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About Morning Oregonian. (Portland, Or.) 1861-1937 | View Entire Issue (July 5, 1915)
TTTE 3IORXIXG OTTEGOXIAN. MONDAY, JTJTT 5, 1015. DIVIDENDS ROLL Hi IN COEUPi D'ALEHES Mining Companies Pay Out $1,106,408 in First Half of Current Year. STEWART PAYMENT LATEST Directors Anthorlze Extra Distribu tion of 3 0 Cents a Share on 1,238,362 Shares Others Add to Grand Total. SPOKANE, Wash., July 4. (Special.) Coeur d'AJene mining companies have begnn the second six months of the cur rent year wtih dividend declarations aggregating- 1.10G,408. this figure hav ing been reached when the Stewart Mining- Company directors, at a special meeting yesterday In New Tork, au thorized an extra payment of 30 cents a share on the outstanding capitaliza tion of 1.238,362 shares, according to information received here. This will make Stewart payments 1743,017 to date In 1915, and will Increase the grand total to $1,919,590. The Bunker 11111 Sc. Sullivan Company also announced the payment of Its regular monthly dividend or 25 cents a share on the Issued capitalization of 327,000 shares, or $81,750. making the payments for current year $572,250. In addition, the Interstate-Callahan Mining Company paid its regular quar terly dividend of 25 cents. The Caledonia Mining Company, cap italized for 2,605,000 shares, the cap italization having been doubled when the company recently reorganized, fol lowing a settlement of litigation with the Bunker Hill & Sullivan Company, pays its regular dividend of 2 cents a share, or $52,000. CITY CASH $1 ,71 2,773.52 Balances Shown In fonthly State ment of Treasurer Adams. Portland, has a total of $1,712,773.52 on hand in the various standing funds, according to the monthly statement of City Treasurer Adams, issued yesterday. The statement shows the following balances: General 2 801.148.68 Water 48a,0.95 Bonded indebtedness interest.... 9s,lH5,79 Improvement bond sinking...... 173.tr77.48 t'ark and boulevard 3,314. 60 Broadway bridge 6,133.55 Kli eboat and fire, main ..... 108.03 Water bond sinking 42,610.87 "Water fund bond account....... 22.95 Bonded Indebtedness sinking... 734.74 Special bridge 15,276.67 Police and fire dept. relief 20.35 Kedemptlon 676.2 Public auditorium 14,847.42 Extension bond sinking......... 776.75 Extension bond interest. ...... ... 57 89 Sinking 17,175.43 Police relief ................... 4,305.36 lUlit tax &4S.U1 Street Improvement 1,971 89 Sewer 11,902.24 Street extension ................ 5,113. 27 Street and sewer Interest 3:11.64 Water main 4,7i2.08 Total $1.712,773.52 $405,000 IN TIMBER DEAL Season County lagging "Firm Buys IProm Rainier Investment. ABERDEEN. "Wash., July .4. (Spe cial.) The deal recorded yesterday by which the Mason County Logging Com-, pany purchased 2054.17 acres of timber land from the Rainier Investment Com pany is the largest made In this county in years. The total valuation, judging from the revenue stamps on the deed, was about $405,000. In a smaller transaction the Bame company purchased 968.13 acres from the Puget Mill Company at about $73,000. The valuation given on the assessor's rolls is $109,295. This is supposed to be 60 per cent of the actual value. The sale price must have been nearly twice the assessor's value based on the county cruise. DRUG COMPANY PROSPERS Trade Good First Half of 1915, Owl Heads Say, Paying Dividends. Business for the first six months of 1915 has been good, the heads of the Owl Drug Company announce In sub mitting a statement to stockholders on July 1, together with the company's 17th semi-annual dividend to the hold ers of 8 per cent preferred stock. Still further Improvement In business during the remainder of the year Is expected. The Owl Drug Company was estab lished in 1892, and since that time its progress has been rapid. It recently added its 21st store to the chain of establishments It operates. The com pany expects to extend its business still further, and will probably widen the territory In which it carries on busi ness. Invading other Coast cities. POSTAL SAVINGS SHOWN Net Loss of $1113 in Portland De posits In Week Indicated. A small falling off in deposits Is shown by the weekly report of the Portland Postal Savings Bank for the period from June 21 to June 26 The figures are as follows: . Dc- 'With- Bal- Deposltary posits, drawals. ance Main office $14,436 J18.244 $ 902,461 Station A 313 255 :7 littl Stations US 451 8 519 ttonC is 35 1 600 Station D 167 162 9 541 Station B 1,075 215 42'2f,A Station F 1S3 61 Stat on O 10 110 3 lu3 Station H 43 55 1 1M tit. J. branch 37 133 9,36 t-fcss-for Vefll18 BANKING PERSONALS. A. L. Mills, president of the First Kational Bank, was out of town three Says last week on a fishing trip. Lansing Stout, cashier, and C. B. fewall. assistant cashier, of the Hiber nia Savings Bank, are at Meadow Lake fishing over the Fourth. E. L Thompson, president of Hart man & Thompson, returned during the week from an extended motor trip to the California expositions. George H. Kelly, director of the Korthwestern National Bank, has left for his farm on the Upper Willamette, where he will spend several weeks. Carl S. Kelty, treasurer of the Lum bermen's Trust Company, has -been visiting Puge-i Sound and British Co lumbia cities on business the past two weeks. Emery Olmstead, vice-president ind manager of the Northwestern National Bank, is making a three-weeks vaca tion trip through Washington and British Columbia. L. M. Meeker, ex-vice-president of tne First National Bank of Canby, has sold out his interests there and was in Portland the past week looking for a new location. He Is still part owner of a Hubbard bank. George H. Burr, of George II Burr A Co.. New York City, commercial paper brokers, was in Portland the past week on business. He said rates are low on commercial paper. Indicating that the supply of money in plentiful. Harry E. Albert. National Bank Ex aminer, with headquarters at Mil waukee, 'Wis., was In Portland the past weeK. following a visit to his father. J. H. Albert, of the Capital National Bank of Salem. It Is considered likely that Mr. Albert may be appointed Bank Examiner In this district to succeed Lloyd L. Mulit. who lately resigned to become vice-president of the North western National Bank. INDUSTRY SEES CHANGE LUMBER DEPRESSION IS NORTH. WEST BRINGS DIVERSIFICATION. Federal Reserve Board Notes laereaa lns; Prosperity la Llveatormr Load Traaaportatloa Keeeaaary. OREGONIAN NEWS BUREAU. "Wash ington, July S. Reviewing business conditions In the Northwest the Fed eral Reserve Board. In Its monthly bulletin, sys: "The lumber industry i depressed and lack of bottoms hampers exports, although the report comes from Port land of several million feet of clear spruce taken at advancing prices for European account. It is asserted that business conditions in the Northwest cannot be good until lumber and shingles, on which the principal pay rolls there depend, can be marketed at a protit. As elsewhere, chief attention to the major industry results in a feast or a famine. Famine Impels di versification and one element of this has been the recent rapid develop ment of hog-ralslng. Formerly the pork consumed was almost wholly shipped in. This and other meats are now almost entirely local. "The livestock Industry Is prosper ous. Wool is being contracted for at high prices. Large numbers of range horses have been sold to Europe at fancy priced. Barley is reported in excellent condition. Apparently for lack of ships, the barley taken for Europe must go by rail to the At lantic seaboard. Wheat acreage has been importantly Increased. The un usual May rains made the hay crop probably the heaviest In 10 years and most favorable to livestock and dairy ing. Large amounts of butter are be ing shipped to Australia." Gold reserves of the 12 Federal Re serve banks increased during the last week more than $9,000,000. according to a statement of their condition July 2 issued today by the Board. It shows: Resources. Gold coin and certificates July 2. Settlement fund, credit balances. .$ 31 1915: .MO. WO .44S.0O0 .2SS.0OO aii otners Total g-old reserves 264! Leital tender notes, silver, etc.. ?4. Total reserves , 2S9. ,841.000 129,000 322.000 73.1.OO0 O97.0O0 33,0n ,187.000 ,:(2.0oo ,390. OUC ,2.W10 .Oul.bOQ tkio.Ouo mils discounted aim bought ma turities within 30 days Maturities within CO days Maturities within 90 days Maturities over 90 days Total Investments ............. United States bonds Municipal warrants Jjue from other Federal Reserve 13. 9. S, V 86. 7, 12, banks, net 9 Federal Ileserve Botes, net 7. All other resources ............ 8. Total resources .S366.4S1.000 Liabilities. Capital paid in $ 54.128.O00 Reserve deposits, net 27.f nri.OOO Federal Reserve notes, net 12 797 Xx) All other liabilities 1.673!ooo Total liabilities $360.411 0 Gold reserve aganst net liabilities 87.9 Cash reserve against net liabilities. . .90.1 Cash reserve against liabilities after settnr aside 40 gold reserve notes in circulation 9S.6 LUMBER IS BAROMETER JOHN W. BLODGETT FINDS PROS PECT FOR TRADE GLOOMY. Eastern Director of Lsmbrrmri'i a tlonal Bank Declares Repeal of Same Laws Necessary. John "W. Blodgett. of Grand Rapids, Mich, a director of ths Lumbermen's National Bank and one of the largest timber owners and operators in the Pacific Northwest, baa been a Portland visitor during the past week and he pointed out the need that something be done to restore prosperity to the lum ber business. He declared it is In a bad condition and that the Pacific Northwest cannot return to prosperous times until this, its chief Industry. Is again on Its feet. He advocates first of all a policy toward the railroads that will admit of their resuming business on a larger scale, so that they may aid In making business good again. "The purchasing power of the rail roads as regards lumber has been prac tically destroyed." said Mr. Blodgett. Construction of rail lines that marked the period of rivalry between the Har rlman and Hill interests was the great est In the history of this section of the country and Is now a thing of the past. There has been little construc tion sines that rivalry ceased. The railroads and the car-building com panies are the biggest users of lumber and since they have had their credit undermined by attacks, legislative and otherwise, they are hard put to It -to maintain themselves, so that exten sions are out of the question. "Correct the tariff that makes lum ber and other products free and repeal the La Follette seaman's bill. Repeal all laws that retard prosperity and check the country's development. At least give American capital and energy a chance to win their way to safety and prosperity. Apply these remedies to the depressed condition of business generally and times will be good again." BANK DEPOSITS INCREASE rive Portland Institutions Owe Pub lic $41,225,122. The third call on National banks by the Controller of the Currency for the present year asked for statements as to business on June 23. Compared with the last call, on May 1. the state ments of the five National banks of the city make the following showing: toans and discounts. June 23. $2o. 495.585; May 1, $24,666,934; Increase. 1828.651. Cash on hand and In banks. June 23 $15,515,528; May 1. $16.35.$63; decrease, $119,835. Deposits. June 23. $41,225,122; May 1. $40,549,202; increase $675,920. The total amount of standing timber In ths rnlted States la nsarly 279OO.O0u.OOO 0O board feet. Of this amount, about 76 'pr cent Is privately owned, approximated 21 Ser cent la In the National forests, and about per cent In some other form or public ownership.. Federal, state or municipal. BANK PLAN DOUBTED Status of State Institutions Under New Rule Discussed. PORTLAND MAN GIVES VIEW Edward Cooklngham FalIs to See Advantage of Membership in Federal Reserve System or Practicability at Present. Whether state banks will Join with National institutions in the Federal reserve system Is a problem to which financiers, as well as officials of the currency, are giving much thought. Up to the present National banks alone , ' Ji i ... V' Edward Cooklaakasa. Vlee-Preal-eat of Lsdd at Tlltoa. ho ixrasta If state Biiki Would Kin Mock Advaatasre ia Join ing Federal lie serve System. have availed themselves of the ad vantages offered them by the new system. Whether It offers equal ben efits to state banks is still a moot question. That state banks function differently from National institutions, with differ ent Individuality and interests, making membership In the Federal reserve sys tem. In Its present form, not wholly practicable for state banks. Is the be lief, briefly, of Edward Cookingham, vice-president of Ladd & Tilton Bank. As this Is probably the blggetft state bank in the Pacific Northwest, his ideas on the subject are of much In terest. In discussing the subject, he said: "For some time past the Federal Re serve Board has been engaged in for mulating and has recently made pub lic a set of rules and regulations gov erning the entry of state banks into the Federal system. The great Impor tance of this question, both to the Fed eral system and the state banks them selves, has made it one of absorbing interest ever since the passage of the Federal reserve act. ' State Hank Members Desired. "It is quite certain that the mem bers of the Federal Reserve Board are fully aware of the importance and de sirability of constructing a strong, co hesive and unified banking system, which shall include not only the 7500 National banks of the country, but also a large majority of the 17.000 bank ing Institutions operating under state charters. The board Is sincere and even enthusiastic In Its desire to de vise a practicable plan by means of which membership In the new system may be made attractive to these state banks. "Examination of the regulations just Issued Indicates that the board has sought to make the acquirement of membership by state banks practica ble. One of the factors which has op erated heretofore to a serious extent against entry of the state banks has been the fact that, under the law. there seemed to be no method by which state banks could retire from the system, sfter becoming members, in the event of their finding it Impracticable to operate successfully under the provi sions of the act and such regulations as might be made in future by the Federal board. "This objection the board has sought to remove by making a provision en abling state banks, which desire to do so, to relinquish their membership. However. In spite of this. It Is my view, broadly stated, that the ' regulations which the board has Issued will not result in an extensive influx of state bank a Difficulty Held FwadameataL "The difficulty is a fundamental one and lies in the radically different methods which have characterized the operations of the state and National Institutions, respectively, for yeara The old National bank act and the laws of the various states have differed widely as to tho character of business which the two classes of Institutions are permitted to handle. This differ ence having extended back over many years, naturally the divergence has become general, and it is practically Impossible, especially with such con ditions as now exist, for the state In stitutions to change the character of their business to conform to the provi sions of the law and to resrulatlons to which they have never heretofore been subjected. The business of the stats banks having been built up on different lines. It cannot easily be re constructed In a summary manner to conform to new requirements. "Of course, the state institutions cannot expect that the Federal board The Canadian Bank of Commerce HEAD OFFICE Toronto, Canada. Established 1867. A general banking business transacted. Interest paid on time deposits. Cos arclal Letters of Credit laaaesL Eicktsts ota London. KaAlaad. Boas at eed Kola. PORTLAND BRANCH. Corner Second and Stark Sts. F. C MA LP AS. Manager. RufiTGAGE 6 titiHi will promulgate regulations which would give them an advantage over the National banks, but It has been my view that unless and until the Federal board deals with the state In stitutions as a class, separate and dis tinct from the National' banks, com paratively few of the state banks will enter the system. Recearlllag Clasaea Ssigcslsd. "The reconcilement of the business of the two classes of banks can per haps only be accomplished by broad ening somewhat the operations of the National Institutions and curtailing slightly those of the state banks, thus putting both classes of institutions more nearly upon a uniform basis. "Under tha new regulations the Fed eral Reserve Board reserves the right to make such amendments and adopt and Issue from time to time such fur ther regulations authorised by the act as the board may deem necessary. This regulation somewhat clouds with un certainty what the exact status of the state banks will be after they shall have become members of tha system. Inasmuch as they have no means of knowing whether such future regula tions as the board might Issue would affect the business of the state Insti tutions unfavorably. However, Inas much as the National Institutions are subject to such regulations as the board may make. I think the stats In Uutlons would ba safe In relying upon the integrity and fairness of the Fed eral Reserve Board, the members of which are both able and high-minded. "Although It is my opinion that the Federal reserve act has some defects, I recognise Its great value and Its vsst Importance over our old National bank act. I sincerely hope the efforts of the Federal board to unify the banks of the country under one pow erful system may be J-e warded by suc cess, but I fear that tha new regula tions Issued will not result In this de sideratum, at least for the present. I have not yet been able to discover any Indications of a general movement on the part of the state Institutions of the country to enter the system. "I have not endeavored to give In de tail the various reasons which actuate the officials of state Institutions In hesitating to avail themselves of the opportunity to enter the Federal sys tem, for the reason that It would In volve lengthy explanations, some more or less technical In character, which It would take considerable space and time to enumerate. FINANCIAL SKY CLOUDY BAJT FRANCISCO BANK'S LETTER IN DICATES PROBLEMS IX FlTl'RE, Inability to Obtala Settlement for Com. anodltlea Betas; Exsorttd Con sidered Kmbarrasslag. "Lopsided Is the word applied to the financial situation by the American National Bank of an Francisco In Its latest monthly letter. Despite Immense trade balances In favor of this country that are rapidly piling up because of the great war demand abroad, great stores of money In the banks, bumper crops In sight, with an actual scarcity of skilled Isbor at some points. It might be predicted. It Is said, that a period of great prosperity Is in. sight, were It not for the fact that these usual In dications of prosperous conditions fall In war times. The large trade balance may easily be viewed as an embarrassment Instead of a great asset. It Is declared, by rea son of the fact of Inability to obtain settlement In either gold or securities, and the menace to the exchange market that the situation holds. "Our bumper crops, while gratifying from any point of view." says the let ter, "are assuring only as fsr as home consumption goes, as the export situa tion la unsatisfactory from various angles, such as excessive freight rates, scarcity of tonnage and the uncertainty of exchange. "Money Is plentiful and cheap, but only In financial centers, which has a tendency to Increase stock market speculations and curtail dividends of those banks which are customarily large buyers of commercial paper or loaners of money on call. "The approach of the export fruit shipping season presents a problem to packers and brokers quite apart from the ordinary. Their profits or losses this year will, to a greater extent than at any time In the history of the trade depend upon their ability to cope with an exchange market which, from day to day. Is giving evidence of having no bottom." MR. MILLS J0 PLAN TRIP Banker Named by Mr. 3Ic.doo to Arrange Sooth American Visit. A. L. Mills, president of the First National Bank, has been appointed by Secretary MeAdoo, of the Treasury De partment, to make arrangements for a visit of American bsnkers and business men to South America, although Air illlla said last week he had as yet re ceived no official notice of this honor. The news dispatches, however, carried the Information, The Invitation to make the trip Is extended on behalf of the Oovernment and Is to supplement the work or the Pan-American conference, recently held In Washington. Nearly J.OoO.ono willow cutttnes have boon distributed by the Korsot orrvtrs among, state experiment stations, forest schools. and Individual irn.rn. Now that the European supply of willow for furniture and baskets has been cut off. this American material Is In irfai.r demand. Our Facilities for Handling Your Account Are the Best You Will Find the Service Rendered Is Unexcelled THE Northwestern National Bank SIXTH AND MORRSON The Bank of Personal Service Courteous, competent Service in every depart ment is our specialty. We invite your pa tronage. 4 Interest Paid on Savings Deposits. Merchants National Bank Founded 1SS6. Washington and Fourth Sts. HEW BOflDS LISTED Securities of Recent Issue Of fered by Kean, Taylor & Co. GENERAL TREND SHOWN Quotation Indicate Prevailing Tendencies of City, State. In dustrial and Other Of ferings on Market. Kean. Taylor A Co.. financial agents of New Tork and Chicago, have listed several bond and note Issues Just put out that Include state, city, county, rail road and Industrial securities. The sta tistics of the various Issues Indicate prevailing tendencies In financial Issues. They Include: Elate of Tennessee refunding loan 4 and 4 per rent serial bonds, run ning from July 1. 11&. to 117-65. The price Is to yield 4.20 per cent. City cf l'aassle. N. J.. 4 S per cent refunding bonds, dated May 1. 1911. due May 1. 145: price 104 U nd Interest, yielding about 4 IS per cent Borough of Garfield. Bergen County. N. J.. 5 per cent funding bonds, dated June 1. 11S, due June 1. 134S: price IOCS and Interest, yielding about 4. CO per cent. Lexington A Kastern Railway Com pany, first mortgage S per cent gold bonds, dated April 1. 116. due April 1. 1S; price and Interest, yielding about 5.05 per cent. Atlantic Coast Line Railroad Com pany, general unified mortgage 4V per rent gold bonds, dated June 1. 1914. due June 1, 194: price tihi and Interest, yielding about t.10 per cent. Central of Georgia Railway Com pany, collateral trust morlctgs h per rant gold bonds: dated May I. 1187, due May 1. Ii37: price 92 H and interest, yielding about S.&9 per cent. Krle Railroad Company, first mort gage 6 per cent sinking fund gold bonds: dated July 1. 1907. due July 1. 1961; pr-.ee 103V and Interest, yielding about 5.75 per cent. Swift A Co.. first mortgsge t per rent sinking fund cold bonds: dated July 1. 1914. due July 1. 1944; price v and interest, yielding about 6.27 per cent. Lackawanna Steel Company. per cent two-year go HI notes: dated March 1. 1915. due March 1. 1917: price 94 and Interest, yielding about 7.10 per cent. Recent Bond &a!cs. North Bend. Or. The IS8.000 rail way bond iue was sold to James N. Wright Sc. Co.. Denver, at par and a premium of 1237.60. The bonds draw H per cent Inteeret and run for 20 years. The bonding company agreed to pay for printing the bonds. In addi tion to giving the premium. Coqullle. Or. Funding bonds In sum of 30.000 sold to Bwect. Csusey. Fos ter Co. at par and accrued Interest and premium of (31. Other bidders were Keller Bros., of Denver. J30.000 and premium of 165: Lumbermens Trust Company. Portland, par. accrued Interest and, premium of $331. McMlnnvllIe, Or. The 14000 equip ment bonds for the purpose of buying street flushing apparatus sold to Henry Teal, of Portland, at par. accrued In ter and $41 premium. There were five other bidders, all under Mr. Teal from 130 to tsl. Mr. Teal also will furnish the stork for tha bonds. Marshflcld. Or James N. Wright Co.. of Denver, secured the 136.000 bond lsue. at par' and a premium of (237.CO. The bonds are for paying outstanding Indebtedness. They draw SVi per cent Interest and run 20 yeara Portland City took over 170.373 city Improvement bonds, for which bids were opened June 22. Highest bid sub mitted was S.12 per cent premium. Pendleton Postal Receipts Cain. PENDLETON. Or.. July 4. (Special.) An Increase of more than 10 per cent In tha receipts of the local postofflce In the past quarter la announced by postmaster Tweedy. April. May and June each showed substantial Increases In revenue this year over tha same months of last year, tha net Increase for the quarter lust ended being 1741. 05 over the receipts of tha second qusrter of 1914. By greater economy In tha uo of wood, tho rr capita eonsuinptlon could oaaily r. rfurel from tho prvrnt r.iur of 3 no tuMfl feet to 1 M Or evn Jot) cubic feel j without hardihln. At ntM.nl . tim only' fto Dor ent of tho total volume of toe ires ! strt !se T.o rr eenl to be wasted. LOANS Improved Farms Inside Business Property Residences Commerce Safe Deposit and Mortgage Co. 91 Third St Chamber of Com. Bldg. Saving Is Common Sense No matter zvho you are, what you do, what you earn, how much you viay know or what your age, the one thing essential to a successful career is to spend less than you earn. An account in our savings department offers the best way to save. We pay 4 To interest and are under Government Supervision. Let us open an account for you. humbermeng National Bank Fifth and Stark ' Capital and Surplus $1,200,000 A Check The United States National Bank Third and Oak Sts. Portland, Oregon Capital and Surplus, $2,000,000.00 THE BANK OF CALIFORNIA NATIONAL ASSOCIATION of Sau-s FrsncUco. Founded 1864 Capital Paid in $S,500,000.00 Surplus and Undivided Profits $8,256,731.33 Commercial Banking. Savings Department PORTLAND BRANCH ' Third and Stark Streets The First National Bank OF PORTLAND, OREGON FIFTH AND MORRISON STREETS Capital and Surplus $3,300,000 This Bank is authorized under the National Bank Act and the Federal Reserve Act to accept interest-bearing Time Deposits and Savings Accounts. tk vr:ir.K.v r.r inr. San Francisco Los Angeles lthat Cassis Kb Haat TTs. Bis. (Ins, t BaCar-faal. --lf-saatlr Assslslrc, krsgslaf tlrasMklp S. S. BEAVER Sails rr'raas alaawarta !), A. M JLLt . INGslira Mlln u Calasabla Hiver. Ail Kslfa Isrlsss Berths aaa Mrala. Table aaa servtca IsriraUfs. 1'ae n t-'raarlrwa Tt Pnlss4 . a. .'-. T a I r a aaa WaaBlaslaa Sia. lllsO..W.R,,U lektlraa. ay A tUL FRENCH LINE CasBBasal Osasrala TraaaaLlaaOqoa, rUDIAL sr.. Vila, Sailuigs rcm KEW YORK to BORDEAUX Et.iVA.CNE July 10. 3 P. M. KOCH AM BEAU July 17. 3 P. M- NIAGAKA July 24, 3 P. M. CUICAGO July 31. 3 P. 3L FOB INFORMATION C W. MIMW, SS etB s.t A. U. IssrltK IM atariwa as. SL. M. lajtar, U U. S M. r. sir.s irw, Eft. ssuis, k im sa si. a. v. M. 1S M set U. UkkMS. S4S V las SC arta ttaaJt its so. SU Bad stars sta a. Mrsariaaa. SS aad aauis sts. I a- Is Hull,. It sat c farllasd. COOS BAY LINE Steamer Breakwater aaila tr'rsat Alaao.rts Usck. fortXaaa, avers TssrssSF at Is A. at. rela;bt as4 TIcmi Office. Alsiwsrts Deck, fsssis Mala Moo, A till City Ticket OSIre. o sta at. Faaaee Marshall 3wo. A aist. POHTUkD A COOS BAY B. a. last. AUSTRALIA MEW XEAIJLXD AM. OOL'TU bCAs. Rscular. ibrougb aallrae for Hycnmy via Tahiti u U.lllcitoa from baa Kra&clsco July 21. Aosust la. pimtr 13 aad svsry . dsn. sDd for pamphlet, taloa Meamaaiit Cav. mi n Kralaad. I4d. ss rfi airs. i. Baa 1 sr sscai a. a. aad Ji. H, as sale. Account Is a convenience which you cannot afford to be without. Open such an account with this bank and note the satis faction which it will give you. Tnuri.r.K c.rnr. TJ Cost It L,t ALL THE WAY BY WATER STEAMSHIP CEO. W. ELDER Sails at 6 P. M, Wednesday. July 7 First Oast San Francisco. $12.00 Santa Barbara, $20.00 Los Angeles.. $20.35 San Diego $22.00 cfcuiirr mi rem f trel i THK Tit til' liIt.- Ticket Office 122 A Third SL Phones Main 13H. A 13H North Bank Rail 26 Hours' Ocean Sail If wtk. 1 r.pl-bcr.w. -Kaot -;Kr:T NOKTNKKS !. "NUK1HIK.N IAUIIC SAN FRANCISCO tnr Tuesday. Thursday aad Sauarday. S iU'Vi 5!" '",! K"! Barm statlea so A. M. : lunch aboard ship, 8s. arnvaa bo -sacsca :i0 K u. asat day. EXrRF.HS SERVICE AT mtlGIIT RATE. NORTH BANK TICKET OinCE, rTseseai ttdwy. S-'a. A . 1 Sta aad stark. American-Hawaiian Steamship Co. Express S'reisbl 5 ZV Beta-sea C. D. K.eaaed AsU. A s etaxh t rarUaao. 4