English:

Caption on image: The water front from the Catholic Cathedral. Seattle

• Subjects (LCTGM): Waterfronts--Washington (State)--Seattle--Aerial views; Elliott Bay (Wash.)--Aerial views; Marion Street (Seattle, Wash.)--Aerial views; Apartment houses--Washington (State)--Seattle--Aerial views
• Subjects (LCSH): Central business districts--Washington (State)--Seattle; Bays--Washington (State)--Seattle

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We can narrow this down a lot further than "probably between 1900 and 1920." Most likely 1906-7, though it could be just a tiny bit outside of that. The key here is the First Presbyterian Church (built 1906-1907), a bit right of center. It's hard to tell at this resolution/quality, but it looks like it's under construction. In any case, the Cobb & White buildings aren't there yet, so it's before 1910; the Hotel Lee (foreground, just left of center) isn't on the 1905 Baist Real Estate Atlas of Seattle map (plate 3), nor are the row of hotels north of the Central School, so it's no earlier than 1905.

Also: the original captions was "The water front from the Catholic cathedral". Saint James was completed 1907.