Wikipedia:WikiProject Trains/ICC valuations/Modesto and Empire Traction Company

The railroad operated by the Modesto and Empire Traction Company, hereinafter called the carrier, is a single-track, standard-gage, steam railroad, located in the State of California. The main line extends easterly from Modesto to Empire, a distance of 5.226 miles. The owned road consists of 1.895 miles of yard tracks and sidings at Modesto. The remaining mileage consisting of 5.226 miles of main track and 1.262 miles of yard tracks and sidings is owned by the Modesto Interurban Railway, hereinafter called the Modesto Interurban, whose entire common-carrier property the carrier leases and operates. The carrier also leases certain buildings at Modesto, and equipment, from the Modesto Terminal Company and a steam locomotive from the Beard Land and Investment Company. The carrier has joint use of certain tracks at Modesto owned by the Tidewater Southern Railway Company. The carrier uses 8.383 miles of all tracks. These tracks consisting of first-main track and yard tracks and sidings are further classified in the trackage table in appendix 1.

CORPORATE HISTORY

The carrier was incorporated October 7, 1911, under the general laws of the State of California to acquire or lease and operate a standard-gage, steam or electric railroad, commencing in Modesto, and running thence through streets and alleys, to or near Empire, Calif., and to acquire farm property, packing houses, canneries, and warehouses for handling agricultural products. The date of organization was October 24, 1911.

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

Of the owned line of the carrier, consisting of 1.895 miles of yard tracks and sidings, 1.844 miles were acquired by construction, 0.750 mile in 1915-16 and 1.094 miles in 1926-27 and 0.548 miles was acquired by purchase from the Modesto Terminal Company, 0.261 mile in 1922 and 0.287 mile in 1925. In 1918, 0.750 mile was sold to the Modesto Interurban Railway and in 1927, 0.043 mile was retired leaving net recorded mileage of 1.599 as compared with 1.895 miles inventoried as of date of valuation or a difference of 0.296 mile. The construction work was performed in part by contractors and in part by company forces.

Syndicating, banking, and other financial arrangements.—

CORPORATE HISTORY

The Modesto Interurban was incorporated March 23, 1909, under the general laws of California, to construct or otherwise acquire and operate a railroad commencing in Modesto, and running thence through streets and alleys, through Empire, to Oakdale and Waterford, and to New Market and Crow's Landing, Calif. The date of organization was April 6, 1909.

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The owned line, consisting of 5.226 miles of single-track main line and 1.262 miles of yard tracks and sidings, was acquired as follows: By construction: Single-track main line, 1909-11, 5.200 miles; yard tracks and sidings, 1909-11, 0.606 mile; and 1925, 1.241 miles. By purchase: From the Modesto and Empire Traction Company, yard tracks and sidings constructed by that company in 1915-16, 0.750 mile; less 0.407 mile of yard tracks and sidings retired; total for all tracks acquired 7.390 miles; total for all tracks inventoried, 6.488 miles; resulting in a difference of 0.902 mile.

HISTORY OF CORPORATE FINANCING