Rudyard Kipling – eager to turn a quick dollar. A new community began to take shape. In 1902, the Hotel North Vancouver was built; in 1905, the first bank, a branch of the Bank of North America, opened. A newspaper, the Express, commenced publication in 1905 and in 1906 the British Columbia Electric Railway began streetcar service. Industry, particularly shipbuilding, became central, with the nearby stands of trees a rich resource for a society in which ships, houses and most other manmade things were constructed mainly of wood. The Wallace Shipyards moved in 1906 to the area just east of Lonsdale Avenue, drawn by the arrival of electricity. Over the years, this company, later known as Burrard Dry Dock and then Versatile Pacific Shipyards, became a major force in the local economy. Many of the shipyard's buildings still stand although the company has now ceased operations. Economic prosperity and rapid growth in the Lower Lonsdale area of North Vancouver led to the establishment in 1907 of the separate City of North Vancouver, with a population of approximately 1,500. West Vancouver separated from the District in 1912. Apart from the addition of Moodyville in 1915, the boundaries of the City have not changed, even though far more people now call the District home. Communications with Vancouver have always been an important factor in the development of the North Shore. The first ferry service was supplied by "Navvy Jack’s" rowboat in 1866. In 1867, the Sea Foam established regular ferry service that continued until 1958. The SeaBus re-established water transportation in 1977. Rail service was slower in developing. While the Pacific Great Eastern Railway inaugurated a 12.7-mile run from North Vancouver to Whytecliff Park in 1914, it was not until the completion of the first Second Narrows Bridge in 1925 that rail and road links with the Lower Mainland supplemented the local ferry service. Early plans for North Vancouver were ambitious. However, early grandiose plans met with a number of setbacks. The real estate boom was overtaken by a worldwide depression in 1913 and then World War I delayed many projects. The depression that began in 1929, coupled with disruptions to communications over the Second Narrows caused by ships colliding with the bridge, led to economic difficulties and severe tax shortfalls. Both the City and the District were placed in receivership in 1933. But the opening of the second road crossing, the