Wikipedia:WikiProject Trains/ICC valuations/International Railway of Maine

Interstate Commerce Commission, Valuation Reports, Volume 108

International Railway of Maine

Location and General Description of Property

The railroad of International Railway Company of Maine is a single-track standard-gauge steam railroad located in the central part of Maine. The owned mileage extends eastwardly from the Quebec, Canada, boundary line to Mattawamkeag, a distance of 144.568 miles. The International Railway Company of Maine also owns yard and side tracks totaling 33.682 miles. Its road thus embraces 178.250 miles of all tracks owned.

Corporate History

The International Railway Company of Maine was incorporated on February 2, 1871, under a special act of Maine, as the Penobscot and Lake Megantic Railroad Company. Its name was changed on February 25, 1881, by charter amendment.

Soon after its organization on May 31, 1871, the International Railway Company of Maine began construction of a railroad extending from the Canada-Maine border at Boundary to Mattawamkeag. About the same time the International Railway Company (of Canada) began the construction of a railroad from Boundary, Me., to Sherbrooke, in the Province of Quebec. These two roads were to comprise one system, but owing to their location it was necessary to incorporate in the State of Maine and in the Dominion of Canada.

On December 6, 1886, during the course of construction, the properties of the Maine and the Canada companies were acquired by the Atlantic and Northeast[sic North-West] Railway Company, which had started the construction of a railroad from Adirondack Junction to Sherbrooke. The Atlantic and Northeast Railway Company paid $1,408,590 for the properties, which was advanced by the carrier, and $216,870 of that amount was applied as the cost of the Maine property. The Atlantic and Northeast Railway Company continued the work in Maine, and the road between Boundary and Mattawamkeag was completed and opened for operation on June 1, 1889.

This report will deal only with that portion of the property of the Atlantic and Northeast Railway Company located in the State of Maine, which will be considered as standing in the name of the International Railway of Maine.

Since the road was opened for operation it has been leased to the carrier [Canadian Pacific] at an annual rental of $144,500 per annum, representing 5 per cent on the outstanding bonds of the International Railway Company of Maine, amounting to $2,890,000.