. Electric railway journal . rs was toinaugurate a traffic in coal from the Pittsburgh dis-trict via the Ohio River to points in Ohio. The roadpassed through a county seat, with a population of3000 and touched a town of 3500 at the river end, andone of 2000 at its junction with the N. & W. Therewere five other small settlements along its line. Count-ing the surrounding territory, the little road would per-haps serve 12,000 people. It touched the following in-dustries: a large boat yard, three sawmills, a canningfactory, a tobacco warehouse, a brick plant, three coalyards and some fertilizer wa
. Electric railway journal . rs was toinaugurate a traffic in coal from the Pittsburgh dis-trict via the Ohio River to points in Ohio. The roadpassed through a county seat, with a population of3000 and touched a town of 3500 at the river end, andone of 2000 at its junction with the N. & W. Therewere five other small settlements along its line. Count-ing the surrounding territory, the little road would per-haps serve 12,000 people. It touched the following in-dustries: a large boat yard, three sawmills, a canningfactory, a tobacco warehouse, a brick plant, three coalyards and some fertilizer warehouses. E. Lytle, a banker of Cinatoiis, who had personal in-terests in the neighborhod of the Brown line, was theoriginal promoter. He induced a brother, G. Lytle,a banker in a Western state, to interest a Mr. Joyce,president of a bank with a national reputation. Beingfissured that the investment would take care of 6 percent, Mr. Joyce promised his financial support. The company organized with a local directorate, was. CAR WORTH MORE FOR MOVIE SMASH THANON THE LINE capita lized at $500,000,with a bond issue of anequal amount, and a con-struction company wasformed. No expert opinionwas taken as to the prac-ticability of the scheme,nor did any of the threeoriginal promoters makeany thorough investigationor prepare any statisticalstatement as to probableearnings and expenses. Itseemed to be taken forgranted that the mere factof building the railroadwould without other influ-ence create error was also the fundamental error in thecase other short lines in Ohio that have beendismantled with the past two years. It should be bornein mind that, despite all local opinion to the contrary,there was no idea whatsoever on the part of any of thepromoters to enter into any speculative proposition orto make money by the sale of stock. In fact, in the caseof five of the Ohio roads that have gone under, nostock was ever sold. The money was advanced by en-tirely disinterest
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