CFTY S BATIKS SHOW
BIGGER BUSINESS
FOR CURRETJT YEAR
Peposlts in 23 Institutions In
" crease $6,168,643 j - Aggre
gate Capitalization Larger,
Business condition In Portland, u
reflected to statements of the 2J.benk
latr Institutions of. the . city, show
marked improvement daring the past
year. J Comparison of tb of f icial bankf
statement issued . September 16, 1922.
with the - statement of September . ,
,1921, shows a. decrease of $1 205.479 Is
surplus and wndivlded profits, ' a de,
orease Of J6.669.82J in loans and , dis
oounts. an Increase of $6,168,643 in de
posits and an increase of 94.672.S49 in
eash and exchange. This wourd lndfc
cate that the banks are discharging
their obligations, that credit conditions
ara' eonsiderablvjinproved and that
the patrons of the banks are transact
tng a larger volume of business than '
last year and have accumulated .- a
urplna
. Capitalization of the banks shows
a net Increase of 9650,000 the North
western National bank having- in
creased its paid up capital from $1,000,-
000 to 9X000,000 and three banks with
an aggregate capitalization of $350,000
being eliminated from the list.- 'The
three in timing banks are the Bank of
Commerce of St. Johns which was
amalgamated with the Peninsula Na
tional bank and the Peoples bank and
6tate Bank of Portland, which were
merged and which suspended opera
tions in February.
4AVECG3 rjTCBEASE
3 Savings deposits have shown , a
healthy increase during the year and
on of the older banks closed a suc
cessful campaign for new accounts at
the end of the year with an increase of
Boors than 1000 new depositors.
Statements of the Federal Reserve
.bank indicate a decided falling off In
loans to member banks and a large
amount of surplus funds. Available
eash la the hands of the banks was still
'further increased at the close of the'
year, by the maturity of federal gov
ernment securities and. war - savings
j stamp certificates. A refunding issue
oX government securities absorbed a
'considerable volume of funds thus re-
1 leased, but in spite of this several
, hundred million dollars has been dis
tributed to banks, firms' and individu
als and now awaits reinvestment.
Organization f three Joint stock
land banks during the year was an iro
' portant development of the local finan
- cial field. The Oregon-Washington
. Joint Stock Land bank was organized
with Robert E.-6mith as-president, the
Pacific Coast Joint Stock Land iank
was organized by officials of the First
National bank, and the Portland Joint
Stock Land bank was promoted by' Dr.
C J. Smith and his associates. Bach
has a capitalization of $250,000 and
each is prepared to make - loans ag
gregating $3,760,000 to the farmers of
Oregon and Washington.
Loans handled by the Joint stock
land banks are amortized in 33 year
by annual payments amounting to 7
per cent of the principal amount of
the loan. Interest at the rata of (
per cant per annum Is charged on de
Tine
f.; -
ferred payments. Applications placed
for loans . have practically absorbed
the loaning power of the three- banks
and each has announced its intention
of Increasing its capitalisation to $500
000, ,
The Federal Land bank, through Its
Spokane branch, j has placed mill iocs
of dollars in loan to farmers of Ore
gon and i ether .Northwestern - states
during the year.-. . I : -
.While this financial 'aid to farmers
and livestock raiser enables them to
refund ; their obligations ; on easier
terms. It is viewed by well-informed
bankers -as but a temporary palliative
from : the . economlo Ills which. ; beset
these1 two- great Industries. The abil
ity to borrow money on easy terms can
be of small benefit to the farmer un
less he can find a ready market for his
products. , Tha domestic markets will
not suffice to absorb the annual ag
ricultural and livestock : output of the
country, and until conditions in Eu
ropean . countries become normal . the
Northwest - producer y doubtless win
work to a disadvantage ,
The Security Savings Trust com
pany, affiliated with the First Na
tional bank, announced recently an .in
crease In capital from 9250,000 to 9500.
000.-The company purchased, the prep
erty at the southeast corner of Sixth
and, -Stark, streets some months ago
and proposes) to erect a building cost
Ing $360,000 on the site. - The building
will adjoin that of the First National
bank: and will be similar in architec
tural design.
The "United States ! National , bank
proposes to begin bunding operations
during 1929 on the quarter block at
the northeast corner of Broadway and
Stark, streets, . now "occupied - by the
Elks temple. The Broadway bank,
which occupies the ground floor at
this location, will bo obliged to find
new Quarters during ! the year. The
Bank of California recently purchased
the property at the northeast corner of
Sixth, and Stark streets as a site for
a new bank and other Important
building changes are contemplated by
the banks of the cMy.
Suspension of the i State Bank of
Portland in February was the only
failure recorded among Portland bank
ing Institutions during the year. The
bank was not a member of the Port
land Clearing House association. 'It'
was capitalized at $300,000. Total re
sources of the bank amounted to
$2,795,000. Time and saving deposits
were $1,102,000 and demand deposits
$1,376,000. Assets of the bank are- in
process of liquidation.: Savings depos
itors have received a dividend of 40
per cent and commercial depositors
have received a payment of 20 per
cent. Cash on hand awaiting distri
bution amounts to more than $500,000.'
100,960,806,000
Feet of Fir Left
There are 100,960,806,000 'board feet
of rouglaa fir saw timber In the
national forests of district 0," embrac
ing the states of Oregon and Washing'
ton, according to estimates of the for-.
est -service, U. s. department or agri
culture. Other predominant species appearing-
In -the estimate are western
yellow pine, 33,l2Z,43,ooo board teet;
western hemlock 29,693.309,000 board
feet; Alpine species. 25.345,312,000
board feet, and cedar, 9,572,908,000
board feet.
MORE FIRE EQtnPKXITT '
Two new pumpers are to be pur
chased within the next few weeks for
the Portland fire department. An item
of $26,800 Is Included In the 1921 city
budget for this purpose.
DIRECTORS
A. D. CHARLTON
Northern Pacific Railway Company
R. V. JONES
President R. V, Jones & Co, ,
GEORGE H. KELLY
Whitmer Kelly Company
CHAUNCEY McCORJllCK
Vice-President Spaulding-Miaml Lumber. Company,
NATT McDOUGALL .
Secretary A. Gnthrie fr Con Inc R. R. Contractors
L. B. MENEFEE
President L. B. Menefee Lumber Company
PHIL. METSCHAN
President Imperial Hotel Company
EMERY OLMSTEAD ,
President The Northwestern National Bank
FREDERICK F. PITTOCK
Northwestern Fidelity Co,
O. L. PRICE
" Trustee H.L. Pit lock Estate
EDGAR H.-SENSENICH -
Vice-President The Northwestern National Bank
MARK SKINNER ! :' ; t
Vice-President The Northwestern National Bank
CHAS. K. SPAULDING ' :
President Spautding Logging Company .
G. .M. STANDIFER ;
President G. M. Standifer Construction Corporation
JAMES F. TWOHY i
Vice-President Padfio Car & Foundry Company
THE J01KAL IS1
FIRST III THE CITY
Paper - Is Quick to - Recognize
New Science as Agency of In-
struftion - and - Entertainment
The last year witnessed the amas
Inrrr andden advent of the new science
of radio into the newspaper and en
tertainment field and in Portland The
Journal was first to tales up and de
velop it. ' . -
It was little more fnan a year ago
that the subject of Installing a radio
news bulletin service was broached to
The Journal and It accepted the propo
sition offered by Joseph U Hallock and
Clifton H. Watson, two Oregon boys,
both .men of hljrh attainments in the
new science, to broadcast news of ex
traordinary moment, local news or gen
eral interest and for the benefit of those
people who live on farms or places
that have no delivery service a market
renort that would guide them in buy
ing and selling, and correctly pricing
commodities. - i - i .--
- A few weeks later, temporary ar
rangements were made with, the North
western Radio Manufacturing company,
of which Charles L Austin Is the head.
THE eheclc
' I book; with
i the rrd of
your receipts and
payments, , helps
you to keep your
account in order.'
The check on your
bank account
simplifies the
payment of your '
debts and affords
the best" . receipt.
Keep a
Bank
Account
The necessity of
keeping in hiding
and carrying on
the person large
sums in currency
with all attending
danger iB re
moved by having;
a bank account.
Safety, conven
ience and the de
mands of ; good
order have made
the check the
credit currency of
the nation.
, Co n centra te
. your income into
your Bank Ac
count, -
Hartman & Thompson
BANKERS
Chamber of Commerce Bldg.
In the Heart of Portland
.
WITH RADIO NB'S
-MeiT'iliiw
hi j :v ' v- V.'. ' - , -, 'V "'.
t . ' - : - t ,:.......'..,
to broadcast -a' comprehensive report
of something less than; a half hour's
duration.' This arrangement was made
necessary- by reason of the inability of
lialloeJc and Watson to secure their
broadcasting equipment. ,
EQCTPM3TT ARRTTES
This arrangement lasted for a month,
beginning February last. . until the
H alloc- 4k Watson equipment arrived.
Thenceforth every week day, with the
exception of two general holidays when
all news sources were quiet for a con
siderable time after publication of regu
lar afternoon editions, m. consistent re
port has gone forth. .
For the first t!m la Oregon ", The
Journal broadcast returns of the -primary
election in May and repeated the
achievement at the general election.
.' At first the attempts at rang were
modest in comparison to Utter accom
plishments. - .The first - reports were
transmitted as far as : Montana, Ne
vada, , and California, parts of -Washington
and Oregon. It was discovered
that close to home there were a num
ber of dead spots, such as the Columbia
river valley, the district between Puget
Sound and the Nebalem river and from
Pendleton southwesterly Jto Bend.
The engineering abilities of Hallock
St Watson - not alone broke down the
walla that barred The Journal's news
reports xrom tnese areas.- put gradu
ally during -the summer the range in
creased, until hundreds of stations- all
over California, Utah. Arizona. Texas
21
Oihli ts. $)jndMjnnA CfrriMiint
WO
I 1 I J LUV'l l-n r3 LJ assa - I If , ll J9ssTbbbb
. c; -A!.' UK
-iv:.. U jaafrX
Portland,
m saw si a
VOLUME OF PORTLAND'S
POSTAL- BUSINESS
1908 ,
1904..
1905,.
1908-
1907 .
1908 .
1909 .
1910 .
1911 V
1912 .
1913 W
1914 .
1915 .
$ 829,436.72
3T9.51J.70
47S.083.SS
640.805.47
C37.4t5.i9
680.813.96
778,853.78
925.164,52
1,004,428.71
H08.474.46
1.183,535.78
1.233.47L81
1,167,293.03
1.220,487.89
vlr327.7.70
1.6S9.95S.06
: 1,7 074 7 0.2 5
1.960.009. 96
2,062,608.49
9 w w -
If It a.
1UI
1918 . .
1919 . .
1920 . .
1921 , .
1922
.2,300,OOO.QQ
Estimated..
and some of the Canartjao provinces
were included. . r
BAXGX IS EXTX?TDK"D . '
- Continued perfecting of ' apparatus
during the fall months has extended
the range all over the American conti
nnnnni
ii ...
a a ...j'Wt
Oregon r,
, ' Go with a dollar or more . to ? 1 . . t
the savings department of the
Hibcmia and- say, "I want to
open an account"
.. - .
CsssssYlsBSsssssl
ISSB t - ,
nent south of the 64th parallel, and In
the coast area instruments In the town
of Anchorage. Alaska, and westerly
as tar as the Midway islands have reg
istered the voice ox l-oruanae teaa
ing newspaper. --',-----.- ' -
The most remarkable feature of this
accomplishment is that it to done with
a set commonly known as a 6-watt
set. the- smallest that is weed for any
thing except .experimental work.
The antenna used la what Is known
as the short wave -antenna.. It is 175
feet long end at its higher end has an
altitnde ov 185 feet -and a clearance
over the nearest building of about 155
feet. It drops to a net clearance of
126 feet at ita lower end. -K r
The Journal ar d Hallock & Watson,
in order to facilitate the handling -of
news and suitable entertainment,
equipped The Journal auditorium with
necessary apparatus to permit broad-
castinav This is done by what is known
ma remote control, in other - words the
sounds produced in The- journar audi
torium are telephoned inte the broad
casting instruments of Hallock & Wat-
ton on Park street by a private wire.
Later the courtesy of using The
Journal - auditorium or concert pur
poses was extended Hallock A .Watson
by The Journal and echo destroying
draperies and a grand $ano were jtn
stalled. This was the first Portland
station to broadcast music, both vocal
and instrumental, as-well - as voice,
with cloe to perrect moooiauon.
About the same Xlme The Journal In
t
. . . ; ;-
B al Cm,Jr
angurated the most novel atunt in
radio broadcasting. This is the actual
transmission of the"sounda of ' Thi
Journal's great Canterbury chimes over
raom. To do this transmitters are
Disced in the tu!l tAWa a bvn
big bans, and wires are run to and
wucnwi onto tne wires leading to the
"un Kuon. Kaoh weekday-
even! nx ,. at and S o'clock and
Sandav . and WmIkuh.. .ut..
o clock the chimes are broadcast. Re-
pons w ine journal from persons whd
have heard the chimes-run into the
hundreds. All but one state west of
The best way to repay a
loan is pur" monthly in
stallment plan. Payments
to suit; convenience of
borrower. '
Equitable Savings &:
Loan Association ' N
301-303 STARK STREET
' (ESTABLISHED 1890)
INVEST3MENT
BONDS
.. LOCAL SECURITIES -
ROBEETSON & EWING
2Q7-8 Northwestern Bank.BId&r,
PORTLAND, ORE.
lllllllllHllHIIIHHlllfllHHHItlHlllHIIIHIIllll)HHtnnnnr
OFFICERS
President
.
Emery Olmstead
. y ice-Presidents
Mark Skinner
, Edgar H. SensenicH
Chas. H. .Stewart
- . K)IL Price
; ' 'Cashier '
Arthur C. Longshore
Asst. Cashiers
George W. Hoy t A 11 Fraley-
FrankO. Bate$ j W. R-Ringsretl
- 1 """Walter H. Brown . June S. Jones
r
the Mississippi river ha reported, s
eral east of there and several Can ad clt
.provinces. 4 The farthest east in pd u
of mileage is Chattanooga. Tens, f
- n . - Ms
BEETLES BKEED KAPIDLT
a
nvu M m i.f K. l
th
destroyed by insects are killed Jby gi
group of beetles known as bark beetta
Most of them are less than sin eigi
of an inch long, but they breed so pf'f
nflcally and mine out the living
sues of the trees so rapidly that tl! I
can; kill thrifty timber U a- sln b
season. s--. , -1 . an
nth
arj
sro
re
10'
a
r.
rs
-
1