Wikipedia:WikiProject Trains/ICC valuations/San Rafael and San Quentin Railroad

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The railroad of the San Rafael and San Quentin Rail Road Company, hereinafter called the San Rafael and San Quentin, which is leased to and operated by the Northwestern Pacific, is a single-track, standard-gage line, located entirely within the State of California and extending from a connection with the line of the Northwestern Pacific at Schuetzen, near San Rafael, to Point San Quentin, 2.102 miles.

The property of the San Rafael and San Quentin was operated by its own organization from March 1871 to March 1875. On March 12, 1875, the property was leased to the North Pacific Coast Railroad Company for sole operation for a period of 43 years. Upon the succession of the North Shore Railroad Company to the properties of the North Pacific Coast Railroad Company the lease was transferred to the former and during the period of operation by that company the mileage was decreased 0.22 of a mile by the abandonment of a portion of the line at San Quentin.

On January 8, 1907, the Northwestern Pacific succeeded to the lease through the consolidation of the North Shore Railroad Company and six others.

CORPORATE HISTORY

The San Rafael and San Quentin was incorporated February 25, 1869, under the general laws of California, for a period of 50 years. Its purpose and date of organization was not disclosed in the records reviewed.

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The owned milege of the San Rafael and San Quentin, 2.102 miles, was all acquired by construction. In 1871 the company built a standard-gage line of railroad from Point San Quentin to San Rafael, 3.48 miles. During the lease of the property to the North Pacific Coast Railroad Company the gage was changed from standard to narrow. After the succession of the Northwestern Pacific to the lease the gage was changed back to standard. As hereinbefore stated, the mileage was reduced 0.22 of a mile through abandonment of a portion of the line. The reason for the difference between the remaining mileage reported as constructed and that inventoried by us has not been determined.

HISTORY OF CORPORATE FINANCING