RAILROAD COMMISSIONERS' REPORT. STATE OF OREGON, OFFICE OF RAILROAD COMMISSION, SALEM, January 14, 1889. To the Honorable the Legislative Assembly of the State of Oregon: GENTLEMEN: The board of railroad commissioners of the State of Oregon respectfully submits its first biennial report in persuance of the requirements of section 10 of "an Act to create and establish a board of railroad commissioners, and to define and regulate its powers and duties, and to fix the compensation of its members," approved February 18, 1887. Which provided that "the board shall make a biennial report to the legislative assembly including such statements, facts and explanation as will disclose the actual workings of railroad transportation of freight and passengers and its bearings on the business prosperity, personal convenience and safety of the people of the State, with such suggestions in relation thereto as to its general railroad policy, or any part thereof, or the condition, affairs or conduct of any railroad corporation as to them may seem appropriate; and particularly what changes in the classification of freights or what changes in rates of freight or fares are advisable or necessary for the public welfare; also whether any railroad company or corporations make any discrimination in matter of freight between points intersected by competing lines and points not so intersected, and what change should be made in the laws to promote the interests of both railroads and the public." OF THE ROADS REPORTING AND THEIR BUSINESS. The corporations or companies which have made reports to the board since its organization, April 1, 1887, are as follows: Oregon Railway & Navigation Company. Oregon & California Railroad Company. Willamette Valley & Coast Railroad Company. The corporations reporting operate 1,212 84-100 miles of railroad within the State; of which 1,042 52-100 miles are of standard gauge, and 170 30-100 miles are narrow gauge. The whole mileage operated by these companies within and without the State is 4,129 91-100 miles. The total mileage of the several railroads reporting whose lines are partly or wholly within the State, is as follows: The mileage of the railroads in operation within the State is divided among the several corporations reporting, as follows: The capital stock of the several corporations reporting, are as follows: Oregon Railway and Navigation Company.. Oregon and California Railroad Company. Preferred, $12,000,000; Common, $7,000,000; total. Willamette Valley and Coast Railroad Company. Oregon Railway Company (Limited) Northern Pacific Railroad Company. Common, $19,000,000; Preferred, $37,786,199.17; total Oregon Short Line Railway Company Portland and Willamette Valley Railroad Company $ 24,000,000 00 19, 000, 000 00 3,900,000 00 1,643, 455 38 86,786,199 17 14,073,600 00 150,000 00 The capital stock represented by the roads in operation within the State of Oregon on the basis of mileage in the State, is as follows: Name of Railroad. Oregon Railway and Navigation Company. Oregon and California Railroad Company Willamette Valley and Coast Railroad Company. Oregonian Railway Company (Limited). Northern Pacific Railroad Company Oregon Short Line Railway Company Portland and Willamette Valley Railroad Company. Amount. $ 11,182, 070 38 19,000,000 09 3,900, 000 00 1,643, 455 38 1,540,992 34 393, 263 77 150,000 00 In the foregoing statement the capital stock of the Oregon Railway and Navigation Company invested in railway transportation is taken to be $18,000,000 instead of $24,000,000, for the reason that a considerable part of its capital stock has been absorbed in ocean steamers, river and sound steamboats and barges, and other property connected with an extensive system of water transportation. The exact amount of capital stock thus absorbed is not definitely known, but sufficient is known to warrant its being placed at $6,000,000. Hence that amount is deducted from the capital stock of said company in all statements and estimates bearing on the railway transportation business of said company. The funded indebtedness of the several corporations operating said roads in this State for the years ending June 30, 1887 and 1888, were as follows: |