I don’t think 2mil is a ridiculous sum these days to restore such a locomotive to service. The work to be done is extensive. I know roughly how much it cost to rebuild an ex army 0-6-0 and it’s a much smaller, simpler machine.
This project has at least one thing going for it, that would be the chosen restoration contractor. I dare say, if some other prominent large restoration projects had chosen SRC at the beginning, those engines would be operational and the sum spent would be far less than the accumulated total cost of numerous failures.

My concern is still this: in six months, $22K has been raised. That's no small sum. But you need to raise 1.75 million in six years. Something has got to change somewhere. Some massive grant, or a white knight coming in to save the day with a large chunk of change to cover a not-insignificant chunk of those remaining costs. I will continue to support it and donate, but seeing that with a renewed effort from both Strasburg and RMLI nets only $22K in the last six months...yeesh.

$22K is substantial, and holding that figure up to a completion figure makes it look much smaller, but consider the way people are responding and I'd offer the quip, "Success brings success". We've all seen it.

The other consideration noted just prior to BigJim's post is, consider who is doing the restoration work, where it's happening, and what it represents. Strasburg doesn't need to add locomotives at the present, but consider the locomotive, the design, the purpose, how it served all its running life. Talk about true love! A match made in heaven!

I have donated to each of the Pennsy rebuilds; the K4s, the Oyster Bay G5s (sister 35), and T1 5550. I'm a hearty advocate for restoring PRR and LIRR steam. I'll be donating to each at least once more. It can be as little as $20 or as much as you choose. Point is, the figure is climbing steadily.

There's big competition for donations but I ask everyone reading this, please become a positive part of a positive effort. An don't forget the "Jay Leno's Garage" personal tour! Get involved in one of the best steam receptions of a perfect marriage.

I came across a restoration in the UK that that has a lot of overlaps with the RMLI/Strasburg situation. There is a group in the UK that has been restoring an LMS/BR Black 5 45163. The Black 5 is in many ways the UK equivalent of the PRR G5. It's a Belpaire boilered late model 4-6-0 that was capable of performing just about any job the railroad could assign it to. After 30 plus years of restoration work they were still a long way from completion. Riley & Sons, a very well regarded steam locomotive restoration company that also leases out locomotives to various heritage railways and mainline operators, approached them and a deal was made. https://www.railadvent.co.uk/2024/07/mainline-return-for-black-5-steam-locomotive.html

I know that the UK heritage railway environment is different than it is here but the terms of the agreement are strikingly different than the RMLI/Strasburg.

39/Strasburg - RMLI pays for over 45% of the restoration cost and Strasburg keeps possession for 48 years.

46163/Riley & Son - Riley pays entire cost, including adding the required equipment for mainline certification, and retains possession for 25 years.

Both agreements end with the locomotive being returned in working order.

Hence the "white knight" portion of my post. Look at C&O 614. The locomotive sits for a fair number of years in Clifton Forge, awaiting it's next call to service. Next thing you know, news comes out that not only is the locomotive going to be restored, but the principals involved already have the money to have it fully restored, within two years. There's a proverbial "white knight" in there too.

Is it impossible to raise the funds otherwise over the next six years? No. Have I donated to the cause? Yes! Will I continue to donate and cheer them on? Yes! But I'm hoping something or someone comes along to provide a major boost as well.

The thing to keep in mind is that Riley and Son are not a White Knight. They are a business that has done the math and decided they make more than the cost of the restoration in 25 years.

It's pretty clear Strasburg's earnings from their locomotives must be substantially less given the term of the lease.

I do hope the money can be raised, as seeing #39 operating at Strasburg would be fantastic, but it is a tough hill to climb.

There exists an ENORMOUS difference between the North American and UK steam environment.

In the UK, there is a ready-made market for a restored Stanier Black Five in mainline-certified condition. Not only can it go from heritage railway to heritage railway on its wheels as a "guest loco," it can also be used on relatively common weekend mainline steam charters, or the well-known West Highland Line steam runs. There is indeed the prospectus of "earning its keep."

We don't have that "luxury" in North America. We already have too many big locos "all dressed up with no place to go." We would need the likes of the Grand Canyon Railway running steam daily (not gonna happen), the Rocky Mountaineer or Rio Grande Ski Train switching to steam power (off brand), The New River Gorge Trains resuming with steam, Steamtown NHS hosting regular guest loco visits and excursions, AND a few more Reading & Northerns scattered across the nation.

In order for the "Riley" economic model to work with 39, it'd have to be running occasional weekend excursions on Long Island, visit Steamtown, maybe go to the Reading & Northern and Black River & Western for a spell, maybe Carbondale and Everett, the New York & Long Branch, some fundraising trips for 1361 and the T1 group on the Nittany & Bald Eagle near Altoona, a couple Horse Shoe Curve turns, maybe day trips from Harrisburg to Altoona, rare-mileage trip over Keating Summit...........

Now, all of this presumes that the British rail network continues to be FAR more steam-receptive than North America has been of late, for the next 25 years. That's something of its own crap-shoot.

Something else to point out re: the amount raised that people are forgetting is that this project had sort of struggled with their social media presence. They’ve really upped their game on that matter.

A comparison between 39 and 614 is not apples to apples. 39 is owned by a non-profit museum who inherited the problems of previously failed project management on this engine while the 614 is owned by a private and very well funded group that does not need to fundraise for their restoration. Couple 39's previous with a tight budget and this is what you have. I can tell you when compared to other organizations the organic fundraising of 22k over 6 months is quite impressive. Where 39 lacks is the big benefactor, however, given the Railroad Museum of Long Island just started putting the renewed efforts into effect this spring let's see what they work out over the next couple of years.

It may seem like "small ball" right now but after struggling RMLI is showing off excellent efforts. Nothing happens overnight, we can armchair quarterback this for a week but the only thing that makes a difference is effort. All it takes is catching the eye of one person to turn hopes into reality and they already have Jay Leno helping.

-Tim

Considering that the scale up due to inflation is over 84k between 2026 and 2027, at this rate they are getting further from their goal. Hopefully they can find a large benefactor.