La Conner Trading and Transportation Company
Encyclopedia
The La Conner Trading and Transportation Company was founded in the early 1900s by Joshua Green
and others, to engage in the shipping business on Puget Sound
.
, Joshua Green
, purser, Sam Denny, master, Peter Falk, mate, and Frank Zickmund, second engineer. Green persuaded the others to leave the Henry Bailey and go into business for themselves, by purchasing the freight steamer Fannie Lake and a scow, for a total investment of about $5000. Green at the time had savings of only about $250 and the others had very little. However they were able to secure loans of $1,250 each, secured by the steamer and the scow, from banker Jacob Furth
and the Puget Sound National Bank.
. Willey then joined with the four original partners and they incorporated the business as the La Conner Trading and Transportation Company.
The company suffered business reverses. In April 1893, Fannie Lake was destroyed by a fire that started in a cargo of hay. The vessel was valued at $5,000 and insured for only $4,000. An economic depression called the Panic of 1893
hit the company hard, and things got worse when the company's other hay steamer, the uninsurable Anna M. Pence, was also destroyed by fire.
Green had the idea to purchase a new boat, which he would name after the builder, which he concluded would save up to $2,000 off the price of the boat. Builders were willing to build for less if the completed vessel were to be named after the builder, as it would function as a floating advertisement. In this way, the company acquired the T.W. Lake
built by the shipbuilder of the same name. The Lake was purpose-built to move freight, and included a winch to lift cargo up to piers, regardless of the state of the tide.
, and the sternwheelers State of Washington
, Fairhaven
and La Conner to the roster. The company also built the City of Denver for Colorado investors. When the Colorado interests defaulted on payment, the company took over the boat and added to their fleet.
The company had also expanded into the passenger business, buying the fast steamer Inland Flyer
and putting that vessel on the lucrative Seattle – Bremerton run in opposition to the Athlon
, owned by H.B. Kennedy.
, of which Charles E. Peabody was president. This gave Peabody and Alaska Steam a controlling interest in La Conner Trading. Alaska Steam ran ships to Alaska and also had a large fleet of inland vessels operating on Puget Sound. The Puget Sound operations were conducted under the name of the Puget Sound Navigation Company
. With the acquisition of La Conner Trading, PSN was almost doubled in the size of its fleet. After a period of transition, the La Conner company was effectively merged into the reorganized Puget Sound Navigation Company
, which in later years came to dominate Puget Sound passenger and ferry business as a near-monopoly.
Joshua Green (seaman and banker)
Joshua Green was an American sternwheeler captain, businessman, and banker. He rose from being a seaman to being the dominant figure of the Puget Sound Mosquito Fleet, then sold out his interests and became a banker...
and others, to engage in the shipping business on Puget Sound
Puget Sound
Puget Sound is a sound in the U.S. state of Washington. It is a complex estuarine system of interconnected marine waterways and basins, with one major and one minor connection to the Strait of Juan de Fuca and the Pacific Ocean — Admiralty Inlet being the major connection and...
.
Formation
The La Conner Trading and Transportation Company was formed in the early 1890s by four officers of the steamer Henry BaileyHenry Bailey
Henry Marvin Bailey was an American sport shooter who competed in the 1924 Summer Olympics.In 1924 he won the gold medal in the 25 metre rapid fire pistol competition....
, Joshua Green
Joshua Green (seaman and banker)
Joshua Green was an American sternwheeler captain, businessman, and banker. He rose from being a seaman to being the dominant figure of the Puget Sound Mosquito Fleet, then sold out his interests and became a banker...
, purser, Sam Denny, master, Peter Falk, mate, and Frank Zickmund, second engineer. Green persuaded the others to leave the Henry Bailey and go into business for themselves, by purchasing the freight steamer Fannie Lake and a scow, for a total investment of about $5000. Green at the time had savings of only about $250 and the others had very little. However they were able to secure loans of $1,250 each, secured by the steamer and the scow, from banker Jacob Furth
Jacob Furth
Jacob Furth was an Austrian Empire-born American entrepreneur and prominent Seattle banker. He played a key role in consolidating Seattle's electric power and public transportation infrastructure, and was a member of Ohaveth Sholum Congregation, Seattle's first synagogue...
and the Puget Sound National Bank.
Operations
Running in the freight business, the company was not competing for passenger fairs. Instead the new firm's main competition came from George T. Willey, a Seattle hay and grain merchant. As business increased, the four partners bought another steamer, the Annie M. PenceAnnie M. Pence
-Career:Annie M. Pence was built at Lummi Island in 1890. The boat was a sternwheeler intended to carry freight. For most of the career of Annie M. Pence, the vessel was under the command of Capt. Peter Falk, who was also one of their owners. Annie M. Pence was purchased by the La Conner Trading...
. Willey then joined with the four original partners and they incorporated the business as the La Conner Trading and Transportation Company.
The company suffered business reverses. In April 1893, Fannie Lake was destroyed by a fire that started in a cargo of hay. The vessel was valued at $5,000 and insured for only $4,000. An economic depression called the Panic of 1893
Panic of 1893
The Panic of 1893 was a serious economic depression in the United States that began in 1893. Similar to the Panic of 1873, this panic was marked by the collapse of railroad overbuilding and shaky railroad financing which set off a series of bank failures...
hit the company hard, and things got worse when the company's other hay steamer, the uninsurable Anna M. Pence, was also destroyed by fire.
Green had the idea to purchase a new boat, which he would name after the builder, which he concluded would save up to $2,000 off the price of the boat. Builders were willing to build for less if the completed vessel were to be named after the builder, as it would function as a floating advertisement. In this way, the company acquired the T.W. Lake
T.W. Lake
T.W. Lake was a steamboat that ran on Puget Sound in the early 1900s. This vessel was lost with all hands on December 5, 1923 in one of the worst disasters of the Puget Sound Mosquito Fleet.- Career:...
built by the shipbuilder of the same name. The Lake was purpose-built to move freight, and included a winch to lift cargo up to piers, regardless of the state of the tide.
Expansion of business
Following the purchase of the Lake, the company continued to expand, adding the steamers E.D. Smith, Utopia, George E. StarrGeorge E. Starr (steamboat)
The steamboat George E. Starr operated in late 19th century as part of the Puget Sound Mosquito Fleet and also operated out of Victoria, B.C. Geo. E. Starr also served for a time in California and on the Columbia River.-Construction:Geo. E...
, and the sternwheelers State of Washington
State of Washington (sternwheeler)
State of Washington was a sternwheel steamboat of the Puget Sound Mosquito Fleet, later transferred to the Columbia River.-Career:State of Washington was built in 1889 by John J. Holland in Tacoma, Washington. From 1889 to 1902 the vessel was placed on the Seattle-Bellingham route. From 1902 to...
, Fairhaven
Fairhaven (sternwheeler)
-References:* Affleck, Edwin L, ed. A Century of Paddlewheelers in the Pacific Northwest, the Yukon, and Alaska, Alexander Nicholls Press, Vancouver, BC ISBN 0-920034-08-X...
and La Conner to the roster. The company also built the City of Denver for Colorado investors. When the Colorado interests defaulted on payment, the company took over the boat and added to their fleet.
The company had also expanded into the passenger business, buying the fast steamer Inland Flyer
Inland Flyer
Inland Flyer was a passenger steamboat that ran on Puget Sound from 1898 to 1916. From 1910 to 1916 this vessel was known as the Mohawk. The vessel is notable as the first steamer on Puget Sound to use oil fuel...
and putting that vessel on the lucrative Seattle – Bremerton run in opposition to the Athlon
Athlon (steamboat)
-Construction:Athlon was built in Portland, Oregon by the J.H. Johnston yard. Her first owners were a consortium of Jacob Kamm , Shaver Transportation Company and the Kellogg Transportation Company. The consortium built her at a cost of $4,950...
, owned by H.B. Kennedy.
Corporate changes
By 1902, Joshua Green had bought out Sam Denny's shares, and some of the stock of George T. Willey. Willey then sold the rest of his shares to the Alaska Steamship CompanyAlaska Steamship Company
The Alaska Steamship Company was formed on August 3, 1894. Charles Peabody, one of the six founding members, served as president of the company from its creation until 1912. While it originally set out to ship passengers and fishing products, the Alaska Steamship Company began shipping mining...
, of which Charles E. Peabody was president. This gave Peabody and Alaska Steam a controlling interest in La Conner Trading. Alaska Steam ran ships to Alaska and also had a large fleet of inland vessels operating on Puget Sound. The Puget Sound operations were conducted under the name of the Puget Sound Navigation Company
Puget Sound Navigation Company
The Puget Sound Navigation Company was founded by Joshua Green in 1913. It operated a fleet of steamboats and ferries on Puget Sound in Washington and the Georgia Strait in British Columbia...
. With the acquisition of La Conner Trading, PSN was almost doubled in the size of its fleet. After a period of transition, the La Conner company was effectively merged into the reorganized Puget Sound Navigation Company
Puget Sound Navigation Company
The Puget Sound Navigation Company was founded by Joshua Green in 1913. It operated a fleet of steamboats and ferries on Puget Sound in Washington and the Georgia Strait in British Columbia...
, which in later years came to dominate Puget Sound passenger and ferry business as a near-monopoly.