Philadelphia & Reading Coal & Iron Co. v. Salem Terminal Corp.

The Eastern Railroad Company in 1864 acquired title to certain lands and flats on the water front of the harbor in the city of Salem, which were substantially rectangular, and extended from Derby Street southeasterly to tide water. ' November 11, 1874, it demised and let to the plaintiff for a term of twenty years with a covenant for extension, the northeasterly portion at an annual rental of $5. The remaining lands and flats lay to the northeast and southwest of the leased premises. In 1890 the Boston and Maine Railroad succeeded to the entire title of the lessor, which in 1923 it conveyed…