Wikipedia:WikiProject Trains/ICC valuations/Sullivan County Railroad

Interstate Commerce Commission, Valuation Reports, Volume 30

Location and General Description of Property
The railroad of The Sullivan County Railroad, herein referred to as the Sullivan County Railroad, is a standard-gage, steam railroad, situated in the States of New Hampshire and Vermont. It extends from the Vermont-New Hampshire State line at Bellows Falls, Vt., in a northerly direction along the east bank of the Connecticut River to the New Hampshire-Vermont State line near Windsor, Vt., 24.308 miles. All of this mileage is situated in the State of New Hampshire. The Sullivan County Railroad owns 0.055 mile of yard tracks and sidings, situated in the State of Vermont, reached over the tracks of the Central Vermont Railway Company, 0.726 mile of the tracks of the latter, lying between the Connecticut River bridge at the New Hampshire-Vermont State line and Windsor, Vt., being used by the Sullivan County Railroad under trackage agreement.

The Sullivan County Railroad's property is operated by the carrier, as agent, through assignment by the Connecticut River Railroad of its agency agreement with the Sullivan County Railroad.

Corporate History
The Sullivan County Railroad Company was incorporated under a special act of New Hampshire of July 3, 1866, which authorized the sale of the property of the Sullivan Railroad Company under foreclosure of mortgage, and the formation of a new company by the purchasers thereof. The Sullivan Railroad Company, incorporated under a special act of New Hampshire of July 10, 1846, had surrendered its property to the trustees of the bondholders on September 29, 1851. On July 20, 1866, its property was sold to a committee acting in behalf of the bondholders, who organized the Sullivan County Railroad.

The Sullivan County Railroad is controlled by the carrier through the latter's lease of the property of the Connecticut River Railroad. The Connecticut River Railroad owns 99 per cent of the capital stock of the Vermont Valley Railroad, which in turn owns the outstanding capital stock of the Sullivan County Railroad. Under the terms of the lease the voting power in this stock is vested in the carrier. The Sullivan County Railroad's principal office is at Concord, N. H.

Construction of the property acquired by the Sullivan County Railroad from the Sullivan Railroad Company was begun about March, 1847, and completed on February 6, 1849. The Sullivan County Railroad constructed about 17.07 miles of second main track between 1884 and 1903.

Leased Railway Property
The Sullivan County Railroad's property was operated by various lessees from September 7, 1866, to August 31, 1880, at which time an agency agreement for a term of 50 years was entered into with the Connecticut River Railroad. This agreement was assigned to the carrier on January 1, 1893.

Central Vermont trains are operated over the Sullivan County Railroad's entire line of road. The latter receives all revenues accruing from passenger service and 4 mills per ton per train-mile for all freight hauled, and pays to the Central Vermont 30 cents per passenger-train mile and 39 cents per freight- train mile for all trains passing over its track.

The Sullivan County Railroad (operated by the carrier, as agent) leases for sole use 0.726 mile of the Central Vermont's road extending from Connecticut River Bridge to Windsor, Vt. The sole use is modified by another agreement between the carrier and the Central Vermont, whereby the latter uses the above piece of track jointly with the Sullivan County Railroad, the terms of use being the same as stated in the preceding paragraph.

The Sullivan County Railroad has joint use of the Central Vermont's terminals at Windsor, Vt., for which $5,000 per annum is paid, and those of the Rutland Railroad Company at Bellows Falls, Vt., for which $4,494 per annum is paid.

The Sullivan County Railroad's yards at terminals at Claremont Junction, N. H., are used jointly with the carrier.