MORE
ABOUT THE PROPOSED ELECTRIC RAILROAD |
MORE
ABOUT THE PROPOSED ELECTRIC RAILROAD |
Connections with the Iron Mountain division of the Missouri Pacific system will be at Potosi, DeSoto and Bismarck.
The proposed railroad will be approximately 300 miles long. Electric power will be supplied by a dam and power plant located on Current River near Rock Springs.
The company will be chartered for fifty years and will do a general passenger, freight, mail and express business.
The territory to be served is one rich in timber and minerals, which is now lacking railroad facilities of any kind.
It is said that the company has made arrangements with castern bond houses to underwrite all securities necessary in financing the project. Officials of the company say that the federal authorities have granted the company permission to issue common and preferred stock, mortgage notes or first mortgage bonds as security. -- Iron County Register.
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