I agree with Dale about the Voltmeter not being accurate since it's not a load due to its input impedance. This is the same theory when you get your battery tested at the auto parts store, they test it under load, vice with a voltmeter
Check your wiring for high temp locations, which will indicate a loose (high resistance) connection. I'd let the train run for about five minutes then feel your wiring, AND track. Your track if operating correctly (ie good electrical connections) will be cool to the touch.
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