Wikipedia:WikiProject Trains/ICC valuations/Ware River Railroad

Interstate Commerce Commission, Valuation Reports, Volume 27

Location and General Description of Property
The railroad of the Ware River Railroad Company, herein called the Ware River Railroad, is a single-track branch line, within the State of Massachusetts, extending from Palmer to Winchendon, a distance of 49.278 miles.

Introductory
The Ware River Railroad is a corporation of the State of Massachusetts, having its principal office at Boston, Mass. The Ware River Railroad has kept no accounts since September 30, 1880. Therefore, only partial information can be given from its accounts regarding its financial dealings, corporate operations, or investments. The information given below has been obtained from its available records and from other sources. The records reviewed do not indicate that the Ware River Railroad is controlled by any individual or corporation, nor, on the other hand, that the company, itself, controls any common-carrier corporation.

The property of the Ware River Railroad has been operated by the Boston and Albany from April 21, 1873, to June 30. 1900, and by The New York Central and Hudson River Railroad Company and its successor, the New York Central, from July 1, 1900, to date of valuation.

Corporate History
The Ware River Railroad was incorporated April 21, 1873, by special act of the State of Massachusetts, for the purpose of acquiring the property, rights, and franchises of the Ware River Railroad Company (of 1867), which had been incorporated March 16, 1867, and whose property had been sold at foreclosure May 22, 1873. Pursuant to this purpose, the Ware River Railroad acquired on July 12, 1873, the property, rights, and franchises of the corporation named.

Development of Fixed Physical Property
The owned mileage of the Ware River Railroad was acquired by purchase and construction, as shown in the following table:

Mileage inventoried as of date of valuation, 49.278 miles.
 * Acquired by purchase:
 * From the Ware River Railroad Company (of 1867)—
 * Constructed by that company—
 * Palmer to Gilbertville, Mass., 1867-1870, 15.000 miles.
 * Acquired by construction:
 * Constructed partly by the Ware River Railroad Company (of 1867) and completed by the Ware River Railroad—
 * Gilbertville to Winchendon, Mass., 1871, 1873, 34.470 miles.
 * Less difference between total recorded mileage and mileage inventoried as of date of valuation, 0.192 miles.

Leased Railway Property
The entire property of the Ware River Railroad is leased to the Boston and Albany for a term of 999 years from January 1, 1900. Since July 1, 1900, the Boston and Albany has subleased the property to The New York Central and Hudson River Railroad Company and its successor, the New York Central, for operation. The terms of the lease and the rental accrued for the year ending on date of valuation are given in the chapter on leased railway property in the report on the New York Central.