Show TUNNEL PROJECT WELL RECEIVED Moffat Road Plan to Pierce Mountains Instead instead x of Scaling Them Arouses Great Enthusiasm The publication exclusively In TilE THE TELEGRAM I. of oC the plans to pIerce James peak in Colorado so as to permit a twelve hour schedule on the tho Moffat road between Denver Den and this city caused great grent enthusiasm on tho the part o of business men hero here That time project will mean much to Salt Lake City is agreed The following dispatch showing tho the progress being made mado In furtherance o of the tho plan was received from Denver this morning The project of ot tho the Continental Tunnel I company compan for tor building a n. six-mile six tunnel through James J peak received three Important Im Im- Im I portent Indorsements this morning Thomas F F. Walsh said laId nt fit Wolhurst I 1 have havo told lold Herbert Georgo George that I will take a a. substantial financial interest in the bonds o of the tho company when the tho matter Is matured I think this thiN project of ot cutting the tunnel and so putting putting- the Moffat l roa road on a short and direct route to Salt Lake Lake CIt City is tho the most momentous thir that has ever r been thought of ot for the intermountain inter inter- mountain country The fact tact that the completion t fIr if f tho the Moffat road rond has met with eu such euch h strenuous opposition In New York I Is convincing evidence evidence evi evi- evi- evi dence to me that this road will revolutionize the railroad situation between coast and con coast st st. From an engineering point of ot view It seems to mo me that the tun tun- n nel ud 1 quite Is practicable and from what hat I know of the country to be drilled d I think that tho work ork will not be difficult ne Regarding the nature o of tho the security to be given tho the bondholders of ot the Continental tal Tunnel company David H. H Moffat said Mid The bonds issued b by the com company company v any will wm be secured b by tho the guarantee of or the thc Moffat l road and a n general lien Hen on the assets of ot the road As tho the road has already cost and construction is now beginning beginning begin begin- ning from li-em the Salt Lake end of ot the tho fin l the mar margin ln of oC security it otters offers for worth orth of bonds is 18 ample Considering tho the project from a financiers financier's finan Onan- cier's ciers point of view Charles Benton tho the Denver member of or tho the stock broking firm of on Hammill Co spoke enthusiastically Hammill Co are aro members o of tho the stock exchanges of ot Ne New York Chlea Chicago o. o New ew Orleans and Liverpool Mr Whitehead said sald If this Continental Tunnel company compan receives the tho reasonable support of oC capitalists capi capt- there Is no doubt In UI my mind but that the tle bonds will wilt find a n. very vor ready mark mar mar- k ket t. t The security propos proposed cd for br or the tho bonds will wilt give ghe them a gilt edged character and fin fine standing st as profitable investment stock Tho The Continental Tunnel company Is a stroke of ot genius |