 It lasted for eight years, the McFadden Wharf area was a booming commercial and shipping center and a company town began to grow.However, in 1899, the Federal Government allocated funds for major improvements to a new harbor at San Pedro, which would become Southern California's major seaport.The McFadden Wharf and railroad were sold to the Southern Pacific Railroad that same year, signaling the end of Newport Bay as a commercial shipping center.