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About Morning Oregonian. (Portland, Or.) 1861-1937 | View Entire Issue (Jan. 1, 1902)
42 THE MORNING OBEGONTAN, WEDNESDAY, 'JANUAHY' ' IV 1902.- Mj&N 3he3 Mi-hinmrJT B SKi yjp T& , . Tiej?arfmtfG?)oMJ2 opoerlAfiD . S 8TWA ' HS-jVcs5 '"'ii nFSTiVrrJ nrilPW 1 90 Tp TOTAL CLEARANCES Km r Jo "x3j oixi SrflHcSSjrf&is As dL : to ; - . - -y7m n n n$ly i - fl SMf Jil&r iPK.rTKHn&aim is m Wmm&M Era MmmmmwmsMar rv r -wmm m MD-v3-a?S?5SS:ayftfl rwi ' v Mi Sxi MS lpySgBL ctS; - jJllLr 1 9K HKc.y.3 :::? I., - V SiSaairt-c? I w I if I I TtrT I rf i IBf Bff itrW i a i fir W mKWimmt&lmml is SfffiKi CiRTwrfGS K2!eijSBBii 1M I TRUST SriKl. fefer"7" -,TI5i .. 'J? -xiT -'-si rT -n l'w main r" " " -sd(S P?iSR---" .SBIBBIB99BSIN2mVrSfliiii J 93t ESI M J900 ToTaL clearances mmmmmyimmmm If f .7s ; ife' :! Mf wWf ill -Tj kSLav ' 1 fire. w? fl s S 3& fi'K I w i ' X 9s rtli5iLL i 2lErl 111 Jis! !!I8Is SEKSfNfS'sAFrr vJlfiSjUi7Eami'B 33k V- v - a1; AAD I I I m m y 52Ti3 , M.l.'J-'JM.,jlSJX.I.WH.Ufc xa& . ,,-,-'.-.v1Mn..-ffl in ,1-'';i" ..'-.J JJ-i... , L.-rm i,j i yr; - . -siNv - . ,v .tf;3 " W. k. V 3 - i ft ? I f g I v Am W x. .YiM 1 Tt lilt ft jv? ymiW: Mil H 8-vti ? Ss. -rsr SI w v liii V w il tl II ltHJUUA lt. " "" "" 1 ! U A.riTrssrr Hi' M UT " 3iZ3Tir S! ERCHATVDLOiAle , 3SEEIE j..';.l.i.J.'.JJ..j,. zozscazazz T was remarked 137 a gentleman -who I had traveled over the greater part or the globe, and whose experience fitted 'Mm to fce able to Judge of such mat tters, that Nature had done more for Port land, Or., than for any other city In the whole -world. "By that," said he, "I mean that Portland has more natural advan tages than any city its climate, scenery, 'water, position relative to the natural sources of trade and commerce, the rich ness of the territory of which It is tne natural center, and in all that goes to make up a metropolis of the section or country in -whoso heart it is so beautifully located." This man's view was, in my opinion, founded on facts, and it is logical to suppose that a city possessing such ad ;vantages should naturally be the financial center of the Northwest Such, I main tain, it is today, and with the Immense start it now has, it is likely to remain the queen of finance, as well as of trade, lor the vast region drained by the mighty Columbia and its tributaries. A man's financial strength is never as certained until tried by a period of de pression in business, when capital shrinks away from all enterprises, and money is put into stockings and safe-deposit vaults. Bo it is with a city. To illustrate I will call attention to the financial strength displayed by Pdrtland during the panic or 2S93. Of course, there were failures of banks in Portland during that trying tiine. tout the banks which kept their doors opten also prevented the closing of the banks in our elster cities. Seattle, the next largest city of the Northwest, prides itself that there were few bank failures there in 1S93, and perhaps it will bo Interesting to your readers to know the true inwardness or Seattle's good luck at that time. Two or its largest banks were owned by Port land bankers, and these banks, as well as others there, were kept open by Immense shipments of coin from Portland banks. "What applied to Seattle applied to many other cities in the interior. It was Port land's money and the strength of Port land's financiers that saved this whole section from utter ruin. I do not men tion this in a boastful spirit, but merely to prove my assertion that Portland Is the financial center of the great Northwest. Clearing-house exchanges are not necessar ily conclusive, particularly when such ex changes are stuffed or padded by adding "balances from day to day, thus doubling up amounts. It is a mere juggling with figures. If the ramificatibns of all the transactions of the banks of Portland could be printed they would show how ex tensive are the dealings, and Portland's unrivaled financial position would be shown. People who are unfamiliar with trade do not understand how many of the large shipping and wholesale houses of Port land do business through branch houses li .1 !-rr.-i;;li,H,-.wr.'.-. &1 . t .,, f .. .-.. -. -f.lrj e jiUNlTED 2'EEf 6c T3LTQM rL,yf 5WORTH KATIQNAL "I'll III! I tflil-'"'""' I Til Mil', and agents throughout the Northwest. Tho financial and business head is, how ever, in Portland. I have recently heard it predicted by some of the great finan ciers in the East that within 50 years the commerce of the Pacific would equal that of the Atlantic Ocean; that the growth ot our trade in the Orient would astonish everybody, and that the growth of this grand section would be unparalleled in the history of tho world. If these men are true prophets, what a grand future is be fore us! Let us hope it may all come about. I am confident of one thing: that Portland will in the future, as it has in the past, be the financial center of the Northwest. J. FRANK WATSON, President Merchants National Bank. Portland Bank Clearings. January ... February . March April May June July August .... September October ... November December . Total .... 1900. : 7.847,249 45 7.121.14S 79 8.00S.443 51 7.753.709 5S 8.125,376 49 8.344,659 40 S,E55,S6G SI 7,674.155 95 9.822,717 09 12.042.343 27 10.498.704 40 10,623,622 96 IDOL $ 9.636,304 56 7,355.665 78 8.705,345 73 9.030.717 04 8.8S9.810 78 8.933,250 01 9.106,465 59 9.401,043 CS 10.941.255 90 14.130.656 67 13.228.104 77 12,296.400 00 ....$106,918,027 4S $121,715,026 51 Estimated. VAST ACCUMULATION OF MOXEY. Portland the Distributing Point Financially for the .Nortlirrest. The following Interviews with some of tho representative bankera at Portland will do much to impress the world at large with the Importance of Portland, both 1 from a commercial and financial stand point. Portland does business almost wholly on its own capital. Portland challenges the world to show any city of 100,000 people anywhere that contains' within Its midst a bank that carries deposits in excess ot T6.000.000. Portland, with the aid of Its own capital, and with the support of the connections already formed by its banking houses, is insured at all times the control of suffi cient money to guarantee the success ot any business venture which the leading .financiers of the city may deem worthy of their special recognition, and of their individual support. jjfsl. t. 'vt y ?- - -' fA 'mr aLrr;inr 7 wrs.--: k w ssa22jT$3'j'Jit : siWlW.rnKW ? - A ?p JM fXt-ra1 imm tntTbBMi c. mWTiA, rtsia -I M rm I 1 JB h II fir 1 1 CrWlm'iMHffmmML. 1 n BKn fowls HM-Sf9nXLiusHri9 Snill wRIIlSiMr JkP iLiji. 'S-iSi iiiasJf II m fiWmWmm m vs. ii"i '" '"'''" mMMlKLSmWh I Illli i iHSSriLADD 'I'UBI 7 77 S yX' . 11 a U '37VMW , - BMil:w3Btii3fifflBCTBMB clal center. The Improvement of the Up per Columbia will greatly Increase this and facilitate the expeditious handling of those products. "With the general prosperity of the coun try, and more particularly of the North west, Portland cannot help but grow. I believe that the prosperous year for bank ing which Is now drawing to a close will be repeated during the next few years. I in I i ii i inn Ivy AxVWa ?& Hon. H. W. Cbrbett, president First Na tional Bank Portland should be, and nax urally is, the banking center of the North west, situated as it is between California on the south and "Washington on the north. Like the Columbia River and Its tributaries, the. interior country's financial flow is naturally to Portland. It has al ways been a distributing point in a finan cial way to all the Interior country. Port land having been made a reserve city un der the National banking act. It is thfe most convenient and accessible point for the distribution of money, and the most convenient point to draw -upon in order to get quick returns. During the past 12 months there has been a large accumulation of money in the Interior, and a large increase of de posits in Portland. The general degree or prosperity throughout the country is more marked than I have ever known it, and the prospects are very promising for the future. This prosperity will probably con- .,. T.. tTn''- l?l"" EC AM 1 Ml. , . I I IL, , , yWSC'.g t CO. w ri ' in mil. V tinue to increase for many years through out the Northwest, and no place is likely to reap greater advantages as a financial center than Portland. Charles E. Ladd, of Ladd & Tilton During the year 1S01 there have been no violent fluctuations In commercial or financial circles In Portland; in fact, the year has not been marked by any finan cial events of unusual character. This section of the country nas been extraor dinarily prosperous, and its banks have both reaped the benefit of and assisted In promoting this condition of affairs. They have enjoyed to the utmost the confidence of their patrons and the community at large, and confidence Is the foundation stono upon which the banking business rests. Geographically, Portland's situation Is strong, but no city can obtain the full benefit of "a strategic location unless It has citizens of strong enough Intellect to fortify and maintain Its position with all the capital It can command. One Import ant factor in the accomplishment of this result is the judicious utilization of its "banking power" which is the aggre gate sum of the capital, surplus and de posits of its banking institutions. The banking power of Portland Is be tween .XXMW0 and 525,000,000, and these financial resources have been intelligently used by the banking Institutions of tne city to foster local industries, to strength en Portland's commercial importance, and to co-operate with its other business in terests in augmenting the productiveness of a large extent of country which Is de pendent upon and contributes to Portland as its financial center. Ralph W. Hoyt, cashier Merchants Na tional Bank During my banking experi ences of nearly 19 years I noticed that Portland first showed Its banking strength in 1SS3, when it tided over the crash in transcontinental stocks. The next time it showed its strength was in 1S93, when the Portland, banks very materially as sisted and sustained the banks of this and neighboring states. The water grade of the Great Columbia Basin naturally brings the products of the country to Portland. Their shipment from here naturally brings the money here, thus, making Portland a great finan- Benjamin I. Cohen, president Portland Trust Company of Oregon The best in dications I notice are that Portland banks aie getting nearer to Eastern methods. Paper is scrutinized more closely and tho result Is a tendency to reduce rates of interest, which In turn will benefit tho mercantile community. Banks, however, will also be benefited, because although the rate of Interest will be lower, activity will be greater and more loans will bo made and fewer losses will be incurred. I look for the steadiest possible growth. Our trade with the Orient Is, only in its infancy, and yet even today It is being hampered for lack of freight room on ' steamers. As a banking center Portland will keep pace with thl3 trade. R. li. Barnes, cashier "Wells, Fargo & Co.'3 Bank The subscription starting point of the 1905 fair is a date to be remembered a date on which Portland emerged from a village to a city. There Is no doubt about the future of Portland. Its root3 are as- deeply set as are those of San Francisco, and it Is only a ques tion of nourishment by its citizens. It Is the first time In my experience that I have known Portland to be a unit on one particular public enterprise. In comparison with the other cities on the Coast, the soundness of its banking cannot be questioned. Portland has a reputation for conservatism which is very essential to good banking. Frank C. Miller, cashier United States National Bank Deposits were never so large as at present, with the prospects of a still greater Increase. In my opinion all departments of business will feel the Infusion of now money and new men dur ing the next three years, to the extent of developing more extended and better channels for the use of bank funds. Port land's unity as to the Lewis and Clark Fair and prompt and generous response to meet Its requirements will be atelling factor in the future development "of the city and state. Oregon has been en dowed as has been no other state in the Union, and the development of her re sources Is at hand, and Portland banks were never In better trim to furnish the necessary legitimate assistance looking to that end. "We can have splendid growth and be generous and with It all maintain our reputation for conservatism and pru dence. Bankers, who are always vitally Inter ested In the welfare of a community, can testify that at no time in the history of this city has a better feeling prevailed among merchants and shippers than dur ing 190L. Personally I make dally inquiry of some of our patrons as to the status of their affairs, and receive uniformly cheerful replies. The possible complaint that might be entertained by our Portland bankers is the lack of demand for commercial loans, which' does not reflect lack of business on the part of the merchants and dealers, but on the contrary, prompt and libera) returns on account of goods sold. E. A. "Wyld, manager Canadian Bank o i
