Wikipedia:WikiProject Trains/ICC valuations/Valley and Siletz Railroad

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The railroad of the Valley and Siletz Railroad Company, hereinafter called the carrier, is a single-track, standard-gage, steam railroad, located in the northwest section of the State of Oregon. The main line extends southwesterly from Independence to Hoskins, thence northwesterly to Valsetz, a distance of 40.600 miles. The carrier also owns 6.087 miles of yard tracks and sidings. Its road thus embraces 46.687 miles of all tracks, owned and used. This is an industrial railroad controlled by the William W. Mitchell Company of Cadillac, Mich., which company is closely affiliated with the Cobbs Mitchell Lumber Company owners of a large sawmill at Valsetz, Oreg., served by the carrier.

CORPORATE HISTORY

The carrier was incorporated January 20, 1912, under the general laws of Oregon, to construct and operate a railroad from a point near Independence, Polk County, to Newport, Lincoln County, all in Oregon. The date of its organization was January 30, 1912.

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The road, all owned, was acquired by construction, except about 2 miles, which was acquired by purchase. The section from Independence to milepost 37, comprising 37.3 miles, was constructed by company forces during the period from July 1912, to December 31, 1917. The section from milepost 37 to Valsetz, 2.1 miles, was purchased from Siletz Lumber and Logging Company May 29, 1920. At Independence a connecting track of 1.2 miles to the tracks of the Southern Pacific Railway Company, was constructed between September 21, 1923, and September 15. 1924, under authority of the Interstate Commerce Commission, dated March 19, 1924, (86 I.C.C. 563). The property was placed in operation January 1, 1918.

HISTORY OF CORPORATE FINANCING