Wikipedia:WikiProject Trains/ICC valuations/New Boston Railroad

Interstate Commerce Commission, Valuation Reports, Volume 30

New Boston Railroad

Introductory

The railroad of New Boston Railroad Company, herein referred to as the New Boston Railroad, is a single-track, standard-gage, steam railroad, situated entirely within the State of New Hampshire, and extending from Parker to New Boston, 5.183 miles. The New Boston Railroad also owns 0.668 mile of yard tracks and sidings, or a total of 5.851 miles of all tracks. This property is operated by the carrier as lessee through the Concord & Montreal.

Corporate History

The New Boston Railroad was incorporated under a special act of New Hampshire of February 19, 1891, for the purpose of constructing and operating a railroad from Goffstown to New Boston, N. H. It is controlled by the Concord & Montreal through ownership of about 28 per cent of the outstanding capital stock, and interlocking directorates. Its principal office is at Concord, N. H.

The property of the New Boston Railroad was constructed under the supervision of the Concord & Montreal. Construction, by independent contractors, was begun in September, 1892, and completed on June 26, 1893.

The New Boston Railroad has no books of account. Such information as is here given has been obtained from stockholders' and directors' minutes, complete file vouchers, stock certificate book, and authenticated statements compiled by the treasurer.

Leased Railway Property

The property of the New Boston Railroad is operated by the carrier as lessee through the Concord & Montreal under a 99-year lease dating from June 19, 1893. The annual rental, effective from July 1, 1893, is 4 per cent on cost of construction not to exceed $70,000. The amount paid is $2,800. The lessee maintains the property and pays all taxes; the lessor pays for all improvements made to the property by the lessee.