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PORTLAND, Or., July 28.-The Union Banking company has assigned. The institution did a small business.
15995. Union Banking Company (Portland, OR)
Bank Information
- Episode Type
- Suspension → Closure
- Bank Type
- state
- Start Date
- July 28, 1893
- Location
- Portland, Oregon (45.523, -122.676)
Metadata
- Model
- gpt-5-mini
- Short Digest
145fefc2952c35f7
Response Measures
None
Description
Multiple contemporaneous newspaper dispatches (dated July 28–29, 1893) report the Union Banking Company of Portland suspended/assigned on July 28, 1893 and an assignee (Frank Hacheney) was appointed. Articles attribute the action to the general money stringency and failures/suspensions of nearby banks (runs on other Portland banks); no contemporaneous article describes a depositor run on this bank itself. The institution did a small business; assignment indicates permanent closure rather than a temporary suspension/resumption.
Events (2)
1.
July 28, 1893
Receivership
- Newspaper Excerpt
- The Union Banking company assigned today. The assignment was made to Frank Hacheney, City Treasurer; no statement of assets and liabilities has yet been made.
- Source
- newspapers
2.
July 28, 1893
Suspension
- Cause
- Local Banks
- Cause Details
- Suspension occurred amid the July 1893 money stringency and following failures/suspensions of other Portland/Oregon banks (Oregon National, Northwest Loan & Trust) which precipitated runs locally.
- Newspaper Excerpt
- PORTLAND, Ore., July 28.-The Union Banking Company has suspended.
- Source
- newspapers
Newspaper Articles (21)
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closed their doors here yesterday-the M. A. Thayer Bank and Bank of Sparta. The cashiers of both institutions claim that the action was taken to protect depositors and that the banks will resume. The liabilities of M. A. Thayer Bank are placed at about $175,000, and assets at $225,000. while the liabilities of the Bank of Sparta are said to be $210,000, with assets of $500,000. PORT WASHINGTON WIS., July 28.The German-American bank closed its doors this morning. The bank has been singularly unfortunate, having been caught in both the Plankington and Mitchell bank failures at Milwaukee. M. Andier has been appointed receiver. There are ample securities, and depositors will lose nothing. CHIPPEWA FALLS, WIS., July 28.G. W. Seymour's private bank closed its doors here this morning. There are runs on all the other banks in the town. PORTLAND, ORE., July 28.-The Union Banking Company has suspended. GREAT FALLS, MONT., July 28.-The First National Bank, of this city, suspended payment this morning. LOUISVILLE, July 28.-The Clearing House Association decided to-day to assist the weak banks by issuing certifled checks on clearing house banks, as was done during the stringency of 1890. Business Embarrassments. BOSTON, July 28.-The Tremont and Suffolk Mills, at Lowell, go on half time, beginning Monday. The York Mills, at Saco, Me., will shut down for five weeks. E. W. Chapin & Co.'s Satinet Mill, at Northboro, Mass., has shut down and the firm has assigned. PITTSBURG, July 28.-The Bessemer steel department of Jones & Laughlins Brownstown Mill closed to-day and five hundred men are idle in consequence. Mr. Jones refused to answer any questions on the subject, and the air is full of rumors. The men fear a long suspension. LOUISVILLE, KY., July 28.-The Ahrens-Ott Manufacturing Company has notified its men in the factory that they will after to-morrow be reduced to onefourth until further orders. The company manufactures plumbers' and steam supplies, and has two factories. The full force employed at these factories is four hundred men, and only about one hundred will be retained for the present. NEW YORK, July 28.-Adolph Goldsmith and Sigmund A. Goldsmith, composing the firm of Adolph Goldsmith & Son, jewelers and diamond dealers, 88 Maiden Lane, to-day assigned to Jonas H. Monsheimer, with preferences for $38,043 to numerous creditors. SAN ANTONIO, TEX., July 28.-The extensive coal mines of the Mineral Colliery Company, in Webb county, have closed down, throwing a large number of men out of work. There is no prospect of starting again. The men are leaving the county. DENVER, COL., July 28.-The Denver Hardware Company failed to-day. The house is one of the largest in Denver. Ex-State Treasurer Corwing is at the head of the firm. NEW YORK, July 28.-The failure of Horatlo D. Averill was announced at the Consolidated Exchange this morning. Liabilities small.
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P9 Another Portland Bank Faila PORTLAND, Ore., July 28-The Union Banking company assigned today. It did a small business and the assignment has caused no excitement.
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A Portland Bank Fails. Portland, Ore., July 28.-The Union Banking Company has suspended. A CHILD BURNED TO DEATH.
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MORE BANKS GO UNDER. NINE CLOSED IN THE WEST AND ONE IN KENTUCKY. ONLY THREE NATIONAL BANKS IN THE NUMBER -SEVERAL OF THE INSTITUTIONS LIKELY TO RESUME BUSINESS. Ellensburg, Wash., July 28.-The Ellensburg National Bank suspended payment on Wednesday. George B. Markle, president of the two banks which failed in Portland on that day, is also president of the Ellensburg bank. Portland, Ore., July 28.-The Union Banking Company has suspended. Great Falls, Mont., July 28.-The First National Bank of this city suspended this morning. The assets are much above the liabilities, and it is believed that the bank will soon resume. Money stringency is given as the cause of the failure. The bank was owned in large part by the Great Falls Town Site Company, and was a depository for the Great Northern Railway. Washington, July 28.-The First National Bank of Great Falls, which suspended this morning, has a capital of $250,000. The bank carries a line of individual deposits from $650,000 to $700,000. Controller Eckels is advised that the Chamberlain National Bank, of Chamberlain, S. D., capital $50,000, individual deposits $15,000, failed to-day. Milwaukee, July 28.-Dispatches to "The Evening Wisconsin" from Port Washington say the GermanAmerican Bank at that place failed to-day. Chippewa Falls, Wis., July 28.-G. W. Seymour's private bank closed Its doors here this morning. There were runs on all the other banks in the town. Chicago, July 28.-A dispatch to "The Record" from Martinsville, Ind., says: The S. M. Mitchell Bank, established thirty years ago, and backed by $500,000, went, into. voluntary liquidation yesterday. The cause of the action, it is said, is the division of the estate. Sparta, Wis., July 28.-Two banks closed their doors here yesterday-the M. A. Thayer Bank and the Bank of Sparta. The cashiers of both institutions say that the action was taken to protect depositors, and that the banks will resume. The liabilities of the Thayer Bank are placed at about $175,000, and the assets at $225,000. The liabilities of the Bank of Sparta are said to be $210,000, with assets of $300,000. Mt. Sterling, Ky., July 28.-The officers of the Traders' Deposit Bank decided last night to suspend payment, owing to a heavy run on the bank yesterday, caused by the Suspension of the Farmers' Bank. The bank owes $150,000, and has $390,000 of good assets, and the officers hope to resume business a: an early day.
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DISASTER AHEAD. Mills Shut Down Because of the Stringency. BOSTON, July 28.-A number of mills in Lowell, Biddeford, Me., Providence, R. I., and other points in New England have decided to shut down for an indefinite period because of dull trade and the financial stringency. FALL RIVER, Mass., July 28.-It is reported that several mills will shut down in August for a longer or shorter period, dependent wholly on the condition of the money market. The mills are well able to meet all their obligations, but the directors feel that it is useless to pay 8 per cent for time loans to enable them to pay their operatives' wages. NEW YORK, July 28.-The announce. ment of the failures of H. C. Averall and C. H. Collely were made on the Consolidated Exchange just before 2 P. M. to-day. The liabilities are small. The failures are attributed In both cases to the decline in sugar and General Electric. BROOKLYN, July 28.-Joseph Lecomte, manufacturer of sheet metal, made a general assignment to-day. It is imposible to learn the amount of liabilities, but they are said to be greatly in excess of the assets, GREAT FALLS, Mont., July 28.-The First National Bank failed this morning, owing to the Helena Bank suspension. The assests are much above the liabilities. It is believed the bank will soon resume. The bank has a capital of $250,000, deposits about $650,000. NEW YORK, July 28.-Adolph Goldsmith & Son, jewelers, have failed; liabilities $200,000. assets $390,000. HARRISBURG, Pa., July 28.-The Harrisburg Rolling-mills, one of the largest creditors of the American Iron and Tube Company. which failed yesterday, have shut down indefinitely. PORTLAND, Or., July 28.-The Union Banking Company assigned to-day. The company did a small business and the assignment caused no excitement. The assignment was made to Frank Hacheney, City Treasurer, but no statement of assets and liabilities has yet been made. There were $8000 of the city's funds in the bank. Assignee Hacheney thinks the bank will pay depositors in full. The concern has a capital stock of $100,000. H. R. Lewis was to-day appointed receiver for the Lewis & Dryden Printing Company. The indebtedness of the com-
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A Portland Bank Suspends. PORTLAND, Or., July 29.-The Union Banking company has suspended. CABLE CARS EVERYWHERE.
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$250,000. and the deposits amount to about $650,000. HELENA, Mon., July 28. - The situation in Helena to-day is very quiet. the banks doing an ordinary business. The Comptroller has directed Bank Examiner Wilson and Special Examiner A. W. Lyman to take charge of the First National and Montana National banks, which closed yesterday. PORTLAND. Or., July 28.-The Union Banking Company has suspended. ELLENSBURG. Wash. July 28.-The Ellensburg National Bank suspended yesterday. George B. Markle. President of the two banks which failed in Portland yesterday. is also President of the Ellensburg Bank. MOUNT STERLING. Ky., July 28.-Last evening the officers of the Traders' Deposit Bank decided to supend payment owing to a heavy run on the bank yesterday. caused by the suspension of the Farmers' Bank. The bank owes $160,000. and has $390.000 of good assets. and the officers hope to resume business at an early day. MARTINSVILLE, Ind., July 28-The S. M. Mitchell Bank. established thirty years ago and backed by $500.000 went into voluntary liquidation yesterday. There is $100,000 in Its vaults and deposited by it in Indianapolis banks. The cause of the action. it is said. is the division of the estate. INDIANAPOLIS, July 28.-The Farmers' and Merchants' Bank of Covington. Ind., closed today. Ex-United States Treasurer Nebeker is President. The officials say that the assets are sufficient to meet the liabilities.
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A Portland, Oreg., Bank. PORTLAND, Ore, July 28.-The Union, Banking company assigned today. No statement.
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THE PREVAILING DEPRESSION. Day's Report of Its Effect on Various Institutions. PORTLAND, Ore., July 29.-The failures of the Oregon National and Northwest Loan and Trust company have been followed by a run on the Merchants' National, and the suspension of the Union Banking company. The former met every demand, paying dollar for dollar. This seemed to have the most quieting effect and none of the other banks suffered any trouble at all.
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TELEGRAPHIC BREVITIES. The Denver Hardware company has failed for a large amount. No statement. Adolph Goldsmith & Son, jewelers of New York, have failed. Liabilities $200,000. At Portland, Ore., the Union Banking company failed yesterday. It did a small business. Director of the Mint Preston on yesterday purchased 100,000 ounces of silver at $0.7030 per ounce. Forty cases and twelye deaths from choleratic disease are reported in the El Pinde, Spain, district. Wilde & Wickhams, wholesale teas, coffees and spices, of New York, have assigned. No statement. The president has issued a proclamation including Portugal in the benefits of the international copyright act. At Dallas, Tex., yesterday, Henry Miller, colored, was hanged for the murder of Policeman Drewer last year. Ada Hiers, a negress, was hanged at Waltersbo, S. C., yesterday, for the murder of her half brother last June. Specials report the failure of the German American bank of Port Washington, and Seymour's bank, Chippewa Falls, Wis. Three hundred and forty-seven thousand dollars in gold came in on one steamer at New York yesterday morning from Europe. The amount of silver offered the treasury yesterday was 250,000 ounces at $0,7050 to $0,7060. All were declined and $0,7020 tendered. Sheriff Curtis of Brooke county, W. Va., has been arrested. Investigation shows that the amount of his shortage of state and county funds will be over $40,000.
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STOCKS SOMEWHAT LOWER. Effect of Proposed Action of the New York and Brooklyn Savings Banks. Special Dispatch To the Evening Star. NEW YORK, July 29.-The opening of the stock market this morning was somewhat feverish, prices varying from 1-4 to 1 per cent from last night's closing. The action of the savings banks in trying to enforce the 30 and 60 day notice of withdrawal was responsible in a measure for the decline, as was also yesterday's raiding of General Electric. The banks connected with the clearing house are not in favor of adopting the suggestion mentioned above, and they may have sufficient influence to defeat it. After three days of comparative quiet, as far as failures were concerned, telegrams from Great Falls, Minn., reported the suspension of the First National Bank of that town. The Union Banking Company of Portland, Oreg., also closed its doors this morning. The only encouraging feature of the day was the engagement of a considerable quantity of gold for shipment during the coming week. Lazard Freres will ship $1,000,000 from Liverpool next Wednesday. Kuhn, Loeb and Co. have ordered $250,000 to be shipped on the steamer Saale sailing today, and the Campania arrived from Liverpool bringing £53,000 consigned to A. Belmont and Co. and Ladenburg, Thalman and Co. The bank statement today was not as good as last week's, but the decrease in reserve was not so large as was expected. A summary of the statement follows: Reserve decreased, $3,045,125; loans decreased, $2,705,300; specie decreased, $1,221,400; legals decreased, $3,898,500; deposits decreased, $8,299,100; circulation increase,$110,900. General Electric was stronger today and advanced steadily from 30 to 37 3-4. Sugar lost 3 per cent, declining to 65, and Chicago Gas reached 2 1-2 to 41 5-8. In the railroad list Lake Shore sold down 2 per cent to 108 1-2, Manhattan lost a point to 104 and Western Union 1 1-4 to 68. Atchison earnings third week in July show a decrease of $92,219. The market closed without any special feature and generally at a concession from opening prices. In the London Market. LONDON, July 29, 4 p.m.--The stock market today was marked by the usual quietness that prevails on Saturdays. An easy feeling succeeded the nervousness of the settlement which closed > esterday. The satisfactory result of the settlement was obtained through much assistance given by large firms to smaller operators. There was a slight reaction at the opening this morning in American railroad securities in sympathy with the lower prices at the New York stock exchange yesterday, but subsequently the market rallied and the loss was more than recovered. The market became firm all round. A very large "bear" account is still open. Shares are scarce, and, therefore, a further recovery in values seems assured. The markets outside of that for American railroad securities were irregular. The changes, however, were not important. A fair amount of gold was bought in the bullion market for the American account. Gold to the amount of £200,000 was shipped to the United States today. 5:30 p. m.-The market closed irregular. There was little doing. but there was manifest disposition to sell. American railroad securities closed decidedly dull. There was a more pronounced weakness on the street after the official close of the stock exchange, most prices falling from 1-4 to 1-2 below those of the official close. Compared with yesterday's final prices, Louisville and Nashville was down 5-8; Philadelphia and Reading, 5-8; Lake Shore and Michigan Southern, 2; Union Pacific, 1-2; New York, Ontario and Western, 1-4, and Northern Pacific, 1-4. Wabash, St. Louis and Pacific preferred advanced 1-2. Illinois Central also showed an improvement. Canadian Pacific securities were higher on a favorable June statement. Mexican railroad securities showed advances. South American securities were firm.
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A Portland Bank Assigns. PORTLAND, July 28.-The Union Banking Company assigned today to Frank Hacheney, city treasurer. The city has $8,000 on deposit. The bank did a small business and the failure caused no stir. H. A. Hogue is president.
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Busy Times at the "Plymouth," Seventh and Robert, And heavy losses in all departments. to close out summer outfits before stock taking. THE LIST OF FAILURES. A Chippewa Falls Bank Among Those Going Down. Special to the Globe. CHIPPEWA FALLS. Wis., May 28.The Seymour bank, of this city, closed its doors this morning. Upou the door was posted the notice: "Closed on account of the stringency of the money market." It was a state bank organized in 1870. There had been a quiet run on the bank for some time, and it was not entirely unexpected. Immediately tollowing the close of Seymour's a run was started upon the First National and Lumbermen's National banks, but so far it has not proven serious. GREAT FALLS, Mont., July 28.-The First National bank closed its doors today on account of the suspension yesterday of the two Helena banks: Assets and liabilities are not given. PORT WASHINGTON, Wis., July 28.The German-American bank closed its doors this morning. The bank had been singularly unfortunate, having been caught in both the Plankinton and Mitchell bank failures at Milwaukee. L. Andier has been appointed receiver. There are ample securities, and depositors will lose nothing. MILWAUKEE, Wis., July 28.-The R. Suhm Leather company has åssigned to John J. Suhm, whose bond was fixed at $80,000. Caspar H. Kroeger, a real estate dealer, has made a voluntary assignment to W. T. Lochemes, whose bond was fixed at $8,000. PITTSBURG, July 28.-The liabilities of the American Iron and Tube company, which failed yesterday at Harrisburg, are placed at $1,250,000, with assets exceeding $2,000,000. The receivers appointed were A. S. Matheson. of New York, and R. C. Neal, of Harrisburg. The works at Middletown and Youngs, town will be kept in operation. WASHINGTON, July 28.-Comptroller Eckels is advised that the Chamberlain National bank, of Chamberlain, S. D., capital $50,000, individual deposits $15,000, failed today. NEW YORK. July 28.-The announcement of the failures of H. C. Averall and C. H. Connelly was made on the consolidated exchange just before 2 p. m. today. The liabilities are small. The failures are attributed in both cases to the decline in Sugar and General Electric. PORTLAND, Or., July 28.-The Union Banking company made an assignment today. The institution did a small business and the failure caused no excitement. FALL RIVER, Mass., July 28.-Within twenty-four hours there has been a great change in feeling on the part of manufacturers. The Weetamoe mill managers have publicly announced their intention to shut down four weeks in August, and led other men to follow their example. This morning it is reported that the Flint and American linen mills will shut down in August for a longer or shorter period, dependent wholly on the condition of the money markets. The mills are well able to meet all their obligations, but the directors feel that it is useless to pay 8 per cent for time loans to enable them to pay operatives' wages. Some of the manufacturers say they cannot get money at any percentage, and they
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FINANCIAL AND COMMERCIAL. At Portland, Ore., the Union Banking Company suspended. At Ellensburg, Wash,, the Ellensburg National bank suspended. At Chamberlain, D. N., the Chamberlain National Bank failed. At Sparta, Wis., the M. A. Thayer bank and the Bank of Sparta, both supposed to be solvent, closei Thursday. At Great Falls, Mont., the First National bank, with a capital of $200,000, suspended.
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OUT OF CASH. Many Banks in Various Localities Forced to Close Their Doors. Milwaukee, July 29.-A dispatch from Port Washington says the German American bank at that place has failed. Another special says Seymour's bank at Chippewa Falls also failed. CHIPPEWA FALLS, Wis., July 29.Seymour's bank of this city closed its doors yesterday. PORTLAND, Ore., July 29.-The Union Banking company of this city made an assignment yesterday. PORT WASHINGTON, Wis., July 29.-The German-American bank of this city closed its doors yesterday. STANTON, Mich., July 29. - C. W. Chopin & Co.'s bank here closed yesterday with a crowd of depositors at its doors. COVINGTON, Ind., July 29.-The Farmers' and Merchants' bank of this city closed up at 1 o'clock yesterday. ExUnited States Treasurer Nebeker is the president. MIDDLESBORO, Ky., July 29.-The First national bank of this place closed yesterday. GREAT FALLS, Mont., July 29.-The First national bank here suspended yesterday owing to the Helena bank's suspension. WASHINGTON, July 30.-Bank failures were reported to the comptroller as follows yesterday: First national at Kankakee, Ill.; Dollar savings bank at Youngstown, O.; Citizens' Savings and Loan association at Akron, O.; Commercial national, Ainsworth national and Portland savings banks at Portland, Ore.; Commercial at Eau Claire, First Wis.; Savings at Baraboo, W Exnational at Ashland, Wis., and change at Nunda, 111. WASHINGTON, Aug. 1.-Bank failures were reported as follows yesterday: First national at Portland, Ore.; First national at The Dalles, Ore.; Pendleton savings at Pendleton, Ore.; Bellingham Bay national at Whatcom, Wash.; Springfield savings at Springfield, Mo.; Akron savings at Akron, 0.; private bank of A. Daniels & Co. at Cedar Rapids, Ia.; private bank of J. W. Case at Astoria, Ore., and Park national at Livingston, Mont.
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THE FINANCIAL CRISIS. Banks Continue to Suspend In the West. The South Seems to be as. Solid as the North. A special from Martinsville, Ind, says: S. M. Mitchell's Bank, establi. hed here thirty years ago. backed by $500, 000, went into voluntary liquidation yesterday. There is $100,000 in its values and deposited by it in Indian apolis banks. The cause of the action, it is said, is the division of an estate. A FAR-AWAY WESTERN BANK. ELLENSBURG, WASH.-The Elleosburg National Banksuspended payment Thursday. BANKS IN WISCONSIN. SPARTA, Wis.-Two backs closed their doors here-the M. A. Thayer Bank and tbe Bank of Sparta. CHIPPEWA FALLS, WIS.-G. W. Seymour's private bank closed it doors. There are runs on all the other banks in town. PORTLAND, ORE.-The Uuion Bask ing Company has suspended. GREAT FALLS, MONT. - The First Na. tional Bank of this city suspended pay ment. ANOTHER KENTUCKY BANK. MOUNT STERLING, KY. - The officers of the Traders' Deposit Bank decided to suspend payment, owing to a heavy run on the bank caused by the suspension of the Farmers' Bank. BIDDEFORD, Mr.-The York Mills at Baco shut down Saturday for two weeks, owing to overp.oduction.
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LARGE ORDERS FOR GOLD Much of the Precious Metal Now ComIng Back from England. SYMPTOM OF RETURNING CONFIDENCE heat Reaches the Lowest Point Ever Recorded on the Chicago Board of Trade-Other Financial News. WASHINGTON, July 28.-The large orders given by New York financial houses for gold aboad to be imported is regarded at the treasury department as a favorable symptom of returning confidence. Much of the gold now coming here is the same that was exported several months ago. The heavy shipment of American cereals abroad within the past two months have materially reduced the balance of trade against the United States. Another Portland Bank. PORTLAND, July 28 -The Union Banking Company assigned today. No statement is given out for publication. A notice on the door says that owing to the withdrawal of deposits and inability to make collections the bank closed. F. Hacheney has been appointed assignee. None of the bank's officers could be found, and no statement could be obtained. The bank did a small business. It was incorporated about two years ago with a capital stock of $100,000 by H. A. Hogue, J. A. Child and R. P. Earhart. A small run was made this morning on the Merchants' National bank. It was a promptly met by the bank. It is believed the crisis is now past in this city. Wheat Reaches the Bottom. CHICAGO, July 28.-Everything traded in on the board of trade was weak today, chiefly on account of the action of the associated banks as to issuance of clearing house certificates, operators believing that it portended the fears of the financiers and further increased the monetary stringency. The wheat market touched the lowest point recorded in the history of the board of trade. September dropped to 62½. Bank Examiners in Charge. WASHINGTON, July 28.- Comptroller Eckels has placed the national banks that failed yesterday in the hands of bank examiners as follows: Examiner Weightman in charge of the Oregon National at Portland, Oregon; Flynn in charge of the Ellensburg National, of Ellensburg, Wash. Caused by the Helena Banks. GREAT FALLS, Mont., July 28.-The First National Bank failed this morning owing to the Helena bank suspensions. The assets are much above the liabilities, and it is believed the bank will soon resume. The Result of a Run. MOUNT STERLING, Ky., July 28.-The Traders Deposit bank has failed as the result of a run. The liabilities are one hundred and fifty thousand dollars and the assets $390,000. Clearing House Certificates. NEW YORK, July 28.-The clearing house committee issued two millions of clearing house certificates up to noon. The total now outstanding is twenty-five and a quarter millions. Hardware Company Fails. DENVER, July 28.-The Denver Hardware Company has failed for a large amount. - No statement is given.
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Portland, Ore., Has n Little Wrestle with the Financial Bugbear. PORTLAND, Ore., July 28.-The failures of the Oregon national and the Northeast Loan and Trust Co. Thursday were followed yesterday by a run on the Merchants' national and the suspension of the Union Banking Co. The former met every demand. paying dollar for dollar. This seemed to have a most quieting effect, and none of the other banks suffered any troubleat all, The Union is a small concern, and is thought to have been anxious for an opportunity to close for a long time because of its small business.
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Copper Mines at Copperopolis, Cal., Close Down. THE PORTLAND SAVINGS BANK. die Men on the Streets of Fresno Aid in the Agitation Against the Mongolians. Expert burglars are T. at work in the icinity of Phoenix, A. Los Angeles has passed an ordinance gainst side entrances to saloons. All the tailors at Nanaimo, B. C., are n a strike against a reduction in wages. An International Irrigation October. Congress ill be held at Los Angeles in The yard at Mare Island is gradually 1 ccumulating material for a fine shipuilding plant. The statement of the assignee of the shows nion Bank Company at Portland T '888'96$ P The estimates for the cost to the repair n e Hartfort are placed $274,738 by ashington investigating officials. Work on San Diego's harbor has been lotted to Captain S. R. Smith of PortI nd, Or., and work will be begun soon. The Sacramento chain-gang been struck 87 eight hours a day. They have and u r cked up, and will be fed on bread ater for awhile. at Over $209,000 have been spent trying DB raise the San Pedro from Brotchy be ou Now the work will have to full of q dge. andoned. The iron bottom is 47 A les. rich strike was made at the Oest The in ine at Silver City, Nev., Friday. ton. 90 erage assay value was $1,000 per will e output of the mine this month five at ceed $20,000. It is operated by ce pe en. Charles Nickel, a dudish young man for Los Angeles, has been arrested ealing letters addressed to hotel guests, did of d which contained money. He 01 t confine himself to any particular he tel. The citizens along the the Southern cessa- Pacific 84 on ast nta of line work are in Margarita the and indignant at tunnels Elwood and between the III d traffic relief. nsequent delay in giving them promOrange growers in Southern California tr: im the past season has been unprofitle. They propose to form a the co-opera47 e association and handle most of shipJO themselves hereafter. The above P ents were 6,000 carloads, 2,000 a previous season. The receiver's inventory of the that PortSavings Bank shows , ), d bank dated (Or.) holds July 27, notes while Most the aggregating of bank $50,- the sed its doors July 29. officers tes are against employes and four the bank and President Dekum's in 18. Operations in the Utah sus- Consolidated ne on the Comstock have been have la nded. Explorations in that mine twenty en in progress for the last ars, and during that time assessments lin -0.1 our uo of 0,000. Shareholders have at last ed to pay assessments. \ regularly organized band of chicken time eves has been at work for some XO the neighborhood of Sacramento. Fr bu e fowls were carried to different San points m Sacramento and shipped to nj ancisco. One of the gang was but cap- his ed on the Placerville train, federates are still at large. H "he Lighthouse Board gives notice t on September 15 a the west red-lantern I it of bor, will the and be south that the jetty in established red near light Oakland just three-quart- out- (Cal.) el the north jetty, about of the
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Nood River Glacier. HOOD RIVER. OR. NOV. 18, 1893. ALL SATISFACTORY. The taxpayers of Portland recently began an investigation for the purpose of discovering what had become of the county money. Their report appended shows where some of it is at present tocated, and it also shows that some of Portland's banks are now running on the people's money: **** Mr. Malarkey was asked what funds belonging to the county he had on hand, and he said $4,000 in the general fund and $5,000 in the school fund. The question was asked Mr. Malarkey whether he had any county funds in any of the banks. He said not a dollar. He was asked if he did not have some money that could be turned into the school fund. He answered that there was no money other than the $4,000 or $5,000. *** Sheriff Kelley said that he had not been in the habit of making out the report that the committee demanded. We inquired the amount of funds he had on hand, and he went on at great length to explain how the funds got into their present predicament, and showed the receipts for moneys turned over to the treasurer. Of the funds which have not been turned over to the treasurer, Sheriff Kelly reports $168,527.24 in the Northwest Loan and Trust company's bank, $148,717.88 in the Oregon National bank and $2,000 in the Union Banking company, in all $319,644.12. He wasasked why these funds were not available, to which he replied he could not check against them as it would close the * * banks. He said that the banks had promised io raise $50,000 by Decembea 1st for the school fund. "Sheriff Kelly incidentally mentioned that one of the banks carrying county funds sent $40,000 of the county money to Ellensburg, Wash., to hold up from insolvency their branch bank there during the panic. "Upon a second visit to Mr. Malarkey it was learned that he had some funds in a local bank. Mr. Malarkey said they were state funds. We asked him if the state treasurer had receipted for the money. He said no, but that there was an understanding between Mr. Metschan, state treasurer, and Mr. Lowenberg of the Merchants National bank, and that everything was all satisfactory." The reading was interupted at this point by a unanimous roar from the assembly. The report concluded thus: "Mr. Malarkey was asked as to the amount of the state funds, and replied $121,000. He was asked if any arrangements had been made with the bank for the payment of 8 per cent interest that the county was paying on the warrants unredeemed because of the money in the bank. He said that question had not been raised. Then the committee ventured the remark that the people had already raised the question."