Page:Portland, Oregon, its History and Builders volume 1.djvu/713

 er the name of

Bankers' and Lumbermen's Bank, by articles of association, jexecuted by D. C. Pelton, Robert T. Piatt and John A. Keating, as incorporators, which articles were filed in the office of the secretary of state of the state of Oregon, on the 6th day of April, 1906. The members of the first board of directors were: D. C. Pelton, F. H. Rothchild, Dr. K. A. J. Mackenzie, John A. Keating, Robert T. Piatt, Portland, Oregon ; Edward C. Mears, H. D. Story, Portland, Oregon ; and George C. Bingham, Salem, Oregon.

Lloyd J. Wentworth was elected a director June 5, 1906, and Charles S. Russell was elected a director September 4, 1906.

Bankers' and Lumbermen's Bank was converted into a national bank under the name of Lumbermen's National Bank, in June, 1908. The present officers of the bank are : President, G. K. Wentworth ; vice-president, John A. Keating ; cashier, H. D. Story. Statement of condition at close of business September i, 1910:

Resources.

Loans and discounts $2,150,444.46

Overdrafts 3,144.04

U. S. bonds to secure circulation 250,000.00

Other bbnds and premiums 203,022.03

Real estate 800.00

Furniture and fixtures 27,000.00

Customers' liabilities under letters of credit 437-8o

Due from U. S. treasury $ 12,500.00

Cash and due from banks 923,596.77 936,095.77

Total $3,570,943.90

Liabilities.

Capital $ 500,000.00

Surplus and undivided profits 58.842.40

Reserve for taxes 2,383.31

Circulation 250,000.00

Drafts accepted under letters of credit 437-6o

Dividends unpaid 78.00

Deposits 2,761,202.59

Total $3,570,943.90

GEO. W. BATES & CO., BANKERS.

Geo. W;. Bates & Co., Bankers, were incorporated April 14, 1894, by the fol- lowing, who were the incorporators and stockholders : Geo. W. Bates, William Bates, C. F. Swigert, Ida H. Gorrill and Lee HoflFman. The first board of di- rectors were: Geo. W. Bates, William Bates and C. F. Swigert. The capital stock was $50,000, and the first place of business was at the corner of Albina avenue and Russell street. In 1896 a new banking house was built at the corner of Russell and Borthwick streets, which since has been the permanent home for the office of Geo. W. Bates & Co., Bankers. On May 24, 1907, a branch of the original bank of Geo. W. Bates & Co., Bankers, was opened at Williams avenue and Knott street. On January 24, 1910, an office was opened on the west side in the Henry building at Fourth and Oak streets, which was and is at this time the main office of Geo. W. Bates & Co., Bankers. The offices at Williams avenue and Knott street and at Russell and Borthwick streets, are known as the Williams Avenue branch and as the Russell Street branch, re- spectively, of Geo. W. Bates &