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About The Oregon daily journal. (Portland, Or.) 1902-1972 | View Entire Issue (Dec. 24, 1905)
THE OREGON, SUNDAY JOURNAL, PORTLAND, SUNDAY MORNING, , DECEMBER 24,-, 18CJ. ' v BOARD OF DIRECTORS GOOD SERVICE , I, W. HELLMAN, President Walla Fra-Nevada Na tional Bank. Ban Franclaeo, and Union , Truat Co.. Ban Ftanolaea, and Preal- dent Farmere Mercbanta Rational , i Bank. Lo Angela. . PERCY T. MORGAN, , President of til a California Win A. - -'' aoclatlon. . 1 . , W. B. AYER, v - ". " Praaldent of th Eaatarn Waatara J . Lumber Co. . RUFUS MALLORY, -.. r Of tha law firm of Dolph. Mallory . Simon. . v , . D. W. WAKEFIELD, : Of tha raal estate firm of Wakefield, . , Fries Co. - v GEO. E. CHAMBERLAIN, , '...' Governor of Oregon. . R. L. MACLEAY, ' -rr Prealdant of the Maoleay Batata Co. -R. LEA BARNES, ' i Vice Prealdant J. C AINSWORTH. . ' Praaldent, alao Praaldent of the Fl- , dellty Truat Co. Bank, of Taooma, - i . Waahlngton, ,. OFFICERS J. C AINSWORTH. President W. B. AYER . . Vice-President R. LEA BARNES . Vice-President . Capital . $ 500,000.00 Surplus. . . $ 220,000.00 Deposits y . $5,000,000.00 OFFICERS R.W. SCHMEER . . Cashier A. M- WRIGHT . Ass't. Cashier W. .A. HOLT . . Ass't. Cashier v.; TRANSACTS A GENERAL BANKING BUSINESS Buys and Sells Drafts on All the Principal Cities of the World Comer Third and Oak Streets, Portland, Oregon We recdre, t Jtct to check,-. htatccounta of firms, indiridaals : " and corporations. No interest f-V is allowed on. these accounts ; :,, ' but we give good service, and ,. extend such other accommoda- tions as the " account and .. ' t. standing of the depositor will" ; justify. iJl-j--'A. :: BANKS S10W CITY'S (SAINS Statement of Portland's Financial Mart a True Index to the , - RcmarKable Increase of Business. - COMPARATIVE January February ......... April May -' June .............. v. Jy ' August ............ September ..;';.; , Octooer November ........ December ......... STATEMENT OF BANK CLEARINGS FOR TWO YEARS. 1905. -$ 18.120440.42 14,064,63041 19,654,154.47 16J1U68.60 18,751,465.98 20,124,799.60 18,353.750.29 17.227,295.27 2020,492.16 24,435,178.41 21,40232.03 Totals ....... . . nnm.w.i .$20766,707.74 . f ee .1904. $ 14,276,362.02 12,641,959.52 14.718,672.46 14,604,826.18 13,209,663.06 14,184,693 J9 1340,442.10 15,041,974 M 18338,951.97 21,627,106.89 19428,153.51 17438,6648 $189,051,469.92 s URF.ST of all indices of Port land extraordinary commer cial and financial growth within the oast - year is-the record of the business done by its banks. All . previous Records have been surpassed, both in amount. of 'deposits,. in volume of business and in .clearings. , , More indisputable even .than in the past is Portland's suprem acy as the financial center of the Pa cific northwest, and the evidences of the weTrith and solidity of its banking institutions are impressive. , -, Bank clearings for the yeir now ending present some striking facts. ' jWhile the figures for December are . ; still incomplete, it is certain that the increase for the 12 months over last year wjll be at least . $36,000,000, a .gain of about 20 per cent Compared vith the clearings for the year 1900 the increase has ' been about $120, 000,000, or more than 100 per cent - The clearings for 11 months of the current year (December incomplete) amounted to the impressive total of $207466,70774. For the correspond , infr period of 1904 the clearings were $171712,805.64, showing that the gain this year in 11 months was $35,653,- 902110, .With Jthe. complete Jigures for the present month a still greater gain will be shown for the year. - High water mark for the clearings , of a single day was reached March 6, 1905, when the' amount was $2,-! 085.475 33. This exceeded by about r00,000 the largest single day of - 1904. , As .usual the October clear ings were larger than those of any t .other month, averaging nearly a mil lion dollars for each business day. It js in October that the banks are . called on most heavily by exporters! of Oregon's products and this de- . mand was heavier this yearthan ytt before. Even more rapid than the increase jn clearings has been the growth of deposits.' As the only banks which publish the amount of their deposits . are the. three national - banksY exact - figures as to the total deposits, can not ie. given, but an approximation may readly be made. It it estimated that the three national banks now do clmost one half of the banking busi 1 ness of the city. According to the last statement of the national banks ihcir combined deposit on November 9 of jthis year were $21,162,77371, in . licatmg total deposits - in all the hanks of the city of probably $45, ' 000,000. In the opinion of some of . the banker the latter figure, is too liurfthey estimate the total de- i;ri as substantially in excess of $50,000,000. i ; Hut the most remarkable thing about the deposits is the rate at wWh thev have srrown. From' the figures afforded by the statements of the. three national banks the only exact figures to be had it appears Hint trie increase in ine lasc n numini has been over 40 per cent National bank, deposits on November 10, 1904, were i,yy,uu.z, , wnue on No vember 9, 1905. they-had reached a total of S21.lfi2 7.Vt 71 Th. inr,.. in these three banks alone in one year s time . was therefore $6,183,-073.43.-If it be assumed that there has been an equal increase in de posits in other banks the total gain for all of Portland's banks would be in excess of $12,000,000. It might be supposed that the gains m clearings and deposits have been due largely to the Lewis and Clark exnbsitinn and that thrv ar thr- fore only temporary."" But the bank ers of the city do rot take this view. Thev sav that nntv a small nirt nt the increase can be attributed to the .Hr.nc.:n m .... e .i . ;. must oi me . visitors from the east who came to Portland for the fair nmviArA thm1v t. fore coming with eastern exchange, si mai mey aaaea notning to the Portland rleartnr and f w nf tk.m opened accounts with the local banks. ixaiurauy mere was some increase in the business of the banks on account of the exDenditures hv the fair man. agement and . the, concessionaires. dui mis was not enougn to make any gre8t. difference. Of course. some of the fair visitor hav hrrnma dents of this city and the gains to the uanKing Dusmess trom this source are permanent. '-.-. Portland is a "reserve city," the na tional banks being required to keep a 25 per cent reserve, as against a IS per cent reserve reauired from- hnk not in a reserve city. The Portland national Danks are therefore at all times well prepared for unforeseen emergencies. A circumstance which must not tie forgotten in comparing Portland's bankinir titiina with that f mUm cities is that the daily balances of the ocai clearing nouse are always paid in cash or gold clearing- house cer- tificaten. and not hv rhrr tn. t , - ..v J IV W. VOI ried over into the next1 day clear mgs,- ne latter is tne system pur sued in some -other' cities of the northwest and it results , in a mis leading inflation of the total clear ings. The method pursued by the Portland cleasing house is not only ttitfre conservative but it avoids any fi'"1"1"": ui exaggerating me Busi ness of the banks. . ... , The future rA th Kantrtna. K.i.In... - v. un. i niuj wuaiiitgi in Portland could not be more prom ising.-, ine city is evrdently on he eve of a period ' of unprecedented growth and development. Values are advancing and all lines of trade vxpanoing. or is tlie activity confined to this city for It is fejt throughout the state. Hundreds of miles of railroads are to be con structed in the immediate future and vast areas hitherto Sfmost without transportation are to be opened to commerce and development. Thou sands of new vnt.rr.ri... ..A I or. already under way. Portland, the 1 Ori TIO ft I One must carefully gave for a period of years and deposit regularly with a sae institution so conducted as to hold his money safe and cause it to - F-carn a good rate of interest.. J- lei 1(0)111(2 r Is not necessarily to. wait until its total value has been accumulated, but rather to secure a loan payable, in a definite number of monthly in stallments and then ' scrupulously meet these as he is now meeting his. . rent! ' : -A- How to accomplish either of these desirable ends may be learned by - 7?T77'.'. addressing;-'- 7777;,' Equitable Savings & Loan Association 240-212 STARK ST., PORTLAITO, ORE. .'rf' . 1;, . CHAS. E. LADD. Praaldent TIfEO B. WILCOX, Vlca-Preatdant '. ... ' , P. irXKACHKlft SaereUry"1 ' EWD, COOKINOKAHr, Saeond Vlca-Praaldent and Manager ' financial center of the PacificTnorth west,. must profit enormously from this new era of multitudinous activ ities and the banks of Portland have before them greater opportunities than they have ever known in the past. Even the most conservative of local-financiers expect, the banking business of the city to- show enor mous gains in the very near future. Taaaa Thar Baa Stands! v ' From tha Choctaw Inquirar. Texaa la a whopper. . She' a feach. Bha'S tha wlldeat, broAdt and lonitest rouittrr on. earth.. itMirtlna; from aaat to waat and alao from north to aruth. Bha rould put Rhode Inland In hr vaat txxket, 8ha could fwalaw thre or four statea Ilka Maryland and waah 'am down br drinking; tha Mlaalaalppl dry, and could dlgaat 'ant without aver hav ing tha collo. Txa la the emplra atata ot tha Union, without any KaJaer Bill for an emperor. She la th chlafaat amon 10,000 and altogathar Uvaljr, wllVl. rackleaa, Bhe'e the pebble on the bAach. Sha'a on of tha old blue hen's chlrkena. She' tha eock of tha walk and the Damo erat of tha world. Sha'a wolf, and lt'a her day to howl. Taxaa Is bounded on tha eaat by the alltsrator of Loulalan and huckleberry thicket of Arkanaaa. 8he la bounded on the north - br tha tomahawk and tha war-whoop of tha red men. floe la bounded on the weat by tha chile eon cam of New Mexico and the hot taraalee of old Mexico. She la bnundedf on the -aotith tr the Otilf of Mexico, and If it waan't for that measly body of ea.lt r water ah would extend beyond the eoutfcv pole. ' I: 1- PORTLAND, 0REG0H UNITED STATES DEPOSITARY Capital $250,000 Surplus and Profits -$160fl00 . r, t . V - J. FRANK WATSON, . Presidanv' ' ' ' .. ," R. Li, DURHAM, . . f . Vice-President ft. D. INMAN f FRED 8. MORRI3 ' DIRECTORS-:; R. W, HOYT, :"y SMC Cashier ' GEO. W, HOYT, Assistant Cashlec ' . C E. SMITH , . Issues Drafts and Letters of Credit available in all parts of. the . world. Accounts of Banks, Firms and Individuals solicited. Collections a specialty. . ' . The officers of this bank will be pleased to .meet or correspond with those who contemplate making a change of their banking connections or opening new accounts. - . . . M. A.'M. ASHLEY C. E. RUMEUR Ashley & Rumdm i Bankers H i Deposits deceived Sublet to Check. ;r . '',: '-. : ' ' v, ' ' ; Securities Bought and Sold on Commission. ; v INTEREST PAID ON TIME DEPOSITS 245 Stark Portland, Oregon i K ' -, T ! fl . V , 2: C It Was Only oxoa. ' Prom th Shanlko Be. ' Quit a exaltement wa In avldene Saturday evening, and It wa railroad talk. Upon tha arrival of tha train, aom eroaa-eyed fellow (wa would sua"- I geat) mad hi way from th depot, up Iowa with th news, that private ear had arrived with bunoh of railway mogula who were on their way to cen tral Oregon to build railroads. W r not aura whether Prlnevllle received the nawa or tint, hut It la imM that the people f-Madra were out t see Juat .1 1 which way . th ear war earning. After thlnr had quieted down aorae what, a reward wa offered for th man who etarted tha report, for after a doe ' inveattgatlon Mr. HarrlmanV brlvat oar proved t be only a boxcar loaded -with m bridge gang, i ' ;.JJ5T"- 0- - - : - v" ! - ."
