According to the book, “Manito
Park: A Reflection of Spokane’s Past”, by Tony Bamonte and Suzanne
Schaeffer Bamonte of www.tornadocreekpublications.com:
The most tragic railroad accident in the Inland Northwest
was the head-on collision of two Spokane & Inland Empire trains about a
mile west of Coeur d’ Alene on July 31, 1909.
Seventeen passengers were killed and more than two hundred injured. This accident, and the resulting damage
claims, plunged an already financially-compromised company into near financial
ruin. Soon after, the streetcar lines
began to feel a sting of competition from the automobile. In addition, the population count reached a
sudden plateau, quelling the need for further rail line expansion.
By 1912 Graves divested himself of controlling interests and
responsibilities in both the Spokane & Inland railway and the Granby
mines. His investments in these operations
proved profitable, but many other investors, who delayed liquidating, were not
so fortunate. With his proceeds, Graves
built a beautiful estate at his farm, purchased years earlier, on a bluff
overlooking the Little Spokane River.
The estate he named “Waikiki” was designed by architect Kirtland Cutter
and landscaped by the Olmstead Brothers firm.
(It is now Gonzaga University’s Bozarth Conference and Retreat
Center.) He also began investing in
property north of Spokane, accumulating some 3000 acres, most of which he
intended to develop and sell.
The residential acreage market was beginning to soften at
this time, and Graves needed an incentive to entice buyers. That incentive came in the form of donating
land to the floundering Whitworth College, which was looking to relocate from
Tacoma to a more strategic site. Graves
offered a proposal that gave Whitworth a vested interest in promoting the sales
of lots around the donated land. The
college accepted, and a ground-breaking ceremony took place on May 22,
1914. Graves continued to take an active
role in the ongoing development of the college, and upon his death on April 27,
1948 at the age of 88, his ashes were scattered at a favorite spot on the
Whitworth campus.
Graves experienced financial difficulties in his later
years. His real estate investments went
flat and further speculation in the mining business was unproductive. He had to sell Waikiki in 1937 at a deflated value. Nevertheless, this shrewd, industrious
businessman was remembered for his successes, and seen as a visionary who left
for future generations such legacies as Manito Park and Whitworth College.
Next time, we will learn more
about the expansion of the South Hill portion of Spokane and the newest building boom in the area.
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