Portland Terminal Railroad Company PTRC #649
Nature of Firm
The PTRC performs industry switching for UP and BNSF at industries located at Guilds Lake Yard in northwest Portland, OR. UP and BNSF cover all operating and maintenance costs for the PTRC in return for their use in common. BNSF assumed the accounting functions on behalf of PTRC and bills the UP for their portion of costs each month. Each Class I railroad handles their own demurrage and car hire. UP and BNSF equipment are considered home on the PTRC.
The Northern Pacific Terminal Company was established in 1882. Ownership was split Oregon & California —20%, and the Northern Pacific and Oregon Railroad & Navigation Company — 40% each. On November 1, 1965, the company was renamed Portland Terminal Railroad Company. The company is jointly owned by UP and BNSF. Under an Operating Agreement between PTRC, BNSF and UP, the two Class I railroads have use in common with PTRC at its Guilds Lake Yard.