Jasper County Democrat, Volume 8, Number 18, Rensselaer, Jasper County, 29 July 1905 — GIFFORD RAILROAD PROJECT. [ARTICLE]

GIFFORD RAILROAD PROJECT.

New developemnts are being made in the Gifford railroad project that gives promise of speedy construction of the line through Lake county. The annual meeting of the stockholders will be held at Kersey on July 27, at which time a proposal will be made to issue bonds in the sum oj v $6,000 per mile, for each mile constructed. These bonds will not be put on market, but will be used as collateral to secure a loan of at least $3,U00 per mile. The money thus raised is to be used in completing tbe line as far as Hartsdale, where it will connect with the Indiana Harbor railroad. Mr. Gifford has 33 miles of road in successful operation. Work is now being pushed along on this side of the Kankakee by means of dredges as fast as possible. They are now nearly up to the Singleton ditch, and the dredges will probably be used another mile or so, before getting out of the marsh where teams and scsapers will be necessary to complete the work. The entire right of way to Hartsdale has not been secured.—Hammond Tribune.