Wikipedia:WikiProject Trains/ICC valuations/El Paso and Northeastern Railway

Interstate Commerce Commission, Valuation Reports, Volume 45

The El Paso and Northeastern Railway

Location and General Description of Property

The railroad of the El Paso and Northeastern Railway Company, hereinafter called the El Paso and Northeastern Railway, consists of a section of main line extending from Carrizozo to the New Mexico-Texas State line, 124.833 miles, and branch lines from Orogrande to Zora and from Carrizozo to Capitan, aggregating 150.826 miles of main and branch lines.

Introductory

The El Paso and Northeastern Railway is a corporation of the State of New Mexico, having its principal office at Alamogordo, N. Mex. The El Paso and Northeastern Railway is controlled by the El Paso and Northeastern Company through ownership of its outstanding capital stock. The El Paso and Northeastern Company is solely controlled by the El Paso and Southwestern Company through stock ownership. On the other hand, the records reviewed do not indicate that this company controls any common-carrier corporation. The property of the El Paso and Northeastern Railway was operated by its own organization from January 1, 1899, the date of completion of its first section, to March 31, 1908, and since April 1, 1908, it has been operated under lease by the El Paso and Southwestern.

Corporate History

The El Paso and Northeastern Railway was incorporated October 21, 1897, under the general laws of the then Territory of New Mexico, for the purpose of constructing and operating a railroad within the State of New Mexico. The date of its organization was October 21, 1897.

Development of Fixed Physical Property

The owned mileage, 150.826 miles, was all acquired by construction. Approximately 149.686 miles were constructed under contract by the El Paso and Northeastern Company and 1.140 miles by the El Paso and Southwestern. The years when the various portions of the line were constructed are as follows: Texas-New Mexico State line to Jarilla, N. Mex., 1897 to January 1, 1899, 106.660 miles; Jarilla to Capitan, N. Mex., July to September 1899, 41.750 miles; Capitan to North Capitan, N. Mex., June 1901, 1.120 miles; Jarilla to Zora, N. Mex., 1916, 1.140 miles; increase due to remeasurement, 1913, 0.130 mile; total recorded mileage, 150.800 miles. The difference between recorded mileage and mileage inventoried as of date of valuation is 0.026 mile.

Leased Railway Property

The entire property of the El Paso and Northeastern Railway was leased for sole operation to the El Paso and Southwestern under a lease agreement dated May 1, 1908, effective April 1, 1908, for an indefinite period, the annual rental being $189,000. The rental received for the year ended June 30, 1917, was $189,000.