Wikipedia:WikiProject Trains/ICC valuations/El Paso and Southwestern Railroad of Texas

Interstate Commerce Commission, Valuation Reports, Volume 45

The El Paso & Southwestern Railroad of Texas

Location and General Description of Property

The railroad of The El Paso & Southwestern Railroad Company of Texas, herein called the El Paso & Southwestern of Texas, is a standard-gage, steam railroad, located in western Texas. The main line extends westerly from El Paso to the Rio Grande at the Texas-New Mexico State line, a distance of 4.685 miles. The company also owns 1.039 miles of second main track and 22.794 miles of yard tracks and sidings. Its road thus embraces 28.518 miles of all tracks owned and used. The El Paso & Southwestern of Texas forms a part of the El Paso and Southwestern system. Its line is an important link in a through route extending from Dawson, N. Mex., via El Paso, Tex., to Tucson, Ariz.

Introductory

The El Paso & Southwestern of Texas is a corporation of Texas, having its principal office in El Paso, Tex. It is controlled by the El Paso & Southwestern Railroad Company, which owns all of its outstanding capital stock. The latter company is in turn controlled by the El Paso and Southwestern Company. On the other hand, the El Paso & Southwestern of Texas jointly controls, with five other carriers, the El Paso Union Passenger Depot Company, which operates its own property.

The El Paso & Southwestern of Texas has operated its property since March 1, 1903, when it was placed in operation. In connection with the operations, it has been ascertained that the El Paso and Southwestern Company has acted as fiscal agent for the El Paso & Southwestern of Texas since April 1, 1908, making all collections and disbursements for, and periodically crediting or charging such items in an open account to, the El Paso & Southwestern of Texas.

Corporate History

The El Paso & Southwestern of Texas was incorporated under the general laws of Texas, the articles of incorporation being filed with the secretary of state on July 12, 1902. The purpose of incorporation was to construct, acquire, maintain, and operate a railroad in El Paso and in El Paso County, in Texas. The date of organization was November 21, 1902.

The El Paso & Southwestern of Texas was incorporated by the same interests which also caused the incorporations of the El Paso and Southwestern Company, the El Paso & Southwestern Railroad Company, and the El Paso Terminal Railroad Company. The El Paso and Southwestern Company acted as a construction company for the other companies named, and has directly or indirectly controlled the El Paso & Southwestern of Texas from the date of its incorporation to date of valuation.

The El Paso Terminal Railroad Company, which was incorporated April 4, 1901, under the general laws of Texas, sold its property to the El Paso & Southwestern of Texas on February 9, 1903.

Development of Fixed Physical Property

The El Paso & Southwestern of Texas acquired 4.686 miles of main line, about 7 miles of other tracks, and certain station facilities on February 9, 1903, when it purchased the property, rights, and franchises, except the right to be a corporation, of the El Paso Terminal Railroad Company. The vendor company had constructed the property in 1902 and 1903. Construction work on the mileage named above and on certain of the station facilities had been completed at the date of purchase, and such property was placed in operation by the El Paso & Southwestern of Texas on March 1, 1903.

Additions and betterments to the property, including the construction of about 15 miles of additional yard tracks and spur tracks, have been made by the El Paso and Southwestern Company for account of the El Paso & Southwestern of Texas.

Leased Railway Property

The El Paso & Southwestern of Texas on date of valuation uses property owned by other companies, and other companies use property owned by the El Paso & Southwestern of Texas. The description of the property, the period and terms of use, and the rentals accrued and charged to income for the year ending on date of valuation follow. Solely owned but leased to various non-carrier concerns, lands and buildings, stipulated rental, $5,449.83. Jointly used but owned by El Paso Union Passenger Depot Company, passenger depot and station facilities at El Paso, Tex., used jointly with four other tenant companies, maintained by the owner; agreement dated May 21, 1904, and running until canceled by either party; operating expenses divided on car basis; payments for bond interest, matured bonds, additions and betterments, taxes, and assessments shared equally by using companies; stipulated rental, $1,850. Rio Grande, El Paso & Santa Fe Railroad Company, bonded warehouse with tracks, platform, etc., used jointly with the owner and three other companies; agreement dated August 1, 1907, and running until canceled by either party; maintenance and operating expenses on monthly tonnage basis; payments for insurance, taxes, and 7 percent rental proportioned among using companies (The El Paso and Northeastern Railroad Company and the El Paso & Southwestern of Texas jointly paying one share); stipulated rental $274.55.