Wikipedia:WikiProject Trains/ICC valuations/Boston and Providence Railroad
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- BOSTON AND PROVIDENCE (MASS.)
- INTRODUCTORY
The Boston and Providence (Mass.) and the Boston and Providence (R. I.), while of record as distinct corporations, are in some ways treated as a single entity. Authority for the merger of the two exists; but the formalities of consolidation have not taken place. Reports to us are for single entity. When there is not a distinction made the single entity is referred to as the Boston and Providence.
- CORPORATE HISTORY
The following chart [...]
| No. | Name | Incorporation | Succession |
|---|---|---|---|
| 1 | Boston and Providence Railroad Corporation (Mass.). | In Massachusetts, June 22, 1831. | |
| 2 | Seekonk Branch Railroad Company. | In Massachusetts, Apr. 16, 1836. | Sold to 1, Aug. 9, 1839. |
| 3 | Stoughton Branch Railroad Company. | In Massachusetts, Mar. 16, 1844. | United with 1, Feb. 6, 1873. |
The Boston and Providence (Mass.) was incorporated under a special Massachusetts act approved June 22, 1831, and its organization was perfected July 11, 1831. In 1834 the Boston and Providence (Mass.) appointed a committee to make application to the Legislature of Rhode Island to enter that State and a charter for that purpose was obtained as the Boston and Providence Railroad Corporation (R. I.). The two companies were a part of one plan to establish a railroad between Boston and Providence. The Boston and Providence (Mass.), through lease agreements and by acquiring all of the capital stock of the Boston and Providence (R. I.), has had control of the property of that company since 1835. By special act of Rhode Island passed at its June session 1835, the Boston and Providence (Mass.) and Boston and Providence (R. I.) were authorized to unite and form one company, but this has not been done. The returns and reports to us have been made as for a single corporation.
- DEVELOPMENT OF FIXED PHYSICAL PROPERTY
The following tabulation shows the mileage [...]
- By purchase:
- From the Stoughton Branch Railroad Company on Feb. 6, 1873; constructed by that company, Canton Junction to Stoughton, Mass., 1873 3.94
- From the Seekonk Branch Railroad Company on Aug. 8, 1839; constructed by that company, Old Wharf Point branch, 1839 (0.379 mile abandoned)
- Total recorded mileage acquired 3.94
- By construction: Constructed by the Boston and Providence (Mass.):
- Boston to Back Bay, Mass., 1839 0.71
- Back Bay to Readville, Mass., 1834 9.32
- Readville to East Junction, Mass., 1835 24.61
- East Junction, Mass., to Rhode Island State line, via Pleasant View 1847 3.60
- East Providence, R. I. branch, 1835 2.00
- Readville to Dedham, Mass., 1835 2.11
- East Junction, Mass., to Rhode Island State line, via Rumford, 1835 3.00
- East Providence, R. I., to Massachusetts State line, 1835 2.60
- Forest Hills to Dedham, Mass., 1850 5.30
- Providence-Midland division connection, 1898 1.40
- Total mileage constructed 54.65
- Total owned mileage 58.59
- Difference between recorded mileage and mileage inventoried as of date of valuation 0.550
- Mileage inventoried as of date of valuation 58.040
- HISTORY OF CORPORATE FINANCING
- BOSTON AND PROVIDENCE (R. I.)
- INTRODUCTORY
By Rhode Island act of June 16, 1853, the Boston and Providence (R. I.) and the Boston and Providence (Mass.) were authorized to unite and form one corporation. To all intents and purposes, this was done, but the union had not been formally made, nor has the Commonwealth of Massachusetts authorized it. The Boston and Providence (R. I.) makes no report to us nor to the State of Rhode Island. The Boston and Providence (Mass.) includes the property of the Boston and Providence (R. I.) in its road and equipment account and makes no separation of the property, nor of the income therefrom, in its accounting records, and reports to us or to the Commonwealth of Massachusetts. The status of the Boston and Providence (R. I.) is that of a lessor company which has leased its whole property to the Boston and Providence (Mass.), which company, in turn, has assigned the lease to the Old Colony Railroad, which has assigned it to the carrier.
- CORPORATE HISTORY
The Boston and Providence (R. I.) is the successor to a single predecessor, named Boston and Providence Railroad and Transportation Company, which was incorporated by a special act of Rhode Island May 10, 1834. The Boston and Providence (R. I.) was incorporated by special act of Rhode Island June 16, 1853, under which the act of 1834 was amended to change the corporate name and to authorize a union with a Massachusetts corporation of the same name.
The Boston and Providence (Mass.) had been incorporated 1831, and authorized to construct a railroad from Boston, Mass., to the Rhode Island State line, and in May, 1834, appointed a committee to make application to the Legislature of Rhode Island to build into that State. The committee obtained a charter for that purpose, in the name of the Boston and Providence (R. I.). The two companies were a part of one plan to establish railroad communication between Boston, Mass., and Providence, R. I.
- DEVELOPMENT OF FIXED PHYSICAL PROPERTY
The East Providence property of the Boston and Providence (R. I.), including the bridge over the Seekonk River, was built by the company's own forces and opened for operation about August, 1835. The property from the State line to Providence, via Boston Switch, was constructed by the Providence and Worcester in 1847. The Boston and Providence (Mass.) reimbursed the Providence and Worcester for what it had expended in constructing the property from Massachusetts State line to Boston Switch, R. I., and for one-half the amount expended in constructing the remainder from Boston Switch to Providence, R. I. In 1853, at the request of the Boston and Providence (Mass.), the Providence and Worcester conveyed to the Boston and Providence (R. I.) all of the property from the State line to Boston Switch, and an undivided one-half interest in the remainder. The Boston and Providence (R. I.) wholly owns recorded road mileage as follows:
- Acquired by construction:
- East Providence, R. I., to property line of Boston and Providence (Mass.) 2.00
- Acquired by purchase from the Providence and Worcester, constructed by that company, Massachusetts State line to Boston Switch, R. I. .70
- Total recorded mileage 2.70
- Reduced by survey and remeasurement by 1.230
- Total owned on date of valuation 1.470
In addition, the Boston and Providence (R. I.) owns an undivided half interest jointly with the Providence and Worcester in the following:
- Boston Switch to Providence, R. I. 4.75
- Increased by survey and remeasurement .220
- Total jointly owned on the date of valuation 4.970
- HISTORY OF CORPORATE FINANCING