04:06Z

← Older revision		Revision as of 22:04, 10 April 2011
Line 1:		Line 1:
	CEDAR FALLS AND MINNESOTA RAILROAD. The 1868 ''Guide, Gazetteer and Directory of the Dubuque & Soux (sic) City Railroad'' stated that the office of this business was located at the corner of Locust and 5th.		CEDAR FALLS AND MINNESOTA RAILROAD. The 1868 ''Guide, Gazetteer and Directory of the Dubuque & Soux (sic) City Railroad'' stated that the office of this business was located at the corner of Locust and 5th.

	[[Category: ~~Railroads~~]]		[[Category: Railroad]]