Wikipedia:WikiProject Trains/ICC valuations/Franklin and Tilton Railroad

Interstate Commerce Commission, Valuation Reports, Volume 30

Franklin and Tilton Railroad

Introductory

The railroad of Franklin and Tilton Railroad, herein referred to as the Franklin and Tilton, is a single-track, standard-gage, steam railroad, situated entirely within the State of New Hampshire, and extending from Tilton to Franklin Junction, 4.957 miles. The Franklin and Tilton also owns 2.968 miles of yard tracks and sidings, or a total of 7.925 miles of all tracks. This property is operated by the carrier as a lessee through the Concord & Montreal.

Corporate History

The Franklin and Tilton was incorporated, under a special act of New Hampshire of July 30, 1889, for the purpose of constructing and operating a railroad from Tilton, N. H., to some point on the Northern Railroad in the town of Franklin, N. H. It is controlled by the Concord & Montreal and the Northern Railroad, each of which owns one-half of the outstanding capital stock. Its principal office is at Franklin, N. H.

The property was constructed under contract. Construction was was begun in about April, 1890, and completed on June 27, 1892.

Leased Railway Property

The property of the Franklin and Tilton is leased to the Concord & Montreal under a 91-year lease dating from April 1, 1895, and is operated by the carrier under its lease of the Montreal's property. The total annual rental is $1 and actual organization expenses These amounts are not taken up in the accounts of the lessor. The lessee is obligated to maintain the property and pay all taxes. There is no stipulation in the lease governing the disposition of improvements to the property made by the lessee.