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About Morning Oregonian. (Portland, Or.) 1861-1937 | View Entire Issue (Jan. 1, 1900)
-20 THE MORNING OREGONIAN, MONDAY, JANUARY 1, 1900. 'PHDTI AW1YC CBUATBAMC 1 1 1 1 1 ! h U i 1 1 h I 11-4 I IV i l I They Are the Strongest Institutions in the Pa cific Northwest FINANCIAL POSITION OF Influence of Portland Extends to Every Part of This Field De posits of the Four Local National Banks Amounted, on December 2, 1899, to $7,842,873.03- - The new era of prosperity finds Port land where she always has been the bead and front of the financial affairs of the Pacific Northwest. Adversity never dis turbs Portland's position; prosperity strengthens it tenfold. After the crash of 1S78, Portland went down with all the great financial cities, and when the storm had passed, she bobbed up again. Dur ing the depression which succeeded the commercial and railroad crisis of 1SS3 peo ple who had nothing else to do cast about for a financial center to taice the place of Portland. They eaid: "We are to have an era of Immigration and expansion, and Portland cannot hold the trade." The 9e9aj)eeoe6eco099e9c69t9e9aeaaese9e98ee0ae9 Statement Tm!rrB Hrst Merchants Resources National. National. Loans and discounts $1,317,083 16 $ 884,782 72 United States bonds 1,400.660 00 50,000 00 Other stocks and bonds 2.407.666 19 49,160 32 Premium on United States bonds 35,000 00 4,000 00 Real estate, furniture and fixtures 8,650 00 107.970 75 Redemption fund. United States Treasurer. - 22,500 28 2,250 00 Due from other banks S87.9S6 78 30,540 15 Due from reserve agents 509,409 88 . 63,838 53 Cash on hand 1,000,633 25 251.S96 35 Total .'. 57,169,589 28 $1,544,438 82 Liabilities Capital stock paid in $ 500,000 00 $ 250,000 00 Surplus and profits, less expenses and taxes paid 673,431 27 55,716 91 Dividends unpaid Circulation 413,250 00 45.000 00 Deposits, Individuals and banks 5,5S2,907 99 3,193,721 91 Total $7,169,589 25 $1,544,438 82 eO90000099e9tOO9e999e999e90 99OOe9999999e0O9e99e99 era of Immigration and expansion camo and passed and Portland's position was not affected In the least Klondike gold, good prices "for products of ranch and range, commercial depression and restored confidence have created another era of building up, and Portland is still the dic tator of the financial policy of the North west. The development of tho country, the building up of towns, the inaugura tion of manufactures have added to the monetary strength of the metropolis. Ten years ago, 20 years ago, 30 years ago no enterprise was started until the financial pulse of Portland had first been felt; no bank opened its doors without first arrang ing for a correspondent at Portland; no Eastern capitalist sent his money to this section of the West for investment with out first asking the opinion of some one la Portland as to the advisability of the step. The same is the case today; the same will be the case 10, 20, 30 years from today. Whatever Portland says about finances is financial law in the Northwest. Nearly all of the money that circulates in this section Is distributed from here. If a Port land manufacturer buys raw material from the producers of the Inland Empire, pay ment is made through the banks of Port land. The producer uses the money so re ceived to pay his hands; the hands pay their store bills; the storekeeper settles with the wholesaler or the manufacturer at Portland, and the wholesalers and the manufacturers deposit the money in the banks of Portland until it is needed for another debt-paying tour. It is the same If the Portland broker buys hops in the Willamette valley; if the Portland exporter bujs wheat m the Big Bend; If the Port land meatpacker bujs hogs, beef cattle or sheep In Eastern Oregon; If the Port land wholesaler buys prunes in Polk coun ty, watermelons In Josephine, woolen goods in Linn, logs In Columbia, salt-water hsh at Seattle, oysters at Olympia or Shoalwater bay, butter or cheese in Tilla mook, and so on. If Portland advances money for a stamp mill in Baker county, a kiln In Lane county, a warehouse In Washington county, a saw mill in Clatsop. a flour mill at Walla Walla, or for any of the innumerable enterprises which the Pa cific states axe capable of sustaining, the money eventually finds its way back to Portland In payment for material, ma chinery or some other commodity. In a financial way, the Northwest revolves, flg ' uratively speaking, around Portland. Controls the Field. Portland has a firm grip on the trade of this country. There is not a foot of ground in Northern California. Oregon, Washington, Idaho, Montana and all of Alaska, which Jt is possible to cover, that representatives of Portland mercantile companies do not travel over In quest of business, Portland undersells all compet itors in this vabt territory. The names of Portland's leading merchants are as well known in the towns in this field as are the names of the home merchants, while the names of Portland's bankers are household words Portland has been buying from and selling to the people In this country for upward of 40 years. Everybody recognizes the financial su premacy of Portland. The Eastern capital ist does when he sends his money here for Investment; the Eastern manufacturer does when he accepts Portland exchange as he would Chicago, Boston or New York exchange; the Interior banker does when he makes haste to establish close financial relations with Portland; and the bank clearings prove Portland's suprem acy. John J. Valentine recognized Port land's advantageous position In no uncom mon way w hen he came up here from San Francisco and, bought the Commercial Na tional bank, converted It into a private, and gave It the full benefit of the Wells Fargo millions. Mr. Valentine Is one of the best business men in the United States. Buying the Commercial National bank was a business proposition with him, and not a matter of sentiment. He wanted to do business in the Northwest, and he bought the Commercial National with which to do business. If, in his opinion, he would have been as well off in Seattle, Tacoma, Spokane, Snohomish, Everett or Fairhaven he would have Invested h'.s cap ital in one of those towns. His aim was to establish himself, not in a city In tho Northwest, but in the city of the North west, in the heart of the financial system. He chose Portland because Portland is the financial city Bank History. The flrst bank to he established In Port land was opened in June, 1S59, by the lat WiUlam S. Ladd and C. E. Tilton. It is still known as Ladd & Tilton's bank, and Is one of the leading financial Institutions of the Northwest. This Dank supplanted the express companies as a depository for .money and valuables, and did all the busi ness of Portland for nearly seven years. METROPOLIS IS SECURE This bank is known to every man In, the Northwest, and ranks with the largest and strongest institutions In the West. Its founder, the late W. S. Ladd, was a man of great discernment, and of broad and liberal views, and was long known ! as one of the wealthiest men of the 'West. William . M. . Ladd, who was brought up in the banking business under the eye of his father, and Charles E. Ladd continue to handle the business of the institution In the conservative and business-like method which Has grained for bis bonis its great standing. j In Mayn 1866, tho First National, the ) strongest national bank In the Northwest, I was opened. L. M. Starr, whose name is familiar to all old-timers in' Oregon and Washington, was president, and James NATIONAL BANKS OF PORTLAND of their condition, December Steel, who Is still actively interested in building up Portland, was cashier. Three years after the opening of the bank it' passed into the hands or H. W. Corbett and Henry Failing. The Bank of British Columbia, the first of the English banks, came in lSbtj, and the London & San Francisco in 1882. I In 1883 the Willamette Savings bank was opened, and in lb&o it was merged into the Merchants National, which is a strong concern. J. Frank Watson, the president, is a man who is identified with the strong est and most conservative elements la . Portland, and he is ably assisted by the cashier of the bank, Mr. Ralph W. Hoyt, whose popularity with the best elements of Portland's people was demonstrated by his election by the largest of majori ties at the last election to the position of county treasurer. The Alnsworth National bank holdB the best of reputations. It was opened in 1885, with L. L. Hawkins as president, which position he held up to January, 1836, when he retired entirely from the busi ness, J. C. Alnsworth being elected to this position. Mr. Alnsworth is a young man of energy and ability, having been edu cated by his father with the idea in view of taking the head of this institution. The Commercial National, now Wells, Fargo & Co.'s bank, was organized a number of years ago. Its president is John J. Valentine, who is president of Wells, Fargo & Co. The United States National was or ganized in 189L It began business in the Kamm block, but moved into the Concord block, on Second and Stark streets, when that building was completed. It is very conservative and has a high standing. Its president, Tyler Woodward, is one of Portland's foremost citizens, and he has associated with him men ot the highest1 integrity and of great means The cashier of this bank, Mr. F. C. M.ller, came to Portland in 1890 for the express purpose of organizing the bank. Backed by East ern capital and thoroughly equipped by 20 years' experience as a bank manager, he had little difficulty in enlisting the attention and capital of a number of the best men in Portland. Mr. Miller's efforts in the matter of. building up the business and reputation of the institution with which he is connected have been well directed and effectual. The community esteems him as a. careful, prudent banker. The Portland Trust Company was or ganized in 1S87. It grows stronger each year. There is no stronger bank In any of tho Pacflc states than the Security Savings & Trust Company. It has succeeded to a large percentage of the business for merly done by the Portland Savings bank, and has back of it the greatest Interests in Portland, its directors comprising the names of Oregon's greatest financiers. The Hibernia Savings bank was or ganized nearly five years ago. Other banks are the Bank of Albina and the Citizens' bank. Portland's pioneer banks, the First Na tional and Ladd & Tilton, have given many evidences of their Inherent strength. It is encouraging to note that they are the products of Portland enterprise and capital. It is also noteworthy that one Is still in the control of one pioneer, and that the other is controlled b the de scendants of a pioneer whose name will never be forgotten In this part of Uncle Sam's domains. In fact, some man whose name is familiar to pioneer times is con nected with every prominent bank of Portland. The First National gives us H. W. Corbett; the Alnsworth Na tional, J. C. Alnsworth; the Security Sav ings & Trust Company, ,A. Bush and others; the Merchants National, Ralph W. Hoyt and George W. Hoyt; the United States National, Tyler Woodward and Jacob Kamm. LADD & TILTON. Oldest Banking House in Portland Its Great Financial Strength. The banking house of Ladd & Tilton en Jos the proud distinction of being the oldest banking institution in the city of Portland. It was established in the year 1S59 by Mr. W. S. Ladd, who, during his life time, was one of the most conspicuous fig ures in Oregon's history and In the prog ress and growth bf the state. From a comparatively Bmall beginning, the bank finally became one of the richest, most influential and most substantial financial Institutions on the Pacific coast. Mr. Ladd died in 1893, having accumulated a very large fortune, and since his death the conduct of the banking business has been in the hands of his sons, Mr. William M. Ladd and Mr. Charles E. Ladd, whose business education and banking experience were perfected under the watchful over sight of their father. Under their ablo and conservative management, the bank has continued to flourish and prosper, and It is now doing one of the most extensive banking businesses In the entire North western territory. It numbers among its I clients many of the best business houses of Portland, and many, of the. strongest I Vnlrei In i Inform trvmnn TtrVinaa Vmal. ness Is tributary to this city. In the ex tent and value of their various interests in Portland and the Northwest, Ladd & Tilton are surpassed by no institution here; nor is there any institution whose interest in "the development and prosperity of this city is keener or more, identical. The vast resources of Ladd & Tilton stand out con spicuously as one of the great bulwarks of that financial safety and strength which give to Portland its pre-eminent prestige as the leading commercial city of the Pa cific Northwest FIRST NATIONAL. Portland's Great Banking House A Leading: Bnnlc of the Coast. Divorced from all sentiment, there Is no factor which counts for so much in the legitimate business of banking as solid figures. A bank that through a long pe Tlod of years steadily shows an' increase in the volume, of money which a confi dent' public Intrusts to its care has de manded a popular recognition which no amount of detraction can hope to lessen. A solid bank, honestly, conservatively and ably managed, is often the mainstay of a community, the populace of which is too apt to be carried away at times by the speculative fever incident to a rising market. In the conservatism of Its bank ing methods, Portland follows in the same lines of safety that have led to the es tablishment of the greatest financial cen ters' of the East, and in the recuperative powers of legitimate business following periods of financial depression, the city has clearly demonstrated its claim to a rank among the leading banking centers of the country. Nothing shows more conclusively the importance of Portland as a commercial and financial center than the statement of the condition of the First National bank 2, 1899 United States National. 5317.878 67 51,300 00 86,241 35 3.000 00 38,874 10 2,250 00 192,745 02 93,761 83 158,671 25 Alnsworth National. $305,183 88 25,000 00 59,946 81 Total. $ 2,824,92s 43 1,526,960 00 2,603,014 67 42,000 00 298,738 00 28,125 00 645 341 84 691,200 76 1,610,952 59 63,243 15 1.125 00 34,069 89 24,190 52 99,751 74 5944,722 22 $612,510 99 510,271,261 29 $250,000 00 42,339 SO $100,000 00 31,150 78 $ 1,100.000 00 802,638 26 45,000 00 607,382 92 22 500 00 458.8S0 21 625,750 00 7,842,873 03 $944,722 22 $612,510 99 $10,271,261 29 999999 999e9e999090C999999e published on this page. The First Na tional had attained prominence as a lead ing banking house long before the city Itself presumed to any metropolitan pro portions. Started when Oregon's present metropolis claimed les3 than 7000 people, the bank has steadily grown until today i it is the leading bank in the Northwest and in a magnificent city of 100,000 popu lation, with a business that reaches to all parts of the Pacific Northwest, a district that embraces four large states, and which . contains a population approximately of i LOO0.000 people. The First National bank of Portland is the result of the life-work of the late Henry Falling, its president, and Hon. H W. Corbett, Its vice-president offices filled by these gentlemen for more than a quar ter of a century of its existence. Hon. H. W. Corbett, former United StaW senator from Oregon, has for many years past been prominently identified with the political and business life of Portland. The present officers of the bank are as follows: H. W. Corbett, president; George E. Wlthington, cashier; J. W. Newklrk, assistant cashier, and W. C. Alvord, sec ond assistant cashier. The statement published below will best show the condition of this bank, In which every citizen of Portland is warranted in I betraying some feeling of pride. Probably no bank on the Pacific coast can publish a better showing. Report of the condition of the First Na tional bank of Portland, Or., at the close of business, December 2, 1899: Resources. T-nnnfl rmd dls- i counts $1,317,08316 U. a. bonds to secure circulation 4opercenC, 1907 . ..$ 350,000 00 5 per cent, 1904 .... 150,000 00 500.000 00 U. S. bonds to secure U. S deposits 4 per cent, 1907 .... 400,000 00 4 per cent, 1925 .... 100,000 00 500,000 00 TT H TinnrTn nn Jinnrl 4 per cent, 1925 .... 250,000 00 5 per cent, im .... lw.uuu uu 3 per cent 660 00 400,660 00 Promliimi. nn TT. S. bonds 85,000 00 Other bond3 and se curities 2,407.666 19 Real estate 88,650 00 Exchange for clear- . ing-ouse 62,510 05 . Due from treasurer TJ. S. .i 22.500 00 Due from other banks 887,986 78 Due from reserve I axrents 509.409 88 " Cash on hand 948,122 30 1,920,629 91 $7,169,589 26 Liabilities. Capital stock Surplus and undivid ed profits Circulation TiPtintiltR. individual $ 500,000 00 673,431 27 413,250 00 and banks $5,083,018 58 Deposits, U. S 499.889 41 6,582,907 99 57,169,589 26 WELLS. FARGO & CO. Wonderful Shovring of a Great In stitution. , . I After 3 P. M the hour at which busi ness was closed on the 31st day of July, 1899, Wells, Fargo & Company bank made up a "Statement of Condition," which we copy for the benefit and infor- matlon of our readers: 1 Assets Loans 511,802.745 47 Bonds, stocks and warrants... 1,101,232 88 Real estate 1,263,924 15 Furniture and fixtures 13,845 29 Miscellaneous assets 10,719 74 Due from banks and bankers.. 1,085,419 30 Cash 2.585.SS8 93 Total $17,866,775 76 Liabilities Capital, paid up $ 500,000 00 Surplus .' 5,750,000 00 Undivided profits -1,350,537 49 Deposits, banks and bankers.. 1,691,947 90 Deposits, individual 8,674,220 37 Total 517,866.775 76 It is a wonderful, shbwlng, and one of which the original organizers of the I company probably never conceived a hope 1 or formed an expectation. On the day indicated, the present bank and branches were carrying deposits aggregating $10, 266,238 27, which far more eloquently than words demonstrates the absolute confi dence thls organization enjoys. This feel- , ing is not confined to the Pacific slope though the company has its origin In Colo radobut it extends throughout the en tire continent and even to the prominent financial oenters of Europe. The company's capltal'zation is $8,000,000, I and when the statement above alluded to was made, there were available assets j on hand footing up 517,866,775 78. It is not 1 surprising, when this remarkable array of figures Is considered, that depositors should confide their funds to Wells, Far- go & Company with a feeling of perfect ' security. The main bank, located In San Fran cisco is under the immediate supervision of the president, Mr. John J. Valentine, than whom there are no brighter or more popular financiers in America, and Mr. Homer S. King the manager of the en tire banking system whose intelligent and successful control of the great trust reposed in him has created for him a most enviable reputation in financial circles. The patrons of this bank are composed largely of the heaviest business firms of San Francisco, whose transactions run into the millions. The New York branch is handled by Mr. H. JB. Parsons, who stands deservedly high amongst the bankers In that great commercial center, and his business is with and amongst the largest houses of the wealthy metropolis. Another branch is maintained at Salt Lake city, in Utah, and there, as else where, the business is handled with won derful ability and marked success. Mr. J. E. Dooly controls at Salt Lake and his fitness for his charge is best attested by the fact that hi3 management dates back without Interruption and with uni form satisfaction to the early '70s. The Portland branch the youngest was established a little more than two years ago, but while new in this field, it stands today proudly near the front and it continues steadily to grow into promi nence and is rapidly becoming one of the most important factors in our city's de velopment. An Interesting paper might be prepared relative to the causes leading up to the introduction of this branch into Portland, but such Information is perhaps outs'de the province of this review. Suf fice it to say in that connection that to Wells, Fargo & Company the many de positors of the bank they succeeded owe much more than they probably realize. , Ample funds placed here by them at a critical period unquestionably saved such depositors a counterpart of the disastrous calamity experienced by those whose money was tied up in the Port land Savings bank and it is be lieved their aid at that time averted a crash that would have been far-reaching in it3 damaging effects. This condi tion is well understood by our business community and for that reason, if no other exists, there is a very loyal feeling toward Wells, Fargo & Company, which bids fair in due course to place the bank in question in the lead of financial con cerns in our midst. It already hai les some of the heaviest transactions of our commercial element and because of its ample resources is in position to finance deals beyond the ability of every bank to swing. The local manager, Mr. R. M. Dooly, has been some years amongst us, and he en joys an extended acquaintance in this vi cinity. His conservative 'methods and genial disposition are too well known to require comment at our hands, and his worth as a banker is evidenced by the healthy and steady growth of the business confided to his charge. MERCHANTS NATIONAL One of Portland's Oldest ana Strong est Banking; Institutions. No bank of the Pacific Northwest has made more rapid or substantial growth during the past five years than the well known Merchants National of Portland. Started as the Willamette Savings bank in 1883, it was afterwards reorganized under a heavy capitalization as the Mer chants National, mere Is nothing tnat shows better the condition of this bank, which but reflects the healthy condition of the finances of the city in which it has prospered than the statement that the de posits of '98 showed a direct Increase of 100 per cent over the deposits carried the previous year, and further that the de posits for '99 showed a still further in crease ot 82 per cent over the deposits of '98, a year that approached the high-water mark in the actual business done by Port land's people According to the report of this bank, Issued on December 2 last, the deposits on that day were shown to be $1,193,72182. The" success of the Merchants National may be attributed first to the fact that it Is conducted after business methods that are conservative to the point of abso lute safety, and second to the personnel of Its management. The president is Mr. J. Frank Watson, a business man of recognized ability In the community In which he has so long resided, and a banker of many years' experience. The vice-president and one of the active man agers of the bank's affairs is Mr. R. L. Durham, who enjoys a gieat degree of O90000O0O090909999099999099990000O000OO99O99999999990 ft i. t "i " i ! urn j' ' Hlli jUi'iiiiuuii lir !"r-ri ST - ''"u. u 1" "' --iHI j!J - j F r."i - ? .- 1 VVliAlAT.OAtAL BAN KiSS-O fill" I i -ua imm 'CA i dltfdilf iwwai imriujjf ma iiomn iimimffr,minitiiiiiimWliiHCTU"T' Comparative Diagram Illustrating the Increase In Individual Deposits 'in the National Bai ka ot Ore son, Washington and Idaho Since 1802 Smallest Chest Represents a Heisht of Six Feet. 9 009999999999999999999999999999999999999999999999909099009O909009O0909OOO0O0000 9 popularity with the business men of the city, and who has proved himself worthy of their greatest respect. Mr. R. W. Hoyt, who has long been "prominent in business life, Is cashier. He has been di rectly connected with this bank since It was first organized. The responsible du ties of the excellent clerical force of the Merchants National falls on the shoul ders of Mr. George W. Hoyt, the assist ant cashier. Two years ago the bank removed its quarters from the old location, on First street, to its present well-appointed and comfortably fitted banking-rooms on the corner of Second and Washington. The new location Is convenient to the center of the principal business district, and it is connected with all parts of the city by the numerous car lines which converge near the point of its present location. The Merchants National occupies today the best-appointed and best-arranged banking-rooms of any bank In the city. The bank ha3 a large list of correspond ents In all parts of the Pacific Northwest, and its customers have the benefit of its exchanges in all the Pacific coast states and throughout the Ea3t It does a busi ness in keeping with the metropolitan pro portions of Portland itself, and the sub- etantlal growth tho bank has made under tho control of tho present management promises for its future prosperity. THE TOOTED STATES NATIONAL. Ose of the Strong: National Bankins Houses cf the Northwest. A bank of Portland that from the day it first opened lta doors to business has LOANS AND DISCOUNTS OF NATIONAL BANKS Loans and discounts of the National banks of Oregon, Washington and Idaho are smaller than they were in 1S92, 1893, 1894 and 1895. In the period embracing the last of the good times ot the early '90s, the hard times, and tho present era of prosperity, loans and discounts touched their highest notch on May 4, 1893, when they were $32,752,459 03. Then they slumped, reaching the lowest point, $13,543, t.M SO, on May 14, 1897. Since then there has been a gradual recovery and on September 7, 1S99, loans and dis counts amounted to $16,738,692 79, which Is little more than half what they were on May 4, 1893. It is noteworthy that loans and discounts have been almost stationary in Oregon and Idaho during the present good times, while In Washington there has been a decided Increase. The small vol ume of loans and discounts is attributable to three conditions, none ot which 13 unfavorable. These are; First The banks do business on a more conservative basis than ever before, and closely scrutinize security before advancing money upon it. Second The people have money, consequently the call for bank money Is diminished. The holding of farm products for higher prices demon strates this. Third People who need money do not have to go to the banks for it, but can get It from Individuals. Fourth Cautious investigation of enterprises before engaging in them. It is safe to say that the $16,738,692 79 loans and discounts of September 1. 1899. represented moro actual and substantial business than did the $32,752,489 05 of May 4, 1891 Bank business today Is almost entirely free of fictitious values, 'and mushroom-rtown and other crazes. The following figures of loans and discounts for several yoars past axe given for comparison: Date, Oregon. Idaho. Washington. Total. Dec 9, 1892 $12,048,168 41 $1,919,309 65 $17,727,382 13 $31,694,860 19 March 6. 1893 11,864,728 79 2,018,108 35 17,692,004 21 31.574.841 35 May 4. 1893 12,657,071 90 2,029,177 35 18,166,239 SO 32.752.489 05 July 12. 1893 11041,979 68 1.920,793 26 14,879,146 33 27,841.924 26 Oct. 3. 1893 9,892.533 79 1.636,188 73 12,430.299 05 23,959,021 57 Dec. 19. 1893 8,940,963 70 1.545.824 60 12.298,867 36 22,785.655 26 Feb. 28 1894 8,166.578 41 3,442.358 12 12.308.622 74 21.917.559 27 May 4. 1894 8.242,379 16 3,455,388 33 12,128,567 85 21.826,335 34 July 5. 1894 8,057,311 25 1.456,857 47 11,872.655 39 21.386,824 11 Oct. 2. 1S94 8.000.827 93 1,447,488 21 13,434.699 50 20,883,015 64 Dec 19. 1894 7.776,42 45 1,469,164 33 10,478.743 41 19.724,330 19 March 5. 1895 7,497,761 83 3,433,460 82 9.8S5.837 00 18,817,059 64 May 7. 1895 7,486,071 28 1,436.152 05 9.516,204 88 18.433,423 21 July li 1895 7,341,286 47 1,297,628 00 9.305,576 42 17,944.490 89 Sent. 2k 1895 7.2S4.098 46 1,291,716 56 9,300.049 95 17.875,864 97 Dec 13 1895 7,145 932 89 1,359.66136 8.436.523 88 16,942.118 13 Feb. 28 1896 6.795,549 48 3,297.332 86 7,874.963 48 15,967,845 82 May 7. 1896 6,707.753 77 1,297,638 13 7.743,78011 15,749,177 01 July 14. 1896 6,692,160 12 1,265,434 85 7,532.395 75 15,489,990 62 Oct 6 1896 6372,213 36 1,197,733 35 7,038.01315 14.607.959 88 Dec l!7. 1S96 6 231413 83 1,165,902 54 7,013.44114 14.410,762 51 March 9. 1897 6,280.849 81 1.102, S97 47 6.537,71163 13.921,458 91 May 14 1897 6,028,914 19 3,062.671 02 6,452.409 59 13.543,994 SO Julv23 1897 5,954,66147 3,036,21410 6,679,943 25 13.570,813 82 Oct 5 1897 6.351.552 12 1,066.699 04 6,795.943 30 14.214.194 46 Dec 15 1897 6.008,453 04 1,108.267 81 7.270.943 97 14.337.674 82 Feb 18 1898 6.110 102 76 1.0S8.053 09 7.100.209 21 14.298.365 06 May 5 1898 6,325.994 62 1.169.279 79 7.196,431 24 14.692.705 65 July 14 1898 6,850.554 96 1,127,640 08 7.310.754 72 14.088.949 75 Sept 20. 1898 6,029,258 03 1.133.51131 7.402.757 93 14.565.527 33 Dec 3, 1898 6 087.830 56 1,268,022 09 8,053,686 26 16.409.538 91 Feb 4 1899 6125.390 82 1.2S4.906 57 7.911,55116 15,321.848 65 April 6 1899 6.247,525 84 1,347.266 21 8,071.62111 15.666.41318 June 30. 1899 6,254,280 24 1.12S.622 87 8.904.153 20 16,287.06131 SepLTV 1899 6268,373 53 1,039,263 27 9.433,055 99 16,738,633 79 e 9 e o o 9 0 9 9 9 9' 9 9 9 0 9 9 9 9 9 9 9 O 9 O 9 9 9 90 9)9)e09990000000090OCOO0O9O00O9O0OO0O0O adhered strictly to the rules which govern the conduct of all banks that succeed along permanent lines, is the United States National. This bank was organized by F. C. Miller, Its present cashier, with the backing of Portland and Eastern cap ital, and It has the fullest confidence of the community In which It has prospered. Its depositors today Include the most rep resentative of Portland's business men, and Its business throughout the country is entrusted only to those banks which enjoy the fullest measure of confidence In the cities In which they are located. Tho United States National has a most valuable list of correspondents situated in all prominent centers of population in thesUnited States. The most prominent of these correspondents are: The National Park bank, of New York; the Merchants National bank, of Boston; the Merchants National bank, and the Continental Na tional bank, of Chicago; the First Na tional bank of Denver, and the Nevada National bank, of San Francisco. The officers of the United States Na tional bank are: Tyler Woodward, pres ident; Jacob Kamm, vice-president; Frank C. Miller, cashier, and James Newlands, assistant cashier. It3 last published re- e?& fffeS '? Z&sZp tfoSaf ?eoces port makes the following satisfactory showing: Assets Loans , $404.120 02 Gold coin i 130,620 00 Demand exchange 296,786 90 Silver coin 2.530 20 Legal tenders 10,24100 U. S. bonds and premium 54,300 00 Real estate, furniture, fixtures... 38,87410 Redemption fund 2,250 00 Total $944,722 22 Liabilities Caoital stock $250,000 00 I Deposits . 607.382 92 .Circulation 45.000 00 1 Undivided profits, net 29,839 30 aurpius runa www Total $944,722 22 THEJ AINSTVORTH NATIONAL. The Healthy Condition ot This Bankj as Shown by the Statement Published Below. The statement showing the financial con dition of the Alnsworth National bank, published in connection with this article, shows a steady and satisfactory Increase I In business during the past year. A care ful perusal or tne ngures win snow taa this institution la managed in a conserva tive and thoroughly practical business manner. It is a pleasure in calling atten tion to the statement to note the continued and well-sustained increase in the amount of deposits, a showing that always speaks eloquently for a financial Institution. The Oregonlan hopes that tho same aatlafac- iss6soe90ee999e9sesceoeos8O tory growth will continue through years yet to come: Resources Loans and discounts.. ............ 4313,031 19 United States bonds 25,000 00 Other stocks and bonds 69,948 81 Real estate, furniture, fixtures... 63,193 65 Redemption fund, U. S. treasury. 1,125 00 Due from other banks 42.890 78 Due from reserve agents 16,491 54 Cash 122,766 83 Total -.. .3644,505 80 liabilities Capital stock .....$100,000 00 Surplus and profits 83,122 16 Circulation 22.500 00 Deposits and bank balances 490,883 64 Total .$644,505 80 STRONG VALLET BANK. Statement Showing: Condition ot the First National Bank ot Mo- Mlnnville, Or. The generally healthy tone of business in the Willamette valley is best shown by the satisfactory statements of the lead ing Valley banks at this time. The fol lowing statement of the First National 00000O00OO0O0000O0OO0O0009O i iwcnranrnui I ', ;j 1 1 'i .tX bank of McMinnville affords an absolute index of the prosperity of the rich com munity In which it is located. This state ment was made under date of December 2 last: Resources Loans and discounts $189,309 72 U. S. bonds to secure circulation 12,500 00 Banking house furniture and fix tures 3,315 75 Other real estate and mortgages owned 3,713 93 Cash on hand and in banks 72,011 90 Total .$280,851 30 Liabilities Capital stock paid in $ 50.000 00 Surplus fund 10,000 00 Undivided profits, less expense and taxes paid 32,703 62 National bank notes outstanding 11,250 00 Deposits, individual and banks.. 176,897 63 Total .$280,851 20 The officers and directors ot the First National are as follows: Jacob Wortman, president, Ed. Hendricks, vice-president. John Wortman, cashier. Arthur McPhuips. assistant cashier. Directors Jacob Wortman, John Wort man. Ed. Hendricks, J. W. Hobbs, Arthur McPhilips. W. C. NOON BAG C0MPAN1 ZiAHG3S57 HOTjSE OS THE KECD 02 THB PACIFIC COAST. Mnmrf&otnrera ot Flonz 3ac2cs, Oral Basa and Kindred Lines at Portland. For many years the prominence of Poi land as the foremost manufacturing dm of the Northwest has been upheld bj houses which have gained distinction among the most progressive and success-! ful in the country. Widely famous amonj these Is that of the W. C. Noon Bag Company, manufacturers of flour sacks! grain bags, tents, sails and all othei kindred work in that line. The premise used, four stories in height above thy basement, cover ground 95x100 feet in dl-j menslons and afford a spacious home foi the manifold activities of the great house! which has so long been regarded as onq of the foremost in the land. The officers' of the company are: W. C. Noon, preslJ dent; T. J. Armstrong, vice-president anJ treasurer; W. C Noon, Jr., secretary ail business men ot marked ability, wnosi well-directed efforts have given that house prestige and influence as one oi those best representing the commercla importance of Portland. This company draws on the East and South for its sue ply of cotton, and its burlap 13 lmporte direct from India. A large force of me and women axe kept, steadily employed among whom large sums of money arc! disbursed annually as wages. In addltlor to heavy expenditures for raw materia.! This company established business 1864, and as a pioneer In the manufacturj lng bag Industry it has been a leadei In. building up this art to the presenl large proportions until now the plan! may be said to have the most complete facilities for the manufacture ot these goods in tho United States. " n EILERS PIANO HOUSE. WVO. 2recf a Nerr Building to Be tjr the Demands ot a. Constantly XnoTeaslnff Business. One cf the most enterprising' and progrea slve ot Portland's mercantile establlshl ments la Eilera Piano House. This is at present located at 107 First street but will soon occupy the magnificent nev quarters now in course ot construction ai the corner of Park and Washington streets, an illustration ot which is shot in the art supplement of this ls3ua of The Oregonlan. Three energetio and most enl thusiastio young- men compose this which now enters upon the second year oi its history. Hy J. Eilers. the senior parti ner, has for many years been employe with several of the largest piano manul faoturera of this country, and for six ye prior to his coming West was connected with the W. W. Kimball Company, of Cbif cago, in the capacity ot general wholssali traveler. Mr. S. J. McCormlck was tho employ of this same factory for ovefj IX years, and Adolph H. Eilers has be a resident of Oregon since boyhood. Eilers Piano House controls the Wester agency of Chlckering pianos, of Boston! the Weber pianos, of New York, and thi Kimball pianos and organs, of Chicago ln struments that have been long and mofllj prominently before the musical public o the West. With agencies and- representee Uvea in all of the more Important cities and towns ot the great Northwest, this firm has handled an enormous businesi during the past year, and with the cbt facilities that the above-mentioned neT location will furnish them, they are conf fldent that their phenomenal record fof '99 will be very greatly surpassed Cx 1900. MMMM44'IIMaMHIMallMa ENTERPRISE PICEXIHG WOI La?sest In tho Northwest Noted tai tho Quality ot Its Products Thoa. S. Finneson, Proprietor. Mr. Thomas S. Finnegan, the proprieto of the Enterprise Pickling Works, hal been Identified with his lino of business for many years, formerly traveling in thi East. He came to Portland over u yean ago, and established the Portland Presenl lng Company, which he disposed of t the Pacific Vinegar Company. Durinl 1893 ne starxea nis present Dusiness, juca; ad nt thfv corner of East Alder and Unior which has grown to be an extensive plan! onrrvlnsr the lanrest stock north of Sal Francisco, selling the leading Jobbers anl having travelers on tne roaa conunuau Last season they put up the largeM amount ot pickles ever handled, in or gon, over 225 tons of cucumDers, also soi 90 tons of cabbage for sauerkraut, over tons of onions and 10 ot cauliuower. jui lng the previous Beason they ground u 100 tons ot apples for boiled cider, whic they ship in large quantities eacn ye to San Francisco. Raising piooies ior fftf.toT-ir la a Drofttable industry for fai era, paying from $150 to $200 per acre. mv vinneiran makes a specialty pnrtland" brand sweet pickles, guars teed superior to anything of the kin! produced in the West, and equal in ever respect to tho best Eastern goods. Ais other good seller la "Flag" brand bottleS goods both plain and mixed plciues. . mota r.n.tjmt3. mustards and sauces nil Wnrfc, horseradishes: also handles lart quantities of olives, olive oil, honey, otti "The best quality is ma motto. a ' TEE RESULT OF JUDICIOUS VERTISING. Good Goods 1 ell Placed by a Rellj able House. About 38 months ago a cigar was pt upon the market In Portland caLe! "Henry the Fourtn." Tnls cigar was er tlrely unknown on this coast up to thu time, but by letting the smokers knol of it through judicious adve backed up by the fine quality of goods, it has become in that short one of the most popular cigars on U coast. It is very seldom that good goods well advertised, do not become popua while poor good3 Invariably drop out sight, no matter what amount of advea Using Is done. The "Henry the Fourth! cigar is manufactured by BustlUo Broa & Diaz, at Tampa, Fla. Allen St Le"! are sole distributors for the Pacific coasi The following clipping taken from Tc bacco, of December 3, tells lt3 own storja "On Monday, Jose M. Diaz of Bustui Bros. & Diaz, arrived from a vl3lt to Tampa factory, where he had arranged fc a 40x45 feet three-story extension to tl factory, the contract being given to EJ denfleld Ac Jetton, to be finished in days, without disturbing present work oi pressing orders. The need ot this exter sion is demonstrated by the fact that Mi Diaz reports orders on their books froij leading houses for over 2,000,000 cigaxsv a CALIFORNIA KITCHEN, WIckham Eros., proprietors of the Ca fornia Kitchen, 283 Washington stree have made a decided success of their bus! ness by thoroughly understanding it. Thel have had years of experience la their lin have been located In their present qaarteS seven years, and not a few of their res lar customers have patronized them froij the very commencement. With thejj quality 13 ot the utmost importance v tlcularly so In connection with meats dairy products. Again, they have be especially fortunate in making a blend coffee peculiarly their own, which givs! splendid satisfaction. The Callfoi Kitchen Is kept open day and nighj always gives prompt and courteous ser Ice and pays Its employes the best arles in their llnoj using only white hel;