Wikipedia:WikiProject Trains/ICC valuations/Chatham Railroad

Interstate Commerce Commission, Valuation Reports, Volume 30

Chatham Railroad

Location and General Description of Property

The railroad of the Chatham Railroad Company, herein called the Chatham Railroad, is a single-track, standard-gage, steam railroad, located in the State of Massachusetts. The owned mileage extends from Harwich to Chatham and consists of 7.100 miles of first main track and 1.028 miles of yard tracks and sidings, aggregating 8.128 miles of all tracks.

Corporate History

The Chatham Railroad was incorporated February 25, 1887, under the general laws of Massachusetts, with principal office at Chatham, Mass., to build a railroad from Harwich, Mass., a point on the Old Colony Railroad, to Chatham, Mass. Information in regard to the development of fixed physical property is given in Appendix 2.

Development of Fixed Physical Property

The road of the Chatham Railroad, 7.100 miles in length, was opened for operation November 21, 1887.

Leased Railway Property

The property of the Chatham Railroad is leased to the carrier under date of March 15, 1911, which lease runs from January 1, 1911, for 81 years and 2 months. The lessee pays as rent each year $5 per share on 682 shares of capital stock and $200 for maintenance of the lessor's organization. The rent is payable semiannually. The lessee pays all taxes and maintains the road. The rent for the year ended on date of valuation was $3,610. Prior to the effective date of the present lease the rent was a proportion of the gross revenues. From the date of operation, November 21, 1887, the road was operated by the Old Colony Railroad under contract, to March 1, 1893. At that date the Old Colony Railroad leased all of its property to the carrier, which operated the Chatham Railroad under the same contract until June 16, 1905, when a new agreement was made. On March 15, 1911, a lease for 81 years and 2 months from January 1, 1911, was executed, and under this lease the property is now held.