Wikipedia:WikiProject Trains/ICC valuations/United Railways (Oregon)

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The railroad of the United Railways Company (Oregon), hereinafter called the carrier, is a single-track, standard-gage railroad, located in the northwestern corner of the State of Oregon. The main line extends northwesterly from Linnton, near Portland, to Keasey, a distance of 51.231 miles, together with 7.464 miles in Portland, aggregating 58.695 miles. The carrier also owns 14.230 miles of yard tracks and sidings. Its owned and used road thus embraces 72.925 miles of all tracks.

In addition to above, the carrier owns 1.065 miles of main track and 0.024 mile of yard tracks and sidings at Portland, which it leases to the Spokane, Portland and Seattle Railway Company. It also owns but does not use certain equipment which is leased to the Oregon Electric Railway Company. On the other hand, the carrier leases 0.898 mile of main track and 0.993 mile of yard tracks and sidings between River Junction and Rafton, owned by the Nehalem Boom Company.

The tracks in the city of Portland are electrically operated by the Oregon Electric Railway Company as agent for the carrier. The remainder of the road is steam operated.

The carrier is controlled by the Spokane, Portland and Seattle Railway Company and forms an important link in the latter's system.

The property of the carrier has always been operated by its own organization except during the periods from July 1, 1920, to October 31, 1921, when 18.646 miles extending from Linnton to Wilkesboro, and from April 1, 1923, to December 31, 1923, when 32.585 miles extending from Wilkesboro to Columbia-Clatsop County boundary, were operated by the Portland, Astoria & Pacific Railroad Company. Its electric lines in the city of Portland have been operated since July 1915 by the Oregon Electric Railway Company as agent.

CORPORATE HISTORY

The carrier was incorporated January 17, 1906, under the laws of Oregon, for the purpose of acquiring, operating, and disposing of steam and electric railroads, street railways, telegraph and telephone lines and power lines in the State of Oregon. The date of its organization was February 2, 1906.

Pursuant to the above purpose, carrier acquired the properties of the Oregon Traction Company, March 23, 1906, and of the Portland, Astoria & Pacific Railroad Company, December 5, 1921.

The Oregon Traction Company was incorporated November 20, 1903, under laws of Oregon, and the Portland, Astoria & Pacific Railroad Company was incorporated July 29, 1919, under laws of Delaware.

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The owned mileage of the carrier, 59.760 miles, was acquired partly by purchase and partly by construction, indicated as follows: Acquired by construction: Constructed by carrier, Portland to Wilkesboro, Oreg., March 1907, to April 1911, 30.036 miles, less mileage retired, Linnton to Beatty, Oreg., in 1915, 3.550 miles. Total acquired by construction 26.486 miles. Acquired by purchase: From Oregon Traction Company, March 23, 1906; constructed by that company, certain tracks in streets of Portland, Oreg., on which construction had begun 0.689 mile; from Portland, Astoria & Pacific Railroad Company, December 5, 1921; constructed by that company and completed by carrier, March 31, 1923, Wilkesboro to Columbia-Clatsop County line 32.585 miles. Total acquired by purchase 33.274 miles. Grand total 59.760 miles.

HISTORY OF CORPORATE FINANCING