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About Morning Oregonian. (Portland, Or.) 1861-1937 | View Entire Issue (July 19, 1915)
9 LOW RATE END. DUE CASH LEFT IN BANK Jackson's Administration. 1529-1 S 37 War on Bank or fnlted Slates. Withdrawal of Government niooay (rom PORTLAND BANKER WHO HAS JUST RETURNED FROM TRIP THAT REVEALED GREAT ACTIVITY IN MINING COUNTRY. the bank. TITE 3IORXING OREGOXIAN. 3IOXDAV, JULY 19. 1915. Portland Bankers Begin to See Close of Easiness. PRIME PAPER OUT SMALL '(Vail Street Journal Says "A Spotty ' Condition Exists in Commercial Paper Market" East Finds Cash Easy to Borrow. Rates on financial paper now are lower than they have been for nearly a decade, but Portland bankers are be Rinnlng to see the end of the easiness in. this particular. In the East money never has been easier for borrowers and loans for pe riods of six and nine months and even year are not infrequent. "A spotty condition exista In the commercial paper market," says the "Wall Street Journal. Money Is Plentiful. "Summed up in a nutshell, money is so plentiful and the amount of prime paper being issued so small, that al most the lowest rates for a decade pre vail. Some of the best paper with a maturity up to six months has recent ly been placed in this market at 3 per cent. "A rood indication of the favorable position of the market from the bor rower's standpoint is the fact that banks are accepting seven, eight and even nine months' paper. There is at least one instance of a concern -of un questioned credit placing paper of one year's maturity. This latter is, however, an unusual loan on a strict ly commercial note, and was available only to a concern with a business of national importance whose credit po sition was unimpeachable. But it em phasizes the easiness of the money market "The foregoing should not be taken to mean that all the banks are buying up good paper at the prevailing rates. As a matter of fact some institutions have withdrawn altogether from the market, preferring to seek other chan nels of investment for their idle funds than accept even prime name six month paper at 3 per cent, or seven to nine-month maturities at 3, to 4 per cent. Some Loans Out of Question. "The official of one large bank is credited with the statement that this rate of interest means starvation, and cannot of necessity obtain for long. As it is, only the institutions in the larger centers are loaning at all. For the banks in the smaller cities and more particularly the country banks, loans on commercial paper at rates un der 3 '4. to 4 per cent are out of the Question. "On the whole, therefore, it would seem that rates had about .struck bed rock. From May to July, 1911, it is recalled that some prime name six- month paper found a market at slight ly under 3 per cent. "With this precedent in view it is maintained in some quarters that 2-A per cent or even 2 per cent paper is not impossible. It is also argued that owing to the fact that the Fed eral Reserve Act has enormously in creased the resources of the banks, there is every reason to anticipate further lowering of rates, unless an unexpected increase in the demands for money occurs in .a short time. "At all events, the present low rates cannot remain in vogue for long, if they move upward only in anticipation of a firmer money market in the Fall of the year, when crops will have to ' be financed. Then there is the addl tional possibility of foreign borrowing In our market, and the further llquida tion of foreign-held securities, both of which influences would tend to harden money rates." BRANCH 'BANK WANTED lelay in Dealing With Parent at San Francisco Related. "It is felt that it would go a long day toward making the collection sys tem of the Federal bank of this dis trict popular if a branch should be established in the Pacific Northwest, to which items could be sent for credit and clearance," says the Pacific Banker. "Bankers in this section are rathe free to say that the routing of the parent bank at San Francisco is rathe roundabout, especially as regards th time when credit on items takes ef feet. "In this regard It would seem that there is more reason the distance be ing about 900 miles for a branch to be established in this section than that the privilege should be extended to some of the other cities which are aHklng for it. Such cities are Louis ville. Baltimore and Buffalo. And ye scarcely a, day goes 'by, since New Orleans received its appointment, tha we do not see mention of activities in all, or some, of the other cities." r V A i r 41 v' . & - i V r Thousands of Dollars About to Go to State. MONEY FORFEIT IN 7 YEARS Sums of From 1 Cent to $3 00. Dor- want In Banks, to Be Paid to School Fund Under Law. List Being Published. Sums ranging all the way from 1 cent to nearly 1300 remain dormant to tha credit of depositors In various Portland banks according to the state ments now being published in compli ance with the law's requirements. under the law any depositor who has not made a deposit or withdrawn any part of the principal or Interest for a period of seven years will forfeit all principal and accrued interest and the money will be paid Into the treasury of the state for distribution in the school fund. Following are some of the typical accounts and their respective credits In varioua Portland banks which have not been active for a period of seven years ended July 1, last: Bertha William. P. O. Box 730. Part. land. Or. a Ella Axhbauirh. J74 Fourth street! Portland, or. O. M. Smith, care Olds, Wort man King-. Portland. Or. Mary C. Wllllla. 44 East Ever.tt Portland. Or 144.34 IIS t.o: 17. Oi street. J. C. AIXSWORTH, PRESIDENT TJXITED STATES NATIONAL BANK. Vast increases in the prices of copper, lead and sine, due to the war, have set the wheels in British Columbia moving in smelters which have been closed for years, according to J. C. Alnsworth, presi dent of the United States National Bank, who has just returned to Portland from a week's trip to Kootenai Lake. Nelson and other points in Birtish Columbia. Mr. Alnsworth went to investigate crop and other conditions and to transact personal business. "I found conditions extremely good in the Kootenai Lake district," said Mr. Alnsworth yesterday. "I stopped in Spokane. I found everything there looking prosper ous, too." INDIAN LANDS OPEN Allotments on Colville Reserve to Be Sold. BIDS WILL BE RECEIVED Tracts Must Be Inspected by Pros pective Buyers and Sealed Of fers Made by September 15. Partial Payments Accepted. -FOUR BANKS ARE ADDED St. Johns and Linnton Included in Portland Statements. Portland bank statements hereafter will have to be revised to Include the records of the four banks at St. Johns and Linnton, which, now that those place3 have been merged with Port land, belong with the banks in the city proper. According to estimates of the Pacific Banker, the combined capital of the banks is $165,000, profits and sur plus 139.000. deposits almost S800.000. loans and discounts 1600,000, cash and exefiange xi0.000. J. M. Johnson, superintendent of the Colville Indian Reservation, Nespelum, Wash., is offering for sale on Septem ber 15, a large number of Indian allot ments in the north half of the reserva tion. Three hundred and sixty-seven acres of this land, -which borders the east side of the Okanogan River, be tween Oroville and Tenasaet. win o irrigated by the West Okanogan irri gation project, to be completed in time to furnish water lor me Circulars have been issued showing locations and appraised value of the land. It will be necessary for anyone interested personally to inspect the land and mail sealed bids. A certified check for 10 per cent of the bid must accompany the offer, and when accept ed by the Government. 15 per cent ot the purchase price is payable; the bal ance in three equal annual payments with Interest at 7 per cent. The rail way between Wenatchee and Oroville runs through these allotments, and shipping stations are only about five miles apart. The surrounding hills contain an abundance of cheap pasture, afford ing a splendid opportunity for produc ing and feeding livestock at a low cost. Nature has been prodigal in this district, where fine volcanic ash soil and ideal climatic conditions suitable for the production of high-grade fruits are combined with exceptional natural advantages for dairying and stock raising. Miss Olive Smith, a granddaughter of Okanogan Smith, a "squaw man," who QT-riri in on horseback in 1863 apple scions from the original Trees piauteu by Marcus Whitman at Walla Walla. h Inherited the allotments which con stitute the Okanogan Smith Ranch. The sturdy apple trees planted ny ner thrifty ancestors 53 years ago today are producing bountiful crops of fruit. Mr. Johnson, in behalf of the Govern ment, is guardian and collects the an nual rent on the Improved allotments. holding the money in trust, or aistrio- uting it.as needed. He has just receivea and approved a request from Miss Smith for funds to defray trie expenses oi a trip to the Panama-Pacific Exposi tion at San Francisco. St. Paul and Minneapolis crowd also will join the Chicagoans. The bankers of Chicago. through their committee on transportation. have extended an invitation to the bankers In the states of the Seventh Federal Reserve District, and to those of all other states from which special trains will not be operated, to join them in their tour to the A. B. A. con vention in Seattle, in September. It has been estimated that the travel from this point will be sufficient to fill a complete special train on each of the three great Northwestern trunk lines, and arrangements - accordingly have been made for a duplicate of the Olympian over the Milwaukee lines the Oriental Limited over the Burling ton and Great Northern lines, and of the North Coast Limited ' over the Northwestern and Northern Pacific Railways. These trains will be com posed of the best cars obtainable, and will furnish every luxury and conven ience of travel, and will take the places of the several sections which formerly were required. These Chicago parties will disband at Seattle, but it. is understood that most ot the members will come to Portland singly or in groups, stop ping here on the way to California. Committees of Portland bankers are preparing to entertain the Kastern visitors In adequate fashion. Automo bile rides and some more formal func tions will be arranged. BOND SALES ARE VARIED BUYERS SPASMODIC ON MARKET, CHANGING MI.VDS OFTEN. Transactions at New York, Are Report ed Nearly at Level Made at Ex change for Jane, 1914. BANKING PERSONALS. Henry W. Hughes, assistant cashier of the Hibernia Savings Bank, and Mrs. Hughes have as their house guests Senator and Mrs. B. R. 1B11- man, of South Carolina, Mrs. Hughes' parents. Kdgar H. Sensenlch. cashier of the Northwestern National Bank, was member of the committee that wel comed the Philadelphia city officials who accompanied the Liberty Bell to l'ortland last Thursday. A. L. Mills, president of the First National Bank, has started on an auto mobile trip through Central Oregon. He is accompanied by his two sons, They will tour through to California and will visit the expositions then before returning to Portland. J. C. Alnsworth, president of the United States National Bank, was in Spokane on business last week. L. A. Coolidge. ex-asslstant secre tary of the treasury, who visited Port land for several days last week, called on several local bankers while here. R. W. Schmeer, cashier of the United States National; L. L. Mulit. vice- president of the Northwestern Xa tional, and E. G. Crawford, vice-presi dent of the Lumbermen's National were among the most active bankers who helped to entertain the Shrlners cere last week. Unsteadiness and irregularity still seem to characterize the bond market. The Investing public, it appears, is af fected by every little favorable as well as unfavorable ripple that is likely to influence the financial situation. The month of June drew to a close, reports the National City Bank, of New York, with the volume of transactions on the New York Stock Exchange ap proximately equal to the volume of transactions for the month of June, 1914. "The decision of the Supreme Court in the case of the United States Steel Corporation, announced early in the month, was a favorable factor in stim ulating confidence, and for a number of days thereafter bond dealings were on a large scale," says the report. "Since then the interest of investors has appeared and disappeared in gusts. Bond sales on the New York btock F. H. Irwin. Mount Tabor. Or John P. Ryan. S3 Cor be it Portlnnd. Or. Elizabeth M. Dyer. 402 V4 Third tr. roruHDQ, ur. Maelielle Robertson, 22S Eleventh street. Portland. Or Mrs. U. E. Allen, Molalla. Or American Banlc 4k Trust Comuany. Portland. Or. C. A. Baker. Sherlock building;. Port land, or. Q. liaillet. Thirteenth and Falllnr streots. Portland Or. Mrs. David R. Bell. 6t NorthruD street. Portland. Or. Oeorj, J. Bin Isms, 2t Evsr.tt street. I'ortiana. KJr, Allen Brown, 21 Fenton bulldln. Portland, Or. E. L Carter. 323 Washington street. Portland. Or. Caswell Kallas. Seventh and Morri son, Portland, or. B. E. Shahan. 486 Davenport street.. Dorthy P. telmpion. 4,0 Twenty-second street Herbert Stanley Smith. Port WrlhL. Bpoaane. vt asn P. H. Smith, Centralis. Wash H. R. Spencer, SCO Tillamook street.. A. M. Staples. 610 Buchanan bullntnir. W. C. Stearns. Ti Nurllirun street dead Henry Tannsr. LaCenter. Wash....... Clark Tabor, Baker City. Or. L.. Clyde True, 234 Porter street Adeline M . i nderwooa Barbeau alle A. U. Vauirhn. 101 H Twelfth street.. Frits Waterman. Motel Hhelnpfals. . . M. Warren Mrs. J. H. Wlst, 4 Twenty-third street orth Western Advertising Company. 669 Cllsan street Dr. J. V. White Mrs. C. F. Wllke. Woodland. Wash.. J. C. Wlndle. Cleone, or K. K. winterstein. .us becona street.. O. P. Wolcott J. C Ysncy e W. 8. Townaend. 3414 Forty-first ave nue MtlthMt J. V. Mundy. Med ford. Or Julia Murphy, suardlsn. 470 Oberltn street. I'ort.moutn. or. Nancy W. McCoy. Cathlamet. Wash... Charles McGinn, Jr.. Courthouse Timothy K. Breen. Sis Klral street... Sad In Conway. 411 East Sixteenth.. street Edmund T. !.and. 1434 Oraod avenue. Daniel A. Smith. Hani Rs.mu.sen I.oUie Elizabeth Button F. E. Hart. 406 East Bumslde street.. Marcar-t E. Blsham. Cleveland avenue ............... William Kchurman. Lenta. Or Mrs. K. R. Coo H F. Caraher, 636 Clay street William J. Lynrh. Oreronlan ensrav- lns department u.nrv Wu.her. 13-1 Mllwaukls street. J. C. Merrill 2S7.4& Miss K. Kretman. 463 East Jcverett street G m. Lafferty, Occldentsl Hotel L J. Ryan. S4 Dawson street Portland Philharmonic Society Elizabeth P. Pomeroy. 440 Scott street, Palo Alto. Csl O M. Rlsser. Alexandra Court. Port land. Or. 0. A. Roberts. 5S Union avenue North. Portland. Or Mrs. J. A Sllppern. J88 East Taylor street. Portland, Or Smith & Thomas, St. Johns. Or Wllllsm Stsnley. Lents. Or.. Emma I Stanley. Lnts. Or. J. K. Btrauhal, 3SJ Eleventh street. 'Portland. Or 1. R. Turney. Eaton Hotel. Portland. MriT' e! 's.' uilreV. 477 'ob'erlin street. Portland. Or. John E. Younnr. (Second and Ankeny street-". Portland. Or i -: r a VL'at Park street. Portland, Or 50.00 lu.' 3.7 1.43 1.12 .06 .01 .60 1.41 .42 4.65 .1 .72 .01 10.04 34.74 4.43 14.73 4. no .40 2 40 4.00 271. 1 2.0U 2.71 .4 2 04 6.O0 4.:i S.03 14 40 146 4.0 .64 1 7 2 ft 1.60 1.O0 6.26 .cs ..'.2 13.no .20 . loo .46 1.7 i:.o .40 2 40 !.( 1.1)0 1.00 1.00 . 10 1.00 13.30 24.60 4.44 2.14 4 2.44 4.10 7. 4 3.66 I 60 S.40 6.00 ISO Wildcat state banks to contend with. Specie circulation prwfetem. Surplus revenue forca bill. Van Buren'a Administration. 1 S37 1841 Psnlc of 1417. Independent treasury move. Taylor's Administration. 154-1853 Roacovery of sold In California. And ever since almost each Admin istration has had financial problems large enough to make the issue Na tional. The financial problem looms larger now only because it is more complicated and is rreener In memory. It Is doubtful In the minds -of many experts, however, if the present and Immediate past has or had any areater constructive financial geniuses than the first 7& years of the Government produced, in proportion to the .demands of the times. To the average person a banker, dur ing business hours, is a forn-'dahle personage and quite Impregnable against fraud In any form. And yet clever crooks say a banker is the easiest one to "bilk" if you catch him out ot tha counting-room. At one of the National conventions of bankers a few years ago the discus sion came tip as to whether small checking accounts of young clerks, traveling salesmen and wage-earners of various classes were detrimental and too costly in comparison with the ad vantages of possible occasional bal ances Some of the sharp New Kng ana Danker argued the expense o carrying sucn accounts, which were more often "checked out" than showing balances, did not warrant inviting them. A young Middle West cashier, who Is now at the head of one of the largest Atlantio Coast banks outside of New York, answered: "That argument is very good If you expect to run your bank only for to day. You take chances on Investments that run several years. These young depositors who are nearly always 'checked out' today will be your busi ness men of tomorrow, and they will show balances then. In our bank I consider some of our 'dead-timber' de positors' Investments of the future." Occasionally now, a bank charges the small, valueless depositor II a month for keeping books for him. so to speak, but the majority of the bankers look upon the small wage-earner, with am bitions to keep a bank account, aa the moneyed man of tomorrow. The One Sure Way We know no royal road to wealth. The royal road to independence is Thrift Economy and the Habit of Saz'ing Liberal rate of interest paid. Capital and Surplus, 52,000,000.00 The United States National Bank Third and Oak. THE BEST EVIDENCE OF OUR CONTIN UAL AND RAPID GROWTH IS THE GREAT NUMBER OF SATISFIED CUSTOMERS WHO ARE DOING BUSINESS WITH US. THE NORTHWESTERN NATIONAL BANK Draughts and Bonds o NE of the Portland bankers tells a ciety woman, who overdrew her check ing account recently. The overdraft regulation was in force, but the woman had overdrawn such a small amoun that the cashier merely honored th check and wrote her saying her ac count was overdrawn $4.65. knowing tha client could easily replenish he checking fund. The next day, however, he received a letter and an enclosure from the woman. It read: "Enclosed please find my check for $4.65 to cover overdraft. Thank you. etc. Graphology is more and more be coming a fine art with bankers. The old habit of relying on a sort of sixth sense to tell a cashier or a teller whether a signature is genuine Is pass ing. One banker whose library con tains half a dor.en volumes on the sub ject, says he has so far mastered It sufficiently to tell whether a man and wife are compatible by studying their handwriting. A bank Is a consuming rather than producing institution In a strict sense. Tha publlo rarely stops to think of it. but it costs tha average bank around $S00 at least to open Its doors each banking day. and this and all the Increment of the business must come as the profit in tha trade of one com modity money. Canceled notes In themselves are valueless except as possible receipts, yet some bankers look upon them as good security. The reason Is obvious. The man or merchant who can produce a series of canceled notes showing that they wer paid on time, finds them a good asset and business argument In opening negotiations with a new bank, or with an institution where he Is lit tle known. They are good letters of Introduction. Bank clerks hours In fancy are short 10 to 3. In reality they are more likely to be 7 to (. But at best they begin lust as tha parade starts and end after tha ball game begins. In one of the cages at the First Na tional Bank there Is a telephone, and the teller In charge Is a nervous young fellow. The adjoining window la in charge of a phlegmatic old accountant. One day recently the young teller was jiggling the telephone receiver with a vengeance Ilia neighbor said nothing until quite awhile later, when, turning to his co-worker: "Say. Bill, you're pretty much of a scientific turn of mind, iren't your Bill, rather pleased at the recognition of his prowess along that line, re plied; "Why. er a little bit, maybe: why?" "Weil, I have been trying to figure out the scientific advantage of Jiggling that phone hook when the girt doesn't answer. Give me a scientific explana tion, will your1 No wonder capitalists have such frigid ways. James J. Hill and George F. Baker have been having an outing in Labrador. At the recent commencement exer cises at Harvard it was announced that such men as J. P. Morgan. O. F. Baker, Howard Elliott and James J. Hill con tributed to the Harvard Business School fund, the professorship of which Is to be named aTter James J. Hill. The pro fessorship Is the first of its kind any place in th world. The fund was made possible by the- concerted action ot bankers of New York and Chicago and railroad presidents. rtv a new process In tna manufacture of cotton. It Is said to be possible ta make a product which will take the plaoe ot hiintinr In makinir flaira The Bank of Personal Service One frener&l plan or system will not fill the needs of all customers. This bank offers a personal service, an individual attention that is bound to meet your requirements and make your banking- relations profitable, and pleasant. We Pay 4 Per Cent Interest on Savings Deposit. MERCHANTS NATIONAL BANK Founded 1SB6. Under Government Supervision. . Washington and Fourth Streets The First National Bank OF PORTLAND, OREGON FIFTH AND MORRISON STREETS Capital and Surplus - - - - - . - 3,500,000 This Bank is authorized under the National Bank Act and the Federal Reserve Act to accept interest-bearing Time Deposits and Savings Account?. LOANS Improved Farms Inside Business Property Residences Commerce Safe Deposit and Mortgage Co. 91 Third St. Chamber of Com. Bldcr. TK.tVEI.ER4' CllDE. SPECIAL EXCURSION LIGHT ON THE COLUM ; DAY- a UMBIA H TBAVELERF' GriDE. T. nn I .. In j4itA limn A ral n rcn Exchanire for the month of "f P I ment. raor. tactful than direct, ov.r Ihe to and including June 24 ) amounted to ' phone to make tha woman, whose name ANM'AL CONVENTION OPE ."MS AT SEATTIE IN FALL. I'ortlaad Will Be Iavaded la Septem ber by FMnaaclal Men Oolnar and Comlae From Bteetfns;. Portland will be Invaded early In September by a score or more of or ganized parties of bankers from all parts of the country, who will pass through this way, going to and from the annual convention of the American Bankers' Association at Seattle. The datea for the convention are September te 11. Many bankers' par ties already have been formed In the East to travel to Seattle in special trains. ' Most of them will Include San Francisco in their itineraries and. nat urally, that will cause them to stop and visit Portland. Nearly all have arranged for visits varying from one to two days in this city. The Ohio bankers will have a luxu riously equipped train, operating out of Cleveland. They will be in Port land after the convention. The New York bankers are coming In similar style and likewise expect to visit this city. It is probable that three separate special trains will be run out of Chi cago to carry bankers from that cttv, St. Louis and the Middle West. The $46,670,500. as against (64.284.200 for the month of May. 1915. 1114.889.000 In April. 1915, and $45,409,500 In the sim ilar period of June, 1914. Total sales for the year up to June 24 amounted to about $385,000,000, as against about $365,000,000 in 1914. The average price of 40 selected bonds, as given in the New York Times increased from 82.59 June 1 to 83.50 June 15. declining to 83.35 June 24. The average price of this list of bonds at the close of the month is approximately the same as it was at the beginning of April before the heavy investment demand of that month carrted it to the high record of the year. 'The moat active issues on the Ex change were the New York Central convertible 6s and the Westlnghouse Electric & Manufacturing Company convertible 5s, with transactions up to June 24 of $6,450,000 and $3,358,000 re spectively. The activity in connection with the second issue Is due to the proposed plan which gives certain new advantages to the bonds In exchange for the elimination ot a restrictive clause in the indenture. The demand for tho New York Central 6a is a reflec tion of the growing belief that these bonds are intrinsically cheap. "The most important event of the month was the sale by the City of New York June 29 of $71,000,000 bonds, consisting of $25,000,000 4H Per cent 15-year serial corporate stock, and $46,000,000 4 hi per cent 50-year cor porate stock. The average price bid for the total .Issue was 101.272 plus, which represents a premium of $903,309 on the total Issue tit $71,000,000 se curities. The issue was three times over-subscribed." Skamania Approves Road Bonds. STEVENSON. Wash.. July 18. (Spe cial.) By an overwhelming majority, the voters of Skamania County ap proved the $210,000 road bonds Satur day Three-fourths voted in favor of the bonds. figures In the happenings or me weea quite frequently, understand that what the bank wanted was more money and fewer checks. If bankers and others feel that Na tional legislators have consumed too much time with financial legislation the last few Administrations. it's rather consoling to review banking and commercial legislation In the early history of the country. Mere are just a few financial problems the country bothered with between Washington's and Lincoln's tlmo: Washington's Administration. 1.S9- 1797 Tha three orlslnal iinanciat laws ot ids Nation wers passed. Tariff art pawl First Nstlnnal Bank chartered. Debta Jf tha states assumed with that nf tha Continental conarena. Madison s Administration, lava-ien National mint established. National Bank recliartered. J. Qulncy Adams' Administration, 1825-1829 "Tariff of shnmlnstlrtn" han1,4 The Canadian Bank of Commerce HEAD OFFICE Toronto, Canada. Established 1867. A general banking business; transacted. Interest patd on time deposits. Cas aerelal L4ra af Credit lsaa Enkasn aat Lsa4sa, KCavs la a a. Ila(kt mm Said. PORTLAND BRANCH. Corner Second and Stark St. P. C M ALP AS. Hanarer. 9M wairm fL0m THE BANK OF CALIFORNIA NATIONAL ASSOCIATION of Sam Francltco. Founded 18S4 ' Capital Paid in...-. '.$8,500,000.00 Surplus and Undivided Profits $8,256,734.33 Commercial Banking. Savings Department, PORTLAND BRANCH Third and Stark Streets The Coat It Ltsi - ALL THE WAY BY WATER Xa Ckaaere Kb Route If Tan Travel la "THE THRU LINE" S. S. GEO. W. ELDER Italia U4aM4ar, July SI. to A. M. Firat-Clas Fares. Including Berth and Meals. Coo Bay $10.00 San Francisco 412.00 Eureka $15.00 Santa Barbara $20.00 Loa Angeles $20.33 San Diego $22.00 San Francisco Los Angeles (Without Cavaase Km Itaatr) Th Bis. tins, 1 .nfsrfablr. Klraaatly Appoint. belax Meaaaahln S. S. PEAVER Sails From AlaiworlM Uses A. M, JILV SI. joenoldrn Mtlraoa 1 .luuibia K!er. All Halts Inrlaao Mr r I ax mmm Urals. Table ill s-ervlca L raerlled. Iht Kraarlirs A fort la ad 3. V li. Third and Waahiiaion Sta. twilh O.-W. R. at a. C. Tai. Broad way asoo, A 4U1. Ticket Office. 122 A Third SL Phones, Main 1314. A 1311. American-Hawaiian Steamship Co. aOrl rfl rartlaaa New ark Dtfoloa. FRENCH LINE Com pa til Oodrrmltj TrmstttaUlABtiqiataw 10 STA L MtaKVlClC. Sailings From NEW YORK to BORDEAUX TOURA1XE July 24. 3 P.M. CHICAGO July 31, 3 P.M. ESPAGXE Aug. 7.3 P.M. ROCHAMBEAU Aug. 14. 3 P.M. FOR INFORMATION AfPLT C. W. hUotrr, s etb at.: A. O. t bar Ilea. Morrtaa at.; K. M. la; lor. M. I". K. IhirM-v If. BRillll. II 3d a- A. 1 . febrloon. IUO d 1 - KlrkMi, aft t a.h laslun at. ; North liaok Hold. &IA and Maik I..; K. S. M. far land. 3d and Wa.hLaatoa sta.; K. H. Imtfy. W4 3d at- l'urtland. SAN FRANCISCO AND HONOLULU Steamship Sails Direct Tuesday, July 20, 2:30 P. M. SAX Kit IM IMO, I'OHTI.ANO A. l.tl A BTKAMMlll C. FRANK IIOI.1.AM. Anrat. 121 Third t. A-4.M. Alain 2d. NortH Bank Rail 28 Hours' Ocean Sail S-ImPs- Triple-Sorsw tt-linot. r.-.. -tiKKAT NOKTIIKRN .!. "NUUrilt'ltN I'llllir SAN FRANCISCO Eerjr Toeaday. Iboradar aid Satarday. m& iaiV. r. n. fceoied Agt- x.m Mara. Ht Portia a a AUSTRALIA DLW ZEALAMI AMI fOCTII KAs Rssular. throusb aalllns for Sydney ria Tibm aad Walllnstoa Iruia oan eranclsox July St. Auiuit la. biptimbir la sad avery 2S daia Cad tor pampbliL t alon hteanaaai- Caw. el New Zeslald. 14a tlf f s llarart street, ban raacler-o. as- local o. . aad U. K. aaraia. train :eavea North Bank station t-SO A. M : iuoch aboard ahip; arrive-. San Francisco 14 r" at next day. EM'KKMI MKVKK AT IHtlGHT atATK. NOKTII BANK TICKET OFFICK. rbnsea: Itdwy. tt. A a 1 th aid Mark. COOS BAY LINE Steamer Breakwater Salla KroM Alsamorlte Hock. Portland, nrry Tfcaradar at H A. M. Krrliat ssd 1 Iran Oftlce. Alaanarlk o-k Pbonrs Mali StMMI. Jtaa. tlty TloliM Offl, f Kth M. I'lian Marshall .eu. A 13U l-OIMLA.XU tUU WAV S. S. U,