Wikipedia:WikiProject Trains/ICC valuations/Butte, Anaconda and Pacific Railway

http://books.google.com/books?id=AM5DAAAAIAAJ

The railroad of the Butte, Anaconda & Pacific Railway Company, herein called the carrier, is a single-track, standard-gauge railroad, located in southwestern Montana. The major portion of the railroad is electrically operated. The main line extends northwesterly from Butte to Southern Cross, 46.870 miles. The carrier also owns 102.988 miles of yard tracks and sidings. In addition, the carrier operates, under lease, 8.938 miles of road and 4.977 miles of yard tracks and sidings, comprising a branch line between Stuart and Anaconda, Mont., owned by the Northern Pacific Railway Company. It also leases and operates 0.949 mile of yard tracks and sidings at Butte Hill, Mont., owned by the Chicago, Milwaukee and St. Paul Railway Company. Its road thus embraces 149.858 miles of all tracks owned and used, and 14.864 miles of all tracks used but not owned. These tracks are classified in the trackage table in Appendix 1.

The carrier is controlled by the Anaconda Copper Mining Company through ownership of 51 per cent of the outstanding capital stock. The rest of the stock is held by the Chicago, Milwaukee and St. Paul. Its railroad serves principally the copper mines and smelters of the Anaconda Copper Mining Company.

The property of the carrier has been operated by its own organization from January 1, 1894, the date the first section was placed in operation, to the date of valuation. From July 1, 1914, to date of valuation the major portion of the railroad of this company has been electrically operated.

CORPORATE HISTORY

The carrier was incorporated September 30, 1892, under the general laws of the State of Montana, for the purpose of constructing and operating a railroad from Butte to Anaconda, Mont., about 25 miles, with such branches and spurs as may be deemed necessary or proper. The date of organization was October 1, 1892.

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The road owned by the carrier, amounting to 46.87 miles, was all acquired by construction. The years when the various portions of the line were constructed are indicated in the following statement:

Butte to Anaconda, Mont., October, 1892, to Dec. 31, 1893 25.30

Anaconda to Browns, Mont., October, 1892, to January, 1899 6.20

Browns to Southern Cross, Mont., July, 1911, to Apr. 1, 1913 15.28

Total recorded mileage 46.78

Difference between total recorded mileage and mileage inventoried as of date of valuation .09

Mileage inventoried as of date of valuation 46.87

The main line, extending from Butte to Anaconda, Mont., together with the greater portion of the grading of the line from Anaconda to Browns, Mont., was constructed under contract by the Great Northern Railway Company. On the line from Browns to Southern Cross, Mont., the grading was done under contract by Clifton, Applegate & Company. The remaining portion of the railroad was constructed by forces of the carrier.

HISTORY OF CORPORATE FINANCING