Portland Savings Bank (Portland, OR)

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TODAY'S FAILURES

One of the Oldest Firms in the Country. HAMILTON, Ohio, July 29.-McNeal & Urban, safe an 1 lock company, one ofthe oldest safe firms in the country assigned. The assets are $160,000; liabilitiesure unknown. The firm claims to be solvent. AKRON, O., July 29.-The Citizens' Savings and Loan association failed this morning. It will pay in full. The capital is $100,000 and the surplus $80,000. KANKAKEE, Ills., July 29.-The First National bank failed this moruing. The assets are sufficient to pay the depositors in full. PORTLAND, Ogn., July 29.-The Commercial National, Portland Savings bank and the Alnsworth National bank failed this morning. With the exception of a slight run on the First National, the largest bank in the city, there was no excitement.

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It Will Pay in Full

PORTLAND, Ore., Aug. 15.-The inventory of the suspended Portland Savings bank shows total assets of $3,014,000; liabilities, $2,475,000. The receiver states that if the bank is not crowded it will pay in full.

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suspended Portland savings bank for the removal of D. P. Thompson as receiver and the appointment of "a practical, disinterested man." Thompson was vice president of the bank. Much excitement has been occasioned among the depositors by the statement that the bank held notes dated the day before the bank

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NO DEPOSITORS WILL LOSE

Portland's Suspended National and Savings Banks Preparing to Resume. PORTLAND, Aug. 8.-The committee from the chamber of commerce appointed a few days ago to examine into the affairs of the suspended National banks in this city today obtained permission from Comptroller Eckels. The securities W ill be examined, and the committee will report a plan which will lead to the speedy resumption of the banks. All the banks are having good success in making collections, and many depositors are signing agreements to wait a reasonable time for their money. President Dekum, of the Portland savings bank, states that he is willing to put into legel form his guarantee that depositors with be paid in full. The resignation of D. P. Thompson as receiver has not yet been accepted, and it is probable that the court will allow him to remain.

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PORTLAND BANKS

The Chamber of Commerce Looking Into Their Solvency. PORTLAND, Or., Aug. 18.-The committee of the Chamber of Commerce appointed a few days ago to examine into the affairs of the suspended national banks of this city to-day obtained permission from Comptroller Eckles to proceed. The securities will be examined and the committee will report on a plan which will lead to a speedy resumption by the banks. All the banks are having good success in making collections and manv depositors are signing agreements to wait a reasonable time for their money. President Delkum of the Portland Sav. ings Bank states that he is willing to put into legal form his guarantee that the depositors will be paid in full. The resignation of D. P. Thompson as receiver has not yet been accepted, and it is probable that the court will allow him to remain.

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MORE BUSINESS FAILURES

Several Large Concernsin the East Forced to Assign. PITTSBURG, Aug. 17.-The Oliver Iron and Steel company, one of the heaviest concerns in the country, today went into the hands of a receiver. The capital of the company is $1,600,000, and the apparent indebtedness is $600,000. The bonded indebtedness is $585,000. First National Bank of Dubuque. DUBUQUE, Aug. 17.-The First National Bank, one of the oldest institutions in this city, with a capital of $200,000, euspended this morning. The last statement showed half a million dollars deposits. A Large Wagon Company Assigns. CINCINNATI. Aug. 17.-The Standard Wagon Co., the largest company of its kind in the United States, assigned this morning to Grant H. Burrows. Assets, $120,000; liabilities, $700,000. Depositors Want a Piedge. PORTLAND, Aug. 17.-At a meeting of the depositors of the Portland Savings Bank, held this afternoon, a motion was adopted to appoint a committee of five to wait upon all the stockholders of the bank and ask them to pledge the depositors that they will receive their money in full. Receivers for the Northern Pacific. PORTLAND, Aug. 17.-In the United States circuit court today, W. H. Payne, T. F. Oakes and Henry Crouse were appointed receivers for the Northern Pacific in the State of Oregon. Their bonds were fixed at fifty thousand dollars. A Denver Bank Reopens. DENVER, Aug. 17.-The Bank of Commerce reopened today with almost a hundred per cent of its liabilities on hand. Three more of the suspended banks are expected to open by September 1st. Mr. Thompson Resigns. PORTLAND, Aug. 17.-It is reported this afternoon that David P. Thompson has resigned as receiver of the suspended Portland Savings bank. E. J. Northrup is mentioned as bis sucessor. How It Affects Exchange. LONDON, Aug. 17.-The action of the government in lowering the price of India council bills has caused a great awakening in exchange here today. A National Bank Resumes. DENVER, Aug. 17.-The American National Bank resumed business this morning.

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Portland's Suspended Banks Solvent

PORTLAND. Aug. 28. - [Special.] - The Chamber of Commerce, before indorsing the report of Bank Examiner Wightman as to the solvency of the four national banks which suspended over a month ago, appointed a commission to examine the affairs and securities of the banks. This commission reported at a special meeting of the chamber this evening fully indorsing the solvency of all four banks, and the chamber recommends depositors to grant an extension of time for payment of their claims and that debtors pay their indebtedness, as far as is practicable, at once. All four banks will resume very shortly, the chamber agreeing to receive their certificates to a reasonable extent in the way of business for the time being. The directors of the Portland Savings bank have requested the clearing house to appoint a committee to examine its affairs and make an official report on the value of its securities. If this report is favorable the bank will reopen, issuing certificates guaranteed by President Dekum. This request was indorsed by the Chamber of Commerce. There is a general feeling that a solution of the financial troubles here has been reached and that confidence will be restored at once.

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THE PORTLAND SAVINGS BANK

Not Able to Open Because Some Depositors Are Greedy. PORTLAND, Jan. 31.-[Special.]-The Portland Savings bank, which suspended six months since, will not resume business tomorrow, as was hoped, but the receiver will pay a 10 per cent. dividend on all deposits. Of the $2,400,000 of deposits, extensions had been signed by all but $700,000, when a report was circulated that the bank would resume on February 1, and the depositors stopped signing, and brokers were buying deposits at 90 per cent. of the face value. A number of the largest depositors, who are able to wait, would not sign, and were ready to rush in and draw all their money. This was not considered fair to those who bad signed extensions, and the court ordered that 10 per cent. of the dividends be paid to all depositors. The bank will open for this purpose tomorrow morning. The courts will not hasten to throw the bank into liquidation, and it is hoped that arrangements will yet be made to enable it to resume business, as the assets are ample to pay all depositors if reasonable time is given.

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Dividend for Depositors

PORTLAND, Or., Jan. 31.-The receiver of the Portland Savings Bank will to. morrow declare a 10 per cent dividend ou all deposits.

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Spokane has a Cultus club

Do you dance? If not watch those who do at the ball of the East End hose company. They're all going. An old gentleman named Ordway, who has been sick for a long time, died in Hood River on Monday and was buried Wednesday. The Diamond mills have shut down for a short time for the purpose of lining up machinery and making some slight repairs and changes. The "geography" party occurs tonight at Fraternity hall. It is rumored that some of the localities to be used will be far fetched, but nothing under 12,500 miles. The Union Republican has brought out the name of Hon. J. A. Wright of Sparta for gubernatorial honors, and calls him "Eastern Oregon's favorite son." Billy V. gave the business away this morning. In a conversation referring to its profitableness he said: "You can't run a dairy ranch without plenty of good water" (for the cows.) The Union Pacific company are storing large quantities of coal at this point. A force of fourteen men are now at work. There is at present between 1,200 tons and 1,500 tons in the yard. We are in receipt of No. 2 of the Midland Monthly published at Des Moines, Iowa. It is very neat typographically, well illustrated, and its contributions are from the pens of well known authors. The Portland Savings bank opened yesterday for the purpose of paying depositors a 10 per cent. dividend. There were more present than could be accommodated, and several days will be required to pay all who are anxious to get their money. The '94 social club gave a banquet at the Columbia Candy Factory last evening. About thirty-seven were present. Oysters were served the entire party inside of two minutes by Sam Campbell, while Newt. ladled out the soup in the culinary department. The absence of Pease & Mays advertisement during the past month has

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The Late Frank Dekum.

A Portland reader of the POST-INTELLIGENCER, one who knew the late Frank Dekum, the Portland pioneer and banker, more than a score of years, takes exceptions to the statement that Mr. Dekum was not progressive and did not improve his property as promptly as his neighbors did theirs: The Portland man writes:

"The exact reverse of this statement is the truth. Mr. Dekum was one of our most progressive citizens, especially in the matter of building. The Dekum block, one of the finest in the Northwest, is only one of his efforts in that line. Long ago he put up one of the best buildings on First street, and another on Washington street. The only other citizen who equaled him in this respect is Hon. H. W. Corbett. Mr. Dekum has taken an interest in all public improvements, especially the water works, public parks, introduction of song birds, contributing his time and money with a liberality exceeded by none. He has been very unjustly blamed on account of the suspension of the Portland Savings bank, for which he was not responsible, and has been obliged to bear all the abuse and worriment caused by that affair, which others should have shared with him, and which would all have been avoided if these men would have done what he was willing and anxious to do."

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A SAVINGS BANK FAILS

The Trouble Precipitated by Death of the Institution's President. PORTLAND, ORE., November 20. - The Portland Savings Bank failed to open its doors this morning. The lack of public confidence and unremitting withdrawals of deposits are given as the reason for the closing of the bank. O. N. Denny has been appointed receiver, and the bank will go into liquidation. The assets of the bank are given at $1,650,000; the liabilities at $1,430,000. The closing of the bank was doubtless precipitated by the death of Frank Dekum, the president, about a month ago. The bank first closed its doors in the panie of 1893, but resumed in May of this year, under an agreement with the depositors that they, were to draw out quarterly 10 per cent. of their deposits. Many depositors refused to sign off under any conditions, and withdrew their deposits when the bank resumed, materially aiding the present suspension.

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A Bank Failure, Portland, Ore., Nov. 20.-The Portland Savings bank failed to open its doors this morning. The lack of pubHe confidence and uncessing withdrawals of deposits are given as reasons of the closing of the bank. O. N. Denny has been appointed receiver and the bank will go Into liquidation. The assets of the bank are given at $1,050,000;

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fort was made to effect a re-organization, but it was unsuccessful, owing to the general apathy of capital to invest in any enterprise. Now no further effort will be made to recuperate the affairs of the bank. It will never again be opened, and the receiver will be permitted to pay dividends to depositors as rapidly as he can realize on the assets. The Portland Savings Bank was established in 1881, with a capital stock of $200,000, in a building at the corner of First and Ash streets. Later the capital stock was increased to $280,000, and the bank removed to its present site, corner of second and Washington streets. It was during the panic of 1893, on July 27, that the bank first closed its doors. Mr. D. P. Thompson was appointed receiver, and as the result of his efforts, the bank resumed business May, 1 of this year, under an agreement with the majority of the depositors that they were to draw out, quarterly, ten per cent of their deposits, and no more. While this was the general agreement, many depositors signed other agreements to allow their deposits to remain undemanded for longer or shorter periods of time. Many depositors who refused to sign off under any conditions, withdrew their deposits as soon as the bank opened its doors, and their action aided materially in precipitating the suspension. Four payments of ten per cent each, were made to those depositors who signed off under the quarterly payment agreement. The Portland Savings Bank, at one time, had close relations with the Commercial National bank, but the fatter, under its reorganization, has no business connections with the Portland Savings bank. The main financial interest in the Commercial National is now the great Wells-Fargo bank, of San Francisco.

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SAVINGS BANK FAILS

A Run Given as the Reason For the Closing of the Doors. Portland, Or., Nov. 20.-The Portland Savings bank failed to open its doors this morning. The lack of public confidence and unremitting withdrawal of deposits are given as reasons for the closing of the bank. O. N. Denny has been appointed receiver and the bank will go into liquidation. The assets of the bank are given at $1,650,000; liabilities, $1,430,000. The closing of the bank was doubtless precipitated by the death of Frank Dekum, the president, about one month ago. The bank first closed its doors in the panic of 1893, but resumed in May of this year under an agreement with the depositors that they were to draw out quarterly 10 per cent. of their deposits. Many depositors refused to sign off under any conditions and withdrew their deposits when the bank opened, materially aiding the present suspension.

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The Portland Savings bank has again closed its doors. This bank closed first during the panic of last year, but opened again last April. There has been a steady withdrawal of deposits ever since the bank reopened, and the bank finally had to succumb.

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COULD NOT KEEP UP

The Portland Savings Bank Closes Its Doors. Portland, Ore., Nov. 20.-The Portland Savings bank failed to open its doors this morning. The lack of public confidence and unremitting withdrawals-of deposits are given as rensons for the closing of the bank. O. N. Denny has been appointed receiver and the bank will go into liquidation. The assets of the bank are given at $1,650,000, liabilities $1,430,000. The closing of the bank was doubtless precipitated by the death of Frank Dekum. president, about one month ago. The bank closed its doors in the panic of 1893, but resumed in May of this year under an agreement with the depositors that they were to draw out quarterly 10 per cent. of their deposits. Many depositors refused to sign off under any condition and withdrew their deposits when the bank opened, materially aiding the present suspension.

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The Portland Savings bank, by O. N. Denny, receiver, vs. Thos. H. D. Cew et al. Scottish Investment Co. vs. Wm. N. Ladue. Peter Zielinski vs. Wm. P. Miller et al. Alexander Turcotte vs. Zenaide DuRette et al.

DIVORCE.

Mary E. Cooper vs. Alexander Cooper. Louise Kampman vs. Wm. Kampman. Cora A. Wilson vs. J. A. Wilson. N E. Marchbanks vs. J. H. Marchbanks. S. Ethel White vs. W. A. White. John Boyce vs. Emma Boyce. Mary E. Swartz vs. Alonzo Swartz. The remainder of the docket in this department shows the following suits: State of Oregon vs. First National Bank and Ladd & Bush, escheat; two cases. G. W. Dimick vs. Emma Storts et al.; suit to foreclose mechanic's lien. Jessie A. Rohrer vs. Chas. F. and Isabel Simon; suit in equity to set aside fraudulent transfer to real property. Paul J. G. Kleppin et al. vs. J. M. and H. F. Wallace et al.: equity. State of Oregon ex rel Chas. H. Dodd & Co., vs. Al. Moisan et al,; contempt of court. Sophia Peterson vs. Erick Peterson; partition. J. A. Baker vs. Williams & England Co., H. P. McNary, receiver; receivership. G. W, Dimick et al. vs. Amos Strong et al.; mandamus. George W. Dimick et al vs. J. H. Fletcher et al.; equity. John Ryan vs. J. E. Eldriedge et al.; equity. W. M. Wirt vs. Oregon wholesale Nursery Co.; receivership. Trustees of Willamette University vs. John Knight, sheriff; injunction. Bozorth Bros. vs. Paul J. G. Kleppin et al.; equity. C. Marsh vs. James E. Eldriedge et al; foreclosure of mechanic's lien.

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PACIFIC COAST BONDS

Frederick Pettibone, cashier of the Fairhaven National Bank of Fairhaven, Wash., advertises that upon October 4 he will sell in the name and in pursuance of the order of the board of directors of the bank a sufficient number of shares to make good the deficiency of $15,000, or such part of the original deficiency of $15,000 88 has remained unpaid since notice was given in January by Comptrolle r of the Currency of an assessment of $30 per share. As a matter of fact most of the assessment has been paid, but something like 150 shares are declared delinquent at this time. Receiver Tillinghast of the Columbia National Bank of Washington has filed notice in the United States court that he will compromise the account of $2000 owed to the bank by Lawrence Bros. State Treasurer Bowen had $10,000 in the bank, and he and other large creditors have been notified. The Linn County National Bank of Oregon has paia all depositors their principal in full, and they will now receive 5 per cent in addition, in accordance with an order issued by Comp:roller Eckels that a 5 per cent interest dividend should be declared. There are suits pending which, if settled in favor of the bank, may add from 1 to 13/4 per cent more to be paid on interest. A statement concerning the affairs of the Portland Savings Bank has been filed by Receiver Denny, from which it appears that there is due the depositors about $1,100,000, and according to the Portland Oregonian, after Wells, Farzo & Co. have been settled with there will be $1,000,000 assets left for the benefit of the depositors. Four dividends have been declared since the bank falled-three by the bank directors and one by the court. he West Philadelphia Title and Trust Company has brought suit against the city of Olympia, Wash., and others, to obtain an amendment to the decree issued by the Superior Court to enjoin the city from paying out $800 worth of warrants issued to I. Liberman in payment for grading on one of the city streets. The complicationsen the case are of little local interest here. but the position of the Philadelphia company is, as alleged, that they were innocent purchasers of the warrants: that the work for which the warrants were issued was done: that the city receiv. d the benefit therefrom, and that it should pay the warrants. Bids for the Anaheim bonds will not be opened until October 13. The Los ngeles Times has interviewed many prominent people in Los Angeles concerning the influence of free silver on contracts and investments. W. C. Patterson, president of the Cham-

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PAYS A DIVIDEND Portland, Or., September 8.-The circuit court today granted the receiver of the Portland savings bank authority to pay a 5 per cent dividend.

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Richard Nixon, receiver of the Portland Savings Bank, was in the city yesterday.