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About Morning Oregonian. (Portland, Or.) 1861-1937 | View Entire Issue (Jan. 1, 1901)
-SSF7 T'Ff.r T s " -r' r--ey'?', vrafssnujfcnp- y- Tqpyjaw a"' ' f"JT5!R '1i?5P? " "W? J"."11 ' ?; W' '' "r' f - 3 THE MORNING OREGONIAN, TUESDAY, JANUARY 1, 1901. GREAT BANK CENTER Portland the Financjai City of the Northwest. BUSINESS BY SAFE METHODS Banlc Clearances Sever Padded In dividual Deposits of the National Banket of Oresoix Agrarregrato Nearly $12,000)00. . As a banking center Portland outranks any city on the. Pacific Coast except San Francisco. Its banking' methods are dis tinctively the methods of the safe and conservative financier, whose ability and whose probity may commend h"i i0 jne largest amount of recognition from the business community whose money he constantly handles. There is no room In Portland for the man, however aggressive, who runs his bank as he would run a real estate office. A successful banker Is amenable to a higher law than regu lates the actions of the average man of business who may have attained promi nence in bis calling. As a custodian of tho public's funds he holds a position of trust that effectually discourages the open display of any little foibles qf character that may safely be indulged by other leading business 'men. A successful banker Is a man whose moat Valuable asset Is his good name, and the banker who falls to sacrifice bis entire fortune If necessary- In bis effort to protect his depositors, whose signal faith in his In tegrity has been, demonstrated in their single act of entrusting their savings to his care, is not cast In the mold from which the type of man of the highest moral character Is formed. Portland,, like other financial centers of the, world, has passed throuch the ordeal of wildcat If not dishonest, banking, and the experi ence calned Is in Itself a positive deter rent factor for the encouragement of un safe banking methods in Portland in. the future. " Portland's bank; clearances hare- never been padded. Tho dally public statement Portland clearances and balances is accurate index of the business t)ia Is regularly handling. The bankers Portland have adopted methods of dling their own and the people's ncy which In themselves prove an ef- tual safeguard against dishonest prao- es, and which discourage the issuance o overarawn clearance statements that h e done so much to discredit the clear el arance showings of some other North w stern cities. Portland banks do-not ae- ct t checks on outside banks for deposit. Tl ese securities are taken by the local batiks for flection only. Portland bank ers religiously refuse to lend money on unproductive property of any kind. The barks here carry, at all times a sufficient imount of money to meet every leglti nate demand of the business community, ind as the clearing center for tho Pa iflc Northwest Portland banks are able o advance all the money needed to move he large crops of the interior sections to 'ortland for shipment to other Coast tnts, and for heavy export to the Orient ad South America. , As an Indication of the prominence of rjruaiiu an muuuas ctmier. uio siaie- ent of the First National Bank of Port- rortland ad a bankitftr center, the state- aid alone will be read with Interest. pe two sreat banking houses of Port lid are the First National and the. bank Ladd &. Tilton. The latter, however, ta private bank, and a statement of its sources, which are as large perhaps as vse of the First National, are not regu fcy made for public inspection. On De tiber 13 last the deposits of the First f.lonal Bank aggregated 45.535.130 11. statement of this bank In full Is pub lied below. Of the 18 banks of Portland tf-e are six banking bqusea whose In dldual assets and deposits Teach far aho the $1,000,000 mark. All of these bals are solid, all are oonducted on a pajg basis, and the paper of any Port landjank today will pass at sight in any of th great financial centera of the con tinent Tbe'ollowlng table shows the Individ ual deposits and loans and discounts of the National banks of Oregon on tho dates mmed: Individual Loans and . Deposits. Discounts. Sentember K ,1900 ..Jll.7S2.OflO 39 17.572.793 05 .."- . X: V..IV "i'iT'iii. 'iTTT'.i 7:491.187 93 Ap-il 2&. lSdO 11.463.495 June liMV ii,iHUU at 7.316,101 26 6 973.333 68 6268.373 53 6.057,830 56 6,372,213 36 Februarys 1900.... 11,449.71 23 September 7, 1893... 11.781,130 33 December 1. 189S.... 9.S5S.919 14 October 6, 1896 7,347,651 51 The statement of the Portland banks offered for publication In this number are as follows: THE PIHST NATIONAL. One of the Most Snccesafnl of the Great Banks of the Coast. Tho prominence of the First National 4- Photo by lu J. Hicks, Portland. AINSWORTH NATIONAL DAMC BUILDING, PORTLAND. t J. C Alnsworth, President; Percy A Bcbmeer, Assistant Cashier. Bank of Portland is a fitting monument to the ability of Hon. EL W. Corbett and Hon. Henry Falling, Its, founders. This bank today Is the bulwark of the Pacific Northwest, and to It is largely due Port land's financial strength. It 1b the desig nated bank of deposit for United States Government funds, and it )s also used largely by the interior banks of the North west for the deposit of their reserve funds. The officers of tho First National Bank are as follows: H. W. Corbett, president; A L. Mills, vicc-presldept; G. E. Wlth- lngton, cashier; J. W. Newklrk. assistant 1 cashier; W. 6. Alvord. second assistant cashier. The statement at "the First Na tionaTBank published herewith Is In Itself a sufficient Indorsement of Its high, finan cial standlnr. Report of the condition of the First Na tional Bank of Portland, Or ,.at the close -of business, December IS, 1901): Resource. Loans and discounts " 51,849,770 SO U. 8. bonds: -4 per 'cents. lT...r,75O.O0O 00 4 T?er cents, JtfS.-r. f330.000 CO IJLCO.OOO 00 Other bonds and se- entitles Bank-premises Other real estate.... Due from Treasurer . 07,466 03 75.000 00 -10 650 00 TJ. J3. ,..S 25,000 00 Duev from other banks ,- 4l024 25 Due from reserve agents 333X5 77 . Cash on hand 1,183.631 02 1.85S.179 04 Total S7,30i;065 87 500,000 00 Liabilities. Capital stock .Surplus and undlvld- ea prongs Circulation Denosits Individ 770 576 76 435,350 00 ual and banks $5,039,151 31 Deposits U, S 435,987 SO 535.13311 Total ., ,..,...$7,301,065 87 LADD fc .TILTON. Tbe Oldest Banlc. in Portland Its Great Financial Strength. The oldest and one of the most promi nent financial institutions. in .the .Pacific Northwest Is the banking house of Ladd &. Tilton. It was established In 1859, by the late W. S. Ladd and Charles E. Til ton, and was for seven years the only banking house of which Portland could boast. Mr. Tilton retired from the firm in the year 1878, and from, that time the business was owned by Mr. Ladd alone, although the firm name was not altered, and stMJ remains unchanged to the present day.v In the year 1S92 Mr. Ladd died, leaving' to his two sons, "William M. Ladd and Charles E. Ladd the care and responsi bility of conducting his extensive banking business and the. other numerous enter prises embraced in bis estate. That their administration of the Ladd properties has been able and judicious. Is fully attested ty tho splendid growth of their banking; business, and the unblemished reputation which tbe house bears for its honorable and conservative methods, in all its deal ings with its customers and the public Their management of the bank has been conspicuously free from any con nection with speculative enterprises, and has been kept within the strict confines, of legitimate mercantile thanking. Dur ing the great financial panic of 1893 the large resources of Xadd & Tilton enabled4 them to render to their local customers, and to many banks in the neighboring cities and towns financial assistance, v.hich was of lasting and incalculable value not only to the persons directly concerned, but to the community at large, by reason of the widespread effects which A were felt at that time by the attitude evinced by the banks In coming to the rescue of those In need of financial help. This, however, was all done In such an unostentatious way that none but those familiar with tho actual facts realize the A I Morgan, Vice-President; R. W. full measure of tho benefits sustained by the people at large from the financial sup port given by Ladd &, Tilton during this critical period. In addition to their banking business, the Ladds are large owners of both Im proved and unimproved real estate in Portland, their property embracing some of the best business locations In the city. Both William M. Ladd and Charles E. JLad'd are men of the highest standing and character Their constant and unwaver ing loalty to the Interests of Portland, of which they are both native citizens, is well known, and there are few matters jBMJMKyMilLlllli;1llli-Mli(.i.i.. - m.emiMM0iutw J" $-t MMMMMMMHMHtMMMMtOUtUHHMMMHMMt'H4Hn4-tMttMMMnet pertaining to the welfare of the city with which they are not prominently identified. WELLS, FARGO & CO. One of the Great Banking; Houses of the West The Portland Branch. A backing of over $17,000,000 is the best guarantee a bank can offer to Its patrons fr-0Ce0 'MMl'ttMMMMM 4 4 & BANK OF LADD TILTON, PORTLAND. that its affairs have been directed by men. of the createst abilities as finan ciers and of the best business training; A bank with this amount of capital be hind it is so strong that even during the stress of the most severe panics it is al ways able to meet every reasonable de mand of Its patrons, and its safety in the hands of the principals who through their ability have contributed directly to. Its permanent success is no more a sub ject of doubt than is the ability of the Government itself to take care of its paper as it matures The history of Wells, Fargo & Co. is tho history of tho Pacific Coast itself, with which Its fortunes have been so closely connected. As a public carrier of fast freight products it is the one cor poration ot the West which has never been subjected to severe popular criti cism. The name Wells, Fargo & Co has always been the watchword for safety and prompt service Wells, Fargo & Co, has" never repudlateda just claim, and its credit has stood on the rock which the ability and integrity of its manage ment have made inviolable. In the methods of its banking business Wells, Fargo & Co has adopted tho same policy which has contributed the most to the success of Its express busi ness The president of the express com pany, the Hon John J. "Valentine, is also th:j president of the bank. The manage ment of the banking business, so far as directing the details of the business is concerned, and also outlining the general policy, with the approval of the president, Is in the hands of Mr. Homer S King, one of tho ablest financiers of the West. The head office and principal bank of-the banklrg corporation Is located In San Francisco Outside of San Franclaco the bank conducts three important branches One of these is located In New York, one In Salt Lake City, and the third In Portland. The success which the local branch has already attained is largely due to the personal popularity of its local manage ment. The cashier of the Portland bank is Mr. R. M Dooly, a gentleman who was Intimately connected with the banking business of Wells, Fargo & Co for y ears, before he was detailed for the special management of the Portland branch Mr. Dooly Is thoroughly in touch with the management of the parent bank, and his ability has received no greater degree of recognition from his superiors than it has from the people of Portland, with whom he has enjoyed the most cordial rela tions for so many ears past. Mr. Dooly is ably assisted by Mr John E Miles, the assistant cashier Mr Miles has been connected with this bank for a numbsr of INTERIOR OF THE FIRST years, and bis ability Is fully recognized byvthe business people of Portland. Wells, Fargo & Co. first established Its local bank in Portland October 3, 1897. Mr. Doojy has been In, direct control of the affairs of the Portland branchy since that time. , " The strength of the banking business of Wells, Fargo &. Co can be best appreci ated after aTtudy of the following- state- Photo by I J. HJcks, Portland, i meat of its condition made at the end of the last fiscal year, July 31, 1900: Assets. Loans $ 3,446,888 10 Bonds, stocks and warrants... 1,261,290 47 Real estate 1,231,914 57 Miscellaneous assets 9,205 58 Due from banks and bankers.. 1,111,601 91 Cash 4,030.413 55 Total , 7,0914 IS 6et View Showings Portion of Interior of Merchants National Bablc, Portland, Or., Corner Second and Washington Streets. Liabilities. Capital, paid up...... ? 500.000 00 Surplus 5,750.000 00 Undivided profits . 1,928,895 63 Deposits, banks and bankers.. 1.084,015 35 Deposits, Individual 7,820.302 60 Total r. 317,091,214 18 ! k MERCHANTS' NATIONAL BANK. Individual Deposits Increase $1,000, f OOO in Three Years. In speaking of this bank in the special NATIONAL BANK, PORTLAND. edition of The Oregonlan one year ago particular attention was called to the rapid growth made by this bank during the year 1899, and The Oregonlan takes great pleasure In again speaking of the handsome showing made during the year 1900 The grbwth of this bank has been such as to warrant special attention: In fact, no better evidence could be produced of the continued growth of Portland and of the Northwest than is revealed by an examination of the statements made by this bank to the Controller of the Cur rency for the months of December during the sast three years: Loans and Discounts. December. 1897 S 376 8C514 Dec-ember. 183S 634,102 54 December, 1839 8S4 7S2 92 December, 1900 1.0S4.7S9 70 The deposits for the corresponding dates were. December, 1S97 S 429,233 SS December, 1S98. 773,927 64 December. 1899 1.C03.721 91 December. 1900 1,428,69144 Showing a net Increase in deposits for tbe three years of $1,000,000. This showing is a remarkable one, and one that thex management may justly feel proud of, ard places the bank second among the National banks of the state. The bank numbers among Its depositors many of our leading business firms In this city, as well as the leading banks in 40 or more of the principal towns in Oregon, Washington ard Idaho CAAADIAN BANK OF COMMERCE. Amalgamated With Bank of British Colnmbla Some Interesting- Facts. The Canadian Bank of Commerce ha3 absorbed the Bank of British Columbia, with its 10 offices in British Columbia, Ore gon and California, and one in London. The office In Portland will remain In the Commercial building, at the corner of Sec ond and Washington streets. The Cana dian Bank of Commerce has 70 branches thrbugout the East and other points, and with the absorption of the Bank of Brit ish Columbia, the number of branches will be Increased to 80 The head office of the Canadian Bank of Commerce is at Toronto. The combined capital of the new institution will be 38,000,000, and the reserve fund 32,000,000. The Increase of the capital of the bank after consolida tion will amount to 32,000,000 E. A. Wyld, formerly assistant manager at Victoria. B. C, will be the manager of the branch in this city. The Canadian Bank of Commerce is one of the soundest financial institutions on this continent, and It is matter for congratulation amongst the people of Portland that such a-prominent bank will maintain an office In this City. The last statement Issued by the Cana- a j dian Bank of Commerce, Msy 2L 1899, is as follows: Resources. Cash and bank balances 3 2,973,238 Government and other debentures 6,508,631 Call loans on stocks and bonds".. 3,i89,24S Deposit with Dominion Govern ment for security of note" cir culation 169,952 Due from agencies and banks in United States 334,861 Total 316,616.150 Current loans $a,33-j,-JU. Overdue debts (los3 fully pro- vided for) 133234 Bank- premises 797,705 Gold bullion in transit 385,824 Real estate, mortgages and other assets 3461822 Total 333,682,786 Liabilities. Circulation 1 3.368,420 Deposits 27,726 364 Due banks In Great Britain 1,2SG,163 Due other banks- or agencies 35,973 Total $32,415,919 Capital paid up 36.000.000 Rest 1,000,000 Undivided profits 266,867 7,266,867 Total J39.6S2.7SS The purchase of the Bank of British Co lumbia by the Canadian Bank of Com merce 13 stated to have been entirely a move in the way of expansion, thus ex plained at the meeting at which the sale was consummated, by Robert Kilgour, one of the principal stockholders of the latter bank. "I think we are all agreed that the progress which the country will make in the next 10 or 15 years will be largely In the West; the conditions at least seem to indicate this This being the case, the desirability of this bank having branches at the important points In British Colum bia and on the Pacific Coast is evident. By taking over the branches of the Bank of British Columbia we shall have branches in all of the Important cities and towns out there, 'and be, in a position to take advantage of tbe extending trade with China and the East,' which we have every reason to expect." COLLEGE OF MEDICINE. Medical Department of the Univer sity of Oregon. The College of Medicine of the Uni versity of Oregon, while virtually at Eu- Medical Department of the Univer ity of Oreson, Portland. gene, the university seat. Is practically I carried on at the city of Portland, be cause of the obvious advantages to be found In a metropolis for the successful prosecution of medical studies. This department, which was established ;n JS7, in 1595 became a graded school, occupying the advanced rank of those requiring from their students, as a con dition, of graduation, attendance upon four full courses of lectures in a regular medical college. The result of this ad vance, as shown in its work, under this four-courses aystem, has proven eminent ly satisfactory. The requirements of this school for both matriculation and graduation are In strict, accordance with those laid down by the Association of American Medi cal Colleges, of which It is a member. Men and women are admitted on equal term. Clinic are held regularly and frequently at the Good Samaritan and St. Vincent's hospitals, and material Is abundant. The 13th annual session began October 2, 1899. There are enrolled for the pres ent session 13 freshman 24 sophomores, 13 juniors,. 12 seniors and 5 special elec tive. The alumni number 113. Partic ulars of the medical department may be obtained by addressing' the dean. Dr. S. E. Joseph!, 610 Dekum Building, Portland. Or. P. J..CR0NINC0. Wholesale and retail saddlery and har ness establishment, at 115 Front street," carries a complete line ox una gooas Their success may be traced to good ma terial and labor, by which the business has stretched to all parts of the North west territory; also to the Orient. All correspondence receives careful attention. Pnclclaje Fralf for Europe. Recently the Oregon Horticultural Com mission received a letter from Bordeaux, France, In regard to evaporated priuaes,, showing that there Is not only an Increaa-j Ing market, but aiso that Oregon fruits are becoming favorably known, and that the trade Is reaching out for them. Amer ican Consuls- say there is a good market for Oregon fruits, and place tbe apples, either fresh or evaporated, first on the list. Attention is called to the packing of all fruits, and the point Is empha sized that only goods packed honestly ana in a merchantable manner will command high figures, and evaporated goods should be packed In small, neat boxes. , FLEISCHNER, MAYER & CO. GREAT WHOLESALE DRY GOODS HOUSE OF PORTLAND. Established in 1804 A Dlatrlbnttas and an Industrial Enterprise of Larse Proportions. Portland's commercial supremacy has, to a great extent been established through the methods of Its representative business houses. Their tarslghted, pro gressive policy has supplemented the nat ural advantages of location and territory already existing. There Is no house that has been more closely associated with the growth ot Portland man that of Fleischner, Mayer & Co , jobbing dealers In dry goods" and kindred lines, and manufacturers Of lead ing staple lines of wearing apparel. The bouse was established in '64, by the late Colonel L. Fleischner,. Mr. Soloman Hlrsch and the late Alex SchtusseL rao personnel of the firm at present is Uol Hlrsch, Sam Simon. L N. lttelschner, M. Fleischner, M. A Mayer. Realizing tbe advantage of manufactur ing as an allied line, as distinct from tho business of a mar distributing house, the management of Fleischner, Mayer & Co., some three years ago, added a fac tory to their general establishment. This today is one of the largest and best appointed factories on the Pacific Coast. It furnishes steady employment to an av erage of 300 hands throughout the year. The firm hopes to Increase this force to SCO during the coming year. The factory is devoted exclusively to the manufacture of the celebrated "King and "Thorough brace" overalls, and to the famous "Mount Hood" shirts, sold to tho trade only by this house. These goods find a ready market in all parts ot the Pacina Northwest. The factory proper Is equipped with every facility for the expedl-i tlous and economical manufacture of the lines handled. It possesses the best mod ern machinery, and the firm, with com mendable spirit, has given special atten tion to appointments which contribute most to the comfort of the employes, in addition to the heavy lines of dry goods) and men's furnishing goods carried by tho firm, it markets the products of two of the largest woolen mills of the state. An extensive demand for these goods is found throughout the East and Middle West, and In the Immediate home mar kets. Fleischner. Mayer & Co. are today among the heaviest Importers on the Pa cific Coast. Each succeeding year baa shown an increase over the preceding year in the business handled, and In 1901 the indications are that all past records will bo eclipsed. ALBERT VON DER WERTH. The tea. coffee, spice and produce busi ness of Albert von der Werth, 264 Alder street, has. within a few years, grown to large proportions. Hlgn quality of goods Albert Ton der "Werth, Butter and Tea, 04 Alder St.. Portland. bandied, and facilities for promptly filling large orders, have enabled him to build up an Immense wholesale and retail busi ness In and out of the city. Tyler Woodward, Pros. Jacob Kamm. Vlce-Pras. F. C. Miller. Cashltr. A. M. "Wrifht. Awt CuM. THE UNITED STATES NA TIONAL BANK, OF PORT LAND, ISSUES DRAFTS ON THE PRINCIPAL CITIES; OF THE UNITED STATES, EUROPE AND THE ORIENT. FURNISHES ITS CUSTOM ERS WITH CIRCULAR LET-. TERS OF CREDIT, AVAIL ABLE EVERYWHERE. WANTS BUSINESS BASED UPON SUBSTANTIAL AS SETS, AND PROMISES PROMPT PERSONAL AT TENTION TO THE NEEDS AND REQUIREMENTS OF EVERY ACCOUNT. PAYS If INTEREST ON DEPOSITS. DIRECTORS Jacob Kamm, Chat. Herein, Beaton Klllin, E. A Klar. R.X. ifacleay. f Rofus Mallory, Tyler "Woodward, D.W.Wakefield, F. C. ilttier. Y??fe-Sifi3 &&I9i? ESslnM' ihi ftSJIISsrsf fiij&i&fcH2i k-S2kS'I ffKSaHEfC PPt3-l MTsfTLiij njCTSa JT&JmJr -iMHmlt