Omaha daily bee., 1914-03-23
PROJECT ALREADY FINANCED
Four Hundred and Twenty Miles of
Road to Be Constructed.
WORK TO START BY JUNE NEXT
Road to Run to Sioux City and One
Branch to Norfolk.
BIG POWER PLANT AT NIoBRARA
Thirteen Million Dollars is to BE
Expended I'm Constructing and
EGuippinE the Road and
Developing Power.

That construction work on the 42O miles
of the Niobrara, Sioux City & Omaha
railroad, promoted by the Baker Con-
struction company of Omaha will begin
not later than June of the present year
is now believed to be certain. That work
when commenced will be pushed as rap
idly as possible is equally certain.
At this time there is said to be but one
thing that stands in the way of the con-
struction and completion or the Niobrara,
Sicux City & Omaha railroad, and this
is not an obstacle, being merely a mat
ter of form.
In order to construct the Niobrara,
Sioux City & Omaha road. funds must
be procided and it is estimated that
sl3,OOOOOO viii be required to build and
equip the line and construct the power
plant at Niobrara, where the Niobrara
river will develop 5000 horse power, or
some 5000 more horse power than is
used in the aggregate in the city of
Omaha at this time.
In order to raise the S13OOO,OOO that will
be required to build the line, equip it
and develop the power and construct the
power plant it is necessary to issue and
sell bonds. Before bonds can be issued
the whole project must be gone over by
the Nebraska State Railway commission
and authority granted. The proposition
is now with the commission and has gone
this far. Contracts, bonds and all of the
formalities have been investigated and
a proposition satisfactory to the COM
mission, fully protecting the rights of
the people OF Nebraska and complying
with the law In every particular put up
to the state officials and the fiscal
agents Of the company. The terms have
kaVafa raaI
to. This has been sent east to the fiscal
agents for their signatures, and as soon
as it is returned and approved by the
state commission. It is expected that the
order autirortztng-tho sale OF bonds and
stock will issue.
FinancIers Satisfied.
That money for construction will be
available Immediately after the issuance
OF the commissions order is said TO be
certain, it being asserted that eastern
financiers, after having looked over the
project and the property, are ready to
underwrite 1t for the amount needed.
1t is expected that details will all be
worked out within the next ten days or
so and that soon after that grading con-
tracts will be let
C. w. Baker president of the Baker
Construction company that is promoting
the new railroad proposition, has just
come in from a trip over the line and
says that as soon as the money is avail
able for construction work will begin.
Surveys have all been completed and
much of the right of way secured. He
has been working on the project five
years and now feels that he is about to
see his efforts crowned with success.
As to the Niobrara. Sioux City &
ha 10 10 al
line with an overhead trolley system. 1t
will be independent, having no connec-
tion with any other railroad or system
OF roads The plans contemplate a line
from Omaha to Elk City and thence on
to Norfolk, with a branch from Elk
city to South Sioux City, from South
Sioux City to Nlobrara and from Mo
brara to O'Neill, with a cross line from
West Point to Decatur.
The plans of the company contemplate
the expenditure of Sl,0OO.OOO 10 s1.50O. 900
I'm Omaha on terminals and a passenger
and freight depot the site Of which has
not been decided upon though it has
been determined that these terminals
must be near the business center of the
city. Omaha, however, has not been
asked to contribute anything, nor have
the, capitalists here been asked to sub
scribe to the stock, or buy TIN. DOnds.
This financing has and Is a. peIDg done
in the east.
Both Freight and Passenger.
The new road will do both freight and
passenger business. When in operation
passenger trains will run to Sioux City
Norfolk and Niobrara as often as thC
business may demand. On all through
night trains sleepers will be run between
terminals In handling freight, trains
will not only stop at towns. but at coun-
1cnntInmna On Ilaaa ,r,un