The Oregon daily journal., August 07, 1907, Page 15, Image 15

THE OREGON DAILY JOURNAL PORTLAND, WEDNESDAY EVENINO, AUGUST 7, 1S07.
BA1III6 GROl'JTU PORTLAND
oiirinnmrn in
l i . MllfrlrlP ill I l .
V. UUIll IllULUv fiLL
Local Financial Institutions
Keeping Pace With Gen
eral Development'
' Growth of the banking business , in
Portland la a aourca of surprise i to
easterners and pride to Oregon people.
The banka of this clt and BUte are
keeping- paca with tba gensral develop
ment of tba oountrv. Bank Examiner
Steel haa Just. compiled a uat. or w
tha financial Institutions In Multnomah
count. Tha total number la 17. aa 101
Iowa:
Portland Ashlsy. Bumelln, Amerl
can Rank . Truit comDinr. Bank Of
America, Bank of California, Banker's
tt Lumbermena' bantc, uatee. worn w.
A Co., Canadian Bank of Commerce, Clt-
isena Dana, unnmiroiu iMruii
East Side bank. Frenon Dana, uerman
American bank, Harvey O'Bryan Invest
mant A Truat company. Hlbernla Bav
Inge bank, Home Security & Invest-
Sent company, Italian-American bank,
idd St Til to a, Merchant' Truat com
pany. Morris Bros., Mortgage Qurante
&. Truat company. Mutual Savings Bant
of Portland, National Truat & Invest
ment company. New England Truat com'
miiTlruan Investment A. Trtist' com-
W vjregon i rusi at, oavinga Dan,
land Realty A Trust company, Fort
Trust Company of Oregon. Secur
ity Savings A Trust company, Swiss-
American bank. Title Guarantee & Tr
com Deny Union Trust company. U.
Bond, Guarantee & Investment company,
Western Trust A Investment company.
Qreaham Flrat State bank; Bell wood
Bank of Sell wood; St. Johns Penln
aula bank.
Orowtn Xa Saving's.
It la aatlmated that tba aavlnga de
posits In Portland banka at tha preaent
time amounts to an aggregate between
$60,000,000 and teo.000,000. Theae funda
are the aavlngs of the middle classes,
and show the solid character of Oregon'a
prosperity, and the extraordinarily
equitable conditions that prevail among
the working people of Portland.
T. C. Miller, of. tha Pioneer Truat
company. St. Louie, la a Portland vis
itor, and la the gueat of A. T. Noble. He
la preparing -to depart on a Ashing and
hunting trip to Caacadia, a famoua re
gion In the vicinity of Hogg pasa over
the Cascade range. It la aald Mr. Mil
ler Is so favorably lmpreased with In
dustrial conditions In Oregon that he
will probably locate here or establish
a business to be managed from St. Louis
headquarters.
Another Vrw Bank.
Organization of the new National
Bank of Commerce haa been completed,
with the following officials: President,
W. H. Moore; first vice-president, E. E
Lytie; second vice-president. Jefferson
Myers; cashier, W. C. Morris; assist
ant cashier, J. II. Truby. This with
the exception of Jefferson Myers la the
tame official staff aa that of tha Ore
gon Savlnga A Trust company, which
concern the new bank absorbs. The
following directors have been added to
the national banking corporation: Jef
ferson Myera. A. H. Devers, H. Witten
berg. Ben Selling.
Owing to the additional time granted
to the architects and builders of th
Corbett office building the Security
Savlnga bank will probably not get into
us new nome at tne corner or Firth
and Morrison streets before tba first of
next January.
NEEDS
iLOUMi (US
o
location and Wheat Produc-
tion; Hake City Natural
for Milling Center.
"Portland ehould be at this time tba
Minneapolis of tha Paoifio ooaat whan
It cornea to flour milling," was the re
mark of big flour seller In Portland
tha other day.
. Portland needs more flouring mills
and. the need la Increasing every day.
Tha need 1a the result of tha much in
creased oriental demand for flour dur
ing tha past two years. Tha coastwise
trade that depends upon Portland to
aupply lta flour wanta la several times
aa great aa the preaent milling ca
pacity of thla city.
Portland practically stands on tha
edge of a Seotlon of tha country that
producea mora than 60,000,000 buahela
of wheat annually and will In all prob
ability produce aomethlng Ilka 60,000,
000 bushels during the present saaaon.
Practically three quarters of thla wheat
would coma to Portland If there were
more flour mills hare to warrant such
a movement In thla direction.
The ffTftatar tha number of mills in
Portland tha greater tha flour trade tha
city would command. At preaent Port
land ta the home of the largeat and best
flour mill on the Pacino coast the
local nlant of the Portland Flouring
Mills company with a capacity of 4,(00
barrels or 18,000 (0-pound aacka every
14 hours. Trua mm la tne moat Bene
factor on tha Pacino ooaat, but mora
mills of large capacity are needed be
fore Portland takes lta rightful place
aa a producer of flour.
Had this city tha sufficient facilities
It la quite likely that a larger per cent
or tne wneat annually anippea tnrougn
Portland to EuroDean norta would be
converted Into flour here; thua afford
ing that much additional employment to
local worklngmen. It la generally
agreed that Portland-made flour la
much more aatlafactory to the Euro-
ean trade than Is the flour made on
he other aide of the Atlantic The
mills there 4hlend a great many varieties
of wheat together in order to get a suf
ficient amount of flour of one Quality
and the reault If that generally the qual
ity la not aa gooa as couia be proaucea
here.
Portland now has three flourlne mills.
but that number could be trebled with
out In any way overcrowding the .field.
Two of the mills while nroduetnsr an
excellent quality of flour are of small
capacity ana cannot make much head
way In foreign markets.
Tne location or Portland as a mining
renter couia scarcely be more ravprable.
Being at the edge of the greatest wheat
country in the world where the wheat
crop has never been known to show a
failure the railroads and steamboats
can bring the grain to the grinders at
a nominal expense. Located on deep
water as it is shipments can be made at
little expense to any part of the world.
a majority of auoh purchases are mada
by former resldonts of Eastern Oregon
or the Willamette valley. This latter
claaa repreaenta men who have been
successful In agriculture, or stock rais
ing and who are now bringing their
families to Portland to take advantage
of tha eoellent, school facilities af
forded. - '" ' "
Real aetata agents and operators are
all looking forward to heavy business
during tha coming fall months. The
market has held up so much better this
summer than was expeoted that the
promt so of a splendid activity through
out the remainder of tha year seems
assured.. One of tha old established
agencies-that has a large clientele
throughout tha atata Is In receipt of nu
merous Inoulrles from" different parts
of the state relative to prospective In
vestments In Portland realty.
In tha eastern part Of tha etate. the
wheat crop was never mora promising,
and tha aame oondlttona exlat with
reference to tha crop proapecta In other
sections of the state. Tha reault of all
this prosperity Is that hundreds of Ore-
?on farmers and etock raisers will this
all Invest a portion of their surplus
wealth In Portland property.
It la not generally Known mat muon
valuable property In this city, la owned
great a em oi
Ig wheat fleVs
the Willamette
by Oregon farmers. A great deal of
tha earnings from the Dig wneat rievs
of Knatorn Oreeon and
valley have gone Into realty Invest
ments In this olty. Mora then one Wil
lamette valley rancher haa bad hla
wealth Increased by six flgurea, because
of the recent rlaa In values In Port
land real estate.
Doan'a Regulate euro constipation,
tone tha stomach, atlraulate the liver,
promote digestion and appetite and
eaay paaaagea of tha bowels. Ask your
drugglat for them. 15 oants a box.
Unlike Minneapolis it doea not have to
roads in order to get to tidewater and
pay a heavy freight rate to the rail-
r.inufv nrriANn
in u ii li uuiinnu
EXCEEDS SUPPLY
Volume of Business Through
Portland Banks Con
tinues to Increase.
Increased volume of business through
the banks of Portland contlnuea, and al
though the demand for money exceeda
the supply tha tone is healthy and de
void of boom speculative elements.
The banka ara unusually conaervatlve tn
loans thla month, owing to the atrong
demand for money to move tha wheat
crop, tjouniry Danxs tne,t rurnish a
large ahare of thla money ara drawing
on their Portland reserves and asking
for advances. As a reault Portland
banka are withholding new loans and
are taking care only of their regular
customers.
Th wheat crop of the northwest will
exceed previous estimates. Like the
farmera of Poverty Flat, the inland em-
rlre agriculturist always bobs up In
he spring with a failure of the crops,
but In the fall he turns off a larger crop
tHan that of the preceding fall, and sel
dom faila to break all records. Thla
fall tha wheat crop of the Willamette
valley, eastern Oregon and Washington
and western Idaho will reach 62,000,000
bushels, and the farmera of these sec
tions will receive for it In the neigh
borhood of 145,000,000.
a. Loana are still available for home
sajjiiidlng, but are usually made on a
ba-Jiejaor bo per cent of the value of the
ground" ana ouuaing, so that the man
who owns a $1,000 lot and wanta to
build a ' house can borrow only an
amount equal to the market value of
the lot. In other cities loana are made
on tne same oaais, out on a verymuch
larger proportionate valuation of the
lot.
In Seattle the ground valuations Of
residence lots in outlying suburbs are
boosted up to a point where the owner
could until recently borrow twice over
the amount allowed on similar locations
in rortiana lor ouuaing purposes.
In the last few weeks the bottom haa
been dropping out of Seattle realty val
uations, and there la walling in the
camps of the real estate boomers who
have pusnea speculation oeyond reason
able limits.
ship In ocean veasels to Europe, Asia
or Afrloa.
It la an admitted fact even by the
millers of Puget sound that the best
wheat in the Pacific northwest or in
fact on the Pacific coast grows tribu
tary to the Portland market, and this
grain can be secured by, the milling
iraae or tnis city at a less expense than
by the millers of the north. This Is
brought about by the fact that the ter
ritory aerved by the O. R. A N. has the
best wheat producing soli and to get
thla wheat the millers of the aound
must pay an additional freight rate.
Another thing that tends to make
Portland the place to locate the mills
of the west la the great distributive ter
ritory of this city. All the by-products
of the wheat and other grains can
easily be disposed of at advantageous
prices because to this city there al
ways comes a call for mlllstuffs from
the California cities as well aa from
those of Oregon that cannot always be
met so great Is the demand.
In the Willamette valley there grows
the best wheat for cracker-making that
can bo produced anywhere in the world.
This valley product Is In so great a de
mand that but a quarter of the orders
are generally nnea. ror yeara Willam
ette valley wheat held first place In
the Liverpool market for all soft va
rietiea but of late yeara with the de
creased acreage, due to fruit culture,
and the immense demand for this wheat
and flour from the east aa wn mi.
own locality, no ahlpments of import
ance ara made to Europe.
LARGEST YIELD
III MORROW CO.
FOR THE
MAN
Who is anxious to get ahead
in life, a
Savings Account
Is the lever that will move
the world.
THE
OldcstTrnst Company in Oregon"
With Reaourcet of Over
$2,200,000.00
Offers you a safe depository
WE PAY
2 Per cent on check ac
counts. 2 Per cent on ten days'
call.
3 Per cent on saving ac
counts and on six months'
certificates.
3J Per cent on thirty days'
call.
4: Per cent on ninety days'
call, on twelve months' cer
tificates and on coupon certificates.
Call for Statement and Book of
"ILLUSTRATIONS"
Portland Trust Company of Oregon
S. E. Corner Third and Oak Sta.
Phone Exchange 72.
BENJ. I. COHEN President
H. L PITTOCK. . .Vice-President
B. LEE PAGET Secretary
J. O. OOLTRA Asst. Secretary
SAVINGS BANKl
OF THE
"An
East Side Bank for
Side People."
East
iasK
r
Where Has My Money
Gone is the ?
That almost every salaried per
son who has not a systematic
method of saving asks at tha end
of the month.
Make a Contract
With Yourself
And AGREE to put something
into a
Savings Bank Account
Each Month.
ran
Commercial Savings Bank
OTT XU WlXT.TsiMl ATX.
.,4. vnni' rtntrtna tr II AA,
AnAn vmif rnnnr TntaMsr
Will vywu vea wv w Aiswavo
4 per cent, compounded - semiannually.
George W. Bates....... President
J. S. Birrel. ........ . . . . -.Cashier
Henry Blackmail Says Over
2,000,000 Bushels Will
Be Sold This Year.
uenry juiacKman, who Has just re
turned from Heppner, Oregon, where
he is largely Interested, says that Mor
row county will sell this year over
2,000,000 buahels of wheat, barley, rye
and oats, which will bring not less than
$1,600,000. .
"This county has already aold this
year about 85,000 head of sheep at an
average price of 8," said Mr. Blackman.
"Recently 8.000,000 pounda of wool was
sold at Heppner at an average price of
1 centa a pound. In addition the peo
ple of that county will aell horses, cat
tle and hay to the value of not loan
than $500,000.
"Morrow county has about 6,000 popu-
l?,?:!?1 w,u mblP 'h8 year about
$8,000,000 worth of farm producta. Thla
is equal to $600 for each man, woman
and child In the county. I. don't be
lieve there ia another county in the
atate that will beat this record.
"The people throughout eastern Ore
gon are unusually prosperous. I never
saw so much money in tha country, and
everybody seems to have a share of it "
HEALTHY TONE
OF REfltJSTATE
Indications All Point to Pro
longed Season of Legiti
mate Trading.
Portland's realty market, while not
characterised by the feverish activity of
six months ago, Is In a healthy and
satisfactory condition, indicating a pro
longed season of legitimate trading in
all classes and charactera of real prop
erty. : , ,
Ths steady inflow of foreign capital
for investment in Portland is greater
now than at. an V tlm In tha hlatnrv
of tha city. Scarcely a day passes that
ths announcement is net mada of a
considerable nurehaae bv an nntiliia
capitalist. Out of - the two or three
scores or residences or residence sites
sold every dav In Portland, a. fii ma.
TITLE GUARANTEE
& TRUST CO.
OPEN ON SATURDAYS FROM
9 AM. TO 1 P. M.
AND ON SATURDAY EVENINGS
FROM 6 TO I O'CLOCK.
7
WE PAY 4 INTEREST
On Savings Accounts, Intereat Com
pounded Beml-Annually.
WE PAY 3 ON DAILY
Balancea of Check Accounts.
OFFICERS:
J. THORBURN ROSS - - President
GEORGE H. HILL - Vice-President
T. T. BURKHART - - Treasurer
JNO. E. AITCHISON - - Secretary
240-244 Washington Strctt
(Corner Second)
PORTLAND, OREGON
'UDIOIAIj and" Contract ; Bonds innst
havo sound backing. . 1 Those Issued by
the Union Guarantee Association of
Portland, hare the support of twenty
two of Portland V well-known business
men whose high standing is unquestioned
and upon whose reputation depends
the high character of this Association. Plate Glass,
Steam Boiler, Liability and Accident Insurance;
Indemnity Bonds.
UNION GUARANTEE ASSOCIATION
MAEQUAM BUILDING, POETLAND, OEEGON
v .1-1:
52 New Accounts
IN ONE, DAY
GIVES gome idea of the growth
of our institution, and that
wat t&4 itory for last Satur
day, which mea that the public
appreciates the fact that our pro
gressive bank la conducted on con
servative, safe aid strictly busi
ness lines. Our resources are over
$2,600,000 and we pay 4 per cent
interest on savings accounts.
Oregon Trust and Savings Bank
Sixth and Washington Sts., Portland, Or.
W. H. MOORE, President. E. E. LYTLE, Vice-Pres.
W. COOPER MORRIS. Cashier.
f fi- .?.-; n ,i
' '.V'v V'Vi''-,'V- S
1 P DaVi
m AmiA O
mm m m m m s s ;
GUARANTEED
0
ON YOUR PURCHASES
NO WORRY
Can You Do Better
and
BE SECURED?
YOU CAN
Open a Savings Account with us and real
ize 4 per cent interest on your money.
Deposit your idle money with us subject
to return when wanted and realize from 2 to
4 per cent interest on it meantime.
Open a check account with us and receive
such accommodations as the state of the ac
count will warrant.
Avail yourself of our complete facilities
offered in our Commercial Banking Depart
ment. Have any legitimate trust matter prop
erly and economically handled.
The corporate body is for many reasons
the superior trustee.
Send for our new pamphlet setting forth
the various functions of our Company.
Merchants Savings and
Trust Company
247 WASHINGTON STREET
CAPITAL FULLY PAID $150,000
J. Frank Watson President
R. L. Durham Vice-President
W. H. Fear Secretary
S. C. Catching Assistant Secretary
O. W. T. Muellhaupt.... Cashier
An investment offered of which
every one should hold part.
Take your savings that
brings you 4 per cent and place
it where it brings equivalent to
20 per cent.
Achesoo
Company Stock
Bankers and Lumbermens Bank
Second mnd Stark Streets,' Portland, Oretfoa
CAPITAL STOCK . . $250,000
OFFICERS
f O. K. WENTWORTH, President
F. H. ROTHCHILD, First Vice-President.
JOHN A. KEATINO, Second Vice-President and Cashier.
H. D. STORY, Assistant Cashier.
PLATT ft PLATT, Oenerml Counsel.
DIRECTORS
O. TL WENTWORTH, President
prasMevt Psrtlaad Xsabs Os,
CHARLES S. RUSSELL
Dant A RnseeU, Lumbar
Director Comniarctal Bank, Hlilsboro, Orsfon
P. 8. BRUMBY
Aa-ent Blodfstt Co., Ltd.
Director Booth-KeMr Lorn bar Co.
DR. K. A. J, MACKENZIE
Chief ttarfo the Orecoa Railroad At
Navigation C ;
OEOROE O. BINGHAM'
s v : . Attorner. Salem, Orsfon
Vioe-rreeldant Bank of Woedbvn,
Woodbom, Orafoa
LLOYD J, WENTWORTH
Vlca-Praeldaot ParUaad lMmH Oo
J. E. WHEELER
Sac rotary Wheeler Timber Oft
FRED H. ROTHCHILD. First Vlct-Presldenf
President Rothohtld Bros.
JOHN A. KEATINO, Second VktvPnaisfent
and Cashier
ROBERT T. PLATT
PUtt A PUtt Attorosre
VtoarPraaidant Psnlarak Bank.
St Johns, Oreaeav.
H. a STORY, Aeeiets CtahUr
Is sold for two purposesto in
crease their business from
$350,000 a year to $500,000, and
to install the Grocery Depart
ment in their new building.
Call at The Acheson Com
pany's Store. See for yourself
its completeness. See Mr.
Acheson and you will certain
ly inyest. You may subscribe
for all the shares you desire
and pay for them in install
ments. Don't neglect this op
portunity. For iriformation
call at the company's store op
posite Meier & Frank's on
Fifth street, or at the office of
WHYlf EM'S
TJ''.''V".' ' "''"''?.
7 CHAMBER OF COMMERCE
V'-iTfi :
. .CC -. : -. if fc J v.,'-'.''-"; .
portion of them go to new arrivals, some
:' aV
oz waom come Xrom eastern autes. but