It had been begun, but in the panic of 1893 it and all other developments were nearly ruined.

Although we were minority holders of the stock, it seemed to be "up to us" to keep the enterprise alive through the harrowing panic days.

I had to loan my personal securities to raise money, and finally we were compelled to supply a great deal of actual cash, and to get it we were obliged to go into the then greatly upset money market and buy currency at a high premium to ship west by express to pay the labourers on the railroad and to keep them alive.

When the fright of the panic period subsided, and matters became a little more settled, we began to realize our situation.

We had invested many millions, and no one wanted to go in with us to buy stock.