Landon
Thanks for this information which helps confirm the date of the change.
The CRI&P AGM was apparently held on 4 June 1902, at which the decision to consolidate the BCR&N into the Rock Island
was made. The CRI&P Annual Report for the following year shows that $3,208,000 was paid for the purchase of the capital stock of the BCR&N, which was presumably from the CB&Q. There is no equivalent receipt in the CB&Q 1903-1904 Report accounts.
The only reference in the CB&Q Report for 1879 (the year that the CB&Q and CRI&P purchased the BCR&N) shows $13,500 as suspended debt for BCR&N bonds. There is no equivalent item in the CRI&P Report, and only a brief mention in Railroad Gazette to the lease
by the Rock Island.
It is interesting that neither company referred specifically to the purchase of the BCR&N, nor heralded the change of ownership in 1902.
Rupert Gamlen
Auckland NZ
From: CBQ@groups.io <CBQ@groups.io>
On Behalf Of Landon Rowell
Sent: Monday, April 3, 2023 2:43 PM
To: CBQ@groups.io
Subject: Re: [CBQ] BCR&N
CB&Q (and CB&Q affiliated individuals, including Charles E Perkins) held substantial stock in the BCR&N until 1902, according to "The Iowa Route A History of the Burlington
Cedar Rapids and Northern Railway" by Don L Hoffsomer.
It took me a while to find it because it wasn't in the index and I thought it would have been earlier.
I HIGHLY recommend this book to anyone interested in BCR&N history.
Leo
Nothing in Baldwin’s ICC corporate history, nothing in the three volume Documentary History. I’ve tried the likes of Railway Age, Railroad Gazette, Railway Review, etc., plus the R&LHS and the Iowa Railway Commissioners. I thought that the Annual reports would
include the sale and receipt of money but I can’t see anything about it.
The CRI&P AGM in 1902 voted to consolidate the BCR&N into the Rock Island, and it was renamed the Northern Division in June 1902.
Hopefully Landon may be able to throw some light on it. If not, I’ll try the Rock Island e-mail group.
Rupert Gamlen
Auckland NZ
Is there anything in the corporate histories ? I’m thinking you probably already checked but just in case you hadn’t thought of it…….
I have a book on the history of the BCR&N. I will look later to see if I can find the information.
Ken
I found a note to that effect in Railway Age and presumed that the Rock Island had bought out the Burlington by that time, in order for the lease to be signed. I was hoping to establish a date when the sale actually took place.
I’ve had a quick check of the Annual Directors‘ Reports but can find no mention of it. Even Richard Overton’s Burlington Route merely says that they jointly bought the BCR&N out of receivership and “Early in the twentieth century, the CB&Q disposed of its interest
to the Rock Island at a handsome profit.”
Rupert Gamlen
Auckland NZ
"In 1885, the Rock Island purchased the majority of the outstanding stock of the Burlington, Cedar Rapids and Northern Railway. It later was to take over the line completely. "
"A historic development occurred near the close of this decade, when on June 1, 1902, the Burlington, Cedar Rapids and Northern leased its property to the Rock Island for 999 years."
Source: Rock Island Freight Agency Manual
Ken Vandevoort
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