Wikipedia:WikiProject Trains/ICC valuations/San Joaquin and Eastern Railroad

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The railroad of San Joaquin & Eastern Railroad Company, hereinafter called the carrier, is a single-track standard-gauge steam railroad, located in the central part of California. The owned mileage extends easterly from El Prado, Calif., to Cascada, Calif., a distance of 56.362 miles. The carrier also owns yard and side tracks totaling 6.049 miles. Its road thus embraces 61.411 miles of all tracks owned. In Appendix 1 will be found a general description of the property of the carrier.

Corporate history.—The carrier was incorporated under the provisions of the civil code of the State of California. Articles of incorporation were filed with the secretary of state March 16, 1912, and organization was effected March 18, 1912, by the meeting of the directors named in the articles. The purpose of the incorporation was to construct a railroad for the transportation of men and materials to the site of a power plant which the Pacific Light and Power Company was building on Big Creek, in the Sierra Nevada. The incorporators, G. C. Ward and four others, represented the Pacific Light and Power Company. The principal office of the carrier is located at Los Angeles, Calif. The detailed facts as to the development of the fixed physical property are given in Appendix 2.

APPENDIX 2

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The entire railroad of the carrier was constructed by the Stone and Webster Construction Company. It had no formal contract with the carrier for building the road, but built it by arrangement with the Pacific Light and Power Company, preparatory to carrying out a contract to construct for that company power plants on Big Creek. The Stone and Webster Construction Company was paid by the carrier in cash, the price being actual cost plus a fixed profit. Construction commenced in March, 1912, and was sufficiently completed by August 1, 1912, to permit of the road being opened for operation. The Stone and Webster Construction Company used its own forces and completed its work in December, 1912. The additions and betterments made by the carrier consisted principally of ballasting, fencing right of way, constructing spur tracks, and creating additional fuel, water, and terminal facilities.

HISTORY OF CAPITAL FINANCING