Wikipedia:WikiProject Trains/ICC valuations/Portland and Rumford Falls Railway

Interstate Commerce Commission, Valuation Reports, Volume 30

Location and General Description of Property
The railroad of Portland and Rumford Falls Railway is a single-track, standard-gage, steam railroad, located in the southwestern part of Maine. The owned mileage extends from Rumford Junction to Rumford, from Canton to Livermore Falls, and from Rumford to Virginia. The total length of main track is 66.944 miles. The Portland and Rumford Falls Railway also owns yard and side tracks totaling 29.632 miles. Its road thus embraces 96.576 miles of all tracks owned. All of its property is leased to the Portland and Rumford Falls Railroad, which subleases it to the carrier for operation.

Corporate History
The Portland and Rumford Falls Railway was incorporated on October 8, 1890, under the general laws of the State of Maine. Its principal office is at Portland, Me. On April 4, 1907, the Portland and Rumford Falls Railway leased its property to the Portland and Rumford Falls Railroad, which on May 1, 1907, subleased it to the carrier. The carrier has operated the property since the latter date. The dates of incorporation of predecessor companies, and the dates and manner of their succession, will be found in Appendix 2.

The detailed facts as to the development of the fixed physical property are given in Appendix 2.

The existence of the Portland and Rumford Falls Railway as an operating carrier dated from November 1, 1890, when it leased the property of the Rumford Falls and Buckfield Railroad Company, which was in the hands of a receiver. In June, 1891, the Portland and Rumford Falls Railway succeeded the former receiver and acted in the capacity of receiver until June 9, 1894, when the receivership was terminated. It purchased the property on November 23, 1896. On April 26, 1907, the property was subleased to the carrier, as hereinbefore related.

The following statement shows facts concerning the incorporation and succession of companies, which were directly or indirectly predecessors of the Portland and Rumford Falls Railway.

Development of Fixed Physical Property
The mileage owned by the Portland and Rumford Falls Railway, as of date of valuation, totaled 65.94 miles, of which 26.70 miles had been acquired by purchase and 39.24 miles by construction, as detailed below:

Leased Railway Property
On April 4, 1907, the Portland and Rumford Falls Railway leased its entire property to the Portland and Rumford Falls Railroad for a term of 1,000 years from April 1, 1907. Other terms of the lease have been previously stated in the chapter devoted to the Portland and Rumford Falls Railroad.