Wikipedia:WikiProject Trains/ICC valuations/Union Passenger Depot Company of Galveston

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The Union Passenger Depot Company of Galveston, hereinafter called the carrier, owns and operates a union passenger terminal at Galveston, Tex. The owned property consists of depot and office buildings, with the necessary train sheds and tracks. The track mileage consists of 1.461 miles of yard tracks and sidings. On date of valuation the terminal facilities of the carrier were jointly used by the following carriers, hereinafter called the tenant companies:

  • Gulf, Colorado and Santa Fe Railway Company.
  • The Galveston, Harrisburg and San Antonio Railway Company.
  • The Missouri, Kansas & Texas Railway Company of Texas.
  • International and Great Northern Railway Company.
  • Galveston, Houston and Henderson Railroad Company.


The carrier was created at the instance of the Atchinson[sic], Topeka and Santa Fe Railway Company, by which it is controlled through ownership of the capital stock.


CORPORATE HISTORY

The carrier was incorporated by certain officers of the Gulf, Colorado and Santa Fe Railway Company under the laws of Texas on June 26, 1897, for a period of 50 years. Its stated purpose was to acquire and operate a union passenger depot in the city of Galveston, Tex.; in connection therewith to acquire, either by ownership or lease, and operate railroad tracks, which, however, were not to extend a greater distance than 0.75 mile from the union depot; to have additional stories to the depot building for rent for offices and other purposes, and to have on the property buildings for express purposes for rent to express companies.

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The acquisition of the depot grounds and construction of the four-story structure was commenced in 1890 in the name of George Sealy, trustee. The structure was completed in 1898 and from that date to July, 1912, no extensive changes were made. On the latter date the construction of the eight-story depot and office building, annex, baggage room, and storehouse was commenced. The office portion thereof was placed in service on June 1, 1914, and the depot facilities on July 1, 1914. The construction of the carrier's property was mainly accomplished by independent contractors.

HISTORY OF CORPORATE FINANCING
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