Re: Mt. Hood Rwy For Sale--any freight traffic on the line?
Author: shortline sammie
Date: 07-26-2007 - 23:00
There were several investors in the original Mt. Hood purchase. They received a RRIF loan several years ago to do some maintenance, refinance their original loan and I believe buy the GP? whatever it is.
The upper part of the line is still out of service with what I have heard is 1/2 million dollars to fix. 400 cars of freight doesn't go very far to make the line profitable with the 5+ million price tag.
I'm sure the Mt. Hood is captive to the UP; any lumber/reefer traffic most likely has to be routed UP.
Unless the dinner train, Thomas the Tank and the steam operation is highly profitable, I wouldn't think there will be many takers with only 400 freight cars a year. BUT I MIGHT BE WRONG; Stranger things have happened in the shortline business!!!