raises electric attacks
you can ride the magnet train
after you get the magnet train pass use the magnet train
you go to the Pokemon tower
Magnet-ic Magnet-on (also the name of a Pokemon)
iron island.
Iron Island
You can use it to take the magnet train to kanto I think.
nothing...
gift it magnet
You can either find them on some certain Electric-Type Pokemon,like,Plusle,Minun,Magnemite,and maybe Voltorb.I think there is only a 5% chance of it holding a Magnet. Or beat the Trick Master's 3rd Puzzle in the Trick House.the prize you will get is a Magnet. When held by a Pokemon,the Magnet raises the power of its Electric-Type Moves.
saffron city
where you use the key to turn on the quary.