Whilst at Phelps Dodge Corporation, Stokes had involvement with mining in the American West, and after leaving in 1879, he continued his interests by focusing on the silver mining boom town of Austin, Nevada, a place he had visited in 1863.
Most of the mining claims had been consolidated into one company called the Manhattan Silver Mining Co. and they desperately needed a railroad.
 The secretary of the company, M. J. Farrell, became state senator for Lander County and managed to get a railroad line approved, with a bond of $200,000, due to expire in 1880.
The proposal was to run a narrow gauge line ninety three miles along the Reese Valley to connect Austin to the Central Pacific main line at Battle Mountain.
 It was not until Stokes became involved that the project got started with only months left on the bond.
Stokes brought in General James H. Ledlie, a former Union officer in the Civil War, to direct the project, and crews went to work, only to bring the line within 2 miles (3.2 km) of the Austin town limits with less than a day left before the deadline.
An emergency meeting of the Austin Town Board extended the town limits by  2 miles (3.2 km), allowing the last rails to be laid just minutes before the deadline.
The line from Battle Mountain to Austin became the Nevada Central Railway.

On Feb 25th, 1880 Stokes was appointed a Director of the Nevada Central Railway.
In 1881 the Union Pacific Railroad purchased the line, but they lost money and in 1885 it was sold at bankruptcy back to the bond holders who included Anson Stokes.
 In 1888 a new company was formed, now called Nevada Central Railroad.
The line continued to struggle and was closed in 1938.

Stokes had interests in several companies in Nevada and these were incorporated into the Nevada Company, founded in 1897.
 His son, James Graham Phelps Stokes, who had recently finished his education at Yale and medical school, became the president.
 In 1897, when Stokes still had a financial interest in several of the local mines, he built "Stokes Castle", a three-story stone tower just outside Austin for his son.
The building was only occupied for a month, then fell into disrepair.
Whilst at Phelps Dodge Corporation, Stokes had involvement with mining in the American West, and after leaving in 1879, he continued his interests by focusing on the silver mining boom town of Austin, Nevada, a place he had visited in 1863. Most of the mining claims had been consolidated into one company called the Manhattan Silver Mining Co. and they desperately needed a railroad.  The secretary of the company, M. J. Farrell, became state senator for Lander County and managed to get a railroad line approved, with a bond of $200,000, due to expire in 1880. The proposal was to run a narrow gauge line ninety three miles along the Reese Valley to connect Austin to the Central Pacific main line at Battle Mountain.  It was not until Stokes became involved that the project got started with only months left on the bond. Stokes brought in General James H. Ledlie, a former Union officer in the Civil War, to direct the project, and crews went to work, only to bring the line within 2 miles (3.2 km) of the Austin town limits with less than a day left before the deadline. An emergency meeting of the Austin Town Board extended the town limits by  2 miles (3.2 km), allowing the last rails to be laid just minutes before the deadline. The line from Battle Mountain to Austin became the Nevada Central Railway.
On Feb 25th, 1880 Stokes was appointed a Director of the Nevada Central Railway. In 1881 the Union Pacific Railroad purchased the line, but they lost money and in 1885 it was sold at bankruptcy back to the bond holders who included Anson Stokes.  In 1888 a new company was formed, now called Nevada Central Railroad. The line continued to struggle and was closed in 1938.
Stokes had interests in several companies in Nevada and these were incorporated into the Nevada Company, founded in 1897.  His son, James Graham Phelps Stokes, who had recently finished his education at Yale and medical school, became the president.  In 1897, when Stokes still had a financial interest in several of the local mines, he built "Stokes Castle", a three-story stone tower just outside Austin for his son. The building was only occupied for a month, then fell into disrepair.
Anson Phelps Stokes