Wikipedia:WikiProject Trains/ICC valuations/Houlton Branch Railroad
Interstate Commerce Commission, Valuation Reports, Volume 108
Houlton Branch Railroad
[edit]Location and General Description of Property
[edit]The railroad of Houlton Branch Railroad Company, is a single-track standard-gauge steam railroad located in the east-central part of Maine. The owned mileage extends east from Houlton to the New Brunswick, Canada, boundary line, a distance of 3.169 miles. The Houlton Branch Railroad Company also owns yard and side tracks totaling 1.334 miles. Its road thus embraces 4.493 miles of all tracks owned.
Corporate History
[edit]The Houlton Branch Railroad Company was incorporated under a special act of the State of Maine on February 6, and organized on June 11, 1867. Its principal office is at Toronto, Canada. The property of the Houlton Branch Railroad Company was built under contract by officers of the New Brunswick Railroad Company (of Canada) who received in payment $28,000 of the capital stock of the Houston Branch Railroad Company and $24,000 of its first-mortgage 20-year 6 per cent bonds. These securities represent its capital liability on date of valuation.
The obtainable records indicate that the New Brunswick Railroad Company (of Canada) operated the property from date of completion, some time in 1870, to June 6, 1881. On the latter date the road was leased to that company for a period of 100 years, at an annual rental of $3,120, representing 6 per cent on its outstanding securities. On July 1, 1882, the period of the lease was extended to 999 years. Subsequently the New Brunswick Railroad Company (of Canada) leased its property and that of the Houlton Branch Railroad Company to the New Brunswick Railway Company (of Canada), which in turn subleased the property of the Houlton Branch Railroad Company to the carrier on July 1, 1890.