Page:Portland, Oregon, its History and Builders volume 1.djvu/719

 25,875.00

F, & F 3,940.00

Cash and due from correspondents 48,773.26

Total $204,738.62

Liabilities.

Capital $ 25,000.00

Undivided profits 3,644.18

Credit letters 25,000.00

Deposits 151 ,094.44

Total $204,738.62

The present officers of the bank are as follows : Henry W. Coe, president ; A, R. Jobes, vice-president; F. P. Drinker, cashier.

BANK OF SELLWOOD.

This bank was incorporated December 26, 1907; Peter Hume, J. M. Nickum, Theo. Wolf, J. W. Campbell and D. M. Donough, being the incorporators. The present officers are: Peter Hume, president; D. M. Donough, vice-president; H. W. Tichnor, cashier; and Alice Hume, assistant cashier.

Statement of condition of its business on May 18, 1910:

Liabilities.

Capital stock $ 30,000.00

Surplus fund 660.00

Savings deposits 24,265.20

Due on certificates 26,785.59

Demand deposits 94,031.05

Certified checks 1,300.00

Interest, rents, etc., less expenses paid 1,009.34

Total $178,051.18

Resources.

Cash and in banks $ 50,078.69

Bonds 6,164.87

Loans and discounts 102,499.53

Real estate, (bank bldg.) 16,924.79

Furniture and fixtures 2,312.68

Overdrafts 70.62

Total $178,051.18

LIFE INSURANCE ASSOCIATIONS.

• Life insurance developed and worked out on definite principles, in England and Holland, is several hundred years old. But nowhere in the world has it be- come so popular as in the United States ; and here it has taken on in many in- stances the character of a speculative proposition. Vast sums have been gathered in from the confidence and desire of worthy people, to provide for those depend- ent on their lives and earning capacity, and diverted from their proper uses.

The rude shock that was given to millions of confiding policy-holders and their legatees by the exposures of the dishonesty and selfish scheming of the managers of the great life insurance companies in New York in the year 1905, most thor- oughly exposed the dishonest and selfish managers* and vindicated the honest men in t