Cincinnati Southern Railway

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The Cincinnati Southern Railway (blue) is part of the Norfolk Southern Railway (red) route network

The Cincinnati Southern Railway is an American railroad company . The company is owned by the City of Cincinnati and administered by trustees. The railway line and other property is currently leased to Norfolk Southern .

With the completion of the Louisville and Nashville Railroad , Cincinnati was at a competitive disadvantage compared to the city ​​of Louisville, also located on the Ohio River . The city of Cincinnati therefore endeavored to build a railway line south from Cincinnati to Chattanooga . The company was finally incorporated on June 26, 1869 after some legal difficulties had been resolved. The city's citizens approved a sum of $ 16 million to build the line.

On July 21, 1877, the 257 kilometer route to Somerset (Kentucky) and on February 12, 1880 to Chattanooga with a total of 547 kilometers was completed. It also took over the route of the Cincinnati, Lexington and East Tennessee Railroad between Lexington and Nicolasville, which had been operated at times by the Kentucky Central Railroad.

The route was initially operated by the Cincinnati Railroad. On October 12, 1881, the line was leased to the Cincinnati, New Orleans and Texas Pacific Railway (CNO & TP) for 25 years . In 1906 the contract was extended to another 60 years and on November 8, 1927 to 99 years. CNO & TP is now part of the Norfolk Southern Group.

At the beginning of the 1980s there were differences in the amount of the rental fee. In a regulation effective January 1, 1987, the rent for 1987 was set at $ 11 million. For the following years, the rental fee was regulated on the basis of the development of the GDP deflator . In return, the lessee is given the option of a further 25 years of use until December 31, 2051.

In 2008, lease income of $ 17.25 million was planned for the city budget. In 2011, $ 19,709,868 was raised.

Web links

Individual evidence

  1. ↑ Supplementary Agreement, Jan 1, 1987 (1.2MB PDF)
  2. ^ Cincinnati to issue bonds for capital projects. ( Memento from March 5, 2008 in the Internet Archive )
  3. ^ Board of Trustees, Cincinnati Southern Railway: Financial Statements and Additional Financial Information Years Ended December 31, 2011 and 2010