Wikipedia:WikiProject Trains/ICC valuations/Spokane, Portland and Seattle Railway

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The railroad operated by the Spokane, Portland and Seattle Railway Company, herein called the carrier, is a standard-gage, steam railroad, located in Washington and Oregon. The railroad is single track with the exception of a small amount of second main track in the vicinity of the Vancouver terminals.

The railroad wholly owned by the carrier consists of disconnected sections of road extending from Fort Wright Junction to Pasco, Wash.; Kennewick to Vancouver, Wash.; and Goble to Holladay, Oreg.; with branch lines projecting from Lyle to Goldendale, Wash.; Marshall to Marshall Junction, Wash.; and Warrenton to Fort Stevens, Oreg.; together with terminal facilities at Vancouver, Wash., and Portland, Oreg., aggregating 493.956 miles of first main track. The company also jointly owns and uses with another carrier that portion of its road between Vancouver, Wash., and Willbridge, Oreg., a distance of 5.322 miles, including important double track steel bridges over the Columbia and Willamette Rivers.

In addition to its owned mileage, the carrier leases that portion of the road owned by the Northern Pacific Railway Company between Willbridge and Goble, Oreg., 35.291 miles, and uses under trackage rights about 22 miles of the road of other carriers, part of which serves as a connecting link in the main line and part affords access to terminals at Spokane, Wash., and Portland, Oreg. The lines thus operated form continuous main lines from Spokane, Wash., to Portland, Oreg., and from Portland to Holladay, Oreg. The principal cities served by this road are Pasco, Spokane, and Vancouver, Wash., and Astoria and Portland, Oreg.

The carrier wholly owns and uses 629.132 miles of all tracks, jointly owns and uses with other carriers 14.731 undivided miles of all tracks, and wholly uses but does not own 42.359 miles of all tracks. These tracks, consisting of first and second main tracks and yard tracks and sidings, are classified in the trackage table in Appendix 1.

The carrier is a corporation of the State of Washington, having its principal office at Vancouver, Wash., and its general and administrative office at Portland, Oreg. The carrier was originally incorporated as the Portland and Seattle Railway Company, which was later changed to the present name of Spokane, Portland and Seattle Railway Company.
 * APPENDIX 2
 * THE CARRIER
 * INTRODUCTORY

The carrier was incorporated August 23, 1905, under the general laws of the State of Washington as the Portland and Seattle Railway Railway Company [...] 11 different corporations, of which four, including the carrier, underwent a change or changes of name, [...]
 * CORPORATE HISTORY

The road wholly owned by the carrier, amounting to 493.956 miles, was acquired partly by purchase and partly by construction. [...]
 * DEVELOPMENT OF FIXED PHYSICAL PROPERTY

Acquired by construction:
 * Vancouver to Kennewick, Wash., 1905-1908 219.81
 * Pasco to Marshall, Wash., 1906-1909 137.80
 * Marshall to Fort Wright, Wash., 1906-1910 9.67
 * At Portland, Oreg., 1907 1.24

Acquired by purchase:
 * From the Columbia River & Northern Railway Company, Mar. 30, 1908, constructed by that company, Lyle to Goldendale, Wash., 1902-1903 42.25
 * From the Astoria and Columbia River Railroad Company, Feb. 24, 1911—
 * Constructed by that company—
 * Astoria to Goble, Oreg., 1895-1898 60.15
 * Astoria to Youngs Bay, Oreg., 1895-1896 2.76
 * Warrenton to Flavel, Oreg., 1895-1896 1.70
 * Flavel to Fort Stevens, Oreg., 1895-1899 1.80
 * Seaside to Holladay, Oreg., 1907 1.00
 * Constructed by The Astoria and South Coast Railway Company, Youngs Bay to Seaside, Oreg., 1890-1891 15.54
 * 82.95
 * Total 493.72
 * Difference between total recorded mileage and mileage inventoried as of date of valuation 0.236
 * Mileage inventoried as of date of valuation 493.966

In addition, the carrier owns an undivided two-thirds interest in 5.322 miles of double main track between Vancouver, Wash., and Willbridge, Oreg., including double-track bridges over the Willamette and Columbia Rivers, the remaining one-third interest being owned by the Northern Pacific Railway Company.

The greater part of construction of the line from Vancouver to Kennewick and from Pasco to Marshall was performed under the provisions of contracts with the firm of Siems & Shields. This firm, according to the records reviewed, did no actual construction, but executed agreements with other contractors and acted generally as overseers and superintendents of the work. They were not identified as affiliated with the company.

In connection with the construction of the line northeast from Pasco, Wash., there was constructed a branch of about 41 miles extending from Snake River Junction to Texas Ferry (Riparia), Wash. Such branch line when completed was sold to the Clearwater Short Line Railway Company, an affiliated company of the Northern Pacific Railway Company. It was never operated by the carrier.

In the construction of its line eastward from Vancouver, Wash., the carrier acquired the uncompleted road of The Columbia Railway and Navigation Company, consisting of about 9 miles of lightly constructed road on a located line of about 230 miles. Such road had never been operated by that company. Only parts of the 9 miles of road were incorporated in the line of the carrier, and as these were entirely reconstructed the mileage is considered as right of way acquired and is not included in the mileage of road purchased.

The carrier acquired certain right of way and grade for a proposed line between Kalama and Tacoma, Wash., from the Northwestern Improvement Company, and which had been formerly owned by the Portland and Puget Sound Railroad Company. Construction of this line was begun but was abandoned in 1907.


 * HISTORY OF CORPORATE FINANCING