Wikipedia:WikiProject Trains/ICC valuations/El Paso and Rock Island Railway
Interstate Commerce Commission, Valuation Reports, Volume 45
El Paso and Rock Island Railway
[edit]Location and General Description of Property
[edit]The railroad of the El Paso and Rock Island Railway Company, hereinafter called the El Paso and Rock Island, extends from Santa Rosa to Carrizozo, 127.493 miles.
Introductory
[edit]The El Paso and Rock Island is a corporation of New Mexico, having its principal office at Alamogordo, N. Mex. The El Paso and Rock Island is controlled by the El Paso and Northeastern Company through ownership of its outstanding capital stock. It is indirectly controlled by the El Paso and Southwestern through ownership of the capital stock of the El Paso and Northeastern Company. On the other hand, the records reviewed do not indicate that this company controls any common-carrier corporation. The property of the El Paso and Rock Island was operated by its own organization from the date of completion of its first section to March 31, 1908, and since April 1, 1908, it has been operated under lease by the El Paso and Southwestern.
Corporate History
[edit]The El Paso and Rock Island was incorporated December 11, 1900, under the general laws of the then Territory of New Mexico, for the purpose of building and operating a railroad within the State of New Mexico. The date of its organization was December 12, 1900.
Development of Fixed Physical Property
[edit]The railroad owned by the El Paso and Rock Island extending from Carrizozo to Santa Rosa, N. Mex., 127.493 miles, was constructed by the El Paso and Northeastern Company under contract between January 1901 and April 1903. One section was completed and opened for operation February 1, 1902. The entire railroad was completed and turned over to the El Paso and Rock Island for operation on April 1, 1903.
Additions and betterments were made by the El Paso and Northeastern Company prior to July 1905 and by the El Paso and Southwestern for account of the El Paso and Rock Island since July 1905.
The additions and betterments made since July 1905 include extensive improvements in connection with bridging, ballasting, increasing the weight of rail, and constructing new shop and other facilities. In addition a water system known as the "Bonita Water Supply" has been constructed for the purpose of supplying water for all the El Paso and Southwestern system lines north of El Paso, Tex. Lands and water rights in the White Mountains, approximately 25 to 40 miles east of Carrizozo, N. Mex., were acquired, and a system of reservoirs, pipe lines, buildings, and other facilities were constructed.
Leased Railway Property
[edit]The entire railway property of the El Paso and Rock Island was leased for sole operation to the El Paso and Southwestern under agreement dated May 1, 1908, effective April 1, 1908, and was so operated on the date of valuation. The lease runs until terminated by either party to the agreement. The annual rental was named at $164,672, but was increased effective July 1, 1909, to $166,000, and effective July 1, 1913, to $168,600. The rental received for the year ended June 30, 1917, was $168,600.