Rensselaer Semi-Weekly Republican, Volume 20, Number 4, Rensselaer, Jasper County, 16 September 1898 — Chicago & Wabash Valley [ARTICLE]

Chicago & Wabash Valley

Is The Name Under Which Gifford’s New Railroad Is Incorporated. B. J. Gifford's new railroad has been incorporated, and the articles of incorporation were filed in the secretary of state office, at Indianapolis last Saturday. The Indianapolis Journal of Sunday has the following interesting, though not wholly accurate account of Mr. Gifford and his land and railroad enterprises: Among the articles of incorporation filed with the secretary of state yesterday was that of the-Chicago cfc Wabash Valley Railroad Company of Jasper county. Behind the incorporation there is a story known to but few people except those living in the counties adjoining Illinois. B. J. Gifford, who is the prime mover in the railroad scheme, some years ago bought up all the.swamp land around Kankakee, 111., for a soug, and by energy and skilt drained it until he had brought it up to a high state of productiveness. This netted him an immense sum which he, about five years ago, invested in waste land around the huckleberry marshes of Jasper county. Here he again set to work to drain the country and established a colony of workmen, which in time became known as “Gifford’s ranche.” With every 100 acres of land he reclaimed he set up a complete farm, thoroughly equipped, and rented it to tenants at a nominal figure. For over four years he has constantly kept three big dredges at work, agd now has the ground nearly drrifefl and in condition for crops. In establishing his colony he found that railroad facilities were needed to ship the products to the city markets, and with his usual energy set to work to construct his own railroad. The line does not connect at terminals with any other railroads, but starts in the northern end of the swamp 3 of Jasper county on the line of Porter county and crosses the 1., I. & I. road a few miles below. Continuing southward it crosses the C. & I. C. railroad and then strikes off soutliwestward to nearly the southern boundary of Jasper county. Iu this manner the entire tract will be tapped and drained for railroad purposes from both ends to a connecting point fTf the center. The capital stock of the road is $50,000, which may bo increased by bonding up to a figure not to exceed SO,OOO a mile. The j road will be twenty-three miles j long and will be owned by the fol- \ lowing incorporators: Benjamin A. j Gifford, James E. Jones, Harian M. Stone, Charles D. Henry, John > B. Reed, Edward D. Calkins and Charles B. Campbell.