Wikipedia:WikiProject Trains/ICC valuations/Holyoke and Westfield Railroad

Interstate Commerce Commission, Valuation Reports, Volume 30

Location and General Description of Railroad
The railroad of the Holyoke and Westfield Railroad Company, herein called the Holyoke and Westfield, is a single-track, standard-gage, steam railroad, located entirely in the State of Massachusetts. The owned mileage extends from Holyoke to Westfield, and consists of 10.028 miles of first main track and 10.551 miles of yard tracks and sidings, aggregating 20.579 miles of all tracks.

Corporate History
The Holyoke and Westfield was incorporated June 12, 1869, under a special act of Massachusetts, with principal office at Holyoke, Mass. Information in regard to development of fixed physical property is given in Appendix 2.

Development of Fixed Physical Property
On date of valuation the railroad of the Holyoke and Westfleld comprised 10.028 miles, extending from Holyoke to Westfield, Mass., built in 1870 and 1871, with industrial tracks in the city of Holyoke of 10.551 miles, built in 1878. The original road was put in use for freight traffic October 16, 1871, and for passenger traffic November 25, 1871. All of the work was done under contract by the New Haven and Northampton Railroad Company (of 1862).

Leased Railway Property
The original lease was dated December 3, 1870, and was in perpetuity to the New Haven and Northampton Railroad Company (of 1862). It provided for rent equivalent to 7 per cent on $200,000 of outstanding debt, half the gross earnings in excess of $28,000, and, in addition, taxes and maintenance. On May 4, 1878, an additional rent was provided equivalent to 6 per cent on $60,000, of new bonds with provision with respect to gross earnings charged to road in excess of $35,200. On April 1, 1887, the lease was assigned to the carrier. On January 30, 1908, effective as of June 1, 1907, the lease was further amended to require a payment semiannually as rent of $46,000 per year, in addition to all taxes and the cost of maintenance. In the original lease there is a clause which is confirmed by the supplemental leases, requiring the lessee to fix the rates for freight and passenger traffic from New York and from New Haven within a stated differential as related to the rates from the two points named, to Springfield, Mass.