Morning Oregonian., November 21, 1908, Page 12, Image 12

NEW BANKING LI
IN EFFECT
S ON
Statute Passed by Legislature
of 1907 Becomes Opera
tive Next Wednesday.
INSPECTION PROVIDED FOR
Examiner to Make Intej-ligatlon at
I.eaM Once Yearlv Various Safe
guard for Depositor!.- Money.
Amendments Are Proposed.
FEATI RES OF OKMiON BANKINO
LAW.
Limits to:al liability t. any bank by
jLT.y perjTi or rorrfrntl-Ti to " per
ent of acrpR-ale raid-In capital and
surplus of bar.k nMkir.a loan.
Requires publication of detailed
statements the Fame a are now pub
lished by National bank.
Regulates amount of rapital ftfxk
of banka In VllnK to population of
city in ahloh they a-e locate-l.
Re.ulr- lank. In titles of less than
fVMio f..uiatin to carry available
eaerh nMTvf of l." er cent of their
demand llahllitifa anl H per cent of
their time deix-slts: in cities of .V'.iwfl
population and more banka mu'l carry
rash reserves amounting to ' per cent
of their demand liabilities and lO per
cent of time dopoeit: at lea.-l one-third
of these reserve pereentaK'-e ahall con
plat of actual cah on hand.
ITovld. for lnie.-t.n of every" bank
by State Bank Kxamlner at least once
annually. For thle ex-tnrination banka
pay a fee of. frwn to -."". acrord
Ing to the amount of their capitalization.
Oregon's slHte hanking law. enacted nt
the 1I7 session of the legislature. he
roines operative In every particular next
Wednesilny. November IS. National banks
ire nut included in the application of this
statute, which is .losiKned letter to reinit
iate tlw bankitiK luisincss conducted by
private corporations by thrnivinr nrotind
tt fe(tuard whi. li make for tlie protec
tion of the depositor. Tlie purpose of the
law In its present form will he further
promoted, it is r-porKd. by several im
portant amendments hlch will In- pro
posed during the cominic session of the
llfUslature.
Besides limiting the amount of liability
iny person or corporation may Incur at a
hank, requiring- hanks reKiilarly to pub
lish detailed statements of their condition,
regulating the amount for which banks
may he capitalized, and n 'quiring an
available rash reserve to le. kept on
hand at all times, tills statute provides
for a State Hank Kxamlner who snail
make a detailed examination of every
banklnK institution in the slate at least
once a year. This ofilrer. James Steel,
alreadv has assumed the duties of his
Ofnce. having hern appointed by the Hoard
of Bank t'.mimissiorirrs. created by the
act. and consisting of the Coventor. Sec
retary of State and State. Treasurer.
Hanks Made Subject to Kxaminnlion
Cnder the provisions of this Ian all
private banks were requind not li'.ter
than August 1".. last, or 12 months after
that feature of the law went Into effect,
to file with tfie Hank Examiner a de
tailed statement of their resources and
liabilities. Subsequent to next Wednes-
-V. or 1 l ninths following the passage
. be law. ell mieli banks become suli
examlnation at tlw hands of the
Baiu aaminer and to all of the penal
ties prescriUd In tile law. Banks ami
banklt g Institutions within the meaning
of the law are denned in section i as fol
lows: Any person, firm or corporation (except
allonal hanko havlni; a I.iee of business
within this Mate here credits are opened
bv the d.-D..it or .-.He. Hon of money or
turremv or n. ctiai le pai. r subject to he
pld or rmtt:-.l upon dm:, reco.pt. enecK.
e. order, shall !.e regarded a a tank or
bunker, and as doing a l..inkin business
under the provudons of this act.
It Is provide.! that no banking Insti
tution shall have less than three di
rectors, while those that may be orean
ixed after the law goes Into effect
shall file with the State Hank Ex
aminer a certified copy of Its articles
of Incorporation before beginning busi
ness. The capital stock for winch
banks shall be ncorporat ed is fixed
according to the populatiot if the city
In which the proposed .-. S..K shall be
located. In cities of lul population or
less the capital stock shall be $10,000:
in cities of 2!MMi population. $-'". ooo: be
tween jrtoit and Soon. $3n.ioo: over 50o.
$r,0.ooo. In all cases o per cent of
Die capital st.Hk must be paid in be
fore the bank can begin business and
the remaining tine-half of the capital
slock must be paid in the following six
mi.nl lis.
Provision Is made for the sale ! the
directors of a bank i the stock of
a delinquent stockholder after ten days'
notice of the proposed sale has hern
published in a newspaper in the county
seat. If no bidder appears at the sale
the stock reverts to the bank and if
not sold by the directors subsequently
and within a year it shall be canceled
and held as unissued capital stock of
the bank. If it Is sold before cancela
tion, any surplus, less the costs, shall
be returned to the original stockholder.
If the cancelation of such stock re
duces the paid capital of the bank be
low the minimum required by law.
the paid capital shall, within 30 days,
be Increased to the required amount
by ordinal subscription. failure to
romp!;, with this provision of the law
will be held to be sufficient cause for
closing the bank and arranging for a
distribution of Its assets.
When the Hank Kxamlner is satisfied
that .V per cent of the capital stock of a
ne-wly organized bank has been paid in.
lie shall issue a certificate within 30
days certifying to that fact and authoril
Ing the bank to do business. These banks,
however, are I'-einrcd to bo examined by
the Hank Kx. .inner within three months
following the.r o: i;aniz.Lllon.
Stock I Personal Property.
I'n.ler trie law s'i;tres of st.x-k In in
corporated banks wili be considered per
sonal properly and may be transferred
on the tHH.ks of the iMiik as directed by
Its by-laws and as required by law. Banks
are prohibited from squiring as collat
eral or bv purchase its own capital stock
except where either pnieedure is neces
surv to prevent loss upon a debt prev
iously contracted In g.xl faith. In such
cases, unless full pavnwnt of such debt
Is made, the stock shall be sold by the
bank within 11' months after It is ac
quired. Kvery bank also must keep a
complete record of ti e holders of the
shar of stock together with their ad
dresses. Banks will be permitted to hold and
convey real estate for the following pur
roses and no others:
pHt Such re-il eststs as shad be neets--y
In wti'ori t" transact the husinr of
n'v nuch l.jnk. Ineludinc "' " l'''l""
c&.taa. other iiiuiasa in iif LuUdiiul
to rent as a source of income, but which
shaTl not exceed in cost to said bank R'l per
rent of lt paid-in capital, surplus and un
divided profits.
Second Such real estate as shall be pur
chased by or conveyed to such bank In
satisfaction of or on account of debts pre
viously contracted in the coarse of Its busi
ness. Third Such real estate as it sha.l pur
chase at sale under Judgments, decrees w
mortgage foreclosure under securities held
by it. Anr real estate heretofore c0u''Ta
for any purpose than sa specified in subdi
vision 1 of this section in any manner or
form snail be sold wltialn five years from
the time this act takes effect, and any real
estate acquired as provided In said suodi
visions 2 and S after this act goes into ef
fect, shall be sold witnin Ave years after
title thereto Is acquired. If any such real
estate la not sold w.thln the time herein
limited, it shall not tnereafter be carried as
an awl or the bank. This section shall not
apply to real estate purchased wilh tunas
other than the capital and resources of such
banking business, nor to real estate held in
trust.
Director Must Own $3000 Stock.
Every director in a bank must own
at least J.'.o-'.o of unincumbered stock in
the Institution. Every three months
a majority of the members of the board
of directors Is required to meet and
make an investigation of the bank's
affairs, examine and inquire into all
loans and the security deposited with
the bank therefor.
In declaring dividends it is re
quired that not le?s than one-tenth of
the net profits shall be carried as
surplus until the surplus amounts to
SO ocr cent of the paid capital. Against
this surplus no charge shall be made
until the surplus amounts to 20 per
cent of the paid capital, except when
the undivided profits are lasuff icient
to cover losses. "
A fine of $1000 and Imnrisonment not
to exceed two years in the penitentiary
are the penalties provided for any offi
cers or owner of a bank who accepts
deposits when he knows that the bank
is insolvent. The owner, officer, qlerk
or employe of a bank is liable to a
fine of $10.10 if he certifies to a check
unless the amount of the check actu
ally stands to the credit of the drawer
on the books of the bank.
Section 20 limits the indebtedness
any person, firm or corporation may
assume at a bank. It provides as fol
lows: The total liability to any hank of any
person or of any company, corporation or
firm, for money loaned, including the lia
bilities of the company or firm, the liabili
ties of the severa.1 members thereof, shall
at no time exceed sr. per cent of the aggre
gate paid-in capllal and surplus of such
bank: but the discount of bills of exchange
iliann in good faith against actual exist
ing values, and the discount of commercial
or business pajer actually owned hy the
persons negotiating the same and loans made
on or secured by real estate or personal
property, warehouse receipts and bills o
lading representing actual value shall not
be restricied to or considered as coming
wtlhln said limitation of per cent: pro
vided, that such a loan shall not exceed 75
per cent of the actual value of said com
mercial or business paper, warehouse re
ceipts, or personal property, and that such
loans shall not exceed .'.o per cent of the
actual value of any real estate given as
security for such loans.
l'.orrouins by Employes Restricted.
The officers, owners and employes of a
bank. State Bank Kxamlner and his em
ployes under the law are not permitted
to borrow any money, secured or other
wise, from any bank without the approval
of a majority! of the hoard of directors.
Any ot'licer or employe of a hank making
such an unauthorized loan shall be held
personally responsible to the bank for
any loss to stockholders that might re
suit. Every bank included in the provisions
of the law in cities of less than oO.otW in
habitants comprising alk state banks in
the state outside of Portland are re
quired to have on hand in actual cash or
balances due from solvpnt banks, to be
appioved by the State Bunk Examiner,
not less than 15 per cent of their demand
liabilities and 10 per ct nt of t'.ielr time
deposits. Stale banks in Portland must
carry available cash reserves of not less
than 25 per cent of their demand liabili
ties and 10 per cent of their time de
posits. One-third of these reserve per
ccntages must consist of actual cash.
All state banks will be required to
publish sworn detailed statements as to
their financial condition in tlie same
manner and at the same time as Na
tional banks now do. Failure to make
these reports at tlie prescribed time sub
jects the delinquent bank to a daily lino
of ". The State Bank JOxaminer also is
required to submit an annual report to
the Boand of Bank Commissioners In
which he will show generally the condi
tion of the banking business of the state,
together with a statement of the work of
his office, including all receipts and dis
bursements. At least 240 of these reports
are to be printed in pamphlet form for
distribution.
Each bank shall be examined by the
Bank Kxamlner at least once annually
and for this examination each institution
shall pay a fee ranging from $20 to $250,
according to the amount of Us capitaliza
tion. The law contains a provision which
says that a bank shall be liable to the
payment of only one fee each year, re
gardless of the number of times It may
be examined.
In making these examinations .the
Bank Examiner Is empowered to ad
minister an oath to the officers and em
ployes of the banks In his efforts to
ascertain the true condition of the In
stitution. Any officer or employe con
nected with- tiie bank under examina
tion who shall swear falsely during
such a n examination will be subject to
a line of $1000 and imprisonment not
less than six months In the County Jail.
If an examination discloses the insolv
ent condition of any hank, or that its
capital Is Impaired or Its condition Is
such as to render a farther continua
tion of lis business hazardous to its
creditors, depositors or the public, the
l!ank Examiner may take Immediate
possession of the bank.
Herniation rfectins Examiner.
Banks and bankers have the right
under the law to prefer charges against
the Bank Examiner for any violation of
tlie provisions of the law respecting hla
duties of touching on his fitness and his
qualifications for the office. .All such
charges f hall be heard before the Board
of Bunk Commissioners.
Tlie Bank Examiner is also required
to report to the Board the names of all
depositors In state banks not known to
be living, and whose accounts have not
been disturbed for a period of seven
years. The Kxamlner also Is obliged
to make public the list of such depos
itors in such manner as the Board may
prescribe.
In event of the failure of any of the
banks covered by the law. section 38
provides for tlie protection of the de
positors as follows: '
In the event of the insolvency or bank
ruptcy of any person, firm or corporation,
maintaining, operating or conducting a
bank or banking department, or doing busi
ness within the meaning of this act, deposi
tors of such bank or banking department
shall have a first and prior lien on all the
assets of such bank or banking department,
and in the distribution of such assets or the
proceeds thereof, the same shall first be
applied to satisry the amount due such de
positors: and If any person, firm or cor
poration maintains, operates or conducts
one or more brandies or subordinate banks,
or more than one bank or banking depart
ment, or does a banking business within the
meanlnr of this act at more than one place
Ibe depositors of any such bank or subordi
nate bank or banking department shall have
a. first and prior lien upon all the assets of
such bank, branch or subordinate bank or
banking department where such deposit
was made or credit extended, and in the
distribution of such assets, or the proceeds
thereof, the same shall first be applied to
satisfy the amount due such depositors.
The bill enacting the state banking
law and providing for a Slate Bank Ex
omioer carried an appropriation of
$10,000 annually for the salary of the j
Examiner and ins expenses . ... o...te.
The Bank Examiner receives an annual
salary of $:i000 and traveling expenses.
Charter Commission Adjourns.
Owing to lack of a quorum, the Charter
Revision Commission, which was to have
held a meeiirg last nislit, aiii"rna to
meet ajaiu nc.t, week.
PAVING WAR IS
GROWING BITTER
Personalities and Charges Are
Exchanged by Street Com
mittee cf Council,
STIRRED UP BY PETITION
Movement to I,ay Belgian Brocks In
Big North Portland District
Starts Storm That Hits
All Companies.
The street committee of the City Coun
cil, at its session yesterday afternoon, en
gaged In a war of words over "patent"
pavements. It started when a petition
for Belgian blocks for a big district in
North Portland, Introduced by Council
man Kellaher, came up for consideration,
and continued at intervals for two hours.'
Councilman Vaughn, the chairman:
Councilmen Concannon, DriSfOll and
Kellaher took active part. The net result
was that the Hassam Paving Company
made big gains in securing recognition:
the Warren Construction Company -was
lampooned bv Mr. Vaughn, and the penny
Clay Company, of Seattle, failed to re
ceive favorable corrsideration.
The whole affair revealed clearly the
struggle between rival paving concerns
to get business In Portland. The Warren
Construction Company and the Pacific
Bridge Company, who control the bitu-lithic-
the Barber Asphalt Paving Com
pany, which lavs asphalt, and the Hassam
Paving Company, which has the exclusive
right to lay hassam, are now actively
engaged In putting In street Improve
ments. The Hassam Company is Just
sta.-ting In here. The Denny Clay Com
pany a big Seattle concern, is now fight
ing for entrance. All of these companies
have their friends among the Council
men, and arl waging a strong batUe for
supremacy. It Is said the war bas only
begun.
Vaughn Favors Vitrified Brick.
Mr. Vaughn has recently been con
verted to the belief that the Denny
Clay vitrified brick Is admirable for
paving, having been over to Seattle
several times, with other Councilmen.
He It was who started the row yester
day. Mr. Kellaher was objecting to a
resolution by Mr. Annand. fixing the
brick as the material for a district
very much similar to the one created
by the Kellaher petition.
"Let the property-owners have Bel
gian blocks, as that material is not
patented." said Mr. Kellaher, support
ing the petition.
"Those blocks are controlled by the
authority of all authorities on pat
ents " replied Mr. Vaughn, heatedly.
"If you mean theWarren Construc
tion Company, it Is untrue." replied R.
M. Shannon, a representative of the
bltulithic concern.
"And I say that it is true, just the
same," retorted Mr. Vaughn.
"I say It is not true." spoke up Mr.
Drlscoll. "and I think It Is unmanly for
the chairman to bring in these personal
matters. I don't think the committee
cares to hear 1C"
Does Xol Own Quarry.
"I say that there is no truth in Mr.
Vaughn's statement that the Warren
Construction Company owns stock in
the St. Helens quarry, where the Bel
gian blocks come from," said Mr. Con
cannon, the Democratic colleague of
Chairman Vaughn.
"I am not surprised to hear Mr. Con
cannon and Mr. Drlscoll defending the
bltulithic trust," sarcastically replied
Mr. Vaughn. "I know where they
stand. But I repeat now that the War
ren Construction Company does own a
controlling interest in the St. Helens
quarry, and I defy Mr. Shannon, Mr.
Hoyt or anybody else to bring in affi
davits to show that the bltulithic
trust does not so control the quarry,
from which the Belgian blocks are
taken."
"Your statement Is absolutely un
true." replied Mr. Shannon.
There was great uproar during this
heated discussion, which caused Dr.
Cottel to remark that the street com
mittee is getting nearly as riotous as
the liquor license committee.
Refer Matter to Kavanaugh.
The committee Anally voted to refer
both the B"lgian block and the Denny
clay brick matters to the City Attorney,
and the members of the committee will
make a personal Inspection of tlie districts
named. Judge C. H. Carey, representing
the Portland & Seattle Railway Company,
and J. Couch Flanders, representing indi
vidual owners, explained that some of the
property named In the petition and the
resolution under consideration is far below
grade, and that any hard-surface Improve
ment could not safely be laid.
W. M. Davis, representing property
owners who wish Denny clay brick im
provement In the district, appeared before
the committee and explained how the pe
tition for Belgian blocks came to go be
fore the Council last Wednesday at the
same time as the resolution calling for
brick.
"Yes. Mr. Davis, tell the committee
about that." urged Mr. Vaughn.
"Well, after we had petitions for brick
circulating for about six weeks," said Mr.
Davis, "the petitions for Belgian blocks
appeared."
"Tes. and who circulated the petitions
for the blocks?" asked Mr. Vaughn.
Mr. Vaughn Again Sarcastic.
"Why, Howard Whiting," replied Mr.
Davis.
"Oh. yes. Howard Whiting." said Mr.
Vaughn with a sneer. "Lt's see; who is
he. anyway? Do I know him? What
does he look like?"
"He used to be building inspector,"
suggested some one.
"Oil, Indeed." replied Mr. Vaughn.
"Now. gentlemen, let me tell you a little
something which makes it look to the
casual observer that the Warren Con
struction Company controls the Belgian
blocks. This Mr. Whiting gets his mail
at the office of the Warren Construction
Company, and "
"He does not," interrupted Mr. Shan
non. "We've had enough of this personal
spite work." shouted Mr. Concannon.
" And occupies a part of the office of
the Warren Construction .Company fin
ished Mr. Vaughn.
That Is all untrue," said Mr. Shannon.
Hassam Petitions Called X'p.
Several petitions for hassam. in the Ir
lngton district, were called up by Clerk
Grutxe. Mr. Kellaher attacked this ma
terial as beine controlled by a. trust, and
said:
"It is just like the bitulithic trust: you
say others can bid on it. but you 'hold the
string, and make the dummy jump. The
string Is invisible, but It Is there, never
theless. It s the old cry the people have
to 'see' you. Just as they have had to
see' the bitullthlc trust."
"It is the most humiliating thing on
earth, gentlemen." said Mr. Vaughn, "to
be forced to vote to give Hie people any
ona ul these trust pavements, but we've
From the extremes of the
past the very short topcoat
and the too long ulster the
fashion this season has settled
on the medium length for the
best overcoats the 40-inch.
Here they are in infiinite
variety, in patterns and de
tails of cut in lapels, pockets,
cuffs, buttons, etc.
Prices from $10 to $30.
mm
CLOTHIERS
166-170 Third Street.
got to do It if we get any improved streets.
It Is a bad proposition right down the
line that we are up against."
The hassam petitions were favorably
recommended to the Council, which gives
that company much prestige In its fight
for a part of the paving business in
Portland. ,
MEYERS' CASE UP AGAIN
I'athor Insists Sons Shall Admit Ex
istence of Missing Xote.
. SALEM, Or.. Nov. 20. (Special.! An
other chapter in the famous Meyers
controversy was commenced today
when Joseph Meyers secured from Cir
cuit Judge George H. Brnett an order
citing his sons. H. W. and M. L. Meyers
to show cause why proceedings should
not be had to perpetute testimony as
to the existence and loss of a certain
note for ,38.600 given to Joseph Meyers
by the defendants In 1907. and matur
ing in 1917. This order was made upon
the allegation of Joseph Meyers that he
expects to bring suit sometime to col
lect the note and that since It was in
a box stolen from the Wells, Fargo
Express Company last August, he de
sires to establish the facts and make
them a matter of record while the wit
nesses are at band.
This is the first time a proceeding of
this kind has ever been brought in
Marlon County. S. T. Richardson ap
peared as attorney for Joseph Meyers.
The proceeding is, authorized by the
Btatutes of tlie state. The hearing
w ill be had November 30.
FUND MOVES TO $30,000
Eugene Y. M. C. A. Workers Confi
dent They Can Raise $50,000.
EUGENE. Or.. Xov. 20. Special.)
Today was the fourth day of the Y. M.
C. A. building campaign, and at noon
the indicator of the big clock was moved
up to J30.000. The subscriptions for the
most part were small ones, showing good
progress on the part of the workers.
Two subscriptions were given for J1500
each.
Tomorrow a great many people will
be in Portland for the football game, but
the work will be pushed nanJ here, so
that the full $50,000 may be raised dur
ing the next four days.
i s
SALEM PHYSICIAN SHOT
(Continued Prom First Page. )
citizens are declaring that every man
who has no honorable means of gaining
a livelihood shall be driven out of the
city. The murderous assault upon Frank
Guild in th Barnes store last Sunday
morning and other robberies that have
been committed recently, have resulted
In a strengthening of the police force,
and an effort will be made to drive out
the criminal element.
Shortly after 11 o'clock tonight Spe
cial Officer Walter Johnson arrested
a man whom he found hiding behind a
tree near the fair grounds and whom
the officer believes is the thug who
shot Dr. Robertson.
The suspect carried a .45-caliber re
volver, fully loaded, but which had re
cently been discharged. A black hand
kerchief around the man's neck was
tied in such a manner that it could
easily be slipped over the face.
The suspect was much agitated and
could give no clear account of his ac
tions during the evening or why he was
hiding behind the tree when the offi
cer arrested him. He gave the name
of Black at the police statloru
NEW LIFE
Found In Change to Right Food.
After one suffers from acid dyspep
sia, sour stomach, for months and then
finds the remedy 1s in getting the right
kind of food, It Is something to speak
out about.
A N. Y. lady and her young son had
such an experience and she wants
others to know how to get relief. She
writes:
"For about fifteen months my little
boy and myself had suffered with sour
stomach. We were unable to main
much of anything we ate.
"After suffering in this way for so
long I decided to consult a specialist
in stomach diseases. Instead of pre
scribing drugs, he put us both on
Grape-Nuts and we began to improve
Immediately.
"It was the key 'to a new life. I
found we had been eating too much
heavy food which we could not digest
In a few weeks after commencing
Grape-Xuts I was able to do my house
work. I wake In the morning with a
clear head and feci rested and have no
sour stomach. My boy sleeps well and
wakes with a laugh.
"We have regained our lost els'ht
and continue to eat Grape-Xuts for
both the morning and evening msals.
We are well and haspy and owe It to
Grape-Nuts." "There's a Reason."
Name given by Posttim Co., Battle
Creek. Mich. Read "The Road to
Wellvllle."'ln pkgs.
Ever read the above letter f A acw
one airpears from time to time. They
are genuine, true, and (nil of hums a
Interest
LOTS
$250
EACH
There AreSixBigRea
sons Why You Should
OWN A LOT IN
$10 DOWN
$10 EACH
MONTH
FAIRPOET
1
FAIRPORT
Ts t.iiA hast, addition ever offered for sale
nn trio "PeTifrtenln. t.Tlfl.t. llP.S directlv next
V XA VUV . jV Xe- A 4 s
to Swifts' townsite. Fairport will improve witn bwnts . Jiivery im
provement made in Swifts' is an improvement for Fairport, for the
two additions adjoin. Step over the line from Swifts' and you are in
FAIRPORT.
C A TDDADT Lots are being offered for sale at prices
IT J1.mTKJE. 1 far below what is being asked for lots in
additions that are not near Swifts'. Lots in Fairport will double and
triple in value in a few months. Live, active and desirable lots here
-at $250 $10 down.
C A ID OOT Lots are being sold at prices almost one
Jla.Sr JE. 1 half what is asked for lots in additions
that do not adjoin Swifts', and on far easier terms.
4
"C A TDDADT Lots will be convenient to the trolley
r -mfiJEx.Jr KJSx. 1 lines which are to run down Albina
avenue, directly through Fairport on Pippin street. And yet we ask
only $250 for lots on Pippin street. Where can you buy another lot
in Portla-nd on a trolley line with improvements? . J
V? A TDDlHlDT Is an addition that adjoins a great and
MT JlM.Mr KJSS. 1 growing commercial and industrial cen
ter. The Swifts are spending over $650,000 to improve their townsite
next to Fairport. e are improving Fairport to make it as desirable
as Swifts'.
IT A fDDADT L03 offer tne best inducement to the
Jl Ul 1 workingman, the man on small salary or
with a few dollars to spend each month and wants asure thin g ,
something that will net him a big profit in a short time. A Fairport
lot does not require a pile down. They sell at $250. $10 down and $10
a month.
A Trolley Line Will
wis
un loroug
Fairport
The City Council at a Special Meeting Thursday
Consented to Grant a Franchise to, the Electric
Company to Run a Line on the Peninsula. This
Line Will Run Dowh Albina Avenue Through
Fairport on Pippin Street. Here Is Your Oppor
tunity Then to Buy a Lot on a Trolley Line for
$250 $10 Down, $10 a Month
Are You Alive to Your
Opportunity?
Property here will show a steady increase in values from now on. Qet in
quickly, before the prices go up. And the man who buys a lot here quick
ly will live to sell it for double or triple what he paid for it. Does this
interest you? Then call on us and let us tell you a thousand more
reasons why you should own a lot in Fairport.
V,
Open. Sonday, 0 A. P
And will be glad to have you call at our office and we will take you out to
Fairport in our automobiles, which are always on hand. You do not have to
buy, but if this property is all we claim for it, you will want to own a lot here.
ikklesen &. Tucker
M:
General Agents
301-2 Corbett Bldg., Cor. Fifth and Morrison Streets