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During the week of 02/12/1906-02/16/1906, the Harriman railroad interests (at this time controlling the Union Pacific Railroad) purchased the Stetson-Post Mill property on Seattle's waterfront for $900,000. That same week, Harriman bought upland property at Smith Cove and Salmon Bay for $600,000. As a Seattle Times article noted on 02/18/1906: "The railroads are bound to own Seattle's waterfront." (See "This Will Be a Big Realty Month," Seattle Times, 02/18/1906, p. 38.) The ramifications of the railroads' acquisition of Seattle's waterfront would reverberate throughout the Progressive Era, and lead to the formation of the public Port of Seattle agency.

PCAD id: 14937