Arizona republican., 1913-06-19
COMMISSION
 GRANTS PRAYER
Fl Paso X Southwestern May Consolidate All Sub sldiary Roads into One
 Great System = Thought to Mean Early Extension

its subsidiary lines, to the Arizona
 corporation commission asking per
 mission to absorb and consolidate the
 entire holdings of the system into one
 large company under the laws of the State of Arizona which was filed
 some weeks back and upon which Chairman Geary and Attorney Gener- al Bullard made an inspection of the entire lines, was brought up again l before the commission yesterday and
 an order granting the amalgamation l was issued. Hereafter the line of railroad running from Tucson, Ari- zona, through Douglas to I1I PasO and thence northeast to Dawson, N. M i comprising in all d magnificent sys- 1 tenn of nearly 900 miles will be one
 splendid company known as the Fl | Paso and Southwestern system and 1 operating under the charter granted ! in the first place some years ago by | the State of Arizona. The Fl PasO 1 X Southwestern system is the largest Arizona railroad in operation.
 i The opinion recites in the follow I ing language. The hearing had with 1 reference to the matters and things
 alleged in the petition herein deveI- 1 ops that the Fl Paso x Southwestern railroad company deems it essential to consolidate and merge it's corporate properties and franchises to and with the corporate properties of the fol- lowing named and described railroad corporations, to-Wit:
 The Dawson Railway company, which owns and operates a railway from Dawson, N M to Tucumcari, NJ; the Fl Paso and Rock Island Railway company, which owns and op- crates a railway from santa Rosa to CarrizoZo in New Mexico; the Fl Paso and Northeastern Railway com pany, which owns and operates line of railroad from Carrizozo and Capitan N NJ to the boundary line between New Mexico and Texas; the AIamogordo and Sacramento Noun tain Railway company which owns and operates q line of railroad from Alamogordo to ClOudcroft and Russia. NJ. and the Burro Mountain Rail road company which owns d line of railroad now being constructed from near Tyrone to Whitewater, \. NJ
 After having heard all the testimony introduced herein and having caused an inspection to be made of the lines of railroad so proposing to consOli- date; this commission is of the op-
 nion and finds as follows:
 First-The petitioner, the Fl Paso l& Southwestern Railroad company. is Ia corporation duly organized under the laws of the State of Arizona, and owns and operates d main line of rail road from Tucson, Arizona, to point | on the boundary line between the | states of Texas and New Mexico inn | mediately west of the city of Fl Paso, 1 Texas, and owns and operates branch | lines of said main line, extending re spectfvely Us follows ,to-Wit: From | Douglas to Courtland. from Osborn 1 u Bisbee: from Lewis Springs to l Fort Huachuca, from Fairbanks to 1 Benson; from Benson to Tombstone; ] and from Corta to Lowell. all of the l last named points being situated in l the state of Arizona, and from Dem | ing N M to Hermanos, N- M. the | entire mileage of which is 45S33 | miles
 All of the said corporations men toned above as existing in New Mex | leo are organized under the laws of | New Mexico. and represent total | mileage of 44Q.44 miles. And it also | appearing that the amount of cOrpor- ate securities represented by the stock i and bonds of each of said corpora tions is in accordance with the fol- lowing table, to-Wit:
 "E r X \. l., bonds, $2,700,000, issued November l, 1897, mature Nov. l. 1947; at five per cent; outstand- ing stock. g., ,5oo,oOo
 A X $ M.. $372,ooO, bonds issued | April 1898, maturing 1928 at five per cent with outstanding stock $900,000.
 'E T.. X R 1. $2,5O0,000 bonds, Jan l. 1901, maturing Jan. l 1851, at five per cent. stock for the same amount.
 Dawson Ky. Co, $3,00O,OOO bonds same as above stock the same.
 ~E P & $. w. $5,o55.O00, Jan. 1, 1903 maturing Jan. l, 1923, with $14,- 0OG,0O0 of stock
 The opinion goes on to say that none of the lines are competing lines, and that the physical valuation as shown by the inspection of the roads in the two states is nearly the same, but that the New Mexico roads con duct d more expensive transportation business than do the Arizona roads; that the affairs of both systems are conducted under the same manage nent; and that it would be greatly 1 u the advantage of the projects of the joint system, the extensions and bcttermentS of the two companies, the 1 order is therefore granted provided that under no consideration shall the entire issue of the capital stock and bonded indebtedness Ol the cOnSoIl- dated company exceed without fur ther consent of the commission the total of the outstanding stock and bonded indebtedness of the separate organizations.
 The order and opinion is signed by all three of the commissioners. The whole thing is thought to mean an ultimate extension of the system to the coast through Phoenix.
 CREW IS DROWNED