THE -MORNING OREGONIAN, TUESDAY; JANUARY 1. 1907. PORTLAND IS THE e UNITED STATES MERCHANTS NATIONAL BANK NATIONAL BANK Pre-Eminence of City in Pacific Northwest Is Un disputed. UNITED STATES DEPOSITORY FINANCIAL CENTER I Capital . . $ 500,000.00 Surplus . . 300,000.00 ' Deposits . . 7,000,000.00 PORTLAND, OREGON BANKS ARE ITS PRIDE Solidity and Conservative Manage ment Distinguish Them Pros perity of Community Reflected in Increase of Deposits. As the financial center of th Pacific Northwest. Portland's pre-eminence, la undisputed. . The position which New York sustains in Its financial relations to the disputed. The position which New York Eastern cities. Portland holds to the cit ies of the North Pacific Coast and Its title to that place Is becoming more firm ly established with each passing year. Portland la the richest city in the Pacific Northwest, and proportionately one of the richest In the world. The banks of Portland rank first among the financial institutions of this section of the coun try, and no year has shown a greater In crease In their deposits than the one Just closed. There are 18 banking institutions In Portland. Of these the National banks are the only ones which make public an nually the exact condition ot their finances. The most careful and conserva tive estimates, however, place the total deposits in Portland, banks today at 55.- 000,000, and many are or the opinion ma this estimate is too low. At the lowest' estimate, the- increase In bank deposits In this city during the past year has been 20 per cent. Moreover this advance, al though rapid, is not phenomenal for Port land, as each of the past three years has phown a like Increase. The heavy deposits In the Portland tanks and their steady growth are Indica tive ot the greatest prosperity In the city and surrounding country. There never 2ias been a time when such bountiful returns were being reaped by citizens of all classes, merchants, professional men, farmers and laborers. The business and the commerce of Portland and Oregon were never so large, and It is this fact that is reflected in the Immense volume oS the bank deposits. The great wealth of the Pacific North west In its manifold resources Is attested by the change which has come over the financial situation wlUiin the past de cade or so. When the panic of 1S93 swept over the country It found the Pacific Northwest in a disadvantageous position. The finances of the municipalities, of the various Institutions and of individuals showed a great balance of Indebtedness due t lie East. Oregon as well as her neighboring states had been drawing upon the capitalists of the East. The balance was altogether unfavorable to the Pacific Coast. More money had been needed here for development than was being received for the products of the section and to borrow this money muni cipalities, institutions and individuals had been compelled to go to Eastern banks and capitalists. Kast Now the lebtor. Now this has been changed. In a period of 13 years the tables have been complete ly turned. Instead of being a debtor of the East, the Pacific Northwest Is now a creditor. The balance of trade lias been In this Coast's favor and the prollts reaped from the $45,000,000 to JoO.OOO.'KX) worth of Oregon products sold each year, has fattened the local banks deposits. The East, once the lender, has become the borrower, and the surplus 'Western capital is now represented by Eastern securities. This favorable balance would be Ore gon's protection In case of another Na tional panic. If the improbable should happen and "hard times" come again. Instead of Oregon being oppressed by Eastern creditors, the borrowers of West ern money would be placed on the defen sive. The change in relative positions of the East and the Pacific Northwest gives emphasis to the prosperity of this sec tion of the country. The increase of money In the Pacific Northwest has been especially In evidence during the past eight years. The stability of Portland's financial In stitutions is too well known to require comment. By the adoption of every safe guard and through the wise discrimina tion in the making of loans, the local financial institutions have built up an enviable reputation, which extends far beyond state lines. No better evidence of their careful methods could be given than the manner in which they are con ducted at the present time, when de posits have reached unprecedented size. In times of large deposits and general prosperity there is always a tendency to ward reckless banking methods. Port land bankers have steered clear of this temptation and have continued the same care in placing their funds that would be observed during a period of greater ten sion. It is this reputaton for conserva tism which has placed them at .the head of the financial institutions of the Pa cific Northwest. That Portland has un doubted claim to this title Is shown by the fact that all other Oregon banks and banks of other nearby states, including some of the leading Institutions of Sea attle, keep their balances in Portland. Deposits Have Increased. A concrete Instance of the increase in deposits in the Portland banks Is shown by the following items taken at random from reports of the First National Bank during the past four years: June 9. 1903, deposits, $7,729,156; January 11, 1905, de posits, $8,975,02"; January 29, 1906, de posits. $11,567,322; November 12, 1906, de posits, $14,308,223. In the case of this bank, the deposits have nearly doubled In less than four years, and the same can be said for others In Portland. The total deposits In 1905 were J43.6S9. K3, as compared with $55,000,000 at the present time. The banks of the state as a whole, have shown an equally large Increase In deposits. Of the 141 banks outside of Portland, 104 reported the fol lowing Increase In deposits four months ago: September 1, 1905, J78.861.067; Sep tember 1, 1906. $96,387,924. an increase of $1.62.867, or 26.5 per cent. The great Increase in the clearings of Portland's' banks is an evidence of the prosperity of the city and state, fully as satisfactory as that of the deposits. Dur ing the past year the clearings amounted to J287.351.S78, the clearings for the last nine days in December being estimated In these figures. The clearings for the year 1905 were $228,402,712. There are but seven of Portland's 18-banklng Institutions included in the membership of the Clear ing House Association. The local clearing house pays Its bal ances .each day In cash or In clearing house certificates (or which actual cash has been deposited. This Is In marked contrast with the clearing house methods followed in many other cities. A plan largely followed in other cities is for , the manager of the clearing house, when the balances are determined, to give the creditor banks orders on the debtor banks for the money due. In many cases these orders are not collected until the follow- Issues Drafts and Letters of Credit available in all parts of the world. Accounts of Banks, Firms and Individuals solicited. Collections a specialty. The officers of this Bank will be pleased to meet or correspond with those who contemplate making a change of their banking connections or opening new accounts -75 THIRD STREET ing day, and the clearings are thereby greatly inflated, and the showing made used for advertising purposes. By the Portland plan each day's clearings stand' as a complete transaction. If the other method were adopted, the Portland clear ings would be increased from 30 to 45 per cent. Expansion in Clearings. The bank clearings "testify to the ac tivity in the local business world. This Is not confined to any special branch, but is to be seen both In the retail and jobbing trade. The clearings, have also been expanded by the heavy movement in Portland real estate. The demand for Portland real property has attracted out side money to Portland in great amounts, and each purchase has added its quota to the clearances from day to day. Proof of the stability of Portland's banks was shown at the time of the San Krancluco disaster. Although the heavy loss to property and business Interests In the Bay City stirred the entire financial market of the country, the depression in Portland was hardly noticeable in spfte of the proximity of this city to the cen ter of disturbance. There was, of course, an immediate tightening of the money market here, but conditions became nor mal again in a surprisingly short time. This Is the more notable when it is taken into consideration that. Portland contributed for the relief of the Cali fornia metropolis approximately $2 for every man, woman and rhild in the city the largest proportionate donation made by any city in the United States. "THE OAKS" NEW PARK (Continued From Page 21.) terest, and one which undoubtedly draws fresh interest as the tours are changed frequently, is the pictures of "Western American scenery. These are procured at a heavy expense by Fritz & Co., but patrons of the park cars like to see familiar scenes as well as those that are Imported. All. kinds of travel tours are displayed and so faithfully are all the details of reproducing a train journey carried out that it Is a very easy matter to forget that you really are not seeing the sights from the car window. The Skating Rink. , The Oaks built last year the largest skating rink on the Pacific Coast. The actual skating surface is 204x102 feet and 600 to 800 people on skates at one time do not seem to crowd or get In one an other's 'way. Throughout the season the rink was popular. The floor is the best ever constructed In this country and the skating mania of 15 years ago never saw equipment in floor, skates or other facilities like those provided at the park rink. At the end of the resort season the rink was drawing to capacity and it' was re-let to Messrs. Randall and Jones, two hustling young men, who under stand the skating rink business from A to Z, and who have been successful In catering to - the lovers of this form of sport. Continuing around the promenade that borders the park lawns, and passing the clubhouse building of the Oregon Yacht Club, which headquarters here, is, the Tavern on the river side. Here is found refreshments of all kinds with as varied menu for capricious appetites as can be had down town for the earns money; in fact, the absence of "Summer resort prices" ia the main factor in preserving the popularity of The Oaks. Overlooking the river, at this point, rides the pictur esque fleet of the Oregon Yacht Club, and from the broad, shaded verandas visitors may loll and eat and listen Xp the music. Next comes a dancing pavilion with a commodious floor space where hundreds of young men and girls nightly trip through the mazes of the waltz. The best orchestral music is engaged. The pavilion appeals to a select class of young people and every precaution Is taken in its rigid supervision. It is owing to the all-too-ready criticism frequently be stowed upon dancing pavilions that the most painstaking efforts are practiced to keep the resort free from improper char acters or conduct. The pavilion is one of the "cleanest" places of the kind that have ever been Jn the community and It continues to be run, and run rightly, be couse It is kept free from those things which have driven others out of exist ence, which Is due every time to a com bination of loss of patronage and public disapproval. Bathing Pavilion. The bathing pavilion la located on the .river walk. It baa a awimmlng pool about 100 feet in length. The cradle or Intake that encloses the pool Is graduated In depth, making it perfectly safe for the . ' ' " Inexperienced swimmers and the begin ners, who are taught lessons free of charge. The pool is filled with fresh water every two minutes. There are about 600 private dressing rooms in the three sec tions of the pavilion which form a court around the pool. Competent instructors are kept on duty to assist swimmers, teach lessons and to prevent accidents. Swimming classes are among the most popular diversions at the park. For the more daring swimmers, the broad cur rents of the river invite contests. Fully 60.000 electric lights make The Oaks park a place of transcendent glory. The illumination, viewed from the river, or from the adjoining hills, is superb. The contrasts of the suffused glowing clusters, with the water, the vivid green i.U.-.-t:l I Siv l 71 Fleiscliner, Mayer &Co. Mt. Hood Shirts and Overalls WHOLESALERS OF Dry Goods and PORTLAND, OREGON x MODERN UP iflrainniiiiiiimrainmiMi! ) OFFICE . IT WILL PAY YOU TO EXAMINE OUR COMPLETE LINE OP LOOSE LEAF LEDGERS, ACCOUNT BOOKS AND FILING DEVICES Before Placing your Order for the New Year. BUSINESS SYSTEMS DEVISED AND IN STALLED FOR ALL LINES OF BUSINESS PACIFIC STATIONERY & PRINTING CO. PHONE MAIN 921 205-207 SECOND STREET ESTABLISHED RELIABILITY OUR STOCK OF BLANK BOOKS, DIARIES and OFFICE SUPPLIES KILHAM STATIONERY AND'PRINTING CO. 246 WASHINGTON STREET ' .-..., t...!0 s WW" PORTLAND, OREGON of the great trees, the lawns and the flowers, make a rare setting for Vanity Fair. The management is glad that the people like to come and be a part of tne wondrous display. , D. C. FREEMAN, BUSINESS ITEMS. If Baby Is Cutting Teeth Be sure and use that old and well-tried rem edy, Mrs. WlnaloWs Soothing Syrup, for children teething. It soothes the child, softens the gums, allays all pain, cures wind coiio ana tuBrrnoai. To regulate the stomach, liver and bowels and promote digestion, take one of Carter's Little Liver Pills every night. Furnishing Goods TO THE TIMES SYSTEMS ) Salesman Will Gladly CalL FOR THE NEW YEAR IS THE MOST COMPLETE IN PORTLAND Issues Drafts and Letters of Credit available in all parts of the world. Accounts of Banks, Firms and Individuals solicited. Collections a specialty. The officers of this bank will be pleased to meet or correspond with those who contemplate making a change of their banking connections or opening new accounts. ThcCanadianBankof Commerce i Capital Paid Up Reserve . . . Undivided Profits A general banking and exchange business transacted. Drafts issued on any Branch. Transfers of money to or from any part of the world made by letter or telegram. Interest paid on time deposits. SAVINGS DEPARTMENT Accounts opened for sums of $10 and upwards, and interest allowed on minimum monthly balances. Portland Branch, Cor. J. THORBURN ROSS, President. JOHN E. AITCHISON, Secretary The Title Guarantee & ABSTRACTS TITLE INSURANCE MORTGAGE LOANS REAL ESTATE INVESTMENTS SAFE DEPOSIT VAULTS WM. M. LADD FRANK M. EQUITABLE SAVINGS AND LOAN ASSOCIATION Continue to offer the inveating public the aafeat mnd most remunerative investment (or monthly savings or lump sums Off Interest, Payable Semi-Annually, on In ' vestments of $100, or Multiples Thereof $100,000.00 RESERVE FUND Especially Guaranteeing Investors Against Loss Assets, Dec. 20, 1906, $2,087,872.00 ' Loans in. Force - $1,909,972.00 240-2 Stark Street UNITED STATES DEPOSITARY Capital - - - -Surplus and Profits Deposits - - - - $ 250,000 225,000 5,200,000 DIRECTORS J. FRANK WATSON President R. L. DURHAM Vice-President R. W. HOYT Cashier GEO. W. HOYT Assistant Cashier C. E. SMITH FRED S. MORRIS R. D, INMAN Head Office, Toronto, Ont., Canada 166 BRANCHES IN CANADA AND THE UNITED STATES 2d and Stark Sts. Trust Co 240-244 Washington St J?ecronneS Portland, Or. DIRECTORS J. THORBURN ROSS WARREN CMS. I. Ult. Pratldml THE!. I. WILCOX. Tic frildint DI. COOIIIBHAM, U lie. Prii f. McKERCHEI. Stcratify H. . JOmoi, Int. Iterator PORTLAND, OREGON $10,000,000.00 5,000,000.00 103,562.43 E. A. WYLD, Manager GEORGE H. HILL, Vice-President T. T. BURKHART, Treasurer. The Savings Bank of the TITLE GUARAN TEE & TRUST CO. Pays 4 per cent interest on savings (Interest com pounded twice yearly). Pays 4 per cent on cer tificates of deposit. Pays 3 per cent on daily bal ances of check accounts. T. T. BURKHART GEORGE H. HILL HAND SAPOLIO FOR TOILET AND BATH . Delicate enough for the eoftesi skin, and yet efficacious in removinj any stain. Keeps the skin In perfect condition. In the bath civet all th desirable after-effects of a Turkisb bath. It ahoiild be on every vaslh stand. 4Ll,jQRO.CB&&UXJWUSia