Page:History of Willamette Railroad.djvu/15

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153
The Narrow Gauge Railroad

done: Restoration of the bridges across North Santiam and South Santiam; erection of a bridge between Ray's Landing and Fulquartz Landing; extension of thirty miles to a terminal outlet at Portland from Dundee; purchase of new rolling stock and renewals of ties and trestles. Receiver Scott set himself to the task of rebuilding the Santiam bridges, repairing the tracks and roadbed and buying new equipment, while William Reid undertook the work of building the connecting bridge across Willamette River and the extension to Portland. As the receiver could raise funds only by borrowing, he was authorized by the United States court to issue certificates of indebtedness amounting in all in the five years of his administration, to some $423,000.[1]

The Dundee-Portland extension was undertaken by the Portland and Willamette Valley Railway Company, incorporated January 19, 1885.[2] The widespread interest taken in the creation of this company throughout Willamette Valley is attested by the large number and the scattering of its incorporators, who were: W. S. Ladd, H. C. Leonard, R. B. Knapp, William Reid, Van B. DeLashrnutt, Aaron Meier, J. A. Chapman, Ira F. Powers (Sr.), John Schuerer, J. F. Coyne, C. E. Smith, William Gallick of Portland; A. R. Burbank, H. Hurley, J. H. Olds, W. D. Fenton, P. P. Gates, J. M. Kelty, R. P. Bird, R. R. Daniel, W. M. Townsend, J. W. Watts of Lafayette; L. Bently, T. S. Powell, A. W. Lucas, D. T. Stanley, Wm. Dawson, N. B. Gregg of Monmouth; Goodman Hubbard, Charles F. Johns, H. L. Deacon, Geo. W. Crystal, Wm. Grant, F. G. Richmond of Dallas; Peter Hume, J. M. Moyer, Oliver P. Coshow, W. R. Kirk, Thomas Kay, R. N. Thompson of Brownsville; A. Coolidge, R. C. Geer, L. C. Russell of Silverton; Robert Pentland, W. E. Price Jr., J. C. Johnson, R. F. Ashly, H. A. Johnson Jr., Frank J. Villa of Scio.[3]

The Portland and Willamette Valley Railway Company was capitalized at $150,000 capital stock and $400,000 bonds. Its

  1. Contracts for the Santiam bridges were let July 26, 1886; first authorization to borrow money granted by United States circuit court April 19, 1886.
  2. See The Oregonian, January 18, 1885.
  3. See The Oregonian, January 18, 1885.