Wikipedia:WikiProject Trains/ICC valuations/Lowell and Andover Railroad
Interstate Commerce Commission, Valuation Reports, Volume 30
Lowell and Andover Railroad
[edit]Location and General Description of Property
[edit]The railroad of Lowell and Andover Railroad Company, herein referred to as the Lowell and Andover, is a double-track, standard-gage, steam railroad, situated entirely within the State of Massachusetts and extending from Lowell to Lowell Junction, 7.402 miles. The Lowell and Andover owns 13.240 miles of other tracks, including 7.130 miles of second main track, or a total of 20.642 miles of all tracks. This property is operated under lease by the carrier.
Corporate History
[edit]The Lowell and Andover was incorporated on February 5, 1873, under the general laws of Massachusetts, 1872, chapter 53, for the purpose of constructing a railroad between the points named above. Its principal office is at Lowell Mass.
Development of Fixed Physical Property
[edit]The construction, under contract, of the first track of the Lowell and Andover's road was begun in 1873 and completed on December 1, 1874, at which time the line was opened for operation under lease to the carrier. The second track was built by the carrier, by whom additions and betterments to the property have also been made.
Leased Railway Property
[edit]The property of the Lowell and Andover is operated by the carrier under a 99-year lease, dating from December 1, 1874. The stipulated annual rental is 7 per cent on cost of construction not to exceed $750,000, or about $52,500, and taxes. Improvements made by lessee are to be settled for at the termination of the lease. The rental accrued for the year ended at date of valuation is recorded as $55,239.37.