thjs UKEUQN STATESMAN, SALEM, OREGON, TUESDAY MORNING. JULY 17, 1928
6
irinTnnniirnniriniT iihh j..- ll g-- njzssssxxssz-ssr : i
H Bhr BMW ft h H B hB M ,1 B fir - . i
I W a WBBWBBBVW WIS I It Z I I H.
1 1 III I '- la I
n niinn Tn mil l foiiowmr abwrption of the old ninnihrri'P nnnnnr i s .- " mil
ILP fr-rirMm III
Expansion of West Coast
Bancorporation of Interest
To Salem Folk
(The following story which ap
peared on the first pace of the
Oregonian last Tuesday, Is of in
terest here doe to the fact that
the U. S. National bank is one of
the ii-titutions owned by the
Went Coast Bancorporation:)
la an agreement signed yester
day, control of the Citizens bank,
with assets approximating 95.000,
000. and the Union State bank.'
with $200,000 of assets, passrd to
the West Coast Bancorporation.
String this new holuing organiz
ation possession of fire Oregon
banks. Tfce two banking institu
tions acquired yesterday are lo
cated on the eaet side in Portland.
The Citizens bank is the fourth
largest state-chartered bank in
Orexon and the third largest In
Portland.
Affiliation of the Citizens bank
In the West Coast Bancorporation
svstem was foreshadowed last
week, when control of the instl
tution was purchased by George
W. Weatherly. Portland capital
.1st. and Ralph B. Lloyd, Los An-
-r celea capitalist, who has become
actively Interested in real estate
derelopments of "the east side
These men and their associate?
had been 1 in friendly contact with
West Coast Bancorporation heads
for some time.
' Assets Nearly $20,000,000
Yesterday's deal, adding two
hanka to the growing bancorpora
tlon. raised banking assets of the
rroun close to S20.000.000. the
exact figure being I19.483.4C1.42
Deposits in the fire banks of its
chain total 317,648.852.90. The
tire institutions hare an aggre
gate of 36,786 depositors. Pur
chase of the Citizens and Union
SUte banks added 13.780 deposl
V tors to the wevioua total. , The
1 asset figures Just quoted do not
Include two subsidiary companies
belonging to the bank chain.
The banks preriously under con-
. trol of the holding corporation
'. were the West Coast National and
Peninsula National of . Portland
and the United States National of
Salem, second largest an-ot the
capital city. The four banks of
this city are strategically located
te serre different districts and
clients and are in no sense com
petitors, it was pointed out yes-i
terday. !
Details of the transaction were
'not made public, but It Is known
that it.involves only an exchange
of shares of the tow east-etde
banks for shares of the ban cor
poration It was stated by Kdgar
H. Sensenich. president of the
corporation, that minority Vock
of shares of the two east side
had been offered opportunity to
exchange their shares on the ba
sis ntained In the agreement
. -nri itii the Llovd-Weatherly
interests.
Bank tang Profitable
The Citizens bank Is the second
oldest banking institution in con
tinuous operation as such In the
city of Portland, baring been es
tablished June 1. 1890. This
"THAT'S WHAT I CALL AS
Ice Gream
Soda!;
119
That's what you'll say
when you dip Into the
goodness of our Ice
cream sodas or sundaes.
Made of pure rich cream
and flarored strictly
with pure-food flarors.
our sodas and sundaes
hare a goodness and "a
food ralue all their own.
Schaefer's .
DRUG STORE
135 North Commercial St.
Phone 197
The Original Yellow Front
centrally located east-side Institu
tion crew consistently from the
first, but expanded quite rapidly
following absorption of the old
Eaet Side bank and its $700,000
of deposits in 1918. The bank al
ways has been sound and prosper
ous. Prior to an increase in cap
ital to $200,000 a few years au,
it had paid diridends as large as
15 per cent Diridends hare beei
paid at the annual rate of 10 per
cent since the eapital expansion
and goodly sums bare been jis-
ed to undirlded profits and surplus.
As of June 30 the Citizens bank
had total resources of $4,684,-
C89.04. Deposits amounted to
$4,364,016.76. Loans and dis
counts were $2,580,753.84. Sur
plus .and profits totaled $110,
3 69.70 and a special reeerre
amounted to $10,302.58.
rne union state bank is a new
institution, haring been establish
ed near the corner of Union and
Killingsworth arenues by Mr.
Lloyd August 27. 19 27. It began
with S50.000 capital and $10,000
surplus. Deposits hare grown
from nothing to $140,272.23
Loans and discounts total 844.-
265.73. The bank Is expected to
forge ahead as derelopment of the
important district It serres Is
pushed forward.
Present management of the two
banks will not be disturbed in any
way. It was announced. Elmer A.
Clark, newly elevated to serre as
president of the Citizens' bank as
successor to N. U. Carpenter, and
A. A. Binford, rice president, will
be in actire charge of this Insti
tution. Mr. Clark has been with
the bank 11 yeare. and is glren
much erdk for building it to its
present standing. The Union
State remains In charge of C. W.
Norton, president, and T. J. Ma
honey, cashier.
List of Officers Given
Officers and directors of the
Citizens' bank are: President, El
mer A. Clark; rice presidents, A.
A. Binford. Ralph B- Lloyd and
George W. Weatherly; assistant
caehiers. Will H. Bennett. H. Am
bler, and, J. R. Young; directors.
Messrs. Clark. . Binford, Lloyd.
Weatherly. George W Burt, C. W.
Norton and A. W. Lambert.
Officers and directors of the
Union State bank are: President.
C. W. Norton; rice presidents. Mr.
Lloyd and J. O. Elrod; cashier, T.
J. Mahoney; assistant cashier, R.
L, Knndsen; directors, Messrs.
Norton. Lloyd. Elrod. L. T, Mer-wln,-
George W. Burt, and E. A.
HltUnsbead.
I am rery mnch pleased -with
the amalgamation with the West
Coast bank and the Bancorpora
tion." said Mr. Clark. "The action
was taken by officers and direc
tors - of the Citizens' bank after
mature consideration. We hare
been thinking of the affiliation
for 30 days' dr more. I believe
this it the 'day of the association
of banks and that we hare made
an advancement or ootn institu
tions by this more. I bare the
fullest respect and confidence In
the West Coast - exeeutires." . .
Mr. Sensenich Pleased
I am especially happy to
schiere this affiliation," said Mr.
Sensenich, "not only because of
the fine records of the east-side
banks but equally because of our
faith in the east side. It has'
been coming to the front rery
rapidly and we feel that its.
growth of the future has as yet
hardly been enrisioned."
Figures of interest to investors
relating to capitalization of West
Coaet Bancorporation were glren
out yesterday' at headquarters of
the organization In the Porter
building. These show that prior
Famed Mexican Good Will
Flyer Honored by Many
In New York
to yesterday's deal the-6rpora
tion had outstanding capital
amounting to $3,025,000. This
was represented by $1,800,000 of
Investment in stock of the three
banking Institutions owned by it
and $1,200,000 in call loans, oth
er investments and cash. The par
ralue of bank stocks owned, war
$800,000.
NEW YORK. July 16. (AP)
--Throughout the day and even
ing a line of silent persons, with
women predominating, moved
through the funeral parlor where
lay the body of Captain Emilio
Carranza. Mexico's best known
ariator.
Although the casket waa filial
ly closed, on order of Consul Gen
eral Arturo Ellas, and they could
not look upon the youth who
crashed last Thursday while fly
ing homewards, those who came
to pay their respects were in num
bers sufficient to form a long line
leading to the door.
The Mexican and United States
guard of honor remained in their
places about the flag-draped cas
ket.
Meanwhile . preparations went
forward for the military rites In
connection with the start of the
body for Mexico on Wednesday.
This cortege will be the nearest
approach to a funeral service that
Carranza will hare until his body
reaches his homeland. Officers
and men today were carefully se
lected from the United States ar
my to form the guard of honor
during the long train journey to
Laredo, Texas.
Four army officers will accom
pany the body to Mexico City, it
was announced today. Those des
ignated by Major General Ely for
this duty were Colonel Theodore
A. Baldwin, Jrl, air officer of the
second corps area. Captain Wln-
fred Houghton. Captain William
Hones and Lieutenant Philip H
Kron.
Most of the regular- troop of
both army and nary now' stationed
near the city will march lit the fu
neral procession in which the body
will be borne to the railroad sta
tlon.
Additional tributes of messages
and flowers were received at the
consulate today.
tdurists
as
E
ROAD WORK IN NORTH
VERTS TRAFFIC WEST SIDE
DI-
FIRECRACKKRS BARRED
PARIS. July 16. (AP).
French kiddies celebrated France's
Independence day Saturday with
unusual Indifference. They were
denied for the first time the joy
of renting their patriotic senti
ments through firecracker or tor
pedo. These instruments of
youthful self expression were
theoretically prohibited sereral
years ago, but the police hereto
fore had overlooked the regulation.
i RESUME RELATIONS
! LINCOLN. July 16. (API.
I Notre Dame and Nebraska will re
jsume gridiron relations In 1930
I with a game at SouCi Bend, in
1928. Nebraska atbletie director
announced today.
WOOD BARGAINS
We have bought a limited amount of wood that we will
sell at the following attractive prices. On account of
the fire hazards we will have to move this wood im
mediately. For a short time only
2 cords 1st. grade 4 ft. Old Fir
for .
2 cords 2nd grade 4 ft. Old Fir
3 loads lsTgrade 16"
3 loads 16" Old Fir knots & 2nd grade
2 Cords 1st grade Second Growth
We will rick up 4 cords or more of 4 ft. wood
- FRED E. WELLS
$13.50
$12.00
$22.50
$18.00
$12.00
Phone 1542
2$0 S. Church St,
Local auto camp owners report
a light business recently; and at
tribute It largely to the diversion
of traffic from the Pacific high
way because of road work near
Oregon City. . Some -tourists com
ing in to Salem from Portland
said that at Portland they had
been adrised to take the west side
highway and miss Salem, rather
than to make the detour.
People hare noticed a great
many of the Idaho "spud" licenses.
on which a large Idaho potato is
featured in the plate design. Yes
terday C. A. Gies called attention
to the design of a codfish on the
Massachusetts licenses for this
year. What will Oregon adont?
Texas license plates are marked
front" and "rear to make
switching more difficult.
Although there is a heary east
ern trade now, the peak of the
season is not expected for a week
or two, according to the registers
of last year.
Allen Eastlund and family ar
rived here yesterday and will camp
in the city auto park for sereral
days. Mr. Eastlund Is from Lucas,
South Dakota. He wishes to lo
cate in the west for the benefit of
Mrs. Lucas' health and for the
good school opportunities offered
for his children. In Mr. Lucas'
home country, they raise hogs and
grain, mostly, and Mr. Lucas
wants to do the same here in the
v mamette ralley. Xn family has
been on the road for one month
and two days.
BELLIBMCU
IEF
0NS Education Conference
Schedules Prominent
Leaders on Program
West Coast
now controls these conveniently
located banks whose
Combined Resources Are $19,483,46112
-
West Coast National Bank, Portland
Porter Bldg. In the heart of the Financial District
Peninsula National Bank, Portland
St. Johns Serving the industrial district of the Peninsula
Citizens Bank, Portland
116 Grand Aye, In the East Side Business Center
Union State Bank, Portland
1148 Union Ave. Serving Kenton, Piedmont, Woodlawn and Alberta
United States National Bank, Salem
In the Capital City, serving tlie rich Willamette Valley
o n
e n e
d R
c p o r t
f C
o n
i t l o n
i B
a n
a s
f Ju
n e
3 0
19 2 8
United States National Bank, Salem
RESOURCES
Vnkmd States
C Beads m
Bar "
. Farnitur and FuOuns
Cash and Due fi
UABn-ITIES
Capital Stock ........ ....
Surplus
wmrmwi rreews .
. 1,078,46.73
9,10000
. 11201X42
169.300.00
54371.95
. 782,241.27
8M 10,506.57
. 100,000.00
150,00000
11.635.50
5,00000
. 0,943,871.07
3,210,506.57
'Pres.
OFFICERS
D. W. BYRE.
. F. S LAMPORT, Vi
E. W. HAZARD, Vke-IW
L. C SMITH, Cm-Wt
LEO. G. PAGE, AWt Cashier
KARL B. WENGEJt, - Aas't Cashier
Nnakr' FWsrW JLenry SytUm
West Coast National Bank
RESOURCES
Leans and DiaceuMs 4,661,026.07
Slock in Federal Rcaarva Bank 2L000.00
Municipal and ehsr Bonds ....... 985.00O64
Furnkore and Fixtures 83,689.42
U. S. GotiinmaM Securities 532J036.O1
Cash and Due from Bank 2,862,451.18
CuatoRMra Liability under AccapV
ances and Letters mi Credit 104,363X0
9,249,574.32
LIABILITIES
Capital Stock .J
Surplns and Profits.
Deposits
Acceptance and Lett era of CracBt
Outstanding
: 500,000.00
301,941.63
8,343,267.69
10436300
9,249,57432
OFFICERS:
BDGAR H SENSENICH, PraaidaM
JOHN N. EDLEFSEN. Vk-IW
GODFREY C BLOHM, Caahirr
CHAS. R. HARDING, Ai C-uuar
PHIUP A. STRACK. Aar't Caahiar
DONALD W. MACKAY, Trust Officer
Mmhr f4mJt Kerv System
mmd Portland Clearing Hmim
Peninsula National Bank' -
resources " "
Loans and Discounts 844,474.14
Stock in Federal Raecrv Bank 7,300.00
Souds and Securkie. v , . 61O025 J9
Banking Houas, Furniture and Fix
tures 69,8008P
Citomtrr' Liability under Latter of
, . . ,
vrecM ana ActepmKti e ecuieuv c .
by this Bank for Cuetonr icn.
U. S. Bonds 21020.19
Cash on hand and Due
from Banks 379,357.14
LIABILITIES
Capital Stock fully paid in.
Surplus and Undivided Profits. . . . .
Letters of Credit
by this Bank f
Dividend Unpaid
Rufismmns with
Bank
Deposits
i o
589,'57?33
2,138,419-
. 200v00O00
6279
17t2.30
X72JOO
Nona
. 1,857,425.15
2,138,4196
OFFICERS:
JOHN N. EDLEFSEN. President
CHARLES B. RUSSELL. Vlce-Pres.
EDMUND J. WHELAN. Cashier
STANTON L. DOBIE. Ass't Cashier
GORDON S. OGDEN, Auditor
Meatier Ftderml Rrve SyUtm
Unidn State Bank, Portland
RESOURCES
l oam and Discounts 44t65.73
Bond (Commercial and Savings) 1 12361.55
Furn.'lure and Fixtures . 2183.39
Other A-rt 10.393.17
Cash and Due frwin Reserve Banks.... 30,168.39
200.272.23
LIABILITIES
Cap t .: Str.k 30,000.00
Sjrpljs . . 10J0OOJ0O
Deposits 140,272ti
$200723
OFFICERS:
C W. NORTON, Present
RALPH B. LLOYD, Vka-Pres. T. J. MAHONEY, Cashier
J. O. ELROD, Vice-Prae. R. L. KNUDSEN, Aas't CaAic
Citizens' Bank, Portland
RESOURCES
Loans and Diecounts 2,580,753.84
Federal Reserve Bank Stock 6,900.00
Bank Premiaea and Fixtures 122,647.50
U. S- Portland and State Bonds 1.24 3,497.00
Cash and Due from Bank 730,890.70 1,974,387.70
4,654,689.04
LIABILITIES
Capital Paid in 2O0.0OO.00
Surplus and Profit 1 10,369.70
Reserve 10,302.38
Deposits l 4,364,016.76
4.684,689.04
OFFICERS:
E. A. CLARK. Preident GEO. W. WEATHERLY, Vice-Prcs.
A. A. BINFORD, Vice-Pre. WILL H BENNETT, A't Caiier
RALPH B, LLQYD, Vice-Pre. H. AMBLER, Aas't Cashier
J. tL YOUNG, Aas't Cashier
iitmbcr F tiler ml Rettrv Sytlem end Portland Cltarimg HfMHr
;t Coast Bancorporation, Porter Bldg.,Portland, Qt-elgon
OFFICERS
Edgar H. Sensenich, President . John N Edlefaen, Vice-Pres. and Treasurer
Andrew Miller, Secretary Geo. W. Sensenich, Ass't. Secretary
DIRECTORS
Thomas Autzen, Pretident, PortUnd Mmnufmcturing Co. W. O. Munsclt, Prttidtnt,'MkchVL, Lewis G Stmver Co.
John N. EcBefsen, Vice President mnd Treasurer Harry T. Nkolai, President, Nicotoi Door Mrnnnfoclmriut Co.
Koss Mclntyre, President, International ? Cf Produce Co. H. S. Tuthill, President, Oregon Casket Company
(20th Century Grocery Stores)
Dry, Hampaon and Nelson, Counsel
Edgar H. Sensenich, President
Price, Waterhouse AC Co., Accountants and Auditors
ft
i
and waa ata osuDer visor of thiE jwaU nmn tat enUw-
state normal schools. Prior to
this be was a professor of educa
tion at Swarthmore collect for
.three rears and had also been
OREGON NORMAL SCHOOL.
Monmouth. July 16. (Soecial I head of th llenarttii.nf nf !,,..
Dr. C. H. Fisher, president of the! tlon for a period of fire years at
Washington state normal school at; the tata normal school at West
I ueuingham. is one of the out
nl.. Jl . . .
, iuuius caveators scheduled to
take part In .the educational con
ference which will be held at the
" ' uuiiuii kuooi oaiuraa.
July 21. Dr. Fisher's subject will
be "Who Dares to Teach Must
Nerer Cease to Learn" and his dis
cussion will deal with the im
provement of teachers while In
service.
Dr. Fisher has been president of
the Bellingham normal school
since 1J23, where he has made a
ery great record along adminis
trative lines. He has been in
strumental la Jutting a Tery mod-
;ern course of study Into use In the
' Bellingham - normal. . It was for
thl reason that t the 'conference
committee desired very much to
bring him to MonmouthV
Before coming west. Dr. Fisher
was a prominent member In the
educational field In the state of
Pennsylranla. For many years he
was president of the Bloomsburg.
Chester. Pennsylvania
Agnes Matlock, classroom teach
er of Portland, is chairman of the
conference, the general theme of
which Is better teacher training.
The complete program la:
Morning Session: Training
school, conference chairman pre
siding: : 00 Music; 9:15 "What the
Teacher May Expect from Train
ing," Dr. W. H. Burton. Univer
sity of Chicago;' 9:60 "1J31. No
Teacher With Less . Than Two
Years' Training." 1 J 3. No Teach
er With Less, Than. Four Years'
Training,"- Julia A. Spooner. vice
president C. 8. T.A.; 10:15 "En
trance Qualifications for Teacher
Training Institutions." Charlea EL!
VTanseen. San Jose Teachers' col
11:30 "The Supervisory and Ad
ministrative Certification." Dr
Carl L. Huffaker, University of
Oregon.
Afternoon Session: Normal
School auditorium. President J. S.
Landers, presiding:
1:30 Music;. 1:40 "The Tourist
Teacher," C. A. Howard, superin
tendent of Public Instruction ;
2:00 "Who Dares to Teach Must
Nerer Cease to Learn," Dr. C. A.
Fisher, President Bellingham State!
Normal; Summary: Grace Bridges,
President Portland Federated
clubs.
Thomas H. Gentle's "Roundta
ble" clasa of" the summer session
1928 Oregon-normal school is de
veloping as a project this educa
tional conference, having for Its
aim better teacher training.
Gill RATE FIGHT
n i
E
Contention That American
Lines Can Operate Un
der Canadian Hit
PORTLAND, Ore July 16.-
(AP) Arthur M. Geary, attorney
representing several farm organ
izations at the Interstate com
merce commission hearing here on
grain rates, today drew a barrage
of questions from railroad attor
neys when he atempted to show
that American railroads were op
erated less efficiently than Can
adian, and that American carriers
could operate on 'a profit" Under
SAY AJIUXDSEX SAVKD
COPENHAGEN. July 16.
CAP) According to the Stock-
lege; 10:40 'The Relation of .K.olm Tldnlngen Therbls an uncon-,the lower Canadian rates
High School Teachers' Assirn-1 V"""5" ''TCx v"lu
ment. to Their Preparation." Dr. I Afm-dMn " o her member.
?red L. Stetaon. University of Ora-lfJ,ta '"V' th ml",ns French
icatlon of a Teacher to the Field
Pennsylvania, state normal school of Her Preparation," Dean James
Read the' Classified "Ads
tomorrow m explanation or a se
ries of tabulations on grain and
flour movements through the' Co
lumbia river and Puget sound.
In an attempt to contradict tea
timony by Geary. R. J. Hagmen
of the Great Northern railroad
cited figures tending to show that
since 1921 Great Northern earn
ings nave rangvd Irom 1.8 per
cent to 4.3 per cent in 1927. In
view of the fact that carriers are
allowed under federal control a
return of 5 3-4 per cent. Hagmen
wanted to know if they did not
have every incentive to' operate
efficiently.
Railroad traffic experts, Hag
men said, bad figured that if Can
adian grain rates were applied
to this country, the aggregate loss
of revenue on four railroads
would be ten million dollars an
nually. The four roads he named
were the Great Northern. North
ern Pacific, Milwaukee and Saulte
Ste. Marie:
Geary took te Klamath bsln
Just before the ! day'a session as an example. The Dresent r.t.
adjourned. Lv A. Andrus, civil en- from Klamath" Falls to Portland
gineer, took the stand in behalf was 26 cents, he said w a.
f Portland's ease defending the jelared that If the rate were low
,-oiumDia oasm ainerentiai. An-lered to 20 eenta, twice as much
dm wiU conUnue Ms testimony grain would; be produced and
asked If the railroads would not
rather haul twice as much grain
at the 20 cent rate.
Former W. U. Forensic
Coach Visits in Satem
Professor Horace G. Rahskopf,
head of the department of pub'k
speaking and coach of dramatic?
and forensics at Willamette uni
versity from 1924-26, was the
house guest of Mr. and Mrs. C. H.
Bryan over the weekend.
After leaving Willamette. Pro
fessor Rahskopf did graduate
study In the department of speech
In Iowa State university at Iowa
City, and received hla master's de
gree from. that school. The p?t
year e4AUgb.tr at Illinois Wesle
an university, at Bloomlngtou, Il
linois. Alhtouah he found' hi
work in the 'midwest very ples-
ing, he preferred the far west and
has accepted a position as instruct
or In the University of Washing
ton for next year. He will be pro
fessor of speech and will assist
coaching In debate.
In", the near future Professor
Rahskopf. will-marry Miss Frances
Jordan; of r Maryhlll, Washlnrton ;
the wedding-will be solemnized 'at
the home of the bride's parents-. -