Jasper County Democrat, Volume 10, Number 18, Rensselaer, Jasper County, 3 August 1907 — GIFFORD ROAD LIKELY TO BE SOLD SOON. [ARTICLE]

GIFFORD ROAD LIKELY TO BE SOLD SOON.

The C. I. & 8., railroad people —the New York Central lines which now run over the old ThreeI in northern Jasper—have not as yet closed a deal for the Gifford road, but will likely do so soon The price and terms for the 42 miles now completed has been agreed upon, it is understood—s46o,oo0 —of which Mr. Gifford is to receive one-third cash and twothirds stock. The annual meeting of the Gifford road stockholders was to have been held last week, or July 25, but Mr. Hotchkiss of the Central lines asked that it be put off sixty days so that he could be present. It is probable that the deal will be closed up at this meeting. If this company gets hold of the Gifford road it is reported that it will be extended south to the coal fields and north to Gary. The way Mr. Gifford has built his road it has not cost him a very large sum of money and he will realize a nice profit no doubt if he gets 'the price above stated. By the way, Gifford seems to be coming out all right on his land investments here. Up to last Saturday he had disposed of 6,740 acres, for $377,800 and about $65,000 more will let him out of debt. That is, he will have enough owing to him with the cash received to cover every dollar he owes on the land, and be will have some $25,000 acres of land and the railroad clear, worth in the neighborhood of $2,000,000.