The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-03-17
MOFFAT HACKERS
TO COME HERE
Foreign Capitalists Will View West
ern End of the New Den
yer Road.
EXPECTED EARLY IN MAY
VISIT MAY MEAN MUCH Fob
SALT LAKE.

Following the news that David II. NIof4
fat of Denver has succeeded in raising
enough money to complete his railroad
from the metropolis of Colorado to this
city, comes the intelligence that the capt.
talists who have furnished this wealth
will visit Salt Lake in May to look over
the city which will be the terminal of q
line that viii open up northwestern ColO@
RADIO and eastern Utah, an empire in it
self.
These capitalists are representative in
vestoTs of England and Holland, con-
sentative men, and there is little doubt
that after they have looked over the
ground here. like the Guggenheims. F.
Augustus Heinze and others who are now
spending millions in this city and vicin-
ity, they will see opportunities to place
some OF their surplus wealth here. They
will arrive here in splendid time too, for
prOvements now under way in this city
and in Garfield and other nearby SUBJ
urbs will show to an advantage
Will Help Salt Lake.
The news that the bondholders Of the
MOffat road would visit this city was
received here yesterday in a private tele-
gram. They are not all foreigners either
for some well known New York finaneiers
are numbered among them. According
TO the dispatch they will first visit Den
Yer. inspect the line as far as. it is com
pleted and then journey TO this city They
may come by the Denver & Rio Grande
or the Union Pacific and they may drive
overland from Hot Sulphur Springs in
order to see for themselves the rich conn
try in ROutt and Grand county through
which the line is to pass. Should they
decide on the latter route. they will be
shown fields of coal, as rich. if not richer
than anywhere else in the United States
thousands of cattle on splendid grazing
ranges. good agricultural land. and mag
nificent timber. besides the things this
CITY has to offer
These capitalists have already paid the
money necessary TO take uD the bond is
sue of the MOffat road. so that any
wealth they may invest here will be in
addition to the cash thus advanced At
the proper time the local commercial
bodies will be notified Of the visit of
the bOndhOlderS and arrangements VIII
be made to give them a real western vel
come
Financing Still a Secret.
Tho secret of the success of Mr.. Moffat
in securing the money TO comoete this
road which means TO much 10 SAT- l-aFe
and to Denver has not been divulged-
Directly after his announcement several
years ago that he intended to build the
road. he hurried TO New York thinking
that he would have no difficulty in float
ing bonds to pay for the construction He
was disappointed man. for he found the
financieFs cold and he returned to Denver
emDty-handed. It said that Harri-
man objected TO rival to the Union Pa
cific and that Gould fearing the new
line would iniure the Denver & Rio
tTraDGe- united 10 prevent 4utILdl HiSpttS-
ing OF his bonds. The latter. after he
recovered from the rebuff went to work
more earnestly then ever With bis own
money and cash furnished by Denver
capitalists. he pushed the line beyond Ar
rOwhead. nearly 100 miles from Denver.
Capital Takes Notice.
Then the eastern men began taking no.
tice and when he went to New York last
month he had no difficulty in disposing
of the bonds 1t has been said that the
bOndhOlders are friends of the Burling-
ton but this has been denied. But who
ever they are, they have enabled Mr..
Moffat to complete his line and whether
it will be an independent road remains a
question. In any event il Will help this
city and bring thousands Of dollars worth
OF business to it.
The visit Of the bOndhOlders will I'M
doubtedIy have something TO do with the
terminals. but long before they arrive. il
Is said work will begin some twenty miles
from this city on the route already
mapped out. so that rail laying will l,e
under way this summer from both ends
80 Fa