This is for those that restore or run steam locomotives that you don't own but lean or have on-loan from a city or museum.

As you spend money on the engine that is not really your own, Do you have problems justifying putting money into it?
I've have thought about this before, And I think it would be something I would have to fight to overcome.
I realize there are agreements and contracts but after a certain number of years and after you have cared for and built a working business around it, the city or museum that really owns it could come to you and say, Wow that engine really looks nice, will be back with a crew tomorrow to get it back.

adofmsu@aol.com

There are leases and there are leases.

Consider the other side of the coin, where an owner with an operating locomotive leases it to an operator only to have it returned in condition requiring overhaul to be roadworthy again.

Very few situations of this nature are operating today - one being the Mt Dora Scenic RR in Florida - and perhaps you can contact them to determine their satisfaction with the terms of their agreement with Reader Industries.

Dave

irondave@bellsouth.net

The situation is not limited to steam locomotives or operating equipment.

For years, the Fire Museum in Beaumont, TX had a beautiful steam fire pumper on display. When I finally got around to visiting the museum for the purpose of photographing the engine, I was told that the City of Brenham, TX took the engine back for their own display, after the Beaumont museum had paid for a major restoration.

-James Hefner

> There are leases and there are leases.

> Consider the other side of the coin, where
> an owner with an operating locomotive leases
> it to an operator only to have it returned
> in condition requiring overhaul to be
> roadworthy again.

> Very few situations of this nature are
> operating today - one being the Mt Dora
> Scenic RR in Florida - and perhaps you can
> contact them to determine their satisfaction
> with the terms of their agreement with
> Reader Industries.

> Dave


Surviving World Steam Locomotives
james1@pernet.net

> As you spend money on the engine that is not
> really your own, Do you have problems
> justifying putting money into it?
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The Milwaukee Road 261 is leased from the National Railroad Museum in Green Bay Wi.
The Friends Of The 261 has no problem with putting whatever money is needed into that engine.
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> but after a certain number of years and
> after you have cared for and built a working
> business around it, the city or museum that
> really owns it could come to you and say,
> Wow that engine really looks nice, will be
> back with a crew tomorrow to get it back.
------------------------------------------------
That could happen, especially after a lease runs out. But, if the lease has been drawn up in a manner protecting all parties, it shouldn't be possible unless the leasee does not live up to the terms of the lease.
Further, if the lease is drawn up in a manner beneficial to both parties, the leassor really has no good motive to take it back.
-----------------------------------------------
Mark D.


mnmach@lakes.com