THE UNITED AMERICAN Wouldn’t you like to have 12 dividends every year Many of our customers have already purchased or subscribed for shares of our First Preferred Stock. It nets them 7.20 per cent on every dollar invested This is one of the most attractive investment opportunities now before the Portland public. Here are a few reasons why shares should appeal to you. Your income will be regular and dependable. 4. Dividends exempt from normal federal income tax. Dividends paid by check on the first of each month or quarterly, as preferred. Exempt from Oregon personal property tax. 5. Your savings will be safe. 6. Business is firmly established, well managed and permanent 7. They yield 7.20%. Price $100.00 per share. If you subscribe for shares on our easy payment plan, you may pay $10.00 per share down and $10.00 a month per share till fully paid for. We will pay you 7% interest on all your payments until the shares are yours and then your divi dends begin to accrue immediately. Act on this opportunity today. Inquire at our Investment Department, 820 Electric Building, now. Portland Electric Power Co Portland, Salem, Oregon City and Vancouver, Wash. ^IIIIIHIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII iihiiuhuiihihiiii ^ OUR FOREIGN DEPARTMENT YOUR AMBASSADOR NOW N THE DAYS of good Queen Bess trading com panies were diplomats and ship owners as well as merchants. They maintained ambassadors at the courts of foreign kings in addition to their regular agents and fleets. Skip a few hundred years. Today you may export car goes worth fortunes, yet never own a ship. You may have no one on a payroll outside of Portland, yet safe ly trade with the fringes of the world. Our Foreign Department, but a few blocks from your offices, makes all this possible. Through com petent correspondents we can help you with your ex port or import business in any part of the world. Collections, credit information, handling documented paper — we handle every detail of foreign trade. We will be glad to serve you, I THE FIRST NATIONAL BANL OF PORTLAND OREGON ■THE FIRST • NATIONAL BANK WEST OF THE ROCKY FOUNTAINS Choice of Limited Trains TO Spokane and the East VIA Spokane, Portland & Seattle Ry. The “North Coast Limited” leaves Portland in the morning and the “Oriental Limited” leaves Portland in the evening for Spokane. Montana Points, St. Paul, Chicago and the East. The former, east of Spokane, moves via the Northern Pacific Ry., and the latter via the Great Northern Ry. to St. Paul, thence the Burlington Route. Both are all steel trains, giving every in ducement for comfort and pleasure. CONSOLIDATED TICKET OFFICE Third and Washington Streets UNION PASSENGER STATION Fifth Street at Stark Place Your Orders With The United American Advertisers—and Tell Them Why