Wikipedia:WikiProject Trains/ICC valuations/Spokane International Railway

Interstate Commerce Commission, Valuation Reports, Volume 110

Location and General Description of Property
The railroad of the Spokane International Railway Company, hereinafter called the carrier, is a single-track standard-gauge steam-operated railroad, located in the eastern part of the State of Washington and northern part of the State of Idaho, extending northeasterly from Spokane, Wash., to the Canadian boundary line, near Eastport, Idaho, a distance of about 140 miles. In addition to its own property, the carrier also operates, under lease, the property of the Coeur d'Alene and Pend d'Oreille Railway Company. The following statement shows the mileage, classified according to use:

Corporate History
The carrier was incorporated and organized on January 18, 1905, under the general laws of the State of Washington, to construct and operate a railway running from Spokane, Wash., in a generally northeasterly direction through the State of Idaho to a connection with the line of the Canadian Pacific Railway Company at the Canadian boundary line. Other purposes of the corporation provided for the construction and operation of branch lines and of telegraph and telephone lines, for the manufacture and sale of electric current, for the ownership of mines, woodlands, and oil lands, and the sale of their products and, for building and operating steamboats and ferries on inland lakes and navigable streams. The detailed facts as to the development of fixed physical property are given in Appendix 2.

Development of Fixed Physical Property
The property of the carrier was built by D. C. Corbin under contract. Construction work began December, 1905; was completed and the road opened for operation November 1, 1906. The carrier subsequently made additions and betterments of yards and sidings, industry tracks, terminal and shop facilities, grade reductions, widened embankments, eliminated grade crossings, and purchased equipment. Eleven of its bridges have been filled, and of the spur tracks built 22 have been retired.

Leased Railway Property
The carrier leases for sole operation all of the property of the Coeur d’Alene and Pend d'Oreille Railway Company. The lease is dated January 2, 1911, and runs 50 years from July 1, 1910. Under the provisions of the lease the carrier retains all revenues from the operation of the property and pays operating expenses, including taxes and $27,200 per annum interest on $544,000 face value of the lessor's bonds. In addition thereto the carrier guarantees the payment of both principal and interest of the above-stated bonds. The carrier has made improvements to this leased railway property amounting to $39,209.15. In addition to the foregoing, the carrier, under the terms of a contract with the Oregon-Washington Railroad and Navigation Company, running for five years from September 15, 1914, uses jointly with the owner, 2.13 miles of single main track and 0.63 mile of sidetracks located in Spokane, Wash. The carrier pays $600 a month for the use of this property.

Under the terms of an agreement made October 25, 1915, with the Oregon-Washington Railroad and Navigation Company and the Chicago, Milwaukee & St. Paul Railway Company, joint owners of the property, the carrier uses approximately 2.4 miles of double track, 3.11 miles of sidings, and the union passenger station in Spokane, Wash. The carrier pays $500 a month for the use of this property, one-half to each joint owner. The agreement is terminable one year after notice by any party to the contract.