of corpora-
tions. J. Frank Watson, president; R. L. Durham, vice-president; Wi. H. Fear, secretary; S. C. Catching, assistant secretary; O. W. T. Muellhaupt, cashier.
Statement of conditions at close of business September i, 1910:
Resources.
Loans and discounts $282,758.84
Oveirdrafts None
Bonds and securities i74'597-54
Real estate 32,854.25
Cash and due from banks 198,332.10
$688,522.73 Liabilities.
Capital $150,000.00
Undivided profits 42,574-35
Deposits 495,948.38
$688,522.73
UNITED STATES NATIONAL BANK.
The United States National Bank has grown out of the Ainsworth National Bank, organized October 27, 1885, by John C. Ainsworth, L. L. Hawkins, L. F. Grover, W. K. Smith, and Preston G. Smith, with L. L. Hawkins, president, and J. P. Marshall, cashier.
The bank was named in honor of Capt. J. C. Ainsworth, founder of and always president of the Oregon Steam Navigation Company noticed at length in chapter XV; and continued under the management of Mr. Hawkins from 1885 until January, 1896, when J. C. Ainsworth was made president.
On October 31, 1902, the bank was amalgamated with the United States National Bank, which carried the business of both the former institutions down to the present writing.
The United States National Bank was organized January 5, 1891, by Donald MacLeay, Jacob Kamm, J. E. Haseltine, Rufus Mallory, Kenneth MacLeay, F. C. Miller and George W. E. Griffith, with Donald MacLeay for president, J. E. Haseltine, vice-president and F. C. Miller cashier. The bank continued under practically the same management, Tyler Woodward serving as president for a term, until October 31, 1902, when it was amalgamated with the Ainsworth National Bank, the controlling interest therein being at that date purchased by Mr. J. C. Ainsworth and his associates; and on the same date Mr. Ainsworth was elected president; W, B. Ayer, vice-president; F. C. Miller, cashier. On January 20, 1903, Mr. Miller resigned as cashier, and Mr. R. W. Schmeer was appointed in his place, and has continued to serve as such officer until the pres- ent writing. The president of this bank is a son of Capt. Ainsworth.
On May 31, 1905, the business of the Portland branch of Wells, Fargo & Co.'s Bank was absorbed by the United States National, and the following offi- cers elected : J. C. Ainsworth, president ; R. Lee Barnes, vice-president ; R. W. Schmeer, cashier; A. M. Wright and W. A. Holt, assistant cashiers, which are the officers at present.
Statement of business at close of day, September i, 1910:
Assets.
Loans and discounts $ 6,672,650.54
United States bonds at par 1,054,100.00
Municipal and railway bonds 9
