The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1890-07-04
GIRDLING THE LAKE.
Articles of the Belt Line Rail-
road Filed.
TO cENTRALlzE MANUFACTURING
Advantages Of Lake Washington District
for Factortes-0 Ulcers and Pur-
poses of the Company.

Counsel James Mcknight. OF the North
ern Pacific, was seen yesterday by Posr-
INrgiIIsEScER reporter, who inquired
about the formation of the Lake Washing
ton Belt Line Company. Mr.. Mcknight
said.
Articles of incorporation were today
signed and filed with the auditor and secre-
tary OF state incorporating the Lake
Washington Belt Line Company. The
s. 100000 of stock of the company was
subscribed BY ]. ID. Rockefeller and asso-
ciates. General Bryant aad associates, Col
gate Hoyt and associates. l.. 5. J. Hunt
and associates, ]. r. Mcknight and my
self.
The fourth and fifth Subdivisions OF ar
ticle 2 of the articles OF incorporation are
the most interesting and important divi-
sions. They authori re the company to
purchase. hold, sell and guarantee the
payment of principal and interest on The
bonds of other manufacturing corpora
tons. The leading men interested in this
belt line company, Messrs. Rockefeller.
Hoyt. Bryant and associates. are well and
favorahly known IN financial circles in
New YORK and the East The guarantee of
bonds of manufacturing companies by the
belt line company will enable such manu-
featuring corporations 10 obtain all the
money necessary TO carry on business
equal TO the demands or requirements of
the country at long time and at low rate
of interest
This company has already acquired
several thousand acres of land on the
shores OF Lake Washington, on which il is
proposed to locate various manufacturing
companies. In fact. it is our purpose 10
centralize manufacturing on Lake WASH
ington as far as possible"
But does not Seattle proper possess ad-
vantsges over those OF the Lake Washing
ton district. For example. viii theren not be
extra handling of the manufactured pro-
ductss" asked the reporter.
Certainly not" replied Mr.. Mcknight
"li manufacturing is done on tide
water the product must be loaded
ON trucks and hauled to ships. and
the same hauling OF the product
OF factory located on Lake Washington
viii be ali that is required. True.
i, must be haalea few miles,
but the freight being practically
nothing more than switching chargss
thss point furnishes no obstacle at all.
Then there are many advantages
ing,on district TIE one item OF
free fresh water is great advantage of it.
self. The water rates here in Seattle
would. as you must know. Bankrupt roll
Ing MILL
Manufacturing companies in this west
ern country hare been required heretofore
to pay very high rates OF interest and large
commissions, and have nos been able az
raeA ~ sr,s. ~
tain sufficient amount of money 90 carry
on their enterprises IS they ought to have
done This company. however. believes Is
can. and ii will establish such agencies in
the East as viii. through the guarantee
provided IN the sixth article OF ineorrora-
ton. enable such establishments as are
located On the belt line % obtain sufficient
money 10 carry on all business Sc a very
low rate Snd comparatively little expense.
The officers we're elected today and co.,
ssst Of myself IS president, l. s ]. Hunt IS
vice president 5seoe Furth as treasurer. A.
;, nGnhSIa as secretary ami J. +. Ne
NansAs IS se1eral manager"
In reply 70 an INQUIRY as to the cos1ssruc-
ton Of the belt line OF railroad around the
ssss side OF Lake Washington. Mr.. Ne
Ns9Sas said;
The Great Western Iron and Steel
Company srplSed 10 ne day before yes
serssy to arrange II possible to have
the construction OF the belt tine COM
R'sncsd 81 the norta end ef the lake |
communicated ey wire With Mr.. Nsn1rscs
on the subSees. anu he informed me thai
Mr.. Henry, the contractor for doing the
WORK. woGl6 be on the ground within q
week. snd thai be woSsli a-sSngs 10 ccra-
nsaes work AZ shs north end. Tue NIX
land company assures Us thar IL has about
City carloads os frsieat IN sight. xssS de-
sired 20 have sAe road constructed 20 Kirk
land ss tse earliest possible aass