Industry History | Weyerhaeuser — Nine Hundred Thousand Acres from a Tacoma Room
· 1900-1
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Industry History | Weyerhaeuser — Nine Hundred Thousand Acres from a Tacoma Room
kevin
People treat Weyerhaeuser as a Seattle tower that always filed as a timber REIT.
The first office was two rented rooms in Tacoma.
On 18 January 1900 Frederick Weyerhaeuser and a group of Midwestern partners incorporated the Weyerhaeuser Timber Company.
Two weeks earlier they had closed the purchase of about 900,000 acres of Washington timberland from James J. Hill's Northern Pacific Railway for 5.4 million dollars in 1900 money.
It was then the largest private land sale in the United States.
The new company started with three employees. The rooms sat next to the railroad's own offices because the railroad held the only maps of the tracts just bought.
Weyerhaeuser himself stayed in St. Paul. George S. Long ran the Tacoma floor for three decades.
The early book was land, not lumber. The Yacolt Burn of 1902 pushed the firm into logging and into organized fire protection.
From 1911 the Tacoma Building on Pacific Avenue served as headquarters for sixty years.
In 1915 an all-electric mill in Everett became the principal plant for East Coast orders.
The Longview sawmill of 1929 was billed as the world's largest. A pulp mill there, opened in 1931, carried the company through the Depression.
The name dropped Timber in 1959. Headquarters later sat in Federal Way, then Seattle.
The mechanism that survived is the 1900 purchase: own the acres, then decide later whether the tree becomes a board, a sheet of pulp, or a REIT unit.
Photo: Pacific Avenue, Tacoma, via Wikimedia Commons.
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