Wikipedia:WikiProject Trains/ICC valuations/Grafton and Upton Railroad

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CORPORATE HISTORY

The carrier was incorporated on October 22, 1873, under the general laws of the State of Massachusetts, as the Grafton Centre Railroad Company. In 1888, by special act of the Legislature of Massachusetts, its name was changed to its present designation. The organization was perfected on November 3, 1873.

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The railroad owned by the carrier consists of a single-track line extending from North Grafton to Milford, 15.427 miles, and a loop track in the town of Upton, 2.771 miles, total 18.198 miles. The loop track and a portion of the road extending from North Grafton to Hopedale are equipped with an overhead electric-power trolley system. The property owned by the carrier, as above described, was acquired by construction and purchase. That portion from North Grafton to Grafton, about 3 miles, originally of narrow-gauge construction, and completed August 20, 1874, was in 1887 reconstructed and changed to standard gauge. Extensions from Grafton to Milford, about 12 miles, were constructed under contracts with Edward P. Usher, at that time president of the carrier. The road was opened for operation between Grafton and Upton on May 12, 1889, and between Upton and Milford on May 17, 1890. On June 19, 1902, the carrier purchased the Upton Street Railway, consisting of a single-track road from Brook Street to Jourdan's Crossing in the town of Upton, about 3 miles, now represented by the loop track.

HISTORY OF CORPORATE FINANCING