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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.
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