Wikipedia:WikiProject Trains/ICC valuations/Puget Sound and Willapa Harbor Railway

Interstate Commerce Commission, Valuation Reports, Volume 44

Puget Sound & Willapa Harbor Railway

Location and General Description of Property

The railroad of the Puget Sound & Willapa Harbor Railway Company, hereinafter called the Puget Sound & Willapa Harbor, is a single-track, standard-gage, steam railroad, located in southwestern Washington. The line extends from Maytown to Raymond, a distance of 66.212 miles. Including 13.135 miles of yard tracks and sidings, the road embraces 79.347 miles of all tracks owned and used.

Introductory

The Puget Sound & Willapa Harbor Railway is a corporation of Washington, having its principal office at Seattle, Wash. It is controlled through ownership of its capital stock by the St. Paul. It does not control any common-carrier corporation.

The company operated its property with its own organization from the dates acquired until December 31, 1917. Since January 1, 1918, its common-carrier property has been operated by the United States Railroad Administration.

Corporate History

The Puget Sound & Willapa Harbor Railway was incorporated April 9, 1913, under the general laws of Washington, to acquire and operate railroad property, including that of the Pacific and Eastern Railway Company. The date of organization was April 10, 1913. On May 1, 1913, it purchased the property of the Pacific and Eastern Railway Company which had been incorporated October 22, 1906, under the general laws of Washington. It purchased on August 12, 1913, the property, rights, and franchises of the Olympia Terminal Railway Company which had been incorporated September 6, 1911, under the general laws of Washington. On September 16, 1913, it purchased the property, rights, and franchises of the Olympia Southern Railway Company, which had been incorporated July 1, 1913, under the general laws of Washington.

Development of Fixed Physical Property

The Puget Sound & Willapa Harbor Railway purchased the railroad extending from P. & E. Junction to Willapa, 8.56 miles built in 1907-1910. It constructed a road from P. & E. Junction to Maytown, 54.56 miles, and from Willapa to Raymond, 2.75 miles in 1914-1915, a total of 65.87 miles. The inventoried mileage is 66.212. Some right of way, some grading, and certain rights under which the constructed line was built, were acquired from the Olympia Terminal Railway Company and the Olympia Southern Railway Company.

Leased Railway Property

The Puget Sound & Willapa Harbor Railway on date of valuation leases certain track material, valued at $6,111.04, to others for which an annual rental is charged.

By an agreement dated July 1, 1916, the Puget Sound & Willapa Harbor Railway grants joint use of certain of its tracks at Maytown, Wash., to the St. Paul at an annual rental of 2½ percent on the valuation of the tracks.

By an agreement dated January 1, 1917, the St. Paul grants joint use of its depot and other facilities at Maytown, Wash., to the Puget Sound & Willapa Harbor Railway at an annual rental of 2½ percent on the valuation of the property.

Predecessor Companies

Pacific and Eastern Railway

No accounting records of the Pacific and Eastern Railway Company were obtained. The information given below has been taken from records of the Puget Sound & Willapa Harbor Railway. The Pacific & Eastern Railway Company is an active corporation on date of valuation, but does not own or operate common-carrier property.

This company was organized by three lumber corporations which controlled it on May 1, 1913, date of sale of its railway property to the Puget Sound & Willapa Harbor Railway.

It constructed a road, extending from P. & E. Junction to Willapa, Wash., about 9 miles, during 1907 to 1910, and operated it to September 11, 1915, when the property was taken over by the Puget Sound & Willapa Harbor Railway.

The Pacific and Eastern Railway Company has guaranteed, in the event that 40 percent of the "gross earnings" of the Puget Sound & Willapa Harbor Railway for a 5-year period beginning April 1, 1916, do not exceed $750,000, to pay the deficiency. Further information is given under history of corporate financing in the report on the Puget Sound & Willapa Harbor Railway.

Olympia Southern Railway

No records of the Olympia Southern Railway Company were obtained. According to records of the Puget Sound & Willapa Harbor Railway, it was organized to take title to right of way in Lewis County, Wash., and to acquire the right to cross streets and construct tracks in the cities of Centralia and Chehalis, Wash. A portion of the right of way so acquired was owned and graded by another carrier, but abandoned before completion of construction.

The Puget Sound & Willapa Harbor Railway acquired the property, rights, and franchises of this company by deed dated September 16, 1913.

Olympia Terminal Railway

No records of the Olympia Terminal Railway Company were obtained. According to the records of the Puget Sound & Willapa Harbor Railway, it was organized to take title to right of way in Lewis County, Wash. The Puget Sound & Willapa Harbor Railway acquired the property, rights, and franchises of the Olympia Terminal Railway Company by deed dated August 12, 1913.