Page:Portland, Oregon, its History and Builders volume 1.djvu/718

 2.91 12,172.91

Individual deposits subject to check 319,481.24

Demand certificates of deposit 36,420.21

Time certificates of deposit 27,982.62

$446,056.62

THE CITIZENS BANK.

There is another bank on the east side known as the Citizens Bank, organized August 8, 1890, by J. H. Lambert, Cyrus Buckman, A. W. Lambert, W. W. Thayer, and E. M. Sargent. It furnishes no statement of its affairs, and the character and extent of its business is unknown.

THE PENINSULA BANK.

The Peninsula Bank of St. Johns is the pioneer bank of that city, and of the large region known as "The Peninsula." It was established in 1905 with a capital of $25,000, which was increased to $50,000 in 1910. Many of the stockholders are interested in the lumber and timber interests of Oregon, although residents of Michigan ; and this bank has been instrumental in bringing a large amount of capital to Oregon and investing it at St. Johns, and other points giving employ- ment to large numbers of people. During the financial trouble of 1907 the bank carried itself and patrons through without closing its doors, without outside trouble, without "clearing house scrip," and without calling a loan. The officers are, J. W. Fordney, president ; R. T. Piatt, vice-president, and C. A. Wood, cashier.

Statements of condition of bank at close of business April i, 1910:

Loans and discounts running for over 90 days $ 24,601.69

Loans and discounts running for 30 to 90 days 54,546.41

Loans and discounts convertible into cash on demand 106,724.08

Furniture and fixtures 3,036.45

Cash on hand and due from banks 59470-53

Total resources $248,379. 16

Liabilities.

Capital stock fully paid up $ 50,000.00

Surplus fund and undivided profits less all interest, expenses and taxes

paid 7,209.69

Deposits 191,169.47

Total liabilities $248,379.16

THE FIRST NATIONAL BANK OF ST. JOHNS.

The charter for the First National Bank of St. Johns, was granted on Feb- ruary 28, 1908, same being No. 9,047.

The bank opened on March 9, 1908, with capital at $25,000.00.

First board of directors was as follows: Henry W. Coe, Charles W, Sher- man, Robert M. Tuttle, Willard S. Hauser, Frank P. Drinker.

We present herewith a condensed report of its financial standing at this date, May 25, 1910:

Assets.

Loans and discounts $126,150.36

U. S. bonds