Wikipedia:WikiProject Trains/ICC valuations/Hoosac Tunnel and Wilmington Railroad

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The railroad of Hoosac Tunnel and Wilmington Railroad Company, hereinafter called the carrier, is a single-track standard-gauge steam railroad, extending from Hoosac Tunnel, Mass., to Wilmington, Vt. The mileage of tracks owned and used by the carrier is as follows: In Appendix 1 will be found a general description of the property of the carrier.
 * 1) 1.534 miles, both standard and narrow gauge.

Corporate history.—The carrier, whose principal office is at Wilmington, was incorporated December 28, 1886, under the general laws of Massachusetts, its organization being perfected on January 13, 1888. Its road from Hoosac Tunnel to the Vermont State line was acquired by purchase in 1888 from the Deerfield River Company, hereinafter called the River; and from the latter point to Wilmington, in 1891, from the Deerfield Valley Railroad Company, hereinafter called the Valley.

Further details as to the development of the fixed physical property, including the corporate history of the predecessor companies, are given in Appendix 2.

History of corporate financing, capital stock, and long-term debt.—

No accounting or other records were obtainable for the predecessor companies, except the minutes of the Valley. Such general information as could be ascertained is briefly stated as follows:
 * APPENDIX 2
 * DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The River was incorporated under the general laws of Vermont on April 2, 1883. It constructed a narrow-gauge railroad from Hoosac Tunnel to Readsboro, which was opened for operation in July, 1885. As heretofore stated, the River, in 1887, sold to the carrier that part of its railroad from Hoosac Tunnel to the Vermont State line. It also leased to the carrier the remainder of its road, extending from the latter point to Readsboro. Under the terms of the lease the River was to receive three-elevenths of the net receipts from the operation of the line from Hoosac Tunnel to Readsboro, the total of which is shown as "rent for leased roads" in the carrier's income statement. In December, 1891, the River sold to the Valley all of its remaining holdings, or that part which was formerly leased to the carrier. At the same time the Valley sold to the carrier all of its holdings, including those acquired from the River.

The Valley was incorporated October 28, 1890, under a special act of Vermont, and was organized April 24, 1891. It constructed a narrow-gauge railroad from Readsboro to Wilmington, which was opened for operation in November, 1891.

The minutes of the Valley show cash donations by the town of Wilmington and by sundry persons, to aid in construction of the road, amounting to $32,000 and $1,375, respectively.


 * HISTORY OF CAPITAL FINANCING