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