Wikipedia:WikiProject Trains/ICC valuations/Ventura County Railway

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The railroad of the Ventura County Railway Company, hereinafter called the carrier, is a standard-gage steam railroad, located in southwestern California. The property consists of three branch lines extending from Oxnard to Hueneme, 5.128 miles, Oxnard to McGrath, 5.827 miles, and Round Mountain Junction to Round Mountain, 6.057 miles, with three short spurs to beet dumps, aggregating 19.906 miles of first main track. The carrier also owns 0.219 mile of second main track and 2.641 miles of yard tracks and sidings. Its road thus embraces 22.766 miles of all tracks owned and used. The carrier is an industrial railroad controlled by the American Beet Sugar Company owners of a large factory at Oxnard, Calif., from which the road derives most of its revenue.

CORPORATE HISTORY

The carrier was incorporated May 11, 1911, under general laws of California to construct, own, and operate a standard-gage railroad from the water front in the town of Hueneme to factory of the American Beet Sugar Company in Oxnard, together with branches to Patterson and McGrath ranches and to Round Mountain, all in Ventura County, Calif. The date of organization was May 13, 1911. It acquired at its organization property of The Bakersfield and Ventura Railroad Company, which had purchased it from the estate of Eben Smith, who had previously acquired it from The Bakersfield and Ventura Railway Company. The former company was incorporated in Colorado June 25, 1908, and the latter in California in February 1903.

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

Of the road owned on date of valuation, the carrier acquired 16.95 miles from The Bakersfield and Ventura Railroad Company that had been constructed by The Bakersfield and Ventura Railway Company during 1903-5. 1t constructed 4.98 miles of extensions during 1912 and 1913, and retired minor sections of track aggregating 2.512 miles. The recorded first main-track mileage is 19.418; the inventoried mileage 19.906.

HISTORY OF CORPORATE FINANCING

Predecessor Companies

THE BAKERSFIELD AND VENTURA RAILROAD COMPANY

This company was incorporated June 25, 1908, under general laws of Colorado. No accounting records [...] It could not be determined whether this company was controlled by any individual or corporation on June 2, 1911, the date of sale, or whether it controlled any common-carrier corporation. This company owned and operated on date of sale 16.95 miles of railroad in Ventura County, Calif., which it had acquired from the estate of Eben Smith, who had previously acquired it, after foreclosure, from The Bakersfield and Ventura Railway Company. Authorized capital stock [...]

THE BAKERSFIELD AND VENTURA RAILWAY COMPANY

This company was incorporated in February 1903, under general laws of California. No accounting records [...] It could not be determined whether this company was controlled by any individual or corporation on December 24, 1906, the date of foreclosure sale, or whether it controlled any common-carrier corporation. Authorized capital stock [...] The property was sold December 24, 1906, under foreclosure of the mortgage, and was conveyed to T. W. Phelps as special administrator of the estate of Eben Smith. This company owned on date of sale 16.95 miles of road in Ventura County, Calif., which it acquired by construction. Work was commenced in 1903 and operation started about 1905.