, 1876-04-27
THE FUTURE OF SEATTLE.

The best job ever done for Seattle was
when the Railroad Company voted
unanimously to accept the proposition
of Mr.. J. NJ. Colman to finish the con-
struction of fifteen miles Of the railroad.
from this city to the Renton and the
Talbot coal mines. That proposition,
rs most of our readers already know,
was to advance $780, 900 in gold coin, to
be taken in stock, upor condition that
other citizens of Seattle would take and
pay for $50. 900 in ten per cent. bonds
of the Company. payable in ten years.
uron which Mr.. Colman agrees to COM
plete and stock the road and put it in
running condition without further as
sessment upon the stockholders. The
only matter which delays, or can possi-
bly, defeat the consummation of this
grand project. SO fraught with conse-
quences to the future prosperity OF the
town, is that about ten per cent. OF the
amount of the bonds remain unsold,
while many of the property holders
who are to be the largest benefciaries OF
the Improvement, have not yet taken a
dollar of the bonds. When these men
come to consider the meanness OF thus
Withholding their aid from public
work by which they expect to be largely
proftted, and the contempt which such
manifest selfshness will inevitably enc
tail upon them, We believe the very
shame of the thing will constrain them
to make up the required amount. II
they do not, others, less able but with
more regard to their duties and obliga-
tions to society,". will. The work is
bound to go on. even though it may en-
rich those who do not deserve it.
On mere superficial view this seems
but small thing upon which to base
such large hopes for the future of our
town. The investment of two or three
hundred thousand dollars in a public
enterpris cuts but a small figure in a
commercial city. Like amounts are in
vested in milling business and in coal
mines without building up cities where
they are situated. But the construction
of this section of railroad is but be-
ginning, an earnest, an assurance of
much greater results. 1t may truthfully
be said: "There are millions in it.''
When this fifteen miles of railroad is
completed and in running order, the
Company will only have bonded debt
of $4,000 to meet, with convertible
real estate, which has been tak-n for
stock, to more than three times that
amount, rapidly appreciating in value.
So that practically the road will be free
from debt, with surplus of $40, 900 Oh
$50, 900. The business of The road is
assured. When it is completed there
will be not less iLan 500 tons of coal a
day to be transported, and this amount
will be doubled within the following
year. The freight on the latter amount,
at so cents ton, would make the net
earnings OF the road $120, 900 year on
this single product. There need be no
fears that the supply of coal will ever
exceed the demand. Now the average
supply of coal delivered upon our
wharves is about 500 tons day; five or
SIX vessels are constantly waiting in our
harbor for freight, and the P. NJ. steam
ers, more than half their trips, have to
go to Naniamo, in British Columbia, for
coal because it cannot be furnished
here.
Upon this basis of capital and credit,
with the immense profit of the invest
ment in the first section of the road
demonstrated to the public, and the
whole under the management Of James
NJ. Colman, we regard the continuance
and completion of the road over the
Cascades to the Columbia road, to con-
meet with the Walla Walla and Colum-
bia River road in the shortest practicable
time, as fixed fact. This achievement
would not be as wonderful as Mr.. Col
man has already demonstrated his car
pacity for. But four or five years ago
he was forced into bankruptcy by casu-
ality which no business sagacity could
avail. Commencing then empty hand
ed, by untiring industry, indomitable
perseverance and business sagacity with
out parallel in this section of country,
he has achieved large fortune, every
dollar of which has been turned to pub
ic Uses as we'll as self interest, doing
moro for the permanent prosperity OF
the town than any other man who eve,
resided in it. Such rare public spirit,
business capacity aud pluck. cannot fail
in the accomplishment of its purpose
The circumstances ander which Mr.
Colman acquired the means to construc,
this fifteen miles OF railroad were not as
propitious as those which now offer tt
enable him to complete the entire line
It is the testimony of all successful
business men, that their last millions
were more easily acquired than theil
first thousands. We have an abiding
faith, which has all the tangibility Of
certainty, that Colman will build that
road, and that, too, in as short time
as economy will warrant, and that with
its progress the future growth and COM
mercial prosperity Of our town will be
assured. Five years from to-day Seat
tie will be the largest town north Of
the California line. If any one doubts
this. they have but to take retrospect