From Wikipedia:
A group of wealthy industrialists gather in the home of Mr. Lloyd, a millionaire who introduces them to Richard "Mack" McAllan, the engineer who successfully spearheaded the construction of the Channel Tunnel (the story takes place in the unspecified near future, though it is noted in the film that the Channel Tunnel is built "in 1940"). McAllan informs the group that the "Allanite steel" he developed, along with a "radium drill" developed by his friend Frederick "Robbie" Robbins, makes it possible to construct an undersea tunnel linking England with the United States. Though the group is initially sceptical, the backing of Lloyd and his associate Mostyn convinces the group to buy shares in the project.
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