Wikipedia:WikiProject Trains/ICC valuations/Kennebunk and Kennebunkport Railroad
Interstate Commerce Commission, Valuation Reports, Volume 30
Kennebunk and Kennebunkport Railroad
[edit]Introductory
[edit]The railroad of Kennebunk and Kennebunkport Railroad, herein referred to as the Kennebunk and Kennebunkport, is a single-track, standard-gage, steam railroad, situated entirely within the State of Maine and extending from Kennebunk to Kennebunkport, 4.532 miles. The Kennebunk and Kennebunkport also owns 0.856 mile of yard tracks and sidings, or a total of 5.388 miles of all tracks. This property is operated under lease by the carrier.
Corporate History
[edit]The Kennebunk and Kennebunkport was incorporated on August 16, 1882, under the general laws of Maine, for the purpose of constructing a railroad between the points named above. Its principal office is at Kennebunk, Me.
The Kennebunk and Kennebunkport's property was constructed by the carrier under contract of December 20, 1882, the terms of which are set forth in Appendix 2. The road was opened for operation on June 18, 1883, under lease to the carrier, by whom it has since been operated.
Leased Railway Property
[edit]The property of the Kennebunk and Kennebunkport is operated by the carrier under a lease dated June 18, 1883, running for a period of 99 years from May 15, 1883. The carrier pays as rental 4.5 percent on Kennebunk and Kennebunkport's capital stock, or $2,925 per annum, and taxes. Prior to 1911 the carrier paid the expenses of maintaining the investment organization. Expenditures by the carrier for improvements are to be settled for by the lessor at the termination of the lease.