THE SU3STAY OREGONIAN, rORTLAND, JUNE 8, 1919.
SIXTY ACTIVE YEARS
! BEHIND GREAT BAPJK
House of Ladd & Tilton Cele
brates Anniversary.
LADD & TILTON BANK CELEBRATES SIXTIETH ANNIVERSARY OF PIONEER FINANCIAL INSTITUTION
. OF PORTLAND AND PACIFIC COAST.
EARLY HISTORY RECALLED
1'
Employes of Institution, Guests at
Dinner," Share la Observance of
l Interesting Ercnt.
12
f - t , - . - : ' "
-M j -X - . - A
w
Looking backward 60 years seems a
far cry Into the past. There are only a
few residents of Portland who knew
the vlllagre of 1839, that stretched along
the waterfront and was drawing its
fuel supply from the forests of fir that
extended back to .the hills. In 1853
William S. Ladd erected a one-story
brick building on Front street for the
mercantile house of Ladd & Tilton.
This was one or the early structures
of substantial character built In that
part of the town. In 1857 a second
story was added and In the upper room
of this building- the Ladd & Tilton
bank was opened June 1, 1S59, by Will
lam S. Ladd and Charles E. Tilton, with
B. capital stock of 50,000. The building
still stands, with a third story added
at a later date and now bears the num
ber 105 Front street.
In celebration of the 0th anniver
sary of the pioneer banking houBe, em
ployes of the Institution were enter
tained at a dinner at the Multnomah
Hotel Thursday evening. It was an
evening of social intercourse between
the members of the official family of
the big bank. In which the Individuals
of the various departments exchanged
felicitations and 'recalled the past of
the bank with which it is their fortune
to have a Dart. After the dinner the
115 employe-guests were entertained at
the Alcaiar theater.
nanVl History Interesting.
This appropriate observance of the
completion of six decades of uninter
rupted participation In the business
history of the Oregon country inter
ested the general public, especially per
sons who have shared In Its activities
from the public side of the counting
rooms. When statement!! were eent
.out to depositors June 1, accompanying
notices apprised the recipients of the
anniversary and expressed appreciation
for past patronage. From St. Helens
came a letter signed by James Dart,
an Oregon pioneer, who called atten
tion to the fact that he had been a
patron of the bank, for 52 years. Many
other patrons have recalled their long
connections with the Institution.
When Ladd & Tilton began banking
operations Portland had a population
of less than 3000. It was four years
before the creation of the national
banking system, although there had
been several experimental efforts along
that line. It Was in fact a time in the
banking history of the tlnited States
when responsibility was entirely a per
sonal matter and the only safeguard to
the public was the character of men
who established and conducted banks.
Banks Then Self Dependent.
The function of a bank then, as now,
was to act as trustee for deposits of
money, but It was dependent upon its
own resources, for in that day the
world had learned little of the inter
dependence of business and industry.
History of its growth In synonmous
with rtie development of the city as a
whole and its many lines of commerce,
with all of which it had to do in greater
or less degree. Steamboating was the
big transportation business of the
Pacific coast and linked the hinterland
with the important trade center that
Portland had become at that tim
Oregon was more advanced in agricul
tural development than California and
much In the way of foodstuffs was
taken from Portland to San. Francisco
by steamer.
. O. Mills had a small room in
Sacramento where he bought and sold
gold dust and nuggets, but there was
no other bank in existence on the
coast In 1S59 that Is still engaged in
banking here.
With growth of trade and establish
ment of commercial lines to the west
coast, to AlaEka and the Orient, the
bank had Its part. Long before the
railroad builders came It was expand
ing Its field to the Upper Columbia,
the Snake river territory of Idaho, and
the range regions of Oregon. Mail
communication with New Tork was by
steamships and rail transfer at the
Isthmus of Panama, or by pony ex
press to the Missouri river, taking
aDout 4 a da3'S one way.
Safety Aim at Resinning.
Founded upon the solid rock Of sound,
conservative banking practice, with
the motto of "A straight and safe
course," the bank prospered and grew
Keeping pace with the advancement of
the city and its trade territory, weath
ering the financial flurries of the years
and riding safely through the storms
that broke in 1873, 1893 and 1907, it
was one of the foremost of the large
banks of the country outside the na
tional banks to indorse with Its me
bership the Federal Reserve svstem.
By the close of 1859 deposits of the
hank were J49.S91.62. On Dec. 31
1S61, deposits had reached the sum of
$113,344.36. Two years after its found
ing Stephen Mead was admitted to part
nership and the capital -was increased
to $150,000. At the end of 1865. with
the setting in of the period of recon
struction that followed the close of the
civil war, the capital stock of the
bank was Increased to $400,000, and de
posits had grown to $400,000. In 1S68
a modern building was erected at the
corner of First and Stark streets ex
pressly for the use of the Ladd & Til
ton bank, which was an example of the
pent class of buildings of that dav. the
iron columiis and cornices for which
were cast at the Willamette Iron foun
dry. In an article in The Morning Ore
gonlan In October. 1S6S, when the bank
moved Into the new quarters, It wa
characterized as "on of the fi&est
structures in the state."
Growth f Rank Indicated.
The following table shows the growth
of the bank from Its founding to the
present time, presumably one or two
persons constituting the entire num
ber of its force the first year or two,
gradually increasing to five at the end
of the first decade:
1 ;i,r . -ir Tb-A.i.v .
. Si..
- T H J- -trt hi
1
ft i
. j' i
r i
Ji ll w V Uft't
.1
9, 1913, W: M. Ladd fetired &s president
of the bank and W. H. Duncklev, for
30 years cashier, retired from active
duties. Mr. Ladd continues at the head
as chairman of the board, but the active
duties of matiafremPtnt have fallen to
his able lieutenant for many years. The
following are the present officers and
directors: W. M. Ladd, chairman of the
board; Edward Cookingham, president;
Isaac E. Hunt, vice-president; R. 5.
Howard, . vice-president; Samuel L.
Eddy, vice-president; Walter M. Cook,
cashier; Thomas H. West, assistant
cashier; Cameron Squires, assistant
cashier.
SCHOOL LUNCH IS SUCCESS!
Klamath Falls Serves Children, at
Cost of 9.9 Cents Eeacli.
KLAMATH FALLS, Or.. June 7.
(Special.) That a nourishing and sub
stantial luch can be served to a grow
ing child at an average cost of 9.9
cents, in Bplte of the high prices of the
present day, is the statement made by
Miss Molly Stewart, principal of the
Klverside school here and manager of
the cafeteria, which served 14,471
luncheB to -the school children In six
months.
While the menu for these lunches
was nothing fancv, a good lunch with
milk or cocoa to drink, and bread' and
butter, with a meat loaf, baked beans
or something of this order, was served
each day, prepared In the best possible
way by Mrs. Bertha Frakes.
Miss Stewart's report shows that a
total of $1434.17 was taken In for the
meals and that $1432.76 was paid" out.
leaving the close margin of $1.41 In
the treasury. Groups of girls in the
seventh and eighth grades took turns
in serving, so that this cost was cut
out. The cafeteria seats about 100
children.
VETERAN GIVES . ADDRESS
Colonel Leader Speaks- at Browns
ville to Graduating Class.
BROWNSVILLE. Or., June 7. Colo
nel Leader, of the University of Ore
gon and a veteran of the world-war.
addressed the. members of the graduat
ing class of the North Brownsville high
school here at their commencement ex
ercises Saturday night. The address
of the hero proved to be popular with
students and audience.
The members of the class were: Miss
Florence Howe, who received a scholar
ship from Willamette university; Reese
Mallow, Lloyd Walker, George Wash
ington Crabtree and Kenneth Boyd. This
is probably the last class to graduate
from the North Brownsville high school,
because the two high schools and two
school districts of the town are to be
united next season.
l""' I SSf
iVhl TW v$?;n C' ' -
H r . 1 II I v i ; J
PlJXijJXj, 3 r-
rV - v; : f- 4 . t J !
J f -h'-- H V-i If I It
I
Take the Films You
Expose Today to
The Owl Drug Store
- - Tomorrow
for Developing and Printing.
They will receive expert atten
tion at all stages of the "work
and you will he more than
satis fed with the results obtained.
Incidentally the prints will be
ready when promised.
a.
Eastman Kodaks and Films
.U.rT.Or.
WASHINGTON ST. AT BROADWAY
E. Struplere, Manager
Telephones: Marshall 2000; Home, A 1332
PMINliS ARE BOOSTERS
.EW
ORGAMZATIOX FORMED
AT V:XCOCVER.
Prenldents. past and present. Cm nter Present banking; aoase. occupy
ing first and second floors of Spald Ing bnllding. Third and Washington
streets. Below Handing at 105 Front street, la second story of which
bank opened for business June 1. 1 K39.
Reception to Be Given Tomorrow for
Crew of Home-Built Ship, to
Sail for United Kingdom.
VANCOUVER, Wash., June 7. (Spe
cial.) For the purpose of promoting
Vancouver and Clarke county civic in
terests, an organization has had its
birth In this city. The organisation Is
known as the Crunariana. Officers
elected to serve until July 1 are: W. J.
Shaw, president; R. C. Dunbar, secre
tary, and W. S. Bhort, treasurer. By
laws have been adopted.
At the meeting Thursday It was de
cided to hold a reception Monday after
noon on the steamship Huttonwood.
which is to sail Tuesday for the United
Kingdom. The captain and the crew
are to be honored. A committee con
sisting of It. E. Detrlck, C. F. Paige
and J. J. Donovnn was appointed to
have charge of the social affair.
The I'runarlans have launched a
movement for a library for the Van
couver-built ship which is to start
shortly on her maiden journey.
Hod Cross Gifts Recounted.
BRUSSELS. Since the armistice, the
American Red Cross commission for
Belgium has dlstrlbed some 8.000.000
francs for the benefit of various Bel
gian charitable works; 1,300,000 francs
to help Belgian refugees returning
home; 1,000.000 francs for the mutilated
soldiers and civilitns, 1,250,000 francs
for destitute children; 1.200.000 francs
for organizations combatting tubercu
losis: 120.001) francs for military hos
pitals, 250,000 francs for civilian hos
pitals and 60,000 francs for building
wooden houses for Termonde, which
was burned by the Germans in 1914
and where nearly 7i00 people are now
living in the ruins of their devastated
homes.
AJl Redly for ttlhie Griresitt
Rose Festival
Date.
r 3i. issn
Zc. SI.
Deo. 31. 17!
re-. 31, lfWi
) ec. 81, 1
Urn-. 31, 1 non
May 12, WW
Employes.
ill
Deposit .
9 4'..8i'l.2
ass.ooH.io
Dot.49-J.53
s.in.i.-)7.w
rv.7o,oi.;i
1 1.K1J.T44.75
l!l,t0U,13.U4
On January 1. 1911, the bank moved
Into its present commodious and splen
did quarters in the Spalding building.
The entire first floor was occupied and
was thought to afford ample facilities
for many years to come. But so rapid
was the Increase in the volume of busi
ness, that last year it was found too
crowded and the entire second floor
was added to the space required for
the accounting department. The banking-
rooms on the first floor are being
remodeled to afford larger space In the
foyer and better arrangements of the
departments for the rapid dispatch of
business.
At the last annual meeting, January
- Portland and the North
west's finest hostelry.
lUtes $2 and op
Splendid grill and fa
cilities for entertaining
private parties.
Portland, Oregon
"Our Musical Floor"
The Seventh
To Be Headquarter
For Out-of-Town
Musician
and
Musical Shopper
A Large Shipment of
Baby Grands,
' Aato Piano and (
Beautiful Upright
Came in Friday and
Will Be on
Display All Week
We are going to feature this week the celebrated
Francis Bacon Baby Cjrand, brand new, at $595.
In addition to this remarkable offer we will have on sale some splendid values in
slightly used instruments, including Ludwig, Chickering. Weber, Kurtzman, Kimball,
Bush & Lane, and Hinze. . .
Be sure and visit our "Musical Floor" and learn of the great advantages we offer
our patrons in prices and in service.
Save $100 on Any Style Piano
x7"MarcKandiao of O Merit Onh
; ;
t J i
Dr. B. E. Wright
WHY DO
PEOPLE
NEGLECT
THEIR
DUTY?
The election last Tuesday was probably the most im
portant that has ever been held in the state of Oregon.
Measures carrying appropriations running into millions,
of vital importance to every resident of the state, were to
be decided by the people.
Yet hardly one-third of the registered voters of Oregon
showed enough interest to go to the polls.
The same careless indifference is shown by most people
in caring for their health and personal appearance.
They neglect their teeth until they become decaj-ed and
useless and are compelled to resort to artificial substitutes.
If you must have artificial teeth I can give you results
that cannot be excelled anjvhere.
The plates that I will provide will fit perfectly and are the
best substitutes for your natural teeth that can be secured
here or elsewhere.
In all branches of dental work you will receive the same
scientific, considerate treatment that has made "Wright
Dentistry" almost a household word in Oregon.
MY PRICES ARE YERY REASONABLE
DR. B. E. WRIGHT
PAINLESS EXTRACTION OF TEETH
Twenty Years in Active Practice
Northwest Corner of Sixth and Washington, Raleigh BIdg.
Phone Main 2119
Office Hours: 8 A. 3M. to 6 P. M. Consultation Free
Open Evenings by Appointment Sundays 10 to 12 A. M.