Fascinating! I am guessing that the brine variable resistor was not directly in series with the supply to the motor. They may have used a wound rotor induction motor, with brushes, a technology which used to be (and probably still is) used on cranes etc. Full power is applied to the stator winding, and the rotor resistance modifies the speed without reducing the torque very much.
From what I remember, a particular example (using conventional wire wound resistors and contactors to change the tappings) would lift its load at 5.5 feet per minute in the first notch, increasing to 131 feet per minute in 5th. Motor around 40hp, resistors dissipating no more than 3 or 4 Kw. Give it a continuously variable 3-phase resistor network and you would get reasonably progressive speed control.
But I am intrigued by the low voltage. The thing would have been drawing about 100 amps, and the voltage drop in the two overhead wires, and the vital return path through the rails, would have been quite considerable. And they ordered ten, presumably all possibly operating simultaneously.
Perhaps just as well that they went bust.
But the overhead clearance would only need to be an inch or so, with AC at such a low voltage, if they used rigid conductors in the tunnel.