Company History: The Cedar Rapids and Missouri River Railroad was a railroad chartered to run from Cedar Rapids, Iowa to Council Bluffs, Iowa on the Missouri River. It was the first railroad to reach Council Bluffs, Iowa, the eastern terminus of the First transcontinental railroad. The city of Ames, Iowa was created as a station stop on the line. It was one of four railroads that were built as result of the Iowa Land Bill of 1856 that gave land grants for railroads.
The railroad was organized on January 16, 1860, and composed largely of stockholders in the Chicago, Iowa and Nebraska Railroad Company, already in operation from Clinton to Cedar Rapids.
Union Pacific Railroad baron Thomas Clark Durant was to manipulate CR&M stock to add to his fortune. Durant controlled another of the Iowa land grant railroads, the Mississippi and Missouri Railroad (M&M) and ran up its stock by saying the transcontinental railroad would connect to it. At the same time, he was buying the depressed CR&M stock. Then Durant declared that CR&M would be the railroad of choice for the transcontinental connection. After buying back the newly depressed M&M stock, Durant and his cohorts made about $5 million.
The city of Ames was chartered in 1864 for the railroad and was named by CR&M President John Blair for Massachusetts Congressman Oakes Ames.
In July 1862, the Galena and Chicago Union Railroad leased the line in perpetuity. The Galena line was in turn consolidated with the Chicago and North Western Railway on June 2, 1864, and the line to Council Bluffs was completed in January 1867. The lease was formally turned into a sale in 1884.From Wikipedia
The railroad was organized on January 16, 1860, and composed largely of stockholders in the Chicago, Iowa and Nebraska Railroad Company, already in operation from Clinton to Cedar Rapids.
Union Pacific Railroad baron Thomas Clark Durant was to manipulate CR&M stock to add to his fortune. Durant controlled another of the Iowa land grant railroads, the Mississippi and Missouri Railroad (M&M) and ran up its stock by saying the transcontinental railroad would connect to it. At the same time, he was buying the depressed CR&M stock. Then Durant declared that CR&M would be the railroad of choice for the transcontinental connection. After buying back the newly depressed M&M stock, Durant and his cohorts made about $5 million.
The city of Ames was chartered in 1864 for the railroad and was named by CR&M President John Blair for Massachusetts Congressman Oakes Ames.
In July 1862, the Galena and Chicago Union Railroad leased the line in perpetuity. The Galena line was in turn consolidated with the Chicago and North Western Railway on June 2, 1864, and the line to Council Bluffs was completed in January 1867. The lease was formally turned into a sale in 1884.From Wikipedia
Successor/Parent History: The Chicago and North Western Transportation Company (reporting mark CNW) was a Class I railroad in the Midwestern United States. It was also known as the North Western. The railroad operated more than 5,000 miles (8,000 km) of track as of the turn of the 20th century, and over 12,000 miles (19,000 km) of track in seven states before retrenchment in the late 1970s.
Until 1972, when the company was sold to its employees, it was named the Chicago and North Western Railway. The C&NW became one of the longest railroads in the United States as a result of mergers with other railroads, such as the Chicago Great Western Railway, Minneapolis and St. Louis Railway and others.
By 1995, track sales and abandonment had reduced the total mileage back to about 5,000. The majority of the abandoned and sold lines were lightly trafficked branches in Iowa, Illinois, Minnesota, South Dakota and Wisconsin. Large line sales, such as those that resulted in the Dakota, Minnesota and Eastern Railroad further helped reduce the railroad to a mainline core with several regional feeders and branches.
The company was purchased by Union Pacific Railroad (UP) in April 1995 and ceased to exist.
Until 1972, when the company was sold to its employees, it was named the Chicago and North Western Railway. The C&NW became one of the longest railroads in the United States as a result of mergers with other railroads, such as the Chicago Great Western Railway, Minneapolis and St. Louis Railway and others.
By 1995, track sales and abandonment had reduced the total mileage back to about 5,000. The majority of the abandoned and sold lines were lightly trafficked branches in Iowa, Illinois, Minnesota, South Dakota and Wisconsin. Large line sales, such as those that resulted in the Dakota, Minnesota and Eastern Railroad further helped reduce the railroad to a mainline core with several regional feeders and branches.
The company was purchased by Union Pacific Railroad (UP) in April 1995 and ceased to exist.
Brief History: The U.S. is a country of 50 states covering a vast swath of North America, with Alaska in the northwest and Hawaii extending the nation’s presence into the Pacific Ocean. Major Atlantic Coast cities are New York, a global finance and culture center, and capital Washington, DC. Midwestern metropolis Chicago is known for influential architecture and on the west coast, Los Angeles' Hollywood is famed for filmmaking.
Item created by: CNW400 on 2023-06-17 17:18:35
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