Wikipedia:WikiProject Trains/ICC valuations/Tacoma Eastern Railroad

Interstate Commerce Commission, Valuation Reports, Volume 44

Location and General Description of Property
The railroad of the Tacoma Eastern Railroad Company, herein called the Tacoma Eastern, is a single-track, standard-gage, steam railroad, located in southwestern Washington. The main line extends southerly from Tacoma to Morton, 67.573 miles, with branch lines from Salsich Junction to McKenna, Kapowsin to Electron, Park Junction to Ashford, Tanwax Junction to Western Junction, and East Creek Junction to Ladd, aggregating 96.621 miles of first main track. The company also owns 34.357 miles of yard tracks and sidings, making 130.978 miles of all tracks.

Introductory
The Tacoma Eastern is a corporation of Washington, having its principal office at Tacoma, Wash. Its accounting records are maintained at Chicago, Ill. No accounting records were found for the period from date of its organization to January 1, 1900.

The Tacoma Eastern is controlled by the St. Paul through ownership of its capital stock. The records do not indicate that this company, itself, controls any common-carrier corporation.

The property was operated by its own organization from January 1, 1902, to December 31, 1917. Since January 1, 1918, the common-carrier property has been operated by the United States Railroad Administration.

Corporate History
The Tacoma Eastern was incorporated July 14, 1890, under the general laws of Washington. The date of its organization was July 15, 1890.

Development of Fixed Physical Property
The road owned, amounting to 96.621 miles, was all acquired by construction. The first 6 miles from Tacoma was constructed prior to 1893. Following that period construction work was suspended. Reconstruction of this 6 miles and building of 30 additional miles commenced in 1900 and was completed in 1902. Additional mileage was constructed at various times during the period from 1904 to 1912.

Leased Railway Property
The property of the Tacoma Eastern was taken over for operation by the United States Railroad Administration on January 1, 1918, and is so operated on date of valuation.

The arrangements with other carriers, in effect December 31, 1917, covering the use of joint facilities have been continued by the United States Railroad Administration during the period January 1, 1918, to date of valuation.

The description of the property, the period and terms of use and the rentals accrued and charged or credited to income for the year ending December 31, 1917, follows:

Property solely owned, but jointly used with the St. Paul: Tracks, 25.70 miles, from Tacoma to McKenna, Wash.; for a period of 10 years from August 8, 1910; rental on basis of 50 cents per train-mile and 25 cents per mile for light engines moved over the joint track, rental received $20,308.05; and yard track, 0.28 mile, at Tacoma, Wash.; for indefinite period from July 27, 1911; stipulated payment $1 per loaded car moved over the joint track, rental received $339.75.

Property jointly used, but not owned, owned by the St. Paul, passenger station and facilities appurtenant thereto at Tacoma, Wash., without formal contract; stipulated payment $100 per month. The amount of rental charged to income was not obtained.