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Situated on a deep-water bay, Everett's timber-covered peninsula was irresistible to early investors. Natural resources were abundant, and it was whispered that the Great Northern Railroad would soon make this hidden treasure its final destination. Hopes were high and money began to exchange hands. But the Panic of 1893 was right around the corner. Everett never would achieve the "big city" grandeur that Eastern speculators had originally predicted. Nevertheless, the sturdy city by Port Gardner Bay withstood financial panic, depressions, and riots to become the proud seat of Snohomish County. Once heralded as the "Pittsburgh of the West" and the "City of Smokestacks," Everett remains a dynamic city of industry.