Evening star. [volume] (Washington, D.C.) 1854-1972, 1891-03-27
DIAMOND JOE'S RAILWAY.
Tho Unique One-Man Concern Passes to His
Widow.


From the New York Times.
Diamond Joe" is dead. The news comes to
New York in q telegram announcing application
for administration of estate valued at 81 500,
600 in personally. One item is q half interest
IN the Crown Point mine at Leadville, the CO.
tenant being J. d. Morrissey. Another item is
a railway. probably the only existing one owned
exclusively by woman. But there are funnier
things than that about Diamond Joe's road.
There is no use looking it up in the Investors
Supplement" for the road is not mentioned
there. But on the proper pages of Pocr's
Manual may be found this entry:
not SPRINGS RAILROAD.
President-J Reynolds, Chicago, Ill.
Secretary. Reynolds, Chicago, III.
Treasurer. Reynolds, Chicago Ill.
General Manager. Reynolds. Chicago. Ill.
Information refused. No bonded debt. Capt.
tai stock, 5000 O0O
There are some statistics added in Poor a
Manual, but the most interesting part of the
story Is not there. Mr.. Joseph Reynolds-no
one would have recognized the millionaire when
awe by that name--was physical wreck and
none too wealthy when he went to Hot Springs,
Ark, TO recuperate. As he became stronger he
reflected on the twenty-five miles of sta &c ride
which separated invaiids from the healing waters
and he applied to the legislature for a railway
Charter 1t was granted. and in consideration
Of the limited traffic he was authorized to
charge 10 cents mile until the road reached
Hot Springs. Strangely enough the road was
very slow IN reaching Hot Springs, and the fare
continued for over a dozen years to be 10 cents
a mile to point just in easy reach OF the town
limits.
Eut the suspicion grew that the road was
making too much money. and the heartless
legislators about 1885 compelled the compile
ton OF the road and reduced the fare to cents
a mile. Even at that rate the road is sup
posed to net about 100000 annually on a cost
to build Of $500, 600. so that the fact that the
road is probably the only one in existence
without one bond outstanding is no. very sur
prising.
ltwas also to be expected that Diamond Joe's
envlous neighbors should covet such a gold
mine So 1t was quite in the course Of nature
that the Memphis and Little Rock should under
take to parallel it. But the Hot Springs rail-
road escaped being choked or swallowed by
enilstlng as Its champion llr. Jay Gould. Mr.
Goulds Missouri Pacific system includes the
Iron mountain. which connects with the Hot
Springs Company. Rival roads would divide
the business, and Mr.. Gould dearly loves mo-
nopoiles, of which he has a share. So there
was race OF surveyors and fight in court
with the result that instead of there being
three roads to Hot Springs there is still only
one.
Considering that Diamond Joe started his
business career by earning 81 day as a bark
peeier it must be admitted that fate used him
not unkindly He and his surviving widow. nee
Morton, were both natives of Thunder Hill
Sullivan county, n. Y He made his first none =
by saving his wages; then he took contracts to
supply bark to the same tannery where Jay
Gould graduated before he began tanning hides
In Wall street. He borrowed money from the
same man who started Jay Gould in life to wit.
Zadoc Pratt, who began steamboating on the
Mississippi. Soon he owned fleet, and &C.
CURED experience which enabled him to specu-
late IN grain 1t was after one of his rouads
with the wheat-pit tiger that fate brought to
him the chance to build his unique railroad.