The Peru & Indianapolis was incorporated January 19, 1846, to connect Indianapolis with the Wabash and Erie Canal at Peru. Construction began at Indianapolis in 1849 and service began over 21.42 miles of line to Noblesville on March 12, 1851. At the request of the Noblesville merchants, the railroad was built in 8th street to reduce the drayage cost for local freight. As the railroad built north it stimulated the location of new towns like Buena Vista, renamed Atlanta in 1881. The Peru & Indianapolis opened to Tipton in 1852, to Kokomo in 1853, and to Peru, 73 miles from Indianapolis, in early 1854. (ITM)
This was the oldest segment of what would become the Nickel Plate System. "In 1864 the P & I was reorganized as the Indianapolis, Peru & Chicago. In 1871 the IP & C took over the 88 mile Chicago, Cincinnati & Louisville, a recently consolidated chain of roads between Peru and Michigan City. The resulting 161 mile line between Indianapolis and Michigan City would be operated as a single operating division for the next 90 years, under a succession of owners." (ITM)