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About The Oregon daily journal. (Portland, Or.) 1902-1972 | View Entire Issue (Dec. 31, 1922)
OHEGQX SU:nAY JOURNAL, POHTLAID, SUNDAY HORNING, DECHZIEEIl 31, 1C22. BJWIGSTATUS ilFUR! as one of the stable and major Indus tries of the Pacific Northwest. . Aside from the lumber -industry, no other in dustry has enjoyed such extensive de velopment within a comparatively abort period, and Portland is easily the center of this industry of all the Pa cific coast states. f , - Portland's factories are modern and their facilities for large production are in continuous and successful aperation. Everything is favorable for its expan sion raw materials. Portland's su perior' distributive facilities and labor conditions. . Oregon's furniture production this year is close to the six million dollar mark. One factory here is the largest manufacturer of case goods ? west of (hand Rapids. One of the largest indi- vidua! orders for furniture placed in any factory was reoorded in one Port land industry- in the early part of this year. Plants producing a superior grade of upholstered furniture are making rapid : advancement., Several new concerns are entering the field. Shortly after the first of the year, a manufacturing plant will engage la the production of solid high grade furni ture, no , veneer work being handled Furniture, specialties,'" such as chairs and tables, and the development of the office desk tine within, the past two years,' have combined to confirm and assure Portland's position as the furni ture center off the Pacific coast. -' Comparison . of furniture manufactured- here with that manufactured elsewhere : conclusively demonstrates that the local manufacturer is alive to the needs ef the home furnisher. Infant Mortality Is. Lowest Here . Among all the large cities of th United States Portland stands lowest in infant mortality. The rate last year was 4S deaths of each 1000 births. San Francisco stood second with SI and Se attle third with Bt : Ttv wav of ex -TW STRUCTURES OF; 1922 FACTORIES ACM State's Output Valued Close to $6,000,000 in Present Year; . Conditions Are Ideal. , planation Portland Is noted for hav ing the purest milav supply and the purest water supply among the large cities of the nation. . . 1 SAYS BRAMWELL - ; .... . - . ' " Decided Improvement Is Found Over Early Part of 1922 or : Last of 1921, Says Official. v Victor .Furniture manufacture is recognised THE on SATISFACTORY itiv.-"'.-." - ; Mi i a - ..vwvif - , j 'V at i Sj v .. - . ' Salem, Dec. JO. While financial con dition generally are1 somewhat ' dis turbed as a result of foreign compli cations, the present status of the banking- - business. In Oregon , is satisfac tory, acordinp to Frank C BramweU, state superintendent of banks. i In some localities BramweU points ' out, the returns from the recent har vest have ' been disappointing, due to the inability to find an active market for the state's most substantial prod ucts, but these conditions have not impaired the ability of the banks to meet all consistent and necessary de mands. The state's industries-have ', been satisfactorily financed by local banks without the necessity of calling on outside capital to any substantial decree. Present conditions, he declares, show a decided improvement when com pared with the early part of 1922 or the latter part of the year 1921. with every indication of a substantial in crease in bank deposits. Summing up banking conditions in Oregon,! BramweU points out that the last year has witnessed a material liquidation of loans and discounts, an Increase in' investment in government and. municipal ' bonds, an increase in available reserves, an increase in de posits, a ' heavy - liquidation of ' obli gations and a decrease in overdrafts. Commenting on the. steady and sub stantial growth of the banking busi - aees in Oregon, BramweU points out that 10 years ago deposits of aU kinds in all Oregon banks aggregated only 1125.029.07 .15 a compared with $250, 999.483.20 at the time of the last re port this year, an increase of 100 per cent in the 10 year period. Time and , savings deposits which in 1912 aggre gated only 125,856.856.34 now amount to I80J43.631.15 or a gain of 212 per cent in the 10 year period. ; - The 'gradual liquidation of loans and discounts and of obligations repre senting borrowed money and ' the in vestment of deposit liabilities in liquid assets in the form of government and municipal securities is pointed to by BramweU as a healthy sign and a sure safeguard against unforeseen de pression. Investments in this class of securities at the time of the last report aggregated 855.944.704.33 as compared with 344.3J6.778. 26 a year ago. In the - same period, loans and discounts have been reduced from 2180.851,798.55 to I164.803.170.7S and ob ligations representing money have de creased from 315.146.662.31 to 35975.68. a liquidation of the obUgations during the year aproximatlng CO per cent. The aggregate resources of the banks of Oregon have also shown a tendency to recover from the slump which prevailed during 1921, showing an increase in the last year of $1,833.- - 679.46, although still falling below the high mark of $350,609,030 reached on September S, 1920. . BramweU points ' out that the law relating to overdrafts applies as well to the depositor who draws a. check -against bis account when there are not sufficient funds with . which to make payment. "One of the interesting features dis closed by the last reports submitted by the banks of Oregon was the con tinued decline in overdrafts," Bram weU declares. "This feature has been 'a matter of frequent comment by this department. The practice of permit ting overdrafts is generally viewed with disfavor. The . department .'has been persistent in its efforts to en tirely remove this practice not only to eliminate an undesirable business policy, but to enforce a substantial compliance with the law." Harbor Frontage Is 25.62 Miles , ' T ' -V- " i Portland has a harbor frontage of 25.62 miles. The city's area is 66.36 square miles within a water area of fflr square miles. With the dock front age afforded on the Willamette and .? on Oregon slough, with Columbia river frontage available in the future, but not included In the figures given, it -is , estimated that Portland, grown to be , a city of 1.000,000 or more, could sup ' ply ample room for ocean terminal fa . ellitiea. Portland is 10S miles from the ocean, and while the channel has a minimum depth of 30 feet, it is usu ," ally 15 to It feet deeper. A total of about 1200 miles of inland water trans portation Is available from Portland. ' although as a matter of candid fact - - the chief present use of the inland waterways is .to furnish valley routes for the railroads. Portland is served ' by 10 railroad lines, five of them trans- A - - ' ' - ' ' s .W-"'" . - , - - , . ? I - - , t ' -l ,-rT- . i ;-. - .i- -1 .a'l V X- 1-;! .)-f irif. '''-V.'.hl 1..,mi i - 3 - " x, 1 ,., .. ia -':' ""i-i. . Kin J ' , ,1 "'v v. t TJ1?' 1 J 'ii:ri r 4 3 " f re Above Meier & Frank warehouse, under construction at 14th and Irving streets, at a cost of $350,0O0. Below Imperial building at Fourth and Pine streets, dedicated to garage purposes, representing an in vestment of $250,000. -i Portland Facts and Figures Portland lias 66.59 square miles with in its corporate boundaries. Portland has 1500 linear miles of streets. Portland has 445 miles of paved streets and 145 miles of graveled or macadamed streets. Portland is a city without slums. . The population of Portland and the territory immediately adjacent is 128.294. Portland's population in 1920 was 288.248. Portland's street railway mileage is 215.49 miles within the 8-cent fare une. Portland is the vacation capital of the Pacific Northwest. , Portland has a total assessed valu ation of $300,044,715. The assessed valuation of Multnomah county, including the city of Portland, is $323,270,980. , Public service property in Portland has an assessed valuation of $30, 122,(40. The city of Portland has never de faulted in payment of the principal or Interest on any of its bonds. The Portland i birth rate is 10.7 to the 1000. and the death rate is 10.. Portland has 53 theatres, with an aggregate seating- capacity of 35,570. Portland has 29 parks and nlav- grounds with an acreage of approxi mately zzuu acres. The Portland tax rate is 12.5 mm. based on 75 per cent bf:casb value of land and 0 per cent of cash value of buildings. Portland is becoming the maritime city of the Northwest, with 43 steamship lines plying all over the 'world. Portland has nearly 1000 factories. withy an investment of nearly $100. 000,000. Lumber, flour, furniture. woolens, machinery, fruit canning and meat packing are some of the in-dustries. Portland is a 'city of 75 public schools and ' 213 churches, with every oppor tunity for mental and . religious de velopment. Portland is the terminus . of four transcontinental railroads and the center of a network of local Uam and electric rail lines. N. W. Fruit Pack Is 4,500,000 Gases California's fruit pack this year ag gregates 11,500,000 cases. Of this amount 9,000,000 cases are peaches and apricots, leaving 2.500,000 cases of gen eral character. The Northwest's fruit pack this year is 4.500,000 cases, show ing to the satisfaction of students of the industry that the Oregon-Washington fruit canning business is more di versified than that of California. Millions of acres of timber on the national forests of Oregon and Wash ington have been destroyed by fire. Much of it is reforesting naturally, but where areas have been repeatedly ournea, - artificial planting of young trees is necessary to replace the forest. 1 s Western Bond & Mortgage Company j . i' Capital and Surplas Over $600,900.00 GOVERNMENT AND JHTJNIC1PAI,; BONDS CITY AND FARM MORTGAGES SHORT TERM. INVESTMENTS - Fourth at Oak Street ! Portland Oregon s St a te D e v elapment rough I rrigation Th IN THIS meritorious work wc point with pride to our record. During the past year we have through bond issues financed the following municipal irri gation districts in Oregon: Summer' Lake .................. Silver Lake Talent ,. Slide Eagle Point 400,000 Deschutes County Mun. Imp. Dist... 550,000 Crook County Imp, Dist. No. 1. ....... 95,000 .$260,000 . 275,000 . 475,000 81,800 9,048 8,979 10,600 1.800 6300 20375 3,745 acres acres acres acres acres acres acres is' x $1,136,800 60,847 acres Through our efforts water has been placed upon . 60,847 acres of land. It is estimated that the value of the land has been increased by $6,000,000 and the annual value of crops raised by more than $1,000,000. The State of Oregon, realizing the benefits accruing from this development, in order to attract the immense amount of capital necessary to carrying on the work, has left nothing undone to make the bonds of her dis tricts safe investments for her citizens. We supplement the state's exhaustive investigations by our own, which is no less rigid. All bonds which we offer are certified by the Secretary of the State of Oregon as legal investments for savings banks and trust funds and bear , our own unqualified recommendation. No other security, of com parable merit offers the investo a more liberal interest rate. .This interest is tax exempt. v- Get the Facts CrfrMIILERa? COMPANY I I F"I FTH AND STAR HL STS. Confidence 'T To earn' and hold the confidence of its patrons, by sincere and intelligent effort to' assist them in securing opportunities for safe and profitable ' investment That's the chief ambition of this concern. ? xs . - t - To the new investor we offer the accumu lated experience of many years specializing in investment bonds ; constituting a service that will satisfy by its completeness as well as by the representative and dependable list of offer ings we at all times have for your consideration. No client has EVER suffered loss on bonds offered for sale by us through non-payment of either interest or principal. CIAKK KENDALL GO. Jjlii i?V fWCtJfOT-OsiTfcW "u.nnaiL SIBONDS PORTLAND. OREGON Portland Seattle N.W.Bank Building PORTLAND San Francisco f Los Angeles Telephone Main 4195 - i W j Vaubi I.I.I.I.II.I.I.I.I.I.M.I.I.I.I.I.I.M.I.I.I.I.IIIUI minMimimiiii null CHOOSING YOUR INVESTMENT BANKER We believe that for the average investor even more im portance should be attached to the selection of the investment Banker from whom he purchases his securities than to the choice of his bonds. Since it is necessary for the investor to rely so largely upon the representations of the institution from whom he buys his bonds, it is of the utmost importance that such an institution be one whose policies and ideals will merit - his complete confidence. ' - ' . ....... . , . ... - . - . Our claim to your confidence is based on more than sixty three years of faithful and consistent service to our customers. This long record of integrity and fair dealing carries with it a trained organization and the best of financial connections. sal We confine our business to carefully selected government, public utility, municipal ' and corporation bonds. We do not off er stock nor investments of a speculative nature, nor do we finance affairs: of companies in a promotion or constructive state, :, but only thosev showing ' consistent development and having a history . of substantial and established, earnings BOND DEPARTMENT OPEN 8:30 TO 5:00 SATURDAYS 8:30 TO 2:00 'i. Oldest in the N6rihwest WASHINGTON at THIRD INVESTMENT SECURITIES COMMERCIAL PAPER ACCEPTANCES BONDS DETAILED OFFERINGS ON REQUEST Bond & .Gqqksjn Tucker - , VNtTLO STATES NATIONAL BVWOC SVnOINC PORTLAND tM rsAsaete - io a.cuk ssavtlc OREGON WASHINGTON IDAHO General Obligation . .. . BONDS .. Priced to Yield Up To ; 6.25 ' 'Income Tax Exempt ,.- Wire or Call for Complete Details Ralph SchheelochCompaiiv ' , municipal ; 1 1 c0pp0rati0m ' Second Floor Lumserueks Bldg i i i i i ri i i i-i ii i l i l i i i l i i r l i l i i i II I i i i i i i i 1 i i r I fi i i T i r i t i Yn-1 ivi'i'i itiititii