The Idaho Springs siftings-news., 1907-10-19
GIGANTIC PROJECT THAT WILL
SHORTEN DISTANCE BETWEEN
EAST AND WEST SLOPES.
THE P0mER0Y SCHEME
MEANS LOAN OF 5000 900 TO
THE MoFFAT ROAD AND VAL.
uAsLE ASSET TO STATE.

construction of tunnel through the
main range near the base of James
peak will commence within short
resentng the Continental Tunnel Com
pany. and Charles j Hughes, Jr. coun
sci for the Moffat road. are preparing
a contract and a subscription blank
which will enable the tunnel company
to put up its bonds on the market.
John W Springer OF the Continental
Trust Company. which will act as trus-
tee. says that as soon as the subscrip
ton blank is agreed upon by Attor-
neys Blood and Hughes, and blanks
can be printed the Continental Trust
Company will be prepared to receive
subscriptions.
There are many features about the
bonds OF the Continental Tunnel Com
pany which will make its securities
peculiarly valuable in the eyes OF in
vestors." says John w. Springer.
Bonds Only for sale.
"Only twenty-five shares OF stock.
one for each director. will be issued.
Instead OF stock we will sell the bonds
OF the company.
There will be no high salaried ON
GERS CouueCttu WIN InlS company. we
are all doing the work for the good OF
the state. The $5.00O.00O which will
be required to build this tunnel will be
divided among Colorado people. and
the $150,000 interest which will be paid
every six months will go into the
purses OF Colorado people.
There Is between 10000 900 and
100000 lying in the banks OF Den
yer receiving but three per cent inter
est. Why not let this money earn six
per cent interest in the Continental
Tunnel Company bonds?
Labor VIII Benefit.
Labor will get nearly every dollar
o. the $5.O00,00O which will be spent
on the tunnel, and the population OF
the city will be increased 100000 dur
ing the two years in which the work
will be done. All those who work on
the tunnel will call on Denver for sup
plies Taken all in all, this is purely
Denver and Colorado proposition. and
am sure will be heartily supported by
Denver and Colorado people.
Those who make subscriptions for
the bonds may pay the entire sum
down. or they may pay one-tenth down
and make payment every month until
the entire amount OF their subscrip
tions are paid. This, I am sure, will
appeal to the small investor-to the
man who wants to put small sum of
money into a safe proposition at good
rate o, interest. The interest on the
bonds will aggregate 5000. 900 a year.
THE MofYat road is security for the
bonds. 1t guarantees the interest. and
at the end OF ten years the Moffat road
will redeem the bonds and will become
the owner OF the tunnel. 1t simply
amounts to a loan of $5,000,000 for ten
years at the rate of six per cent in
terest The bonds will be perfectly
safe David II Moffat has put SO
600 900 OF his own private fortune into
the Moffat road and II is a safe com
pany. The bonds purchased by Mr..
Moffat are locked in his vaults and
nothing can affect the value Of the rail
read,
Another feature is that all the
banks in town will handle these bonds
A man can take one OF these bonds INTO
any bank in town and borrow money
on it,
Preparing a Contract.
Attorneys Blood and hIghes will
prepare a contract between the Cont
mental Tunnel Company and the Moffat
road which will be unassailable. They
will take no chances of the town
knockers or any others finding any
flaws. The bonds will be made gilt
edged. and the guarantee of the Moffat
road will be SO binding that it can not
be attacked.
Herbert George, who will have active
management of the company, has
oCened temporary headquarters with
W A. Deuel.. general manager OF the
Moffat road on the seventh floor of the
Majestic building Permanent offices
will soon be secured by Mr.. George.
The Continental Tunnel Company has
completed it's organization. and as soon
as the technical work in connection
with the preparation OF contracts, etc,