Wikipedia:WikiProject Trains/ICC valuations/Nevada–California–Oregon Railway

From Wikipedia, the free encyclopedia
Jump to: navigation, search

http://books.google.com/books?id=YO1DAAAAIAAJ


The railroad operated by the Nevada–California–Oregon Railway, herein called the Nevada–California–Oregon, is a single-track, narrow-gage, steam railroad, located in the three States indicated by its name. The owned railroad is located in California and Oregon, and consists of a main line extending northerly from Hackstaff, Calif., to Lakeview, Oreg., a distance of 172.022 miles.

The Nevada–California–Oregon uses but does not own that portion of The Western Pacific Railroad Company's line extending from Reno, Nev., to Hackstaff, Calif., with a branch line in California extending from Plumas Junction to a point beyond Clio, aggregating 103.657 miles of road. A small portion of this line at Reno, Nev., contains an extra rail for the operation of standard-gage equipment. The Nevada–California–Oregon sold this 103.657 miles of road to The Western Pacific Railroad Company on June 11, 1917, but did not give possession until after date of valuation and was still operating it on date of valuation, as explained in appendix 2. Therefore, this property has been classified in this report as used but not owned by the Nevada–California–Oregon, leased from The Western Pacific Railroad Company.

The Nevada–California–Oregon wholly owns and uses 182.425 miles of all tracks and wholly uses but does not own 116.059 miles of all tracks. These tracks, consisting of main tracks and yard tracks and sidings, are classified in the trackage table in appendix 1.


CORPORATE HISTORY

The Nevada–California–Oregon was incorporated March 31, 1888, under the general laws of Nevada, for the stated purpose of acquiring and operating a railroad to extend from Reno, Nev., to a point near Goose Lake near the California-Oregon State line. [...]

No. Name Incorporation Succession
1. Nevada–California–Oregon Railway; incorporated under the general laws of Nevada, March 31, 1888.
2. Moran Brothers; an unincorporated banking firm of New York, N. Y.; railroad property only sold to 1, January 1, 1893.
3. Nevada and Oregon Railroad Company; incorporated under general laws of Nevada, April 25, 1881; sold after foreclosure to 2, November 21, 1884.
4. The Nevada and Oregon Railroad Company; incorporated under general laws of Nevada, June 5, 1880; succeeded by 3. No formal transfer, since no property had been acquired.
5. Western Nevada Railroad Company; incorporated under general laws of Nevada, December 12, 1879; succeeded by 4. No formal transfer, since no property had been acquired.
6. Sierra and Mohawk Railway Company; incorporated under general laws of Nevada, June 14, 1911. Sold to 1, January 1, 1915.
7. Sierra Valleys Railway Company; incorporated under general laws of California, January 4, 1895; sold after foreclosure to T. F. Dunaway, trustee for 1, January 3, 1909, and transferred by such trustee to 6, July 1, 1911.
8. Sierra Valley and Mohawk Railroad Company; incorporated under general laws of California, October 1, 1885; sold to 7, January 1895.
DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The owned mileage of the Nevada–California–Oregon, 172.022 miles, was acquired partly by purchase and partly by construction. Of the corporations that are comprised in the line of succession culminating in the Nevada–California–Oregon as at present constituted, the Western Nevada Railroad Company and The Nevada and Oregon Railroad Company did not construct any road or other common-carrier property. The recorded mileage owned by the Nevada–California–Oregon amounts to 172 miles, of which 161 miles were acquired by construction and 115 miles by purchase, a total of 276 miles. Of this total, 104 miles were sold to The Western Pacific Railroad Company. The inventoried mileage is 172.022. The 115 miles were acquired by purchase as follows: Moran Brothers, 79 miles, of which 31 miles were constructed by the Nevada and Oregon Railroad Company and 48 miles by Moran Brothers; Sierra and Mohawk Railway Company, 36 miles, of which 23 miles were constructed by the Sierra Valley and Mohawk Railroad Company, 7 miles constructed partly by the Sierra Valley and Mohawk Railroad Company and partly by the Sierra Valleys Railway Company, and 6 miles by the Sierra Valleys Railway Company. The 161 miles were constructed by the Nevada–California–Oregon. Further details are given in the accounting report.

HISTORY OF CORPORATE FINANCING