, 1923-05-10

He tried in vain to buy out the traders of the Mis-.
souri, Fur Company. just beginning extensive OPP
Grafton from st. Louis under the leadership of the
Famous Manuel Lisa. So he organized In 1909 the
American Fur Company under the laws of New
1ork, q hoiding corporation. He established a sub
sldiary company, the Pacific Fur Company, for
the Astoria project. He furnished the capital.
S4OO,OOO, and assumed all financial risks. He took
IN ten partners, who contributed time and labor.
His partners were mostly experienced traders lured
from the ranks of the Northwest Company, Scotch
men and British subjects.
Astor made ready two parties for the mouth of
the Columbia one to go by sea and the other to
travel overland to pick out the best sites for posts.
In September. 1910. the Tonquin. under Capt.
Jonathan Thorn, sailed from New York with 33
passengers including four partners: Alexander Nc
Kay. Duncan. McDougal. and David and Robert
Stuart. The Tonquin lost eight men In getting
across the Columbia bar and arrived May %, 1911.
A site was selected; tools and part of the supplies
were landed. June / the Tonquln sailed on a trad
Ing expedition to Nootka Sound. The Indians cap
tured the vessel and killed the captain, Mckay
and all but five of the crew. The survivors then
blew up the ship. The shore party under Nc
Dougal made slow progress. but finally got under
shelter and began trading operations.
In the meantime the overland expedition, which
had started from Montreal July @. 1910. under Will
son Price Hunt. had been In desperate straits at
several points on the long journey by way of the
Missouri and the Grand Teton, the Snake and the
Columbia. 1t did not reach Astoria until January
10, 1872. The arrival Of the supply ship Beaver
May 10. 1912, relieved the situation. Trading op-
erations were undertaken on an extensive scale.
Two partners of the Northwest Company brought
the news of the declaration of war in December,
1912. The Pacific Fur Company partners, In
Hunts absence, terminated their partnership with
Astor and sold out to the Northwest Company at
an absurdly low price. Aston was unsuccessful In
efforts to recover his property after the war.
Astoria was therefore n failure as n trading
post. so far as Astor was concerned. but 1t was the
beginning of n northwestw ard movement of the
American people over the Oregon Trail that gave
us two states Of the Union. Oregon and washing
ton, and ultimately Alaska.
Modern Astoria is financially typical of hundreds
and thousands of ambitious little cities of the coun-
try. as is shown by the statements admitted to con-
gress In connection with the proposed loan. The
city, however. had a construction problem peculiar.
Iy its own. II is located 10 miles up stream from
the mouth of the Columbia on what was originally
a tidal fiat. submerged to a depth OF 30 feet at
high tide. The city was first built on plllng from
the harbor front to the foot of the hills. Then,
In order Ia establish a modern sewage system, the
city built n bulkhead along the water front and
filled in. The street grade was fixed Mt nine feet
above the all and buildings we're raised to that
level. The streets were constructed on b~ridgework.
with asphalt paving and concrete sidewalks on the
pla liking.
The destruction of the burned area was there
fore practically complete. Before It can be rebuilt
II will he necessary to reconstruct the sewage and
water systems. build substantial retaining walls
around each Of the "a burned blocks, fill In the
streets with material dredged from the river, and
pave and lay sidewalks-all OF which Will cost
about S1,063,0O0 the amount Of the loan asked
from congress. Until these things are done, accord
Ing TO the official statement. no capital can be OBJ
tanned to enable the property owners to rebuild.
The city OF Astoria has issued bonds and In
Cured bonded obligations amounting to $685.
s95.32 for schools, municipal improvements. port of
Astoria docks and county roads. The assessed
valuation of all property prior to the fire WINS Sill
35s,469 the bonded liability was therefore 40 per
cent OF the assessed valuation. Because OF the
conditions following the fire the bonded Indebted
ness is so nearly equal TO the value OF all the prom
erty that the city is deprived Of the ability to sell
further bonds for reconstruction purposes through
the ordinary investment channels.