A Boston Banker Tells Walla Walla to Hold Its Wheat

[Walla Walla Statesman.] This forenoon the Statesman editorial rooms were favored with a call from Mr. H. H. Dearborn, banker and capitalist of Boston, Mass., a gentleman of most pleasing address and wise practical experience. He left Boston on the 7th of July, and has traveled over the Northern Pacific by day, to more thoroughly post himself as to the condition of crop, business, scenery and resources of Minnesota and Montana, as well as the older and more thickly settled sections farther east. In answer to the query as to what his opinion of Washington Territory was after so careful an observation, the gentleman stated that we were ahead by long odds.

Says our visitor: "I have seen better crops on land between Walla Walla and Wallula Junction — a section that was considered almost worthless when I visited this Territory three years ago — than I have seen in Minnesota. There has been no rain westward from the Red River valley, and east of that section there has been too much. I understand that the grain yield of eastern Washington this season is enormous, and that you have had no rain for over three months. I don't believe there is another section in the United States that can make such a showing."

Knowing Mr. Dearborn to be a gentleman thoroughly posted as regards the condition of the grain market, we asked his opinion about the prospective demand and price of wheat. "That is a matter on which I desire very much to speak," said the gentleman. "I know that the demand will be very large and prices will hold strong. Tell the farmers not to be in a hurry to dispose of their crop or bond it. The harvest east of the Rocky Mountains will fall short; consequently good prices are bound to prevail. I do not say this from any personal or interested point of view, but simply because I wish to see farmers reap the full benefit of their toil. I am largely interested in this Territory, and the farmers' prosperity will eventually benefit me. I feel positively convinced that they will secure a good price for grain, and therefore advise them not to be in a hurry to sell."

"What do you think of the Northern Pacific as a road?" we asked him. "When finished," said he, "it will be the finest trunk railroad in America. I believe it will cost every cent of the money raised on bonds to finish it. Sleeper and dining-room cars run into Helena from the East, and excellent time is made. The meals in the dining-room cars are served at all hours at the nominal charge of 75 cents, and the table will exceed that of any first-class hotel. The scenery is magnificent."

We asked the gentleman how many miles yet remained to close the gap, how the Bozeman and Mullan tunnels were getting on, and if he believed the road would be finished before September. "Well," said he, "I cannot answer all these questions definitely. There is a trifle over 100 miles to complete in order to close the gap between the two ends. Neither the Bozeman nor Mullan tunnels are finished, but tracks are being laid over them. We crossed the Bozeman tunnel on a 215-foot grade. I don't believe the road will be finished as soon as Mr. Villard anticipated."

We asked the gentleman if the report was true that he had invested largely in real estate in this city and Seattle, both through his brother, who was here about three months ago, and through agents. "Yes," said he, "I have over $75,000 invested in real estate between Seattle and Walla Walla. I am going to commence improving my property here immediately — fencing, building sidewalks, etc. — and will in all probability let a contract for the erection of a large brick building on lower Main street. I have great faith in this place, and believe Walla Walla will go ahead more in the next year than she has advanced in the past five years. You have a wonderful country around you. All that is needed is live, energetic and go-ahead men. Your business men here are too sleepy. What surprises me is to hear that men that have made money here go elsewhere to open up enterprises. They are foolish, because right here is one of the grandest fields for investments in America. But whatever comes, enjoin upon the farmers not to sacrifice their crops."

Mr. Dearborn has been interested in private banking and speculating for the past fifteen years and commands unlimited capital. It is such men as he is that will build up and put our city in the front rank, and, as he says, there will be a transition here in the near future that will completely paralyze some of our old-fogy 'mossbacks.'