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About The Oregon daily journal. (Portland, Or.) 1902-1972 | View This Issue
THE ORLCOU DAILY JOUTvIIAU. PORTLAND, WEDNESDAY EVENING. 'AUGUST 7. IZ7.
Local Financial Institutions
Keeping Pace With Gen
' Growth of tha banking buslnsss In
Portland la eource of surprise to
easterners and pride to Oraroo people.
The banks of thla cltr and etete ara
keepln paca with tha general develop
ment of tba oountry. Bank Examiner
Btaat haa just, compiled a Ust. of' all
tha financial Institutions In Multnomah
eounty, Tha total number la 17. aa fol
Portland Ashlsy Bumelln, Amerl
Can Bank A Trust company,. Bank Of
America. Bank of California, Banker
Lumbermen' bank. Bates, George W,
ex v.o- uanaaian rana u vuihhiwiww. vv
Isena bank. Commercial Savings bank.
Kt KM. bank. French bank. German
American bank, Harvey O'Bryan Invest
ment k Trust oompany, niDemia dsv
lns bank. Home Security .A Invest
ment company,- Italian-American bank,
Ladd A TUton. Merchants Trust com
rny,' Morris Bros.. M or tragi Guarantee
Trust company. Mutual Savings Bank
of Portland, National Trust dc Invest
ment company. New England Trust com-
panyregon investment t Trust com-
(jregon Trust A. savings Dana,
land Kealty Trust compsny, fort
Trust Comuany of Oreaon. Secur
ity Savings ft Trust company, Swiss-
' American bank. Title Guarantee Trust
oompany. Union Trust, oompany, U, 8.
.' Bond, Guarantee A Investment company,
. . 'Western Trust A Investment company.
Gresham First State bank: Bell wood
. Bank of Sell wood; St. Johns Penln-
eme panic .... . . , .
: Orowth In Savings. - , T 5
". " It la' aetlmated that tha aavlnga da
' posits In Portland banks at tha present
time amounts to an aggregate between
,160,000.000 and f (0.000,000. These funda
' ara tha aavlnga of the middle classes,
, and ahowtha solid character of Oregon's
prosperity, and tha - extraordinarily
equitable conditions that prevail among
the working people of Portland.
F. C Miller, of- tha Pioneer Trust
oompany, 8U Louis, Is a Portland vis
itor, and la tha guest of A. T. Noble. Ha
. ia preparing o depart on a fishing and
hunting trip to Cases die. a famous re
gion in the vicinity of Hogg pass over
tha Cascade range. It la aald Mr. Mil
ler ia ao favorably impreesed with in
dustrial conditions In Oregon that ha
will probably locate here or establish
a business to be managed from BU Louis
headquarters. , - ,-..,.,.
Another -Tew Bank.
Organisation of ' tha new National
Bank of Commerce has been completed,
' with the following officials: President,
. W. H. Moore; first vioe-presldent, E. E.
, Lytle; second vioe-presldent, Jefferson
. Myers; caabler, W. C. Morris; assist
ant cashier, J". H. Truby. Thla with
tha exception of Jefferson. Myers 1a the
- same official staff aa that of tha Ore
gon Savings V Trust oompany, which
'Concern the new bank absorbs.- The
following directors, have been added to
the national banking corporation: Jet
, ferson Myera. A. H. Devera, H. Wltten
i berg. Ben Selling.
Owing to tha additional time granted
to the architects and builders of th'a
Corbet t office building tba (Security I
Savlnge bank will probably not get Into
its new home at the corner of Fifth
and Morrison streets before the first of
nui January. '
I - '
Volume of Business Through
Portland Banks , Con
- tinues to Increase.
Increased volume of business through
the banks of Portland continues, and al
though tha demand for money exceeds
tha supply tha tone la healthy and de
void of boom speculative elements.
Tha banks ars unusually eonaervatlve in
loans thla month, owing to the strong
demand for money to move tha wheat
crop. Country banks' that furnish a
large share or thla money ara drawing
on uimr roruua reserves ana asking
for advances. As a result Portland
banks ara withholding new loans and
are taking care only of their regular
Tho wheat crop of tha northwest will
exoeea previous estimates. Like tba
farmera of Poverty Flat, tha Inland em
pire agriculturist always bobs up In
tha spring with a failure of the crops,
but In the fall he turns off a larger crop
titan that of tha preceding fall, and sel
dom falls to break all records.. This
fall tha wheat crop of the Willamette
valley, eastern Oregon and Washington
and wsstern Idaho will reach 12,000,000
bushels, and tha farmera of theae see-
none win receive Tor it in tba neigh-
iiviauua vi eie,vvu,uvv, .
ioans . are sua available for home
vnina. nut are usuallv mart nn
oaiwsu so per cent or the value of tha
groundand building, ao that the man
who owna a 11,000 lot and wanta to
build a' house can borrow only an
amount equal to tha market value of
m wfc in outer cities loana ara made
ton tha same basis, but on a very 'much
larger proportionate valuation of the
In Seattle tha ground valuations 6f
reeiaenoe juie ia ouiiying suDurbs are
boosted up to a point where the owner
could until recently borrow twloe over
tha amount allowed on similar locations
In Portland for building purposes.
In the last few weeks the bottom has
been dropping out of Seattle realty val
nations, and there Is walling In tha
campa of tha real estate boomers who
nave pummU iwuugn oeyona reason
able limits. .
."Aa' East Bide Bank for Zaet
r Where Has My Money
' Gone is the?
That almoet every salaried per
son who hss not a systematic
method of savins; aska at tha and
of the month. -
Make a Contract
And AQREB to put eomethlng
Into a . .
Each Month. '
Commcrcial Savings Bank
I nOTT AJT9 WXLUAJU ATM.
vltea ' your patron age. 11. BO
111 open your account. Interest
4 ear cent, compounded semi
George W. Bates....... President
J..B. Bh-rel...... .Cashier
Location and Wheat Produc
tion Hake City Natural
' TSite for Milling Center.
' "Portland should be at this time tha
Mlnneapolla of tha Paoifle coast when
It comes to flour milling,' waa tha re
mark of a big flour seller In Portland
tha other day, .
Portland needs mora flouring mills
and tba need la Increasing every day.
The need Is the result of tha much In
creased oriental demand for flour dur
ing the past two years. The coastwise
trade that depends upon Portland to
supply Its flour wanta Is several times
aa great as tha present milling ' ca
Daclty of this city.
. Portland practically stands on tha
sdge of a seotion of the country that
produces more than 80.000,000 bushels
of wheat annually and will In all prob
ability produce something like 40,000,
000 bushels durlna- the Dresent ssason.
Practically three quartere of this wheat
wouia come to f ortiana n mere were
more flour mllle here to warrant such
a movement in this direction.
' The greater the number of mill -In
Portland the greater the flour trade the
city would command. At present Port
land la the noma of the largest and beet
flour, mill on tha Pad no ooaet the
local plant of the ' Portland , Flouring
Mills oompany with a oapaolty of 4,609
barrels or 18,000 60-pound sacks every
14 hours. This mill Is tha most satis
factory on tha Paclflo coast, but mora
mills of large capacity are needed be
fore Portland -takee Its rightful place
as a produoer of flour.
Had thla city the aufficlent facilities
It is quite likely that a larger per cent
of tha wheat annually ahlpped through
Portland to European porta would be
converted into flour here; thua afford
ing that much additional employment to
local worklngmen. It Is generally
agreed that Portland-made flour ia
much mora aatlafactory to tha Euro-
?ean trade than If the flour made on
he other slds of - the Atlantic The
mills there ealend a great many varieties
of wheat together In order to get a suf
ficient amount of flour of one ouallty
and the result if that generally the qual
ity ia not as gooa as oouia pa proauoea
here, . -
Portland now lias three flouHnr mills.
but that number could be trebled with
out In any way overcrowding the .field.
Two of tha mills while producing an
excellent quality of flour are of small
capacity and cannot make much head
way In foreign marketa.
- The location of Portland as a milling
center could scarcely be more favorable.
Belnar at tha eda-e of tha areataat wheat
country In the world where tha wheat
crop has never been known to ahow a
failure tba 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 ta any part of tha world.
Unlike Mlnneapolla It doea not have to
pay a heavy freight rate to the rail.
roada In order to get to tidewater and
ahip In ocean veaeela to Europe. Asia
or Africa. , . .
It la an admitted fact even by tha
millers of Puget sound that tha best
wheat In the Paclflo northwest or In
fact on tha Paclflo coast grows tribu
tary to tha Portland market, and this
grain can be secured byi tha milling
iraae oi cms city at a less expense than
by the millers of the north. Thla la
brought about by the fact that the ter
ritory aerved by the O. R. & N. haa tha
best wheat producing aoll and to get
tbla wheat the millers of tha eound
must pay an additional freight rate.
Another thing that tenda . to make
Portland tha place to locate the mills
of the west Is tha great distributive ter
ritory of this -city. All the by-products
of tha wheat and other grains - can
eaally be disposed 'of at advantageous
prices because to thla city there al
ways comes a call for millstuffs from
tha California cities aa wall aa frnm
those of Oregon that cannot always be
ujd mir grrtnii aa (n9 aemana.
In the Willamette valley there grows
the best wheat for cracker-making that
can bo produced anywhere In the World.
Thla valley product Is In so great a de
mand that but a quarter of the orders
are generally filled. For yeara Willam
ette valley wheat held Bret place in
tha Liverpool market for all soft va
rieties but of late yeara with the de
creased aoraaga, due to fruit culture,
and tha immense demand for thta wheat
and flour from the eaet aa well aa our
wn locaucy, no snipmenta of Import
anoe are made to Europe. ,
a malorlty of such purchases are made
by former r-lilnta of tmurn Oregon
or the Willamette valley. Thla latter
class rf:reents men who have been
aucuesaful In agriculture or stock rale
Ing and who are now bringing their
families to Portland to take advantage
of the excellent school facilities af
forded. Heal eetate sgtnts and operators are
all looking forward to a heavy business
during the coming fall months. Tha
market has held up so much better this
summer than was ex;wnted that the
promise of a splendid activity through
out ths remainder of the yeer eeems
assured. One of the old estsbllahed
agencies that haa a large clientele
throughout the state la In receipt of nu
merous lnaulrlee from different parta
of the atate relative to prospective In
vestments In Portland realty.
In the eastern part of the ststs. tha
wheat crop was never mora promising,
snd the eame conditions exist with
reference to the crop proepects In other
sections of the state. The result of all
thla proaperlty la that hundreds of Ore-
Jon farmera and stock raisers will this
all Invest a portion of their surplus
wealth In Portland property.
It Is not generally known that muoh
valuable nroDertv In thla city. Is owned
by Oregon farmers. A great deal of
tha earnings from tha big wheat fleVs
of Knstorn Oregon and the Willamette
valley have gone into realty Invest
ments In this city. Mora thaa ona Wll
lamette - valley rancher haa had his
wealth Increaeed by elx figures, because
or tne recent rise in vaiuea ia Port
land real eatata. - . - ; -
Coen'a Regulate cure eonstlpatlon,
tone tha stomach, stimulate the liver,
promote digestion and appetite : and
easy passages of ths bowels. Ask your
druggist for them. It cents a box.
; FOR THE
Who is anxious to get ahead
.. ; in life, a " '. - r.
Is the lever "that will move
the world. ,
" - THE . :
"Oldest Trust Company I q Oregon"
With Resources of Over .
Offers you a safe depository '
2 Per. cent on check ac-
2 Per cent on ten days
calL -. . '
3 Per cent on savings ac
counts and on six months'
3J Per cent on thirty days'
:call. ; - .
4 Per cent on ninety days'
call, on twelve months' cerv-
. tificates and on coupon cer-
Call for Statement and Book of
Portland Trust Company of Oregon
yrUPIOIAL and Contract Bonds must
havo sound backing. Ihose issued by
the Union Guarantee Association of
Portland, have the support of twenty
two of Portland's well-known business
men whose high standing is unquestioned
and nnon whose reputation depends
the high character of this Association. Plate Glass,
Steam Boiler, Liability and Accident Insurance;
Indemnity Bonds.- ,
UNION GUARANTEE ASSOCIATION
MAEQUAM BUILDING, PORTLAND, OREGON
52 New Accounts
IN ONE DAY
GIVES some Idea of the growth
of our Institution, and. that
was the story for last Satnr
. day, which means that the public
appreciates the fact that our pro
gressive bank is conducted on con
servative, safe and : strictly busi
ness lines. Our resources ara over
$3,600,000 and we pay 4 per cent
interest on savinfs accounts.
Oregon Trust and Savings Bank
Sixth and Washington St Portland, Or. I
W. H. MOORE, President. E. E. LYTLE, Vice-Pres.
. W. COOPER MORRIS. Cashier.
ON YOUR PURCHASES
Can You Do
8. B. Corner Third and Oak Bts.
, Fnons. Exchange 71.
BEN J. I. COHEN. .....Prssldsnt
H. U PITTOCK... Vice-President '
B. LEK PAGET ........ Sscrstary
J. O. OOLTRA....Asst. Becrslary
Henry Blackman Says 0?er
2,000,000 Bushels Will
Be Sold This Year.
Henry Blackman, who,,- hss just re-
turned from Heppner, Oregon, where
be Is largely Interested, says that Mor
row county wm nil this year ever
Z. 900.000 bushels of whsst. harlsv. rva
SPl.01! wnlon w11 brtng not less than
"This county has already sold this
year about 11,000 hsad of sheep at an
averace price of 18," said Mr. Blackman.
"Recently 1,000,000 pounds ef wool wss
sold at Heppner at an average price of
It CeatS a COUnd. In addition fh nan.
pie of that county will sell horses, cau
Morrow county haa about 1,000 popu
lation and will shin this year about
11,000.000 worth i of farm products. This
""w.'ti0. "22 f0 ach mani woman
and ohlld. In the county. I. don't be
lieve there ie another county In the
state that will beat thla record.
"The people throughout eastern Ore
gon are unusually prosperous. I never
saw SO much monev lit ih. n.t
everybody seems to have a share oi It."
OF REAL ESTATE
v '.. -.'.,...;, ....
Indications All Point to Pro-
longed Season of Legiti-
, r mate Trading.
. . . . a
characterised by the feverish eotlvlty of
els months ego, le In a healthy and
satisfactory condition. Indicating a pro-
' - ..w...,a
all classes and characters of real prop-
Artr - '
The etesfly Inflow of forelrn capital
for Investment In Portland Is frrttar
now than at in llm. I. K .
of ths city, fenarcely a day pasnes that
ths announcement Is not tnads of a
Analflwrallw .Hmk... K -
' v.w ,'......WBW MJ ,I inil.lUI
capitalist. Out of -ths two or three
scores or reaidences or residence sites
,,B w ri i f. nn, a, iair pro-
turiH t naw arrivals, some I
el whom come iioxa eastern etatee, but 1
a TRUST CO.
OPKN ON 8ATTJRDAT8 FROM
AND ON 8ATTJRDAT EVENING 8
FROM I TO S O'CLOCK.
WE PAY 4.0fo INTEREST
On Savlnge ' Accounts, Interest Com-
. ' . .. . ..
WE PAY 3 ON DAILY
- ' Balances of Check Aoeounts.
4 OFFICERS: -J.
THORBURN ROS8 - - President
GEORGE H. HIIX - - . Vice-President
T. ' T. , BURKHART - - Treasurer
JNO. B. AITCHISON BeereUry
'.'(, ' -. 1 ', ' ' '- - ;
240-244 Wuhlnslon Strett
- 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 bur complete facilities
, offered in our Commercial Banking Depart
ment. ,'t " " ' '..'.-.. . .-."
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. ,
47 WASHINGTON STREET
CAPITAL FULLY PAID. . . . . . .$150,000
i ..... : - -.
J. Frank Watson ..............President ,
R. L. Durham. . . . . . . . ... ......... .Vice-President
W. H. Fear. . . . ,. . . .... . ....... . . ... . . .Secretary
S. C. Catching......... AssisUnt SecreUry.
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", 7 : 1 V;
Banlters and Lumbermens Bank
' - Csraeir SemmJ mmJ Stark Streets, Portlaact, Oretfoa ' - ,
CAPIXAL STOCK . . $250,000
;.v..;. ..: ; :. ' .:-... - ,,v . ... . v, v
. OFFICERB '. V
O. K. WEMTWORTH, Preeklent. '
" t F. M. SOTHCHILD. Flrat Ylee-PiWdeot. . - . '
JOHN A. KSATINO, Seoa4 VeePneldcat snd Caehitr. ' '
H. D. STORY, Aeeistent Ctahier.
PLATT PLATT, Oemral CoonaeL
Q. r. WEJrrWORTH, Preeident.
, Freestsat PerUaod Umber Oe.
CHARLES S. RUSSELL
Pant A Rnesell, Lumber - 1 '
'. Director Conunsrolal ank, RLUebore, Oregoa
P. 8. BRUMBY : ' '
. ' A rent Blodgtt Co., Ltd.
... jjlrector Booth-Kelly lArabe Ce.. -
DR.. K. A. JL MACKENZIE '
Chief anrrsoei the Oreiee) RaHreasl A..,,
' I Navigation Ce. ,
OEOROE O. BINGHAM "
Attorney. Salen, Oresna '
Vloe-Tesldent lWik mt WoodVma, ,
Weodnora, Oreoa -
LLOTD J. WENTWORTH
VteePreat4ent Pertlaeal tstmW Os,
1. B. WHEELER "
Secretary Wheeler Timber Oe.
FRED H. ROTH CHILD, Prret VW-Preeiient
rreeldeat KethehUS Bree.
JOHN A. ' KSATINO. Second .V1cePiWefent '
' and Caahier
ROBERT T. PLATT
PUtt a Matt A no-neve .
Vtoe-rrMldent PenlneU Bank,
t. Johns, Oresjoe.
H. D. 8TORT,
Is sold for two purposes to 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 invest. You may subscribe
for all the shares you desire
and pay for them in install-.
ments. Don't neglect this op- '
portunity. For information
call at the company's store, op
posite Meier & Frank's on
Fifth street, or at the office of
7 CHAMBER OF COMMERCE
I'1JULUL".1I1 . .... -m - .X