The Industrial Gamble That Defined a City

The best job ever done for Seattle was when the Railroad Company voted unanimously to accept the proposition of Mr. J. M. Colman to finish the construction of fifteen miles of the railroad from this city to the Benton and the Talbot coal mines. That proposition was to advance $90,000 in gold coin, to be taken in stock, upon condition that other citizens of Seattle would take and pay for $30,000 in ten per cent bonds of the Company, payable in ten years. Mr. Colman agreed to complete and stock the road and put it in running condition without further assessment upon the stockholders.

The only matter that delays the consummation of this grand project is that about ten per cent of the bonds remain unsold. While many property holders who are to be the largest beneficiaries of the improvement have not yet taken a dollar of the bonds, we believe the very shame of the thing will compel them to make up the required amount. The work is bound to go on. When this fifteen miles of railroad is completed, there will be not less than 500 tons of coal a day to be transported, and this amount will be doubled within the following year. At 50 cents a ton, this would make the net earnings of the road $120,000 a year on this single product. It may truthfully be said: 'There are millions in it!' With this success, the completion of the road over the Cascades to connect with the Walla Walla and Columbia River road becomes a fixed fact.