timber necessary for the project. Failure Although the IR&HB completed the line between Champion and Huron Bay and purchased two 4-8-0 "Mastodon" steam locomotives from the Brooks Locomotive Works, no trains were ever operated. Reference Barnett implies 35 miles in his calculations; Dompier claims 42 miles, as does the Times article cited below. The completion of the line coincided with the Panic of 1893, which reduced the demand for iron ore. Additionally, the ore mines around Lake Michigamme – which the IR&HB had intended to serve – began to play out. There were richer mines in Ishpeming to the east, but the IR&HB lacked the wherewithal to construct such a line, which would have spanned . In places, the IR&HB line exceeded a grade of 5%, which would have made the haulage of freight difficult. For a standard-gauge non-rack rail railroad like the IR&HB, 3% was "excessive" and anything over 4.5% was unheard of. Some sources claim the IR&HB exceeded 8% in places. A test run was done with one of the newly delivered locomotives. A number of internet sources cite differing times, lengths of travel, and the outcome. A fair use quote of the 2 M ride page from Sam Beck, a railroad watchman: “As the last eleven miles of the road were downgrade, we decided the uphill run from Huron Bay would be a good test. I was in the cab with the engineer and we had proceeded just a short distance up the grade when the railroad gave way and we went into a ditch.” “From that moment on, the Iron Range and Huron Bay Railroad ceased to exist as a railroad!” Several local historians assert that this ride never happened and was just a story. By 1893 the IR&HB found itself in serious financial difficulties. In 1890 it had begun with $1,400,000 in capital through an initial stock issue coupled with the sale of bonds. Additional bonds worth $600,000 were sold to cover construction overruns and keep the railroad afloat, but its debts mounted. Finally, in 1900, the company's owners sold it outright to the Detroit Construction Company (Frank C. Andrews, John Winter, and Dr. Lau) for $110,000. Legacy Following the sale, the Detroit Construction Company dismantled the entire line. The 67 pounds per yard rails were re-used in various interurban schemes in the Lower Peninsula, including the Grand Rapids, Holland and Lake Michigan Rapid Railway