THE IOWA RAIL ROAD LAND COMPANY
This company was organized in 1869 and its capital stock distributed pro rata among the stockholders of the Cedar Rapids and Missouri River Railroad. The land grant of that railroad company was conveyed to the land company on September 15, 1869. In 1887 the Iowa Rail Road Land Company bought from the Iowa Falls and Sioux City Railroad Company for cash, all of its remaining unsold lands and the bills receivable, and other assets resulting from previous sales.
From time to time thereafter, through consolidation and purchase, all of the remaining real estate and bills receivable of these several land and town lot companies and of the Moingona Coal Company, which were under common control, passed to the ownership of The Iowa Rail Road Land Company.
The Cedar Rapids and Missouri River Railroad was finished in 1867, and the land grant completely earned then. From that time on the officers of the railroad company and of its successor, the land company, for thirty-five years persistently and continuously worked to have this land grant finally adjusted so that the tracts actually granted might be definitely known and the companies receive evidence of title thereto. Their efforts were finally successful in 1902.
John I. Blair was the first president of this company. Horace Williams was president from 1871 to 1872. In 1872 J. Van Deventer, then of Clinton, Iowa, and later of Knoxville, Tennessee, was elected president and remained so until 1889, since which time P. E. Hall has been the president of this company.
Henry V. Ferguson, now vice president of this company, came into the employ of these companies in 1868, and has been continuously in their service since that time. P. E. Hall has been an officer of The Iowa Rail Road Land Company since 1871.
THE TOWN LOT COMPANIES
The Blair Town Lot and Land Company was organized in June, 1871, and took over the unsold town lots and purchased lands along the line of the Cedar Rapids and Missouri River Railroad, and also the avails from previous sales. It was consolidated with The Iowa Rail Road Land Company in 1888.
The Sioux City and Iowa Falls Town Lot and Land Company, organized in 1871 to dispose of the town lots and purchased lands along the Iowa Falls and Sioux City railroad between Iowa Falls and Sioux City, was consolidated with The Iowa Rail Road Land Company in 1888.