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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (May 18, 1961)
MEDFORD MAIL TRIBUNE, MEDFORD, OREGON 8 C THURSDAY. MAY II. t State Banks Had Odd Practices ! Many Years Ago : Portland, Ore. - IUPD - An f individual can keep bit mon ey where he likes, in a money belt, a mattress or a woodpile. But when a bank keep the ' deposits in a woodpile, it does give rise to some con- '. cern. ,'.).''. ' , The banks of today are fine . structures, . molded of steel : and stone and principle-. But . the history of the Old West, and Oregon in particular, re veals banking procedures that ' make one wonder how we got this far. .Not until 1907 were state : banks In Oregon subject to examination.: As a result the assets and transactions of the , banks were not., segregated from those of the owner. For , many years banks continued to be operated in a corner or across an end ol a general store,- . .1 1 Snowden Guy Sargent, bank examiner , at the turn of the century, records many strange banking practices. $5,000 Short - - ' ... : In one bank, he found the books $5,000 short. This ap peared to be a shock to the banker. A second and third count still showed a shortage. After a bit of head scratching, the banker remembered. He led Sargent to a wood shed at the rear of the bank and busied himself lifting wood out of a sack containing the missing funds, He explained that the bank had only a small safe which was not burglar proof. If H were robbed, the bank would save at least some of the money. . In another case, Sargent . found the combination of the safe written on a small piece of paper pasted to the safe. ' The reasoning was that since the safe was not burglar proof, and the burglar had the combination, he would . not blow Up the safe. And though they might lose the assets, they still would have the safe. In an old country, bank, Sargent found the books $1,000 short.. The banker looked around and then whis pered to the examiner, "Wait minute. I'll get it for you." He stepped over to an old table, . stacked high with paper, boxes and debris. From this he pulled out a cigar box containing several hundred dollars in gold.. A similar ' amount was found under the fuel in a wood box. Still more was found beneath the ashes in a stove. He explained that the mon ey would be safer almost anyv where than in the safe. After Sargent examined the safe, he agreed. ? . According to O. K. Burrell of the University of Oregon, some Northwest banks had strange beginnings. Special Deposits Pioneer' merchants and ex press companies often accept ed special deposits such as gold dust and pouches t cash. ' This did not actually constl tute banking, although Bur rell says many banks did evolve from this practice In Seattle, Dexter Horton, ' a ' respected merchant, often kept "deposits" for trappers, loggers and traders. Finally ' they acquired the habit of : leaving their money in his store, tied in cloth or buck skin sacks and labeled, wltn the owner's name. The sacks or pouches were hidden some where around the store. The ' coffee barrel was a favorite i place, From this beginning came what is now the Seattle First National Bank. Court Records ' v. t MKDrORO MUNICIPAL COURT Joseph Edward Paulson, failure to obtain Oregon's Meant, no op era tor 'a license. $25. Jamea Owen Crane, operating vehicle with Instruction permit wiinom ijcensea person in venicie, us. Frank ray Ditto, no registration visible in venicie. aa.ou. Thomaa William Carter, In nrooer left turn. $10. Ronald Roaa Plan kenhorn .wrong way on one way street, $10. Earl rtnley Clough, (allure to yield right of way. $19. Harry Warren Ruasell, failure to leave Information at scene of accident, $150. suspended. Alpha Henry Harris, no driver's license, SS, dismissed, - Edith Lyle Jacobs, on head light, $10. suspended. Florence Cornell Poster, wrong , way on one way street. 19. John Bennett Gilllland, no li cense plate light, $10, Sandra Lea Sanchet, disobeyed ; traffic signal, 910. Markcy Lee James, xeesslv i noise. $10. i Linda Ruth Vice, disobeyed traf fic signal, sio. Maurice Lane Henderson, fail ure to yield right of way to pedes I Irian, $15. ... Richard Keenan Ryan, ioiiow- lng too close, 129. ca Carmalella Patsy Graham. lm- nmnar riarnt iiirn. iiu. Homer John Luke, violation of ' Basic ruie, aio. Samuel Benjamin Lew, disobey ed stop aign, $10. Eleanor Ruth Llaae, violation of basic rule, $10. CIRCUIT COURT Jeremiah Veatch Ward vs. Carol ; Sue Ward, divorce complaint. .. Ruth C. Mason vs. Harold It JMsson, divorce complaint. Oliver R. McNeet vs. Mildred 'Kay McNeel, divorce complaint. : Edna Lavern McClour vs. W. B. McClourdivoro complaint. Pract ; Q CO NFIBE NCE I V : : QS Y SATISFACTION ' ical folks Everyone Reads The mail Brand buy feme pl&iejs . - "' '. 1 Why do you buy Brand Names? Because you trust them. You know that they are consistently good, that they always meet the high standards of quality you've set for yourself and your family. You'll find Brand Name products wher ever you go. No guesswork shopping. Like good friends they're always there. The Brand Name "manufacturer has built a reputations He must maintain it, so he keeps his standards high, an4 strives constantly to make his product better. He's always first with new products and ideas. He employs lots of people. He helps balance the economy. You depend on him. He depends on you. Know your brands, and buy the brands you know. You'll find some of them on the pages of this newspaper. 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