He purchased a  stretch of the Jacksonville to Palatka Railroad and a railroad company in anticipation of building the Jacksonville, Tampa & Key West Railway. However, it construction plans were so challenging that his backers withdrew, leaving Coleman to fund the railroad on its own.
He purchased a segment of the Jacksonville to Palatka Railroad and a railroad company in anticipation of establishing the Jacksonville, Tampa & Key West Railway. Nonetheless, the intricacy of his construction plans caused his investors to withdraw, leaving Coleman to support the railroad financially.