Wikipedia:WikiProject Trains/ICC valuations/Riverside, Rialto and Pacific Railroad

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The railroad of Riverside, Rialto & Pacific Railroad Company, hereinafter called the carrier, is a single-track standard-gauge steam-and-electric railroad located in the southern part of California. The mileage wholly and jointly owned extends northerly from Riverside, Calif., to Rialto, Calif., a distance of 9.808 miles. The carrier solely owns 11.991 miles of all tracks and jointly owns 1.138 miles of all tracks as follows: [table]

In Appendix 1 will be found a general description of the property of the carrier.

Corporate history.—The carrier was incorporated on February 2, 1915, under the laws of the State of California, for a period of 50 years. The principal incorporator was William G. Henshaw, of Oakland, Calif. Henshaw was the sole owner of the Crescent City Railway Company, the predecessor of the carrier. The records of the carrier show that it took over and began operating the property of the Crescent City Railway Company on January 1, 1915, before being incorporated. This conflict of dates in the records was possible as the same interests controlled both companies. The carrier purchased the property of the Crescent City Railway Company on January 29, 1915, that being the avowed purpose of its incorporation. Its principal office is at San Francisco, Calif. The carrier is controlled by Henshaw through ownership of the entire issue of capital stock, except the necessary shares for qualifying directors. The additions and betterments made by the carrier, since acquiring the property, consist principally of the improvement of the bridges and the laying of additional industrial tracks.

The Crescent City Railway Company was incorporated on November 27, 1906, under the laws of the State of California for a period of 50 years, the incorporators being five individuals, all residents of Oakland, Calif. The purpose of the Crescent City Railway Company was to construct a line connecting the plant of the Riverside Portland Cement Company at Crestmore, Calif., with the lines of the Atchison, Topeka & Santa Fe Railway Company and of Southern Pacific Railroad Company. The properties of the Crescent City Railway Company were sold to the carrier as of January 29, 1915, the latter having commenced operating the property on January 1, 1915. The Crescent City Railway Company forfeited its charter on March 4, 1916, on account of nonpayment of the State corporation license tax.

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

Actual construction of the line from Riverside to Crestmore was commenced in February, 1907, by the Shattuck-Desmond Company, contractors. An extension to Bloomington was built north from Crestmore in 1911. The property was constructed as an industrial road and then operated as a plant facility of the Riverside Portland Cement Company but on December 26, 1912, the Crescent City Railway Company commenced doing business as a common-carrier and opened its books as such. On this date 6.52 miles of line were in operation. During 1913 and the early part of 1914, an extension from Bloomington to Rialto of 3.08 miles was completed and placed in operation. The Crescent City Railway Company also purchased a one-half interest in the 0.63 mile of interchange tracks at Crestmore, constructed by the San Pedro, Los Angeles & Salt Lake Railroad Company.

HISTORY OF CORPORATE FINANCING