The Canal Fund Creeps Toward Its Goal
Seattle’s Lake Washington waterway subsidy inches upward as a Northern Pacific Railroad lawyer promises Eastern capital will do its part.
Subscriptions to the subsidy fund of the Seattle and Lake Washington Waterway Company continue to grow slowly, but steadily, and the friends of the project are confident the desired total will be reached. No difficulty is now feared. The committee has received assurances that a large additional subscription will be forthcoming soon, and the parties interested are expected to agree upon the amount.
Among yesterday’s developments was a telegram from James McNaught, general solicitor of the Northern Pacific Railroad, who represents the syndicate of Eastern capitalists that owns the most valuable tracts of water front on the eastern shore of Washington. He telegraphed from New York: “Messrs. Colby, Hoyt and other interested gentlemen will wire you as to the canal subsidy at the earliest possible date. We will do everything in our power to further the enterprise. — James McNaught.”
The largest single subscription reported was that of McDougall & Southwick. Members of the committee are still holding back their lists and are requested to take them to the committee office without further delay.
The subscription credited yesterday to the Olympic Timber and Shingle Company should have been entered to the Olympic Lumber and Shingle Company.
“We will do everything in our power to further the enterprise.”
The Lake Washington canal would eventually become the Ship Canal and Montlake Cut, reshaping Seattle’s waterfront and neighborhoods. Then as now, major infrastructure depended on a slow blend of private pledges, railroad money, and public confidence—and the fundraising tally itself was front-page news.
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