-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
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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
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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;