Wikipedia:WikiProject Trains/ICC valuations/Union Pacific Railroad
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- UNION PACIFIC
- INTRODUCTORY
The Union Pacific is a corporation of Utah, having its home office at Salt Lake City, Utah, and its executive and general offices at New York, N. Y., and Omaha, Nebr., respectively.
January 9, 1912, the corporate books and subsidiary records of the 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 records do not indicate that the Union Pacific is controlled by any individuals or corporation. This company directly controls, through ownership of capital stock to the extent shown, the following common-carrier corporations: Oregon Short Line Railroad Company, 100 percent; The St. Joseph and Grand Island Railway Company, 94.42 percent.
This company indirectly controls to the extent shown, through its ownership of capital stock of the Oregon Short Line Railroad Company, the Oregon-Washington Railroad & Navigation Company, 100 percent; Los Angeles & Salt Lake Railroad Company, 60 percent.
This company also controls, through ownership of the entire capital stock, the Union Pacific Equipment Association. Through this association certain of the equipment of the Union Pacific and its affiliated companies has been acquired by purchase or by lease.
This company controls jointly with other companies, through stock ownership, to the extent indicated, the following common-carrier corporations:
The Denver Union Terminal Railway Company, 16.66 percent; jointly controlled with The Atchison, Topeka and Santa Fe Railway Company, Chicago, Burlington & Quincy Railroad Company, The Chicago, Rock Island and Pacific Railway Company, The Colorado and Southern Railway Company, and The Denver and Rio Grande Railroad Company.
Kansas City Terminal Railway Company, 8.33 percent; jointly controlled with The Atchison, Topeka and Santa Fe Railway Company, The Chicago and Alton Railroad Company, Chicago Great Western Railroad Company, Chicago, Burlington & Quincy Railroad Company, The Chicago, Rock Island and Pacific Railway Company, Chicago, Milwaukee and St. Paul Railway Company, The Kansas City Southern Railway Company, Missouri, Kansas & Texas Railway Company, Missouri Pacific Railroad Company, St. Louis-San Francisco Railway Company, and the Wabash Railway Company.
The Leavenworth Depot & Railroad Company, 41.66 percent; jointly controlled with The Atchison, Topeka and Santa Fe Railway Company, The Chicago Rock Island and Pacific Railway Company, and the Missouri Pacific Railroad Company.
Ogden Union Railway and Depot Company, 50 percent; jointly controlled with the Central Pacific Railway Company.
This company, with the Southern Pacific Company, through ownership by each of 50 percent of its capital stock, jointly controls the Pacific Fruit Express Company.
The property of the Union Pacific has been operated by its own organization from February 1, 1898, until December 31, 1917, except for the section of road extending 5 miles west from Ogden, Utah, which has been operated by the Southern Pacific Company, lessee of the Central Pacific Railway Company. On January 1, 1918, the common-carrier property of the Union Pacific was taken over for operation by the United States Railroad Administration which still operates it on date of valuation.
- CORPORATE HISTORY
The Union Pacific was incorporated July 1, 1897, in Utah, for the principal purpose of acquiring the property, rights, and franchises of The Union Pacific Railway Company. It subsequently acquired by purchase the property, rights, and franchises of 15 other railroad corporations. The Union Pacific, itself, and those corporations, together with their predecessors, total 41 different corporations, of which one underwent two changes of name, and comprise the line of corporate succession culminating in the Union Pacific as at present constituted.
The names of the corporations, the respective dates of incorporation, and for each predecessor the date and manner of succession follows.
| No. | Name | Incorporation | Succession |
|---|---|---|---|
| 1. | Union Pacific Railroad Company. | General laws of Utah, July 1, 1897. | |
| 2. | The Union Pacific Railway Company. | Act of Congress approved July 1, 1862, amended July 2, 1864, through articles of consolidation dated January 24, 1880; filed with Department of Interior January 26, 1880; in Nebraska September 20, 1880; in Colorado August 2, 1880; in Kansas April 30, 1880. | Sold under foreclosure after receivership begun October 13, 1893, and conveyed in 10 parts from January 22, 1898, to August 9, 1901, to 1. |
| 3. | The Union Pacific Railroad Company. | Act of Congress approved July 1, 1862, amended July 2, 1864. | Consolidated January 24, 1880, with 4 and 5 to form 2. |
| 4. | Denver Pacific Railway and Telegraph Company. | General laws of Colorado, November 19, 1867. | Consolidated January 24, 1880, with 3 and 5 to form 2. |
| 5. | Kansas Pacific Railway Company. | See 6. | Consolidated January 24, 1880, with 3 and 4 to form 2. |
| 6. | Union Pacific Railway Company, Eastern Division. | See 7. | Name changed to 5 by authority joint resolution of Congress approved March 3, 1869. |
| 7. | Leavenworth, Pawnee and Western Railroad Company. | Special act of Legislature of Kansas, August 30, 1855. | Name changed to 6 on June 6, 1863. |
| 8. | The Denver and Boulder Valley Railroad Company. | General laws of Colorado, August 5, 1870. | Sold under foreclosure after receivership begun July 16, 1894, and conveyed March 30, 1898, to 1. |
| 9. | Omaha and Republican Valley Railway Company. | General laws of Nebraska and Kansas through articles of consolidation dated February 3, 1887; filed in Nebraska and Kansas February 14, 1887. | Sold under foreclosure after receivership begun October 13, 1893, and conveyed October 4, 1898, to 1. |
| 10. | Blue Valley Railway Company. | General laws of Kansas through articles of consolidation dated July 1, 1886; filed January 1, 1887. | Consolidated February 3, 1887, with 14 to form 9. |
| 11. | The Manhattan and Blue Valley Railroad Company. | General laws of Kansas, July 28, 1879. | Consolidated July 1, 1886, with 13 to form 10. |
| 12. | Manhattan and Northwestern Railroad Company. | General laws of Kansas, June 2, 1871. | Sold under foreclosure and conveyed July 15, 1879, to R. W. Donnell, trustee, who deeded property July 19, 1879, to B. B. Purcell; conveyed by Purcell and wife July 28, 1879, to 11. |
| 13. | The Marysville and Blue Valley Railroad Company. | General laws of Kansas, July 5, 1879. | Consolidated July 1, 1886, with 11 to form 10. |
| 14. | The Omaha and Republican Valley Railway Company of Nebraska. | General laws of Nebraska through articles of consolidation dated June 26, 1886; filed July 13, 1886. | Consolidated February 3, 1887, with 10 to form 9. |
| 15. | Omaha, Niobrara and Black Hills Railroad Company. | General laws of Nebraska; certificate of organization filed April 28, 1879; articles of incorporation filed May 1, 1880. | Consolidated June 26, 1886, with 16 to form 14. |
| 16. | Omaha and Republican Valley Railroad Company. | General laws of Nebraska; certifcate [sic] of organization filed August 18, 1876; articles of incorporation filed September 5, 1876. | Consolidated June 26, 1886, with 15 to form 14. |
| 17. | The Kearney and Black Hills Railway Company. | General laws of Nebraska, May 22, 1889. | Sold under foreclosure after receivership begun October 13, 1893, and conveyed October 4, 1898, to 1. |
| 18. | The Union Pacific, Lincoln and Colorado Railway Company. | General laws of Kansas and Colorado through articles of consolidation dated August 1, 1888; filed in Kansas, November 5, 1888; in Colorado, October 6, 1888. | Sold under foreclosure after receivership begun October 13, 1893, and conveyed October 4, 1898, to 1. |
| 19. | The Union Pacific [sic] Lincoln and Colorado Railway Company in Kansas. | General laws of Kansas, June 8, 1888. | Consolidated August 1, 1888, with 23 to form 18. |
| 20. | Salina, Lincoln and Western Railway Company. | General laws of Kansas, August 12, 1885. | Capital stock exchanged for stock of 19, July 25, 1888. |
| 21. | The Lincoln and Colorado Railway Company. | General laws of Kansas, January 8, 1887. | Capital stock exchanged for stock of 19, July 25, 1888. |
| 22. | Oakley and Colby Railway Company. | General laws of Kansas, November 16, 1885. | Capital stock exchanged for stock of 19, July 25, 1888. |
| 23. | The Union Pacific, Lincoln and Colorado Railway Company in Colorado. | General laws of Colorado, June 8, 1888. | Consolidated August 1, 1888, with 19 to form 18. |
| 24. | Junction City and Fort Kearney Railway Company. | General laws of Kansas, June 29, 1871. | Sold under foreclosure after receivership begun October 13, 1893, and conveyed May 29, 1899, to 1. |
| 25. | The Carbon Cut-Off Railway Company. | General laws of Wyoming, February 12, 1889. | Sold to 1, December 30, 1899. |
| 26. | Echo and Park City Railway Company. | General laws of Utah, January 17, 1881. | Sold to 1, December 30, 1899. |
| 27. | Utah Eastern Rail Road Company. | General laws of Utah, December 27, 1879. | Sold under foreclosure April 30, 1887, after receivership begun February 16, 1885, to Edw. Dickinson, trustee, who conveyed property May 18, 1887, to 26. |
| 28. | The Summit County Railroad Company. | General laws of Utah, November 29, 1871. | Sold under foreclosure and deeded November 23, 1880, to Sidney Dillon, who conveyed property July 1, 1881, to 26. |
| 29. | Coalville and Echo Railway [sic] Company. | No record. | Rights in a partly graded roadbed acquired in July 1874 by 28. |
| 30. | Salina and South Western Railway Company. | General laws of Kansas through articles of consolidation dated December 21, 1880; filed February 24, 1881. | Sold at foreclosure after receivership begun July 13, 1900, and conveyed September 21, 1900, to 1. |
| 31. | The Salina and Southwestern Railway Company. | General laws of Kansas, December 18, 1878. | Consolidated December 21, 1880, with 32 to form 30. |
| 32. | The Kansas and Southwestern Railway Company. | General laws of Kansas, July 15, 1879. | Consolidated December 21, 1880, with 31 to form 30. |
| 33. | The Solomon Railroad Company. | General laws of Kansas, August 13, 1877. | Sold at foreclosure after receivership begun July 21, 1900, and conveyed September 21, 1900, to 1. |
| 34. | The Laramie, North Park and Pacific Railroad and Telegraph Company. | General laws of Wyoming, May 24, 1880. | Sold to 1, December 20, 1900. |
| 35. | The Denver Union Railway & Terminal Company. | General laws of Colorado, December 31, 1889. | Sold to 1, August 20, 1900. |
| 36. | The Leavenworth, Kansas and Western Railway Company. | General laws of Kansas, September 13, 1897. | Sold to 1, May 25, 1908. |
| 37. | Kansas Central Railroad Company. | General laws of Kansas, April 15, 1879. | Sold under foreclosure after receivership begun October 13, 1893, and conveyed September 24, 1897, to 36. |
| 38. | The Kansas Central Railway Company. | General laws of Kansas, June 1, 1871. | Sold at foreclosure and deeded April 15, 1879, to C. K. Garrison and L. T. Smith, who conveyed the property April 17, 1879, to 37. |
| 39. | The Topeka & Northwestern Railroad Company. | General laws of Kansas, June 9, 1904. | Sold to 1, May 30, 1908. |
| 40. | The South Omaha and Western Railroad Company. | General laws of Nebraska, September 15, 1905. | Sold to 1, December 26, 1908. |
| 41. | Hastings and Northwestern Railroad Company. | General laws of Nebraska, July 24, 1912. | Sold to 1, December 28, 1917. |
- DEVELOPMENT OF FIXED PHYSICAL PROPERTY
The recorded mileage owned by the Union Pacific amounts to
- KANSAS PACIFIC RAILWAY COMPANY — PREDECESSOR OF THE UNION PACIFIC RAILWAY COMPANY, FORMERLY NAMED UNION PACIFIC RAILWAY COMPANY, EASTERN DIVISION, ORIGINALLY NAMED LEAVENWORTH, PAWNEE AND WESTERN RAILROAD COMPANY
- INTRODUCTORY
This company was incorporated by special act of the Legislature of the Territory of Kansas, approved August 30, 1855, as the Leavenworth, Pawnee and Western Railroad Company. By vote of stockholders, the name of the latter was changed on June 6, 1863, to the Union Pacific Railway Company, Eastern Division, which was in turn changed to the Kansas Pacific Railway Company by joint resolution of Congress, approved March 3, 1869.
No accounting records of the company were obtained for the period from its incorporation in 1855 to July 1, 1865. For that reason only partial information can be given from its accounts in connection with its financial dealings or investments. Certain of the information given herein pertaining to the period first mentioned has been taken from sources other than the accounting records of the company.
The records do not indicate whether the company was controlled by any individual or corporation on January 24, 1880, the date of consolidation with The Union Pacific Railroad Company and the Denver Pacific Railway and Telegraph Company to form The Union Pacific Railway Company. Jay Gould at that time owned $4,000,000 of its capital stock. This company controlled on date of consolidation through ownership of capital stock, the following common-carrier corporations: Denver Pacific Railway and Telegraph Company, Golden, Boulder and Caribou Railroad Company, Junction City and Fort Kearney Railway Company, The Solomon Railroad Company, Central Branch Union Pacific Railroad Company, The Saint Joseph Bridge Building Company, and the Kansas Central Railroad Company.
The property of this company was operated by its own organization from the dates the several sections were placed in operation to November 20, 1876; by receivers from November 21, 1876, to June 14, 1879, and by its own organization from June 15, 1879, to date of consolidation. Although the company disposed of its property on January 24, 1880, its accounting records include the results of corporate operations to January 31, 1880.
The company owned on date of consolidation a single-track, standard-gage, steam railroad of 674.43 miles, located in the States of Kansas and Colorado extending from the Missouri-Kansas State line at Kansas City to Denver, Colo., with branches to Leavenworth, Enterprise, and Wyandotte, in Kansas. The road owned on date of consolidation had been acquired by construction.
- DEVELOPMENT OF FIXED PHYSICAL PROPERTY
A contract for the construction of the first mileage was given September 9, 1862, to Ross, Steel & Co., a contracting firm of Montreal, Canada, which began construction work at Wyandotte, Kans. This contract was later abrogated, and a new contract was given February 13, 1864, to Samuel Hallett, who was affiliated with the company. Before any road was completed, Hallett died, and John D. Perry & Company, also affiliated with the company, continued the construction work and completed the first 40-mile section, extending west from the Missouri-Kansas State line, together with the 1.82-mile branch extending to Wyandotte, Kans.