Wikipedia:WikiProject Trains/ICC valuations/Wiscasset, Waterville and Farmington Railway
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The railroad of Wiscasset, Waterville and Farmington Railway Company, hereinafter called the carrier, is a single-track narrow-gauge steam railroad, located in the southern part of Maine. The owned mileage extends northerly from Wiscasset to Albion, Me., a distance of 43.639 miles. The carrier also owns yard and side tracks totaling 3.447 miles. Its road thus embraces 46.986 miles of all tracks owned. In Appendix 1 will be found a general description of the property of the carrier.
Corporate history.—The carrier was incorporated on January 3, 1907, under the general laws of the State of Maine, for the purpose of acquiring the franchises, rights, and property of the Wiscasset, Waterville and Farmington Railroad Company, which were transferred to the carrier on January 1, 1907, by Carson C. Peck, its owner. The property acquired consisted of a single-track 2-foot gauge railroad, extending from Wiscasset, Me., to Albion, Me., a distance of about 44 miles, with a branch of 14 miles from Weeks Mills to Winslow. This branch was abandoned in May, 1909. The carrier is controlled by the widow of Carson C. Peck through ownership of all but four shares of the outstanding capital stock.
History of corporate financing, capital stock, and long-term debt.—
- Predecessor Companies
- WISCASSET, WATERVILLE AND FARMINGTON RAILROAD COMPANY
- CORPORATE HISTORY
The above-named company was incorporated on February 5, 1901, under a special act of the State of Maine, and was organized on March 29 of the same year. It was empowered by its charter, among other things, to purchase the franchises, rights, and property of three other companies, which it did, as of July 1, 1901. It acquired 55 miles of line, subsequently abandoned 11 miles and constructed a 14-mile branch from Weeks Mills to Winslow under contract, principally through issues of stocks and bonds. The Wiscasset, Waterville and Farmington Railroad Company defaulted on its bond interest, and was placed in the hands of a receiver on October 7, 1905. It was sold at judicial sale on December 4, 1906, to Carson C. Peck, but the receiver continued to operate the property until December 31, 1906. On the next day it was transferred to the present carrier. Information concerning the three predecessors of the Wiscasset, Waterville and Farmington Railroad Company is given below.
Franklin, Somerset and Kennebec Railway Company.—This company was incorporated on March 18, 1897, under a special act of the State of Maine, for the purpose of constructing a railroad from Farmington to Waterville, Me., about 37 miles. No accounting or corporate records of this company are available. The files of the Wiscasset, Waterville and Farmington Railroad Company indicate that the company acquired some land. It commenced construction in the latter part of the year 1897, but very little was done. The securities issued, if any, are not of record.
Waterville and Wiscasset Railroad Company.—This company was incorporated on March 27, 1895, under a special act of the State of Maine, for the purpose of constructing a railroad from Weeks Mills to Waterville, Me., about 15 miles. There are no available records of this company, and it evidently acquired no physical property. Under the franchise, its successor, the Wiscasset, Waterville and Farmington Railroad Company, built the section from Weeks Mills to Winslow, a point about 1 mile from Waterville.
Wiscasset and Quebec Railroad Company.—This company was organized on August 25, 1900, and had one predecessor of the same name, which was chartered in 1854. Further information concerning these two companies is given in another part of this appendix.
- HISTORY OF CORPORATE FINANCING
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- WISCASSET AND QUEBEC RAILROAD COMPANY (OF 1900)
- CORPORATE HISTORY
The Wiscasset and Quebec Railroad Company (of 1900) was a reorganization of a company with the same corporate title, chartered in 1854. It was organized on August 25, 1900, under the laws of the State of Maine, and acquired from its predecessor about 44 miles of operated railroad located between Wiscasset and Albion, Me., and an extension of about 11 miles, from Albion to Burnham, Me., which was never operated by either corporation. No records of the Wiscasset and Quebec Railroad Company (of 1900) were obtainable in this investigation. The information which follows was obtained from its annual report to the Railroad Commissioners of the State of Maine, for the year ended June 30, 1901.
- HISTORY OF CAPITAL FINANCING
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- WISCASSET AND QUEBEC RAILROAD COMPANY (OF 1854)
- CORPORATE HISTORY
The Wiscasset and Quebec Railroad Company (of 1854) was incorporated on April 15, 1854, under special laws of the State of Maine, under special laws of the State of Maine, and perfected its organization on June 15 of the same year. After 40 years of inactivity, with the exception of keeping the charter alive, in the fall of 1894, the Wiscasset and Quebec Railroad Company (of 1854) commenced construction of a single-track 2-foot gauge railroad between Wiscasset and Albion, Me., about 44 miles in length. The section from Wiscasset to Weeks Mills, about 28 miles, was placed in operation in February, 1895. Three other sections, each about 5 miles in length, were added to the operated mileage on July 24, September 24, and November 4, 1895, respectively. In 1898 an extension, about 11 miles long, was built between Albion and Burnham, Me., which was never put in operation. At July 1, 1900, the date the company ceased its corporate operations, it owned the 55 miles of road just described and operated 44 miles only between Wiscasset and Albion. No records of the Wiscasset and Quebec Railroad Company (of 1854) were available. The information contained herein was obtained from its sworn reports to the Railroad Commissioners of the State of Maine.
- HISTORY OF CAPITAL FINANCING