The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1903-05-07
MOFFAT ROAD TO
BEGIN IN UTAH
Construction From This End Is
to Commence Soon.
so SAY HOLMES AND KNOX
THEY RETURN FROM TRIP TO
INDUCE CAPITAL INTO STATE.
n OBSTRUCTION on the "Mofat

n OBSTRUCTION on the "Mofat
road"-the Denver, Northwestern
& Pacific-wiH begin from the
Salt Lake end within q short time. q.
> Holmes, proprietor of the knuts-
ford hotel and Frank Knox, president
of the National Bank of the Republic,
both of WhOm subscribed heavily TO the
bonds of the road, brought this news TO
Z SAT- Lake yesterday. They have been
ION an extended eastern trip in the in
terest of mining and other enterprises,
returning yesterday.
Superintendent A G. Ridgeway of
the M offat road expects to come to salt
Lake about the 18th of this month,
said Mr. Holmes. He VIII come 70
[ look over the situation at this end, and
i anticipate that work VIII begin 1ere
soon as a result of his visit. There are
5000 men at work at the other end of
the line, and there will be $500 At
work here in the near future The
road viii be built straight through TO
Salt Lake and with all possible speed.
I The company is completely financed
/ The money is deposited with "a trust
company and can be drawn ~ needed.
Great Things for Salt Lake.
The building Of this road Will mean
great things for Salt Lake. II VIII be
/ the shortest route between here and
[ Denver. and traffic is bound to come
over it. Besides the through traffic,
there VIII be an immense amount of
local business. as IL viii open up rich
mineral and agricultural country. Salt
Lake is bound TO profit by this. 1t is
the natural center for all this region,
which viii get the business if the peo-
pie here go after it. The building OF
this road and the road to Los Angeles
/ is bound TO result in immense develop
ment, and people in the east are be-
ginning TO realize this. We found
deal of interest in Utah investments,
and / feel justified in saying that our
trip viii result in bringing a great deal
of capital to this state
The greatest trouble with Salt Lake
is the lack Of enterprise on the part of
so many Of our leading citizens. l no
tice it especially because of the con-
trast with Los Angeles, where ] spend
so much of my time looking after my
new hotel The Angelus-
How Los Angeles Does.
When tourist of means reaches
Los Angeles he is met with carriages
and shown around the city by repre-
sentatives OF. the chamber of commerce
and is persuaded to stay and look into
the opportunities for investment. The
result Is that large proportion of
them become interested and put their
money in there.
Z
are given a few hours stopover be-
tween trains. They come over 70 nly
hotel and get meal (Of course 1 have
no kick coming on thaD. and then they
take a carriage. see the temple and the
I tabernacle and Brigham YOung's grave
ana go away again without knowing
any more about Salt Lakes business
/ opportunities than they did before If
we had an organization here that
would adopt the policy followed in Los
l Angeles and meet visitors, tell them Of
the great resources Of Salt Lake and
/ the surrounding country, and explain
the situation to them it would result
+ in an immense amount of good to the
town and would repay the outlay many
: times over.
While he was away Mr.. Holmes con-
/ fer-ed with Sylvester Cunningham or
4 Gloucester. Mass, owner of the Knuts-
+ ford hotel building. about additions and
/ improvements. Mr.. Cunningham VIII
/ be in Salt Lake in a few weeks. and
/ then the matter viii be definitely set
/ tied. Mr.. Holmes says that a deter
/ minatiOn has already been reached
/ either to build three additional stories
A on the present structure or to put up
an addition on the lot owned by Mr..
/ Cunningham on the north.
/ Utah Coal and Iron.
There was a great deal of inquiry
/ about Utah coal and IRON said Mr.
/ Knox. These resources of the state
+ seem to have attracted much attention
and we were frequently asked about
/ them Eastern people are beginning 10
/ look with especial favor on Utah in
! vestmeuts. They have come to regard
. this state as safe and stable and at
. the same time possessed OF "A great Iu-
/ ture The mines and other resources
are bound TO be developed rapidly. and
( the future looks brighter for salt Lake
/ than ever before
Il found al the bankers with whom
. we do business feeling confident of the
future from "a monetary STANDPOINT
I Crops are promising and every body is
/ doing an immense business. The banks
/ are determined TO put check on spec
: ulatiOn and let the growth be steady,
! solid and legitimate This in itself Is
! an encouraging feature of the sItua-
/ ton as it viii stop wrongful imitation
/ of values.
General Prosperity Great.
81 do not think the promotion of the
/ big companies and the great increase
I III the amount Of securities. while they
] form "a heavy burden, are a serious
J menace to the situation. The general
Z prosperity is so great that the various
/ enterprises. Over-capif alized when they
! were formed, are working up to a point
( where they are worth the capitalize
T tion. Take the steel industry. for eX-
. ample. In Pittsburg the mills are all
/ simply overwhelmed with work, and
/ the same is true of the other plants
: They are -ollins up profits at such a
I rate that they are making the assets
of the United States Steel company
/ worth the capitalization.
/ A trip 90 PittsburS under present
. conditions throws considerable light on
/ the possibilities Of Utah iron and coal
Now that the railroads are being built
/ TO furnish transportation for the Utah
/ iron. there should be nothing to keep
] back IFS development The use of steel
and iron is increasing at a wonderful
/ rate. Everywhere you go in the east
3 Won find steel. steel. steel being use1
! In the construction of everything, am
! the present works cannot keep UP with
/ the demand There is great chance
I for Utah in this industry.
SUICIDE IN JAIL.
/ Cleveland. May 6.-Ludwig Sedlazyk, a
J prisoner charged with the murder of