mm on
I The following is the biennial re
Bport of the territorial banking board,
■submitted to the governor:
JUNEAU, Alaska.—Report from
■the territorial banking department is
■ not required by banking laws of the
■ territory, but following precedent of
■ report to the 1915 legislative assem
I bly, herewith is submitted report of
■ this department for the biennial peri
■ od beginning January 1, 1915, and
Bending December 31, 1916.
Statements showing condition of
I each bank under supervision of the
B territorial banking board, at close of
B business November 8, 1916, are ap
B pended to the report, as is also a
I statement showing condition in ag
I gregate of the territorial banks in
I Alaska at the close of business No
I vember 8, 1916, in comparison with
that*of November 7, 1914, this last
mentioned date being the first upon
which full statements were received
under “Call” issued by the banking
I board as required by provision of the
' banking enactment of the 1913 legis
’ lative session. This comparative
i statement shows increases and dc
creases of various amounts in aggre
gate resources and liabilities, the
changes, for the most part, being for
the better. Capital and surplus ac
counts show decreases in small
amounts, but undivided profits account
shows an increase of some $82,000.
Considered in the aggregate, however,
it can be said that these accounts are
in much more healthy condition than
when first coming under observation
of the banking board. Aggregate de
posits of all kinds have increased in
total sum of $2,820,545.60, the per
cventa#;e of such increase over de
posits of Nov. 7, 1914, being 81.2 per
cent. •
During the biennium, calls for re
ports of condition and published state
ments of same, as required by law,
were issued ori the following dates:
February 10th, May 3rd, August 7th,
November 10th, 1915; February 17th,
May 15th, August 5th, November 8th,
1916. One examination of each bank
in each year was made, as required by
law, the examiners anil hanks exam
ined being as follows: Mr. Grant R.
Jackson, of Nome, continued to act as
examiner of the banks at that place;
Mr. H. F. Yeager made both examina
tions of the bank at Iditarod; Mr. E.
H. Mack made examination of the
American bank, Fairbanks, in the year
1915, and Mr. Wallace Cathcart in the
year 1916; Mr. Nathaniel Greene, of
CordovJ, in both years again acted as
examiner of all the banks in the Third
judicial division, as did Mr. A. A.
Gabbs, of Juneau, of all the banks in
the First judicial division, with the
exception of the B. M. Behrends bank,
Juneau, which examinations, owing to
disqualification of Mr. Gabbs, were
made by the secretary of the banking
board.
During the biennium three incor
porations have been made under the
territorial banking laws, one of these
being a reorganization of a previous
ly existing institution, the other two
being new, and one of which has two
branches operating as full functioned
banks under rules and regulations of
the banking board. In the period cov
ered by this report there has been one
suspension or failure, that of the Val
dez Bank & Trust company, which re
sulted, however, in no loss to deposit
ors. It may be said therefore, that
number of banks in the territory has
i increased by three during the bien
i nium. *
The laws of Alaska relative to the
i business of banking are much more
! liberal than are similar of many of the
| states of the union, but they are not
believed to be too much so in consid
I eration of the peculiar needs of our
S territory. With the amendments
| passed by the second legislative as
sembly, session of 1915, they have
| been found to be fairly satisfactory
f with one exception, this being the
t branch*b»nking feature, and elimina
tion of which was recommended and
requested in former report of this de
partment. The original banking law
of the territory, Chapter 48, Session
Laws, 1913, the underlying principles
of which are opposed to a branch
banking system, apparently authoriz
es the establishment of branch banks
limited to functions of deposit and
discount, but just what is meant by
this limitation is difficult to deter
mine. By some it is claimed the term
deposit and discount takes in the en
tire field of banking business; others
give the term a much more limited
interpretation. Until early in the
year 1916, the question of branch
banking was not a serious one as up
to that time but one branch had been
established, this being practically only
an agency it being located in the ofTice
of a national bank to accept deposits
of time and savings moneys not de
sired by the national institution. By
banking laws of the territory the
banking board is given the power to
make rules and establish regulations
for the government of banks under its
supervision as may seem wise and ex
pedient; Provided, that no such rules
and regulations shall in any way con
flict with any of the provisions of the
law. Early in the year mentioned
above, however, a bank was organ
ized with the expressed intention of
operating a number of branches
throughout the territory, and at regu
lar meeting, held Tuesday, April 4,
1916, the banking board adopted l-ules
and regulations pertaining to the es
tablishment and management of
branch banks. Briefly stated, these
rules and regulations require that to
each branch which is located beyond
daily supervision of officers of the
parent bank, must set off the same
amount of capita! funds as would be
required by law of an independent
bank in the same location, after which
set off to all branches there must re
main for the parent bank capital
funds in such amount as would be re
quired of an independent bank in the
same location. When these capital re
quirements are complied with, branch
es are authorized to operate the same
as fully organized banks, are required
to conduct their business, carry their
accounts, and report to the board the
same as independent banks. Whether
or not the banking board has over
stepped the bounds of its authority by
adoption of these rules and regula
tions is a matter of future determina
tion. It was done to protect regularly
organized banks with required legal
amounts of paid up capital from un
fair and, possibly, unsafe competition;
also to prevent establishment of a
large number of unnecessary branch
banks about the territory and conse
quent demoralization of the entire
banking situation.
Introduction of the branch banking
system into the territory has served
to confirm statement made in former
report of this department to the ef
fect that operations of such system,
under a law the underlying principles
of which were opposed to it, was likely
to prove very unsatisfactory. Section
i 27 of our banking law requires that at
| least four reports in each year shall
be made to the banking board, verified
in the case of corporations by oath ol
; an official and at least two directors,
such report to be transmitted to the
; board within 10 days after receipt of
> notice of call, and forthwith published
in condensed form.
NOTICE.
Attention is directed to the fact that
physicians, parents and- guardians
must notify the health officer within
24 hours of the appearance of chicken
pox. This is the territorial law and
must be observed. Ther will be no ex
ceptions. C. C. BENEDICT, Health
! Officer.
*
NOTICE.
i -
A special meeting of the Episcopal
j Guild is called for 2 o’clock tomorrow
afternoon at the Parish hall. Please
be prompt.
Hiych-Wickwire and Style-Plus
Clothing, the very latest. Have you
seen them? At Brown & Hawkins.
Peterson's new solo parlors now
open. 2
Only best of everything and courte
ous treatment. North Pole Bakery. 15
I
I
WASHINGTON, April 20.—The
Vice-President and Mrs. Marshall
have been important figures in the
success of the Wilson administration.
They have made for it friends in
many directions.
Notwithstanding the exaction. of
their official position as second to the
highest in the lend, they have kept, up
all th * traditions, Curing the last four
years, of their earlier married life.
They are never apart.
If the vice-president takes the
stump in the interest of the cam
paign or a politcal measure; if he
goes off to the Pacific coast to open
an exhibition or anywhere else that
the exigencies of his life as a public
man may call, there also is Mrs. Mar
shall. Last year when she was ill in
a hospital in Indianapolis, the vice
president was not here to preside at
the opening of the congressional ses
sion. Ho remained with her until she
was able to undertake the trip to
Washington.
Devolv'd Couple.
Their devotion has become pro
verbial. Having no children, they
are able to live entirely for each
other. During the all-summer-long
sessions of congress, which have been
a feature of the Wilson administra
tion, when the average congressional
family breaks up. the men remaining
at Washington while many of the
women, especially where there are
young children in the family, going to
some cooler climate, Mrs. Marshall
has remained with the vice-president,
going away for a holiday only when
he could absent himself from his du
ties at the senate.
Except for a short time last sum
mer when they took a house on the
edge of Hock Creek park, the vice
president and Mrs. Marshall have not
had their own menage at Washing
ton. Realizing the many demands
their position would make upon them,
it was the vice-president’s idea that
Mrs. Marshall should not have the
additional burden of domestic care.
They took up their residence at the
very beginning at a hotel and have
continued the same mode of life for
four years.
Have Entertained Much.
During the last two seasons they
have had an apartment at the Wil
lard hotel. In its rose and green
drawing room, Mrs. Marshall holds
her receptions Wednesday afternoons
throughout the winter, setting the
pretty tea table in the adjoining li
brary, an apartment ordinarily set
aside for the vice-president's use and
where many momentous conferences
have been held.
Of the hundreds of calls made up
on this second lady of the land on
these Wednesday afternoons all are
returned, a stupendous task, but one
Mrs. Marshall mapped out for herself
in the beginning and which she has
never neglected.
Twice the vice-president and Mrs.
Marshall have entertained the presi
dent and Mrs. Wilson at dinner in
their apartments at the Willard, and
last winter they gave there also a
j series of diplomatic dinner parties.
' They were hosts also last winter at
several large evening receptions with
(lancing in the ballroom suite at the
hotel, the president and Mrs. Wilson
, being guests at one.
Their contributions to the gayeties
of inaugural week was a dance for
the Black Horse troop of Culver Ca
dets, who acted as the vice-president’s
' escort to and from the capital for the
; inaugural ceremonies.
Kenyon’s Rain-Proof Coats at
Brown & Hawkins. 972
! .Courtesy and Fresh Goods at
Robarts’. 984
Bread is only commodity advanced
at North Pole Bakery. 15
Life Staff on draught. Where? Only
at Peterson’s. 2
The S. S. Northwestern reached
Anchorage at 10:30 last night and
sailed for Seattle and way ports at
4:30 (his morning. Following is the
list of first class passengers for An
chorage: F. I.andin, C. A. Snow,
Miss B. Howe, Miss B. Mitchell, I. M.
Fisher, C. C. Carpenter, Ike Koslos
kv, G. E. Hodgkups, W. A. Walters,
B. Sloan, It. G. Foate, Elsie Coursen.
H. B. Raymond, Miss K. Murphy, Ger
trude Murphy, Mrs. E. Bailey, W. G.
Thompson, Wm. McKay, Mrs. G. Wal
ker, A. Ginsberg, Ed. Eichon, A. S.
Dautrick, B. R. Scribner, P. Werner,
G. B. Barber, W. R. Reynolds, J. K. |
Grover, R. R. Gaston, Jas. Gaffney, j
Mrs. Gaffney, F. I!. Cannon, P. Ste
venson, A. Stevenson, Mrs. Steven
son, A. Lean, Sidney Jacobs, W. I.in
berg, A. E. Anderson, Jas. Reid, Mrs. j
George Marshall, O. Forstrom, O.
Sluder, F. Buchler, Miss C. Carlson,
Mrs. Carlson, Chas. Luehlin, W. H.
White, A. K. Baumeister, R. Smith.'
W. Li 11, F. J. Cox, S. P. Tilden, C. C.
Harvey, J. Hale, R. Cummins.
I
The Admiral Watson reached An
chorage yesterday morning with the,
following first-class passenger list for
Anchorage:
T. Anaynos, Mrs. C. Anaynos, O.
Anderson, J. Babek, A. E. Bascon.
Leon C. Booker, Mr. and Mrs. J. W.
Bowman, Jos. A. Bourke, A. Bring
dale, P M. Brown, G. Butcher, Mr.
and Mrs. B. Clausen, Jas. Coonan.
Martin Cox, A. M. Cumber, F. Dal!
Balcon, J. Dal Balcon, Miss Dot De-1
vero, Mrs. L. I. Dudley, L. A. Dun- j
ning, M. A. Ellis, Frank Ellis, Miss E.
A. Engle, Mrs. Austin Fields, Cha.-,.
De Flon, Miss Ruby de Graff, Joe
Gerald, Miss Lydia Griffiths, Mrs. T.
E. Gaffney, E. S. Hague, N. Jurgevie,
Mrs. E. Jenkins, Dr. and Mrs. A. W.
Luders and infant, Z. F. Mayhew, Y.
Menegon, R. Moorehouse, C. Morten
sen, Miss Stella Murphy, Mrs. Millie
De Kay, C. S. Olsen, H. Osier, W. F.
Osier, .1. Delpiero, H. Pettor, Mr. and
Mrs. A. F. Panter and infant, H. L.
Reed, Mrs. F. R. Ramsey, J. M.
Schueber, C. Sandstrom, Mr. and Mrs.
C. C. Tenny, John Torgensen, Elmo
W. Smith, Mrs. E. Watson, Miss H.
E. Watson, W. H. Willis, J. Wocho
witz, Joe Whalen, Geo. Vinger and 17
steerage.
®«x5xS)«<-‘'s<sXs)(S)<2XSXsk®«SxS<5)®x£<£K5xsxsX5)<i'.^;
JUST OPENED •
| Village Inn Cafeteria j
I! At 919 5th St. West I
'•) •:
ci) Short orders and regular meals. .
(•) (•
• l.imuhuon 1 1 a. in. to 2 p. in. •
(•) •
| TABLE BOARD
® •
• Three Meals $3.7 per Month, ‘i
•/ •
•) Two Meals $2.7 per Month. !
I i
TEMPLE AUDITORIUM
A. L. U.
WATCH THIS SPACE
RECREATION
Bowling Alleys and Pool Parlors
YOUNG VIKING H. HEGSTROM
Next to Harmony Theatre.
SPECIAL PRICES
Every Saturday
---0N
Fresh Fruit and
Vegetables
COSMOPOLITAN MARKET!
Garfell & Popodopolos.
AGENT DAUTRICK. OF THE
G. N. R. R. CO. MAKING
BUSINESS TRIP HERE
A. S. Dautrick, traveling freight
and passenger agent for the Great I
Northern railway, is in town and will!
remain for 10 days or so in the inter-*
ests of business for his company.
Mr. Dautrick has been coming here
since the first tents were put up, but
he said this morning that since his
last trip the town had certainly taken
its greatest stride toward a big, live
town.
Business throughout the territory is
good, said Mr. Dautrick, and every
thing now seems to indicate a very
prosperous year, except perhaps, in
the matter of tourist travel. This
promised to surpass any previous
year up to the early part of April
when President Wilson’s war message
went to congress. Cancellation of res
ervations then came in by wire every
minute, and a few days later, after the
vote had been taken there was scarce
ly any summer travel left on the ,
books, so that he does not believe An
chorage can expect many people from !
tl*e eastern portion of the country. U
is too far from home in times when
everybody has a feeling of tenseness
although some travel from the middle
west and the coast will come but not in
any great number.
WEATHER REPORT.
7 a. m. May 14, 1917.
Station Temp. Day Wind
Anchorage 42 Cldy. S. W.
Indian Creek 50 Cldy'. Calm
Kern Creek 44 Cldy. E»st
.Mile 52 39 Cldy. Calm
Seward 45 Cldy. South
Potter Creek 40 Cldy. S. W.
Matanuska . 48 Cldy. Calm
Kings River 62 Clear Calm
Dead Horse Hill 40 Cldy. Calm
Talkeetna 48 Cldy. N. W.
Caswell 50 Cldy. Calm
7 a. m. May 13, 1917.
Anchorage 40 Clea'- Calm
Indian Creek 32 Clear Calm
Kern Creek 40 Clear Calm
Mile 52 28 Clear Calm
Seward 40 Clear North
Potter Creek 40 Clear Calm
Matanuska 40 Clear Calm
Kings River 42 Clear S. W.
Dead Horse Hill 36 Clear Calm
Talkeetna 44 Clear N.. E
Caswell 44 Clear West
Shoe Repairing. All work guaran
teed. (Jus George. Now at Brown &
Hawkins. 973
The place to meet everybody—at
Peterson's.2
The Element ot Dependability
Hvery piece <>!' merchandise in the Style Shop is the element of dependability,
which insures our patrons of utmost satisfaction. The charm of difference and new
ness which .all women like is everywhere in our stock.
The most beautiful shades of Corduroy ever brought into the city for Sport
Coats and separate Coats.
The new Flare Veil is to be hud in black and colors.
Beautiful new sheer Voiles for Cresses and Waists in plain and fancy colors.
The Style Shop
COURTESY AND QUALITY OUR MOTTO
New Masonic Block.