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Railroad owner threatens to pull out without $5 million payment
DON LEHMAN [email protected]
QUEENSBURY — The owner of Saratoga & North Creek Railway told Warren County leaders Thursday that he plans to shut down the railroad unless someone buys a northern rail line from his company for $5 million.
Ed Ellis, president of the railroad’s parent company, Iowa Pacific Holdings, said SNCR’s tourist trains will not run this summer unless the county, state or “somebody” is willing to “invest” in his company to keep it functioning.
That investment would entail purchase of the so-called Sanford Lake/Tahawus rail line north of North Creek, and Ellis said $5 million would be what is needed to get the rail company through the end of its current five-year contract. It would allow the company to try to work with a contractor who bought a former mine at the end of the Sanford Lake line in Tahawus with plans to remove stone.