Wikipedia:WikiProject Trains/ICC valuations/Woodstock Railway

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The railroad of Woodstock Railway Company, hereinafter called the carrier, is a single-track standard-gauge steam railroad, located in the east-central part of Vermont. The owned mileage extends westerly from White River Junction to Woodstock, both in the State of Vermont, a distance of 13.690 miles. In addition to its main-line mileage the carrier owns 1.577 miles of yard tracks and sidings. Its road thus embraces 15.267 miles of all tracks owned. In Appendix 1 will be found a general description of the property of the carrier.

Corporate history.—The carrier is a reorganization, under foreclosure proceedings, of the Woodstock Railroad Company, which had defaulted on the payment of its funded debt due April 15, 1890. It was organized on July 1, 1890, under the general laws of Vermont. The corporation is controlled by its stockholders, no one of whom owns a majority of the capital stock. The principal office of the carrier is located at Woodstock.

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

APPENDIX 2

DEVELOPMENT OF FIXED PHYSICAL PROPERTY

The Woodstock Railroad Company was incorporated on April 30, 1863, under a special act of Vermont, and was organized on January 9, 1867. It constructed 13.88 miles of single-track standard-gauge railroad, extending from Woodstock to White River Junction, Vt. The road was built by contract, and construction was commenced on April 21, 1868, by Ralph Jones & Company, but owing to lack of funds work was suspended on March 15, 1870. On August 8, 1874, a contract was made with S. S. Thompson (afterwards a director of the company) to complete the construction of the road. The work was completed on September 29, 1875. on which date the road was opened for operation. The terms of the contract with Jones & Company are not of record. Thompson agreed to build the road for the sum of $200,000.

The Woodstock Railroad Company operated its property until April 15, 1890, when it defaulted in the payment of its bonded indebtedness and the road was surrendered to the trustees of the mortgage, who continued operations until June 30, 1890. The only available records of the Woodstock Railroad Company consisted of its minute records and printed annual reports to stockholders. The information herein was obtained from these sources.

HISTORY OF CAPITAL FINANCING