Wikipedia:WikiProject Trains/ICC valuations/Sumpter Valley Railway

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The railroad of Sumpter Valley Railway Company, herein called the carrier, is a single-track narrow-gauge, steam railroad, located in the eastern part of Oregon. The owned mileage extends westerly from Baker City to Prairie, 79.478 miles. The carrier also owns yard and side tracks totaling 15.673 miles. Its road thus embraces 95.151 miles of all tracks owned. In Appendix 1 will be found further description of this property.

Corporate history.—The carrier was incorporated on August 18, 1890, under the general laws of the State of Oregon for a period of 50 years. Organization was perfected on August 20, 1890, at the first meeting the stockholders held after the articles were filed. The incorporators were five in number, who were identified with the Oregon Lumber Company.

The stated purpose of the carrier was to construct and operate a line of railroad from Baker City to Sumpter Valley, Oreg. On July 27, 1900, amended articles of incorporation were filed, which changed the term of existence to perpetuity and made an increase in the capital stock. Provision was also made to continue the line to Burns or some suitable point in Harney County, Oreg. On July 5, 1907, an amendment was filed which made a reduction in the amount of the capital stock. The principal office of the carrier is at Baker City. The Oregon Lumber Company exercises control of the carrier through stockholders interested in both companies. The detailed facts as to the development of the fixed physical property are given in Appendix 2.

History of corporate financing, capital stock, and long-term debt.—

APPENDIX 2

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The road was constructed in successive sections from the point of origin in Baker City, Oreg., to the present terminus at Prairie, Oreg., during a period of about 21 years. While the carrier made direct agreements with individuals for a small part of the work on different sections, the road as a whole was built by the Oregon Lumber Company by its own forces, or by subcontractors under its supervision. The limits and extent of the successive sections, together with the dates of construction, are given in the following table, made from data furnished by the carrier: