Wikipedia:WikiProject Trains/ICC valuations/Connecticut River Railroad

Interstate Commerce Commission, Valuation Reports, Volume 30

Introductory
The railroad of Connecticut River Railroad Company, herein referred to as the Connecticut River Railroad, is a standard-gage, steam railroad, located in the States of Massachusetts, New Hampshire, and Vermont. The main line extends from Springfield, Mass., to Brattleboro, Vt., 59.073 miles. There are four branches aggregating 28.228 miles in length, a total of 87.301 miles of road. The principal branch line extends from Dole Junction, N. H., to Keene, N. H., about 21.82 miles. The property is operated by the carrier as lessee.

Corporate History
The Connecticut River Railroad was incorporated under a special act of Massachusetts of January 25, 1845, which authorized the Greenfield and Northampton Rail-road Company and the Northampton and Springfield Rail-road Corporation to consolidate under the corporate name of Connecticut River Railroad Company. This consolidation was effective as of July 8, 1845. On July 1, 1872, under a special act of Massachusetts of March 23, 1872, the Connecticut River Railroad acquired the property and franchises of the Mount Tom and Easthampton Railroad Company which it had financed, and on February 7, 1890, under special acts of Massachusetts and New Hampshire of February 17, 1886, and July 30, 1889, respectively, The Ashuelot Railroad Company was merged with it.

The Connecticut River Railroad owns 99 per cent of the capital stock of the Vermont Valley Railroad, which in turn owns all of the capital stock of the Sullivan County Railroad. The Connecticut River Railroad is under agreement to operate the properties of these companies as agent. The carrier operates these properties under this agency agreement.

The principal office of the Connecticut River Railroad is at Springfield, Mass.

The following table shows the companies whose properties, rights, and franchises were acquired by the Connecticut River Railroad and the essential facts as to the corporate history of each:

The Ashuelot Railroad Company was authorized to extend its line by special act of June 21, 1848. This act, so far as it related to the State of Vermont, was confirmed by special act of that State dated October 25, 1850.

Development of Fixed Physical Property
The property of the Connecticut River Railroad on date of valuation consisted of 87.301 miles of road, acquired as shown in the following table: The foregoing properties were for the most part constructed under contract. The construction of the lines from Dole Junction, N. H., to the New Hampshire-Vermont State line was begun in 1911 by the carrier for account of the Connecticut River Railroad and completed on June 23, 1913.

Leased Railway Property
The entire property of the Connecticut River Railroad was leased to the carrier on January 1, 1893, for a period of 99 years. The annual rental is 10 per cent on the Connecticut River Railroad's capital stock, interest on its funded debt, and organization expenses. Improvements made by lessee are to be reimbursed by lessor; certain expenditures for increase in weight of rail have been borne by the lessee. The rental accrued for the year ended at date of valuation is recorded as $547,506.50.

The Connecticut River Railroad is obligated, as agent, to operate the properties of the Vermont Valley Railroad and The Sullivan County Railroad for the benefit of the owners thereof. This obligation is assumed by the carrier. Reports on these companies appear hereinafter.

One steam locomotive owned by the Connecticut River Railroad is used by The St. Johnsbury and Lake Champlain Railroad Company.