Wikipedia:WikiProject Trains/ICC valuations/San Pedro, Los Angeles and Salt Lake Railroad

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Corporate history.—The carrier was incorporated under the general laws of the State of Utah on March 20, 1901, for a period of 100 years. It has purchased and now operates certain properties which were constructed by other companies, and has constructed lines of its own. The history of such other companies will be found in Appendix 2.


Upon taking over the title In the property the carrier gave its note to the Caliente & Pioche for $550000, due July 1, 1909, and bearing interest at 6 per


HISTORIES OF PRIOR OWNING COMPANIES

The Los Angeles Terminal Railway Company.—This company was organized January 2, 1891, under the general laws of California for the purposes of consolidating the Los Angeles & Glendale Railway Company, the Los Angeles, Pasadena & Glendale Railway Company, and the original Terminal Company. These roads owned lines aggregating 16.40 miles.


The Los Angeles & Glendale Railroad Company.—This company was incorporated under the general laws of California January 13, 1887, for the purpose of constructing a railroad from Los Angeles to Glendale, Calif. Its charter was amended October 8, 1888, under the name of the Los Angeles & Glendale Railway Company. It built 6.50 miles of road through John Cross as contractor. The cost to him is not known, but the company voted him $75,000 par value in stock. Additional stock to the par value of $25,000 was subscribed for, and at least 10 per cent of par value thereof was paid into the corporation. All the stock issued was later reacquired and issued to the Los Angeles, Pasadena & Glendale Railway Company in exchange for $100,000 par value of the stock of that company.

The line was opened for operation in March, 1888, but no accounts are in existence from which the gross and net earnings can be determined.

The Los Angeles, Pasadena & Glendale Railway Company.—This company was incorporated March 30, 1889, under the general laws of California. It constructed 6.4 miles of standard-gauge railroad between Los Angeles and Pasadena, and 1.8 miles of narrow-gauge line between Glendale and Verdugo Park. A third rail was also laid on a part of the standard-gauge line. The cost of construction can not be satisfactorily ascertained. The company issued $100,000 par value of stock in exchange for stock of the Los Angeles & Glendale Railway Company, and $100,000 additional for $22,000 cash and for organization expenses the amount of which does not appear. It issued also $200,000 par value of bonds [...] of this between road, equipment, general expenditures, and other purposes has been already set out in the history of the Terminal Company. The remainder represents the par [...] total operating loss of $8,187.87.

The original Los Angeles Terminal Railway Company.—The Los Angeles Terminal Railway Company, Incorporated August 29, 1890, under the general laws of California, called herein the original Terminal Company, commenced but did not complete the construction of 1.70 miles of railroad within the city of Los Angeles. It issued stock to the par value of $150,000. From the books of the Los Angeles, Pasadena & Glendale it appears that the latter company advanced to the original Terminal Company $156,683.91 for construction and other purposes. Upon the consolidation before referred to the Terminal Company exchanged $150,000 of its stock for the same amount of stock of the original Terminal Company then outstanding.

The Los Angeles & Pasadena Railway Company, and the Los Angeles & Raymond Railway Company.—The first of these companies was incorporated June 27, 1884, and the second April 14, 1887, both under the general laws of California, Neither constructed any mileage and neither apparently issued any stock or bonds. Aside from the receipts referred to and quoted in the history of the Terminal Company there is no evidence in any records that have been found of expenditures by or for either company for property.

The Pasadena Railway Company.—This company was incorporated March 3, 1887, under the general laws of California. It constructed a line from Pasadena to Altadena, 7.21 miles long. The securities which it issued, the cost of constructing its line, the gross and net earnings resulting from operation, and the other financial facts


The New East Tintic Railway Company.—This company was incorporated May 22, 1896, under the general laws of Utah. It had an authorized capital of $50,000, all of which was subscribed for, but only $5,000 was ever paid into the treasury upon the subscriptions. The line of the company runs from Mammoth station, Utah, to Mammoth mine, Utah. It was constructed in 1896 and 1897 by J. A. Cunningham, who advanced the required funds and controlled the road until 1900. According to the records of the New East Tintic and the Short Line, the expenditures for construction to July 7, 1903, amounted to $31,285.71. This, however, did not include interest nor Cunningham's salary. The road proved profitable, and when Cunningham sold in 1900 he had received from it, in excess of all his advances of principal, [...]

Prior to July 7, 1903, the Short Line acquired all of the capital stock, and on that date assigned the same to the carrier. From January, 1899, to July 7, 1903, the gross earnings (railway operating revenues) were [...]


The Utah & Pacific Railroad Company.—This company was incorporated August 20, 1898, under the general laws of the State of Utah, with authority to issue $825,000 of capital stock, and to construct a road from Milford, Utah, to the Utah-Nevada State line. The incorporators were David Eccles, C. W. Nibley, A. W. McCune, and Wm. L. Hoge. All of the capital stock was issued to them, and they paid into the corporation therefor $144,500 in cash. The road was completed in 1899. Who built it and the cost can not be determined with certainty. The roadbed used had been begun and practically completed in the years 1889 to 1892, both inclusive, by the Oregon Short Line & Utah Northern Railway Company. As nearly as can be learned from the records of that company and of the Short Line and the Utah & Pacific, the construction cost to July 7, 1903, amounted to $711,328.05.


The Utah, Nevada & California Railroad Company.—This company was incorporated under the general laws of Nevada, February 2, 1899, with an authorized capital stock of


The Caliene[sic] & Pioche Railroad Company.—This company was incorporated June 8, 1906, under the general laws of the State of Utah, with authority to construct a railroad from Caliente to Pioche, Nev.,




[Full? list of companies:

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