This appears to be one of the "mosquito fleet" of passenger ferries that sailed Puget Sound in the early 20th century.
This image is courtesy of Dan Kerlee.
There is also an Image 229 (229 - Front View of A.Y.P. at Night) showing an exhibit hall at the Alaska Yukon Pacific Exposition, the World's Fair held in Seattle in 1909. Perhaps Otto reused the image number because no one would be interested in an A.Y.P.E. card after the exposition ended.