OCR Text |
Show jUIAH MUST ACT ' I TO GET INTEREST IN HOFFAt ROAD Commercial Club Governors Govern-ors Will Consider Case Next Week. The board of governors of the Commercial Commer-cial clulj. will meet next week, at which time ths position of the club towards the furthering of the building of the fjenver. j Northwestern Pacific, better known as the Moffat road, will be considered. The Huh js already on record as favoring tne building of the road and lt early completion comple-tion to thla city, but at the forthcoming meeting a new matter will be conaldered. While the announcement has been made. that the newly organised company enpecta lo be able to finance the completion com-pletion of the road from Steamboat Springs to this city and that It expect" to commence work aa soon aa plana are completed, there la a growing sentiment rn t'tah that the people of thla state should have somelhlng to say In the road, as It will mean so much to this state. It Is Intimated that should the road be built entirely without rtah capital tne Colorado atockholdera will be at least partly JuetMed In trying to turn every bit of huslnesa to their gain and to the disadvantage of Salt iJiae City and .Utah. Upon good authority Is may be said that the present officers of the road do not care to "hog" the whole tiling; that they are willing to let I'tah people take a hand In the building of the llnef they so derlre.'hut ir not. "Ths mad -win e built without the assistance of Utah peo- P,Ths distance of the proposed road from Salt Lake City to the Oreen river Is approximately ap-proximately 185 miles. The estimated cost of building thla part of the road la tlS.OOO.Ooe. It Is aaserted that If the people peo-ple of Utah' will subscribe for 81.000.000 of this amount there will be no trouble In oatlng the bonds for the other 14.000000 In Europe or the east, but that In order to secure the four-fifths of the bond issue is-sue from outside of Utah It will be necessary neces-sary for the people of this state to show that they have faith In tlie project: that they believe In their own atate and Its resources, and that they are willing to back their faith with their money. It Is said that ahould the people of Utah decide de-cide to take one-fifth of the amount necessary nec-essary for the completion of the road from Oreen river to Salt I-ake City there will be no question of disposing of the. rest of the bonds, and that Utah will have one or more representatives on the board of directors of the new short Une from Uenver to this city. The question of the amount of capital capi-tal etock will be one thai will likely be carefully conaldered by tlfe board of governors gov-ernors of the Commercial club should they decide to lend their moral support lo such a plan. It haa been euggeeted that Inatead of making the par value of etock 81000 a share that It he made 100 a share, and that In many caaea the purchaser of the stock be allowed to furnish fur-nish his labor and teams In thsrT'rTristruc-tion thsrT'rTristruc-tion of the road aa payment for his stock. It la aaserted that If thla plan la followed snanr men In eastern Utah would be only too willing to subscribe for several shares of stock, and that Instead of having one booster for the road with a share valued at 81000. there would be ten boosters. It Is also said that there la scarcely a section sec-tion In Utah through which the road would pass that there are not from one to nfty men who would be willing to take stock at the per value of 8100 a ahare. who would not feel that they could afford af-ford to take stork at 81000 a ahare. While no dennlte announcement haa yet been made by Colonel Uodge. the new head of the road, aa to what the policy will be. Colonel Dodge la already on record rec-ord that be would rather bava ten stockholders stock-holders holding shares at the par value of 8100 than one stockholder holding one share at 810.000. He haa supplemented this statement by saying that ten men would be better boosters for the road than would be one man. and that their Influence and moral aupport would be more valuable than would that of but one man. At the meeting of the hoard of governors govern-ors of the Commercial club these questions ques-tions will b discussed and thrashed out It la confidently predicted that the club will back tha movement to have at least a part of the road owned by Utah people. |