Wikipedia:WikiProject Trains/ICC valuations/Dawson Railway

Interstate Commerce Commission, Valuation Reports, Volume 45

Location and General Description of Property
The railroad of the Dawson Railway Company, hereinafter called the Dawson Railway, extends from Dawson to Tucumcari, 131.948 miles.

Introductory
The Dawson Railway is a corporation of New Mexico, having its principal office at Alamogordo, N. Mex. It is controlled by the Dawson Railway and Coal Company through ownership of its capital stock. The latter company is indirectly controlled by the El Paso and Southwestern through ownership of the capital stock of the El Paso and Northeastern Company which owns the capital stock of the Dawson Railway and Coal Company. On the other hand, the records reviewed do not indicate that this company controls any common-carrier corporation. The property of the Dawson Railway was operated by its own organization from July 1, 1903, to March 31, 1908, and since April 1, 1908, it has been operated under lease by the El Paso and Southwestern.

Corporate History
The Dawson Railway was incorporated July 13, 1901, under the general laws of the then Territory of New Mexico, its purpose being to build, equip, maintain, and operate a railroad within the State of New Mexico. The date of its organization was July 31, 1901.

Development of Fixed Physical Property
The owned mileage of the Dawson Railway, extending from Dawson to Tucumcari, N. Mex., 131.948 miles, was constructed for it under contract with the Dawson Railway and Coal Company. The records reviewed indicate the construction was performed by the El Paso and Northeastern Company subcontractor, during the period August 1901 to June 30, 1903. A change in the line in 1906 reduced the original mileage by 1.230 miles.

Leased Railway Property
The entire railway property of the Dawson Railway was leased for sole operation to the El Paso and Southwestern for an indefinite period under a lease agreement dated May 1, 1908, effective April 1, 1908, and was so operated on the date of valuation, the annual rental being $170,300. The rental received for the year ended June 30, 1917, was $170,300.