Indiana, Illinois, and Iowa Railroad Co. - 1900 dated $1,000 Railway Gold BondBond

$1,000 4% Bond printed by Western Bank Note Company, Chicago.

The Indiana, Illinois, and Iowa Railroad Co., commonly known as “The Three I” or “II&I,” was a significant regional freight railroad that operated in the late 19th and early 20th centuries. Established in the 1870s, the company was officially formed on December 27, 1881, through the consolidation of separate state-chartered entities. The II&I established a line connecting Streator, Illinois, to South Bend, Indiana, with construction reaching North Judson in 1883 and the final segment completed in 1894. Although its name included Iowa, the railroad never actually laid track in that state but rather provided connections to other lines extending further west. The railroad was a Vanderbilt property, with its headquarters in New York and Cleveland. It connected various towns and served industries such as the Studebaker Corporation and Singer Manufacturing.

The II&I’s independent existence was relatively short-lived as it became part of a larger consolidation driven by the expansion of the New York Central (NYC) system. In 1906, the Indiana, Illinois, and Iowa Railroad merged with the Indiana Harbor Railroad to form the Chicago, Indiana, and Southern Railroad (CI&S). The CI&S became a wholly owned subsidiary within the NYC system, serving as a “tributary” line. Just a few years later, in 1914, the Chicago, Indiana, and Southern Railroad, along with several other railroads, was fully consolidated to form the modern New York Central Railroad. Consequently, the Indiana, Illinois, and Iowa name ceased to be a primary operating entity. Today, portions of its original Kankakee Belt Route remain in use as key parts of modern freight rail lines, connecting to nationwide rail gateways.