Wikipedia:WikiProject Trains/ICC valuations/Northern Pacific Terminal Company of Oregon

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The property of The Northern Pacific Terminal Company of Oregon, hereinafter called the Northern Pacific Terminal, constitutes a passenger and freight terminal at Portland, Oreg., which it operates in the joint interest of the Oregon-Washington Railroad & Navigation Company, the Northern Pacific Railway Company, and the Oregon and California Railroad Company. These companies will hereafter be referred to collectively as the controlling companies.

The Northern Pacific Terminal wholly owns and uses 24.964 miles of tracks, wholly uses but does not own 3,307[sic] miles of tracks, and jointly owns and uses with other carriers 1.208 undivided miles of tracks. All of these tracks represent yard tracks and sidings and will be found detailed in the mileage table in appendix 1.

CORPORATE HISTORY

The Northern Pacific Terminal was incorporated August 28, 1882, in Oregon for the purpose of acquiring and disposing of real estate, construction of depot buildings, railroad and wagon-road bridges, railway tracks and other facilities, and to acquire and operate steamships, and for other purposes. It was organized September 7, 1882.

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The owned property, consisting of freight and passenger terminals at Portland, Oreg., with 24.964 miles of wholly owned and and 1.208 miles of jointly owned yard tracks and sidings, was acquired partly by purchase and partly by construction.

The company acquired from the Oregon Railway and Navigation Company in 1882 certain land on the west side of the Willamette River, at Portland, and land and terminal facilities, including tracks, on the east side of that river at Albina and East Portland. The east-side property was extensively improved as a shop site and freight yard between the date of acquisition and June 3, 1890, as of which date a contract of sale for the whole east-side property was entered into with the Oregon Railway and Navigation Company, that company assuming operations and the operations by the Northern Pacific Terminal on the east side of the river ceasing on that date.

Development of the west-side terminals consisted originally of temporary freight and passenger stations, storehouses and roundhouses and filling of grounds. Construction of the present union passenger station was begun in June 1890 and it was placed in operation February 14, 1896.

HISTORY OF CORPORATE FINANCING