Wikipedia:WikiProject Trains/ICC valuations/Manchester and Lawrence Railroad

Interstate Commerce Commission, Valuation Reports, Volume 30

Manchester and Lawrence Railroad

Location and General Description of Property

The railroad of Manchester and Lawrence Railroad, herein referred to as the Manchester and Lawrence, is a single-track, standard-gage, steam railroad, situated entirely within the State of New Hampshire and extending from Manchester, N. H., to New Hampshire-Massachusetts State line near Hampshire Road, 23.097 miles. The Manchester and Lawrence also owns 8.067 miles of other tracks, or a total of 31.164 miles of all tracks. The property of the Manchester and Lawrence is operated by the carrier, as lessee.

Jointly Owned Property

In addition to the above mileage, the Manchester and Lawrence and the Concord and Montreal own 35 per cent and 65 per cent, respectively, 0.626 mile of main track, and 6.207 miles of all tracks, situated at Manchester, N. H.

Corporate History

The Manchester and Lawrence was incorporated under a special act of New Hampshire of June 30, 1847, for the purpose of constructing and operating a railroad from Manchester, N. H., to the New Hampshire-Massachusetts State line in Salem, N. H. Its principal office is at Manchester, N. H.

The property was constructed by independent contractors and opened for operation on November 13, 1849.

Leased Railway Property

The property of the Manchester and Lawrence was leased to the carrier on July 1, 1887, for a period of 50 years dating from September 1, 1887. The annual rental is 10 per cent on the Manchester and Lawrence's capital stock, or $100,000, interest on the funded debt, and $500 for organization expenses. The Manchester and Lawrence is obligated to pay at the termination of the lease for all additions and betterments made to the property by the lessee, with the exception of increased weight of track material. The rental accrued for the year ended at date of valuation is recorded as $113,271.99.