Wikipedia:WikiProject Trains/ICC valuations/Pemigewasset Valley Railroad

Interstate Commerce Commission, Valuation Reports, Volume 30

Introductory
The railroad of Pemigewasset Valley Railroad is a single-track, standard-gage, steam railroad, situated entirely within the State of New Hampshire and extending from Plymouth to Lincoln, 21.412 miles. The Pemigewasset Valley Railroad also owns 8.153 miles of yard tracks and sidings, or a total of 29.565 miles of all tracks. This property is operated by the carrier as lessee through the Concord & Montreal.

Corporate History
The Pemigewasset Valley Railroad was incorporated under a special act of New Hampshire of July 9, 1874, for the purpose of constructing and operating a railroad from Plymouth to Franconia, N. H. Its principal office is at Concord, N. H.

Development of Fixed Physical Property
The construction, under contract, of that portion of the Pemigewasset Valley Railroad's line lying between Plymouth and North Woodstock, N. H., a distance of about 21 miles, was begun in January, 1882, and completed on February 1, 1883, at which time the road was opened for operation. In 1894 an extension of the line from North Woodstock to Lincoln, N. H., a distance of about 1 mile, was constructed under the supervision of and with advances made by the Concord & Montreal.

Leased Railway Property
The property of the Pemigewasset Valley Railroad is operated by the carrier as lessee through the Concord & Montreal, under a 99-year lease dating from February 1, 1883. The annual rental is 6 per cent on the outstanding capital stock, or $32,490, and $300 for organization expenses. This lease was originally made to the Boston, Concord and Montreal Railroad, predecessor of the Concord & Montreal, by whom and the Concord & Montreal the property was successively operated until the carrier began the operation of it in 1895. There is no provision in the lease governing the settlement for improvements made to the property by the lessee.