Wikipedia:WikiProject Trains/ICC valuations/Bristol Railroad

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The railroad of the Bristol Railroad Company, hereinafter called the carrier, is a single-track standard-gauge steam railroad, located in the west-central part of Vermont. The owned mileage extends easterly from New Haven Junction, Vt., to Bristol, Vt., a distance of 6.139 miles. The carrier also owns yard and side tracks totaling 1.153 miles. Its road thus embraces 7.292 miles of all tracks owned. In Appendix 1 will be found a general description of the property of the carrier.

Corporate history.—The Bristol Railroad Company was incorporated on November 28, 1882, by special act of the Vermont Legislature, and was organized on June 16, 1890. Its principal office is at Bristol, Vt. The carrier is controlled by its president, Percival W. Clement, of Rutland, Vt., through ownership of a majority of the outstanding capital stock. The detailed facts as to the development of the fixed physical property are given in Appendix 2.

History of corporate financing, capital stock, and long-term debt.—

APPENDIX 2

BRISTOL RAILROAD COMPANY

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The property owned and operated by the carrier was acquired by construction. No accounting records are available for the construction period, but from other records in the carrier's flies[sic], it would appear that a contract for grading was made with O. Gallup, on July 16, 1890, under which some right of way was acquired and some grading done. Donations were made by certain towns, as previously mentioned, and a portion of the money expended. According to the directors' minutes, a contract was made on August 5, 1891, with Percival W. Clement, to build the road and furnish necessary equipment, for the sum of $200,000, payable in securities of the carrier. In addition, Clement was to have the benefit of the right of way already acquired and whatever grading had been done, and was to receive the unexpended balance of past and any subsequent donations. Under this contract, the road was completed and put into operation on January 1, 1892.

HISTORY OF CORPORATE FINANCING