Wikipedia:WikiProject Trains/ICC valuations/Bingham and Garfield Railway

Interstate Commerce Commission, Valuation Reports, Volume 106

Bingham and Garfield Railway

Location and General Description of Property

The railroad of Bingham & Garfield Railway Company, hereinafter called the carrier, is a single-track standard-gauge steam railroad located in the north-central part of Utah. The owned mileage extends in a southerly direction from Garfield to Bingham, a distance of 19.613 miles, with four spurs aggregating 11.748 miles in length, making a total main-track mileage of 31.361 miles. The carrier also owns yard and side tracks totaling 29.208 miles. Its road thus embraces 60.569 miles of all tracks wholly owned. In Appendix 1 will be found a general description of the property of the carrier.

Corporate History

The carrier was incorporated July 8, 1908, under the general railroad laws of Utah. The purpose for which it was incorporated was to construct and operate a railroad between Bingham and the mining property in the vicinity thereof and Garfield and the smelting plants in that vicinity, a distance of about 20 miles. The carrier was organized on the same date. The articles of incorporation were amended by the carrier filing a certificate dated September 7, 1912, providing for a terminus at Saltair Beach and for about 35 miles of main-line railroad and by filing certificates dated November 7, 1911, and June 11, 1913, providing for increases in the authorized capital stock. The first certificates so filed changed the capital stock authorized to $2,500,000 par value and the last to $6,000,000 par value. From the date it acquired certain yard and side tracks on April 1, 1910, to the date its main line of railroad between Garfield and Bingham was placed in operation September 15, 1911, effective in the accounts as of October 1, 1911, the carrier's property was operated by the Utah Copper Company. Since the last-mentioned date such of the property, with the exception of certain mileage leased to the Utah Copper Company, has been operated by the carrier's own organization. The principal office of the carrier is located at Salt Lake City. The detailed facts as to the development of fixed physical property are given in Appendix 2.

Development of Fixed Physical Property

On April 1 and August 1, 1910, the carrier acquired certain yard tracks and sidings from the Utah Copper Company. The road owned or operated by the carrier on date of valuation had been acquired as follows:

[Road]	Construction commenced	Acquired for operations	Approximate mileage
By construction:
Garfield Junction to Bingham.	May, 1910	Sept. 15, 1911	19.542
Mileage determined by the commission as of date of valuation exceeded carrier's recorded mileage by.	---	---	11.819
Total road mileage owned on date of valuation as ascertained by commission's measurements.	---	---	31.361
Railroad constructed jointly and owned equally with Los Angeles & Salt Lake Railroad Company. At Garfield Junction.	Year 1911	Year 1911	.120
Less difference between mileage determined by the commission and carrier's recorded mileage.	---	---	.120
Road mileage on date of valuation.	---	---	31.361

The following differences exist between the mileage of the carrier and that ascertained by our inventory:

[Description]	Main track	All tracks
Recorded mileage by carrier.	19.542	101.774
Mileage shown by commission's measurements.	31.361	60.569
Increase.	11.819	---
Decrease.	---	41.205

The consist of the several differences has not been ascertained.

Leased Railway Property

The carrier used property of others and other carriers and noncarrier companies used the property of the carrier to the extent indicated below, the amounts stated as rentals payable or receivable being those accrued for the year ended on date of valuation:

Solely owned but not used, leased to the—

Utah Copper Company, 41.57 miles of track, rental to be an amount equal to 25 cents per ton on freight handled; rental for year $229,539.76; also six steam locomotives, terms not ascertained.

Solely owned but jointly used, used with the—

Denver and Rio Grande Railroad Company, 10.39 miles, at Magma and Arthur, expense of switching divided on basis of tonnage handled, the carrier to maintain tracks.

Western Pacific Railway Company, 0.02 mile, at Garfield, user to pay a proportion of cost of maintenance and operation, based on cars moved.

Utah Copper Company, 9.12 miles of yard tracks, no rental.

Jointly used but not owned, owned by the—

Utah Copper Company, 3.14 miles of yard track at Magma and Arthur, portion of switching expense, based on tonnage handled, is borne by the lessee; tracks are maintained by the carrier.

Denver and Rio Grande Railroad Company, 0.47 mile of main track at Magma and 2.95 miles of yard track at Magma and Arthur. A portion of expense of switching, based on tonnage handled, was borne by the lessee; tracks were maintained by the lessor; also 0.86 mile of yard track at or near Bingham. These rights granted in consideration of similar rights over near-by tracks granted by the carrier.

Garfield Smelting Company, 5.36 miles, near Garfield, verbal agreement without payment of rental.

Western Pacific Railway Company, 0.11 mile at Garfield, for which it paid a proportion, based on cars moved, of cost of maintenance and operation.

Hercules Powder Company, 0.25 mile, known as Nitre Cake Spur; nitre cake was handled over this spur at cost, not to exceed 25 cents per ton, in payment of rights.