Seattle Terminal Railway and Elevator Company Changes Hands
Control of the major Seattle grain-shipping facility has been transferred to new management, signaling a revival in wheat exports and rail commerce.
The story, cleaned up
A cleaned-up reading of the newspaper page: spelling and layout repaired, one story lifted off a crowded page. It follows the original closely but it is not a transcription. The original page is below; read it if a detail matters.
The control of the Seattle Terminal Railway and Elevator Company has passed into new hands, and arrangements are being made to resume the shipments of wheat by one of the largest firms on the Coast. The deal was closed yesterday. John Thomas has held an option on $202,000 worth of the bonds of the company, which carry the stock with them, and in accordance with instructions received from New York, made the first payment of $20,000. Mr. Thomas will take the management of the property and is now arranging for the shipment of wheat. The sale will release a considerable sum of local capital and is expected to set a large amount of capital in motion in the grain business, besides giving employment to from 50 to 100 workmen. The bond issue is represented by the warehouse on the west side of the harbor, three miles of railroad running to it, and valuable water front property in West Seattle.
“The sale of this property will release a considerable sum of local capital which has been locked up in it for some time.”
Seattle’s growth as a Pacific trade hub was predicated on these vital infrastructure pieces. The transition from industrial rail-based elevators to modern urban development is the story of Seattle’s harbor evolution.
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