Boston Capital Eyes Seattle Cable Cars

For several days Mr. Osgood, representing Boston capitalists, has been looking over the city with a view of building a complete system of street railroads running in every direction throughout Seattle. His instructions from the company were, when he left Boston, that if the grades would permit, to build horse-car roads at once. But on his arrival here he found the grades of the streets running east and west too steep for horse cars. However, many of our leading, wide-awake men were determined that a road should be constructed from Commercial street to Lake Washington by way of Jackson street. Mr. Osgood explained to them that a cable road would be required, and on that street alone would cost $175,000. This announcement did not frighten the property holders along the line at all, for they met last evening to determine how much they could afford to subscribe to the Boston company in order to induce them to put in the road. Before the meeting adjourned the property holders agreed to put up $50,000 in gold coin for stock in the company, and give property along the line to the company outright, worth $50,000, appraised valuation. This proposition was laid before Mr. Osgood, who stated that it was perfectly satisfactory to him, but he must submit it to his people in Boston before formally accepting it. He states that if his company accepts the offer of the property holders, as it doubtless will, the cable road will be completed before January 1, 1885.