Show MOFFAT RAILROAD IS NOW FINANCED Line Will Be Constructed to to Salt Lake as a a Result of Reorganization Plans Special to The Heral Herald Denv Denver r Oct 14 By H. By the reorganization tion of ot the Denver Dener Northwestern Pacific Pacific Pa Pa- Railroad company effective today and aLd with tho the road earning the interest on its bonds as it is Is I have no doubt that it will not be a difficult t matter for tor U Us to secure the mon money y needed to complete the roa road to Salt Lake as originally originally orIS Intended This statement was made b by William WilliamG G Evans president of the Moffat l road after alter the annual stockholders stockholders' ers ers' me meeting this at nt which the capital stock wa was doubled double and bonds aggregating were authorized to take the tho place of ot the tho authorized and outstanding and to provide funds for forthe forthe the extension o of the roa road tenths Nine-tenths of ot the issued capitalization tion was represented at the tho meeting and all the old directors were re re- elected These were William G. G Evans Fred G. G Moffat Gerald Hughes S. S M MI IJ Perry John F. F Campion Camplon Charles elmer cher and D. D C. C Dodge In Imi explaining the new financing of ot the present outstanding Indebtedness I Mr Ir Evans Eans said It Is proposed to give I Ito to each holder each holder of or a 1000 bond one first Clest and refunding 5 per cent bond and one 6 per cent Income bond O Of the former we voted to authorize and of ot the latter class 8 8 This applies to the of or bonds of Clr the compan company held b by In- In tors an and to th the tho held neld as ns security for tor the loan ionn made mad by Hallgarten CoIn Co CoIn CoIn In this way we give to each bondholder bond bond- holder a better rate late of or Interest s the present bon bonds s bear only 4 per cent The list fizet and refunding bonds will draw In Interest Interest In In- terest whether whether- earned or not not but the theother theother theother other class draws Interest only as it is earned b by the road The Tb new mortgage authorizes a n sufficient sufficient suf sut amount of or bonds to extend tho road to Salt Lake to build bull a m. m branch to the anthracite coal fields a rId and d the Dotsero Dotsero Dot Dot- sero aero cutoff in addition to the tunnel under tinder the continental divide In relation to the latter the bonds IDa may be sol sold to provide the tho funds or orPIa ormay PIa nay may be used under the law Jaw pas passed ed by bythe bythe bythe the last legislature leg as ns a a. deposit to se secure so- so cure Clore state aid for tor the building of or the tunnel |