Wikipedia:WikiProject Trains/ICC valuations/Concord and Portsmouth Railroad

Interstate Commerce Commission, Valuation Reports, Volume 30

Introductory
The railroad of Concord and Portsmouth Railroad, herein referred to as the Concord and Portsmouth, is a single-track, standard-gage, steam railroad, situated entirely within the State of New Hampshire and extending from Manchester to Portsmouth, 39.699 miles. The Concord and Portsmouth also owns 16.122 miles of yard tracks and sidings, a total of 55.821 miles of all tracks. This property is operated by the carrier as lessee through the Concord & Montreal.

Corporate History
The Concord and Portsmouth was incorporated under a special act of New Hampshire of July 14, 1855, amended July 11, 1856, practically as a reorganization of the Portsmouth and Concord Railroad by the bondholders thereof, in whose interest the latter's road was purchased. The principal office is at Manchester, N. H.

The Concord and Portsmouth represents practically a reorganization of the Portsmouth and Concord Railroad. The latter represented a consolidation of the Portsmouth, New Market and Concord Railroad and the Portsmouth, New Market and Exeter Railroad, under the charter privileges of these companies. This consolidation was effective as of December 23, 1845. Both of the consolidated companies were incorporated under special acts of New Hampshire of July 1, 1845. It appears that neither did any construction work.

Development of Fixed Physical Property
The road acquired in 1857, from the Portsmouth and Concord, consisted of a single-track, standard-gage line, extending from Portsmouth to Candia, N. H., and thence in a direct line via Suncook to Concord, N. H., about 45.95 miles. Part of this line was completed and opened for operation on December 11, 1849, and the remainder on August 18, 1852. Of the mileage acquired from the Portsmouth and Concord, about 11.52 miles, lying between Suncook and Candia, were abandoned in 1861, and about 6.06 miles, extending from Bow Junction (Concord) to Suncook, N. H., were relinquished to the Concord Railroad in 1862. There were left, therefore, about 29.37 miles of the road originally acquired. In 1862 the Concord and Portsmouth constructed an extension from Candia to Manchester, N. H., about 10.50 miles, making a total of about 39.87 miles of road recorded as owned on date of valuation. The mileage as of date of valuation is 39.699 miles.

Leased Railway Property
The property of the Concord and Portsmouth was leased on May 26, 1862, to the Concord Railroad Corporation, predecessor of the Concord & Montreal, for a period of 99 years dating from January 1, 1862, at an annual rent of 7 per cent on its capital stock, or $24,500, and $500 for organization expenses. This lease was assumed by the carrier at the time of the leasing of the Concord & Montreal's property in 1895. There is no provision in the lease governing the disposition of improvements made to the property by the lessee.