Wikipedia:WikiProject Trains/ICC valuations/Tonopah and Goldfield Railroad

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The railroad of Tonopah and Goldfield Railroad Company, herein called the carrier, is a single-track, standard-gauge, steam railroad, extending from Goldfield northwesterly to Tonopah Junction on the line of Central Pacific Railway Company, with a branch line extending from Main Line Junction to Tonopah. The owned main-line mileage is: Tonopah Junction to Tonopah, 60.001 miles; Columbia Junction to Goldfield, 28.935 miles; Main Line Junction to McSweeney Junction, 7.184 miles. The total length of main line and branch line is 96.120 miles. The carrier also owns yard and side tracks totaling 13.899 miles, making a total mileage of 110.019 miles all tracks owned. The property is all located within the State of Nevada.

Corporate history.—The carrier was incorporated under the laws of Nevada, November 1, 1905, and is a consolidation of the Tonopah Railroad Company and the Goldfield Railroad Company. The object of the consolidation was to form a continuous line of railroad under one management between Tonopah Junction and Goldfield. The carrier, at the consolidation, acquired all of the property of every sort and description of the two companies merged. The consolidation was completed November 24, 1905, and the property was put into operation November 1, 1905. The principal incorporators were individuals connected with the Tonopah Mining Company, which controls the carrier through ownership of a majority of the capital stock. The principal office of the carrier is at Tonopah, while an office for the general transaction of business is maintained at Goldfield.

APPENDIX 2

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The property owned by the carrier was acquired through the consolidation, hereinbefore explained, and by purchase:

Acquired through consolidation from the Tonopah Railroad on Nov. 1, 1905; single-track, standard-gauge, steam railroad, extending from Rhodes, now Tonopah Junction, to Tonopah 60.001

Acquired through consolidation from the Goldfield Railroad on Nov. 1, 1905; standard-gauge, single-track, steam railroad, extending from Columbia Junction on the Tonopah Railroad via McSweeney Junction to Goldfield, and from McSweeney Junction to Main Line Junction on the line of the Tonopah Railroad 36.119

Total 96.120

HISTORY OF CORPORATE FINANCING

Predecessor Companies

TONOPAH RAILROAD COMPANY

The Tonopah Railroad Company was a Nevada corporation, whose principal office was in Carson City, Nev. It was incorporated on July 30, 1903, under the general laws of Nevada for a period of 50 years. The incorporators were 10 individuals, all residents of Philadelphia, Pa. At November 1, 1905, the date of consolidation, hereinbefore explained, the company owned and operated a single-track, standard-gauge, steam railroad, extending from Rhodes (now Tonopah Junction), Nev., to Tonopah, Nev., approximately 60 miles. It used under lease 9.3 miles of the line of the Nevada & California Railway Company (Central Pacific Railway Company, successor in interest), between Tonopah Junction and Mina, Nev.

The railroad was constructed originally as a narrow-gauge line by The Tonopah Mining Company under a contract with the Tonopah Railroad dated December 30, 1903. Records indicate that one John W. Brock was president of both companies at this time. Construction was finished and the road opened for operation in July, 1904. Between November, 1904, and August, 1905, the gauge was widened to standard. All expenditures for construction of the road were borne by the mining company. Subsequent earnings were sufficient to pay for the equipment and all operating costs.

The capital liability of the Tonopah Railroad at October 31, [...]

GOLDFIELD RAILROAD COMPANY

The Goldfield Railroad Company was a Nevada corporation, whose principal office was in Tonopah, Nev. It was incorporated on October 10, 1904, under the general laws of Nevada for a period of 50 years. The incorporators were 10 individuals, 8 residents of Tonopah and 2 residents of Philadelphia, Pa. The principal one, John W. Brock, was apparently connected with the Tonopah Mining Company. At November 1, 1905, the date of consolidation, hereinbefore set forth, the Goldfield Railroad owned and operated a standard-gauge, single-track, steam railroad extending from Columbia Junction, on the Tonopah Railroad via McSweeney Junction to Goldfield, Nev., and from McSweeney Junction to Main Line Junction on the Tonopah Railroad, approximately 36 miles. The railroad was constructed and equipped by the Pacific Construction Company under contracts dated January 27, 1905, and May 1, 1905. These contracts are not obtainable. The work was completed and the line opened for operations on September 12, 1905. Obtainable records indicate that the officers and directors of the construction company were, in large part, the same as those of the railroad company. All expenditures for road and equipment were borne by the construction company, and earnings during the brief period of operations were sufficient for all other purposes.

The capital liability at October 31, 1905, was $1,100,000, [...]