News of the year 1913 of the Midland Pennsylvania Railroad is presented here as reported in area newspapers.
For all previous articles on this doomed project, see: Midland Pennsylvania Railroad.
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From the Harrisburg Patriot, 13 February 1913:
FINLEY ACKER, ORGANIZER OF MIDLAND RAILROAD, DEAD
Special Dispatch to The Patriot
Philadelphia, 12 February [1913] – Finley Acker, known throughout the upper end of Dauphin County, as the “Father of Lykens Valley,” because of his interests in that section, died here at noon today, after an illness of eight weeks. Death was due to kidney trouble. He was aged 55 years.
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From the Harrisburg Telegraph, 22 February 1913:
Midland Railroad Officials Meet
A meeting of the Midland Railroad officials was called at Bowman’s Hotel [Berrysburg] on Thursday….
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From the Harrisburg Daily Independent, 24 February 1913:
Promoters Inspect Work On New Midland Railroad
On Friday morning a party of men interested in the completion of the Midland Railroad started over the route from Millersburg to Ashland, inspected the road. It is believed that their visit will mean the speedy completion of the line.
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From the West Schuylkill Herald, 28 February 1913:
Foreign Bankers Inspect The Midland Railroad Route
Representatives of French and Spanish banks went over the proposed line of the Midland Pennsylvania Railroad Friday, for the purpose of investigating the feasibility of a railroad, as proposed. They are Isidore Padraza, of Paris; P. Charace and J. Boladeras of Barcelona, Spain; A. S. Bandler, of New York City; John B. Lear, Philadelphia; and Clark Cooper, of Millersburg. They made the tour of the line in auto cars.
Mr. Cooper is the superintendent of the road. He stated that the foreign visitors are well pleased with what they saw.
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From the Reading Times, 4 March 1913:
Foreign Cash for New Railroad
As a result of a visit of French and Spanish bank representatives to the proposed route of the Midland Pennsylvania Railroad, which will pass through Schuylkill, Dauphin, and adjoining counties, it is said a favorable report will be made to foreign financial institutions which will result in heavy investments in the securities of the railroad company. It is expected to raise a sufficient sum of money in this way to complete the road, which runs through rich agricultural and coal lands.
The visit of inspection was made by Isidore Padraza, of Paris; P. Charace and J. Boladeras, of Barcelona, Spain; A. Bandler, of New York; and John B. Lear, of Philadelphia. Superintendent Clark Cop Cooper, of Millersburg, accompanied the party.
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From the Delaware County Daily Times (Chester, Pennsylvania), 21 March 1913:
Orders for Baldwins
Among recent orders received by Baldwin Locomotive Works were… one eight-wheel passenger locomotive for the Midland Pennsylvania Railroad.
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From the Harrisburg Patriot, 19 June 1913:
HOPE THAT RAILROAD WILL BE BUILT SOON
Residents of Lykens Valley Hope That Midland Will Be Constructed Between Millersburg and Gratz
Gratz, 16 June [1913] – Hopes that several of the men who underwrote the $2,000,000 for the construction of the Midland Pennsylvania Railroad, will take the matter into their own hands and complete the road from Millersburg to a point here this summer, cling to the residents of the Lykens Valley.
It is semi-officially reported here that work on this section of the line will be started soon, and that the affairs of the road, which were reported to be pretty badly muddled, have been straightened out sufficiently to resume construction.
Because of a pretty deep cut just west of this town that was never completed, it is thought that the rails can be laid to a point known as Westmont. Upon this line, it is said, four trains will be run daily.
Whether or not the proposition made to the French capitalists to finance the remainder of construction work, will go through is not yet known, but it is said, that if it can be bound down to contract, the railroad will be built and more than forty-four miles of it, the distance the present plans call for.
Joseph F. Romberger, a vice president of the company, and who is the only man in the Valley, who is still on the railroad’s board of directors, is optimistic as to the outcome of the project. He says he feels pretty sure that the road will be started again this summer, and that sufficient financial backing will be on hand again to insure its completion.
The road is ready for the laying of the rails, the bed having been completed between here and Millersburg. Most of the cross-ties and rails have been purchased and are laying along the roadbed to be put down.
Other organizations that were formed for the purpose of developing the territory drained by the railroad seem to have gone by the board for the present, and will probably not be reorganized again until work is resumed on the railroad.
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From the Harrisburg Telegraph, 1 July 1913:
The Midland Pennsylvania Railroad has filed notice of increase of debt from $2,000,000 to $10,000,000.
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From the Evening Journal (Wilmington, Delaware), 8 July 1913:
B. DUNCAN JR., TAKES OVER DUNCAN HARDWARE BUSINESS
The Duncan Hardware Company, No. 214 Market Street, has passed over to Henry B. Duncan Jr., as owner and proprietor, who hereafter will conduct the business. The business was established in 1803, and has been conducted by the Duncan family continuously since then.
Henry B. Duncan Jr. was associated with his father, Henry B. Duncan, in the business from 1906 to June 1911. He was private secretary to W. E. Harrington, president of the Midland Pennsylvania Railroad, in Philadelphia, for awhile, and for a year had charge of the accounting department of the Simmons Hardware Company, in Philadelphia. Mr. Duncan is well qualified for the business by his experience. He attend Lafayette College and the University of Pennsylvania for three years before entering active business.
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From the Harrisburg Patriot, 21 August 1913:
PLANS PROGRESS ON FINANCING OF THE MIDLAND
Expected That Work in the Lykens Valley Will Be Started in the Fall
GET AID FROM EUROPE
Expect That Foreign Bankers Will Build Remainder of Road
Special Dispatch to The Patriot
Philadelphia, 20 August [1913] – Plans are progressing favorable for a refinancing of the Midland Pennsylvania Railroad, and if negotiations are carried to a successful termination work will be resumed in the fall. The local capitalists who projected the road through the Lykens Valley and who gave it their moral and financial support, are now enlisting the cooperation of financial interests.
Representatives of the road during the past year have conferred with foreign bankers and the bankers have sent men to this country to look over the field and see what the prospects are. If the foreign interest do join in the movement the road will be projected on a much greater scale than first intended and in anticipation of this the company recently made application to the State officials for authority to increase the bonded indebtedness from $2,000,000 to $10,000,000. Joseph DeF. Junkin, general counsel of the company, went to Europe several weeks ago and while there met the financial interests who have been invited to join the company.
Ready for the Rails
Of the original authorized issue of $2,000,000 five per cent 50-year bonds, there has been issued $812,000 and with few exceptions these bonds are in the hands of the original subscribers. This money has been used in purchasing right of way, grading, acquiring rolling stock, ties, rails and paying expenses of organization. Actual work of construction was stopped in November 1911, and up until that time about fifteen miles had been graded and the company has sufficient ties and rails to lay this stretch of track. In addition the company owns two locomotives and ten cars, including passenger and freight.
The road as originally proposed was to be 44 milers long and to connect Millersburg, in Dauphin County, with Ashland, in Schuylkill County. The proposed line runs through the fertile Lykens Valley, in which are located many prosperous farms. The valley is wide at the Millersburg end and tapers as Ashland is approached. It is hemmed in by two mountain ranges in which are valuable coal deposits, some of which are owned by independent operators, but are not being worked at present owing to lack of transportation facilities. The farmers in this valley also carry on a unique cattle business. Steers are shipped to the farms from the West and the farmers fatten steers, receiving $35 per head for the season. In the spring, the cattle are s shipped to market. The management of the Midland Road believes that the cattle traffic alone would amount to a goodly sum in the course of a year. Engineers estimated that three years after the completion of the road, it would earn the interest on his authorized indebtedness or $100,000 annually above all operating costs.
No Receivers
Although the company defaulted in the interest on its bonds more than a year ago, there has been no application for receivership as the present holders of the bonds are original subscribers and they are in accord with the efforts of the management to refinance the project. This strengthens the position of the company in undertaking and financing in the present condition of the money market. The local interests in the company include men of affairs in this city who are prominent in financial and mercantile fields and who are bending every effort to successfully carry out the plan to give Lykens Valley a rail outlet to the markets of the State.
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From the Harrisburg Daily Independent, 21 August 1913:
MORE MONEY FOR RAILROAD
Foreign Capital Now Being Interested in Upper Dauphin County Project
Philadelphia, 21 August [1913] – The Lykens Valley may yet be tapped by the Midland Pennsylvania Railroad if the plans for the financing of the company go through. European capital is now being interested in the road and the backers hope to secure enough money to finish the work which was started several years ago.
The road will have a terminal at Millersburg and will be 44 miles long. The proposed line will run through the fertile Lykens Valley and will be able to handle much coal from nearby mines. The other terminal will be located at Ashland, Schuylkill County.
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From the Philadelphia Inquirer, 22 Aug 1913:
Joseph deF. Junkin, General Counsel of the Midland Pennsylvania Railroad Company, who went to Europe to interest capitalists there in the company, has returned home. As a result of Mr. Junkin’s short visit abroad, a party of foreign capitalists will come over in September to inspect the property, with a view to financing it. The road is 43 miles long and extends from Millersburg to Ashland in this State. Fifteen miles of the road have been graded.
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From the Harrisburg Patriot, 23 August 1913:
FOREIGN BANKER TO BE HERE NEXT MONTH
Special Dispatch to The Patriot
Philadelphia, 22 August [1913] – Joseph DeF. Junkin, general counsel of the Midland Pennsylvania Railroad has returned from Europe where he went several weeks ago in an effort to enlist foreign capital in the railroad project. As a result of the trip the foreign bankers have agreed to send agents to his country in September to look over the field and see what prospects and opportunities for investment and profit are offered. Agents of the bankers have already visited this country in connection with co-operating in financing the construction of the road from Millersburg to Ashland and previous visits have been made to Europe by representatives of the railroad company. Some definite statement as to the plan of refinancing the company and of enlarging the original project may be made following the foreign financier’s visit.
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News stories from Newspapers.com and from on-line resources of the Free Library of Philadelphia.
Corrections and additional information should be added as comments to this post.