The first letter of the first word of the title is cut off, and all of the title is very faint. "Union" is our best guess for the first word, based on the sign in the center: Twana Tavern. This was the Hotel Stumer until 1910.
Union is south of Hoodsport and Lilliwaup on Hood Canal.
There is another Image 995 (995 - Steel Stpucture of 42 Storie L.C. Smith Bldg. Seattle) showing the Smith Tower under construction in Seattle. Reuse of image numbers and different image series make it difficult to know how many images Otto published.