 The town's population boomed, then collapsed in the Panic of 1893, when the NP went bankrupt; entire city blocks were offered for as little as $50 with no takers.Washington (despite facing racial prejudice from some newcomers) made personal loans and forgave debt to keep the town afloat until the economy stabilized; the city then boomed again based on the coal, lumber and dairying industries.When Washington died in 1905, all businesses in the town closed, and 5,000 mourners attended his funeral.