Wikipedia:WikiProject Trains/ICC valuations/Oregon Short Line Railroad
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- OREGON SHORT LINE
- INTRODUCTORY
The Oregon Short Line is a corporation of Utah, having its principal office at Salt Lake City, Utah.
On January 9, 1912, the corporate books and subsidiary records of this company were destroyed by fire. New corporate books were opened as of June 30, 1911. The transactions between that date and January 9, 1912, were reestablished on the new books from various available records. Price, Waterhouse & Company, public accountants of New York City, have certified as follows:
- "In our judgment the restoration of the accounts has been accomplished as accurately as possible, and, while the fire necessarily involved some loss of detail, it did not otherwise appreciably impair the value of the company's records. We, therefore, certify that in our opinion, the assets and liabilities of the company at June 30, 1911, and the transactions between that date and January 9, 1912, have been reestablished on the new books in practically complete accord with the old books and records."
Therefore, it is impossible to give complete information concerning certain of the financial transactions of this company.
The Oregon Short Line is controlled by the Union Pacific Railroad Company through ownership of the entire outstanding capital stock.
It controls through stock ownership to the extent indicated, the following named companies: Des Chutes Railroad Company 100 percent, Oregon-Washington Railroad & Navigation Company 99.99 percent, Los Angeles & Salt Lake Railroad Company 50 percent, Yakima Valley Transportation Company 100 percent.
With the exception of Des Chutes Railroad Company, the property of which is operated by Oregon-Washington Railroad & Navigation Company, the above-named companies operate their own property.
The property of the Oregon Short Line, with the exception of the portion extending from Meaderville, near Butte, to Garrison, Mont., has been operated by its own organization from March 16, 1897, to date of valuation. The line from Butte to Garrison is leased to the Northern Pacific Railway Company, of which the section Silver Bow to Butte is used jointly by the Oregon Short Line and the Northern Pacific Railway Company. Although the Oregon Short Line acquired title to its property on February 23, 1897, and March 1, 1897, the results of corporate operations to March 15, 1897, are recorded in the accounts of its predecessor, the Oregon Short Line and Utah Northern Railway Company.
- CORPORATE HISTORY
The Oregon Short Line was incorporated February 9, 1897, in Utah, for the purpose of acquiring and further extending the railroad lines formerly belonging to the Oregon Short Line and Utah Northern Railway Company, and to construct or acquire extensions and connecting lines.
The Oregon Short Line acquired the property, rights, and franchises of that company, and, subsequently, of 13 other corporations. The Oregon Short Line itself, and those corporations, together with their predecessors, total 29 different corporations and comprise the line of corporate succession culminating in the Oregon Short Line as at present constituted.
The names of the corporations, the respective dates of incorporation, and for each predecessor the date and manner of succession follow.
| No. | Name | Incorporation | Succession |
|---|---|---|---|
| 1. | Oregon Short Line Railroad Company. | General laws of Utah, February 9, 1897. | |
| 2. | Oregon Short Line and Utah Northern Railway Company. | General laws of Utah, Idaho, Montana, Nevada, and Oregon through articles of consolidation dated July 27, 1889; filed August 1, 1889. | Sold at foreclosure January 9, 1897, after receivership begun October 13, 1893, to purchasing committee; conveyed February 23, 1897, and March 1, 1897, to 1. |
| 3. | Idaho Central Railway Company. | General laws of Wyoming, June 26, 1886. | Consolidated August 1, 1889, with 4, 5, 6, 7, 11, 13, and 15 to form 2. |
| 4. | The Ogden and Syracuse Railway Company. | General laws of Utah, March 2, 1887. | Consolidated August 1, 1889, with 3, 5, 6, 7, 11, 13, and 15 to form 2. |
| 5. | Oregon Short Line Railway Company. | General laws of Wyoming, April 14, 1881; by act of Congress, August 2, 1882, made a corporation in Utah, Idaho, and Wyoming. | Consolidated August 1, 1889, with 3, 4, 6, 7, 11, 13, and 15 to form 2. |
| 6. | Salt Lake and Western Railway Company. | General laws of Utah, May 30, 1881. | Consolidated August 1, 1889, with 3, 4, 5, 7, 11, 13, and 15 to form 2. |
| 7. | Utah Central Railway Company. | General laws of Utah, July 1, 1881. | Consolidated August 1, 1889, with 3, 4, 5, 6, 11, 13, and 15 to form 2. |
| 8. | The Utah Central Rail Road Company. | General laws of Utah, March 15, 1869. | Consolidated July 1, 1881, with 9, and 10 to form 7. |
| 9. | Utah Southern Railroad Company. | General laws of Utah, February 5, 1871. | Consolidated July 1, 1881, with 8 and 10 to form 7. |
| 10. | Utah Southern Railroad Extension. | General laws of Utah, December 29, 1874. | Consolidated July 1, 1881 with 8 and 9 to form 7. |
| 11. | The Utah and Nevada Railway Company. | General laws of Utah, February 16, 1881. | Consolidated August 1, 1889, with 3, 4, 5, 6, 7, 13, and 15 to form 2. |
| 12. | The Utah Western Railway Company. | General laws of Utah, June 15, 1874. | Sold at foreclosure November 3, 1880, to Theodore S. Bassett, representing the bondholders, who conveyed it to 11, April 30, 1881. |
| 13. | Utah and Northern Railway Company. | General laws of Utah, April 30, 1878; by act of Congress June 20, 1878, made a corporation in Utah, Idaho, and Montana. | Consolidated August 1, 1889, with 3, 4, 5, 6, 7, 11, and 15 to form 2. |
| 14. | The Utah Northern Railroad Company. | General laws of Utah, February 4, 1872. | Sold at foreclosure April 3, 1878, to S. H. H. Clark who conveyed it 13, May 3, 1878. |
| 15. | The Nevada Pacific Railway Company. | General laws of Nevada, May 13, 1889. | Consolidated August 1, 1889, with 3, 4, 5, 6, 7, 11, and 13 to form 2. |
| 16. | San Francisco, Idaho and Montana Railway Company. | General laws of Idaho, January 3, 1905. | Conveyed to Canyon Construction Company June 16, 1909, which on the same date sold the property to 1. |
| 17. | The Boise City Railway and Terminal Company. | General laws of Idaho, March 20, 1893. | Sold to 1, October 31, 1910. |
| 18. | Malad Valley Railroad Company. | General laws of Utah, November 25, 1902. | Sold to 1, October 31, 1910. |
| 19. | Minidoka and Southwestern Railroad Company. | General laws of Idaho, January 20, 1904. | Sold to 1, October 31, 1910. |
| 20. | Salmon River Railroad Company. | General laws of Idaho, April 19, 1901. | Sold to 1, October 31, 1910. |
| 21. | St. Anthony Railroad Company. | General laws of Idaho, May 18, 1899. | Sold to 1, October 31, 1910. |
| 22. | Wyoming Western Railroad Company. | General laws of Wyoming, September 17, 1900. | Sold to 1, October 31, 1910. |
| 23. | Yellowstone Park Railroad Company. | General laws of Idaho, September 14, 1905. | Sold to 1, October 31, 1910. |
| 24. | The Idaho Northern Railway Company, Limited. | General laws of Idaho, December 18, 1897. | Sold to 1, December 30, 1912. |
| 25. | Boise, Nampa and Owyhee Railway Company, Limited. | General laws of Idaho, February 7, 1896. | Sold to 24, January 21, 1907. |
| 26. | Central Idaho Railroad Company. | General laws of Utah, February 4, 1910. | Sold to 1, August 5, 1914. |
| 27. | Payette Valley Railroad Company. | General laws of Utah, February 6, 1906. | Sold to 1, August 5, 1914. |
| 28. | Payette Valley Extension Railroad Company. | General laws of Utah, May 25, 1910. | Sold to 1, August 5, 1914. |
| 29. | Salt Lake and Idaho Railroad Company. | General laws of Utah, August 10, 1909. | Sold to 1, August 5, 1914. |
- DEVELOPMENT OF FIXED PHYSICAL PROPERTY
The recorded mileage owned by the Oregon Short Line amounts to 2,132.79, of which 553.26 miles were acquired by construction and 2,027.42 miles by purchase, less mileage sold or retired by the Oregon Short Line aggregating 447.89. The inventoried mileage is 2,123.653. Of the 28 predecessor companies, two did not construct or improve any property and one did not complete construction begun. The 2,027.42 miles of road is the net of 2,092.83 miles after deducting 65.41 miles for abandonments and remeasurements and was constructed by the remaining 25 predecessors, the names of which follow, with the mileage for each:
Oregon Short Line and Utah Northern Railway Company 89.98 Idaho Central Railway Company 18.94 The Oregon [sic] and Syracuse Railway Company 5.85, Oregon Short Line Railway Company 592.20, Salt Lake and Western Railway Company 57.71, The Utah Central Rail Road Company 36.34, Utah Southern Railroad Company 102.35, Utah Southern Railroad Extension 137.24, The Utah and Nevada Railway Company 2.42, The Utah Western Railway Company 37.32, Utah and Northern Railway Company (including 22.81 miles owned jointly with Oregon Short Line Railway Company) 384.99, The Utah Northern Railroad Company 81.62, The Boise City Railway and Terminal Company 8.38, Malad Valley Railroad Company 46.40, Minidoka and Southwestern Railroad Company 103.08, Salmon River Railroad Company 85.99, St. Anthony Railroad Company 55.79, Wyoming Western Railroad Company 22.64, Yellowstone Park Railroad Company 70.36, The Idaho Northern Railway Company, Limited, 27.47, Boise, Nampa and Owyhee Railway Company, Limited, 29.55, Central Idaho Railroad Company 58.26, Payette Valley Railroad Company 10.83, Payette Valley Extension Railroad Company 17.96, Salt Lake and Idaho Railroad Company 9.16.
Details with respect to the construction of this property are given in accounting report. [where?]
- HISTORY OF CORPORATE FINANCING
- SALT LAKE AND IDAHO RAILROAD COMPANY — PREDECESSOR OF THE OREGON SHORT LINE
- INTRODUCTORY
This company was incorporated August 10, 1909, in Utah. It was controlled on August 5, 1914, date of sale, by the Oregon Short Line through ownership of capital stock. The records reviewed do not indicate that this company then controlled any common-carrier corporations.
The accounting records contained only capital-stock transactions.
The property was operated under lease by the Oregon Short Line from November 23, 1912, to date of sale.
The railroad owned extended from Burley to Marshfield, Idaho, and had been acquired by construction. In addition, it owned a partially graded roadbed beyond Marshfield to Strevell, about 50 miles.
- HISTORY OF COPORATE FINANCING