History
Josiah L. Maxey, a Gardiner banker who had recently financed construction of the Kennebec Central Railroad, obtained legislative approval for consolidation of the Sandy River Railroad and Phillips & Rangeley Railroad (P&R) on 10 March 1891. Maxcy purchased controlling stock of the Sandy River Railroad in 1892, and then obtained controlling stock of the Franklin & Megantic Railway (F&M) in 1897. Under Maxey's direction, F&M purchased the Kingfield & Dead River Railroad (K&DR) at auction on 2 August 1898; and the F&M, K&DR, and Sandy River railroads operated under common management until formally merged as the SR&RL in January 1908. Under Maxcy's direction, SR&RL purchased the Phillips & Rangeley Railroad (P&R) and the Madrid Railroad at auction on 12 June 1908 and the Eustis Railroad at auction on 24 August 1911.
Read more about this topic: Sandy River And Rangeley Lakes Railroad
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