Lewiston teller. [volume] (Lewiston, North Idaho) 1878-1900, 1884-02-21
BAD IMPRESSION OF OREGON a
FINANCES.

SAN FRAxclsco, Feb 12.-The as
Segment Of Foster 4 Co. Of Albany has
occasio~ed much comment here, and the
deepest anxiety is already generally fe!.
respecting Oregon accounts. An i'm
preston prevails that business in Oregon
Is in great distress. and prominent
wholesaler said to tn, Oregoninn cor
respondent TO-DAY that he should not
send travellers north this year, bocause he
did not want Oregon business "whi. .
matters arc in their present shape" Thi.
feeling arises from Misunderstanding of
affairs. Thu failure of Willard and the
collapse of his enterprises are understood
TO have affected the country more serious
~ than it has in fact The idea prevails
that Oregon has SCOT black eye" and
business men mere are afraid to venture
large sccounts there. In connection
with the Fo.t.r failure. news came t'lat
the firm, though perfectly solid. was un-
able to borrow so small a sum as $40, 900
At Portland b. nts, and this is Tn Ter
stood to mean that Portland banker. are
afraid to trust III ir money out of their
own hands, and it is cited as crcum-
stance confirming the impression above
refcrred to Of tn. country's distress The
mortgage tax law. the real cause of the
trouble, is not understood here. and the
credit Of the northwest in San Francisco
poorer now than at any former time
It seems from the above that Oregon
il now under cloud of doubt as to its
flancial status with California. It is
barely possible there may be some sour
grapes in this thrust at the soundness of
the business mon Of the State, as it is
known that quite large portion of the
dealers in Oregon, have sought pastures
new, wherein to make their purchases
since the opening of the Northern Pacific
This makes the prospects of San Francis
CO business in Oregon much more dim
than formerly, and mercantile agents from
the Bay City fad their pickings far less,
yet We do not learn of but little dcfalca-
zion 81 Oregon merchants in paying their
San Francisco bills at maturity, and hence
because they do not grasp so grecdily to
make purchases Of these mercantile agents
OF California, as formerly, it constitutes
nogood reason for these mercantile agents
to represent the people of Oregon as
about to 90 isto bankruptcy. But of one
thing there Is certainty, and that is the
mercantile and business men of Portland,
during the gloses Of Willard, allowed him
70 play with their surplus capital, about
tho same as Delllah did with locks Of
Sampson and since the collapse Of Willard,
such reaction has taken place that mont
cd men have drawn their purse strings
very closely, and all classes have found it
difficult to make these changes and trans
1sss Of property, to sufficient extent to
put money in circulation and make it so
easy Of access fur general business MS form
crly. Bnt that a drain Of six or seven
million dollars is going to swamp Oregon
Is an assertion or even suspicion that in
our opinion, is unwarranted by any facts
in the resources Of the country. The
present condition Of things may and should
induce more rigid economy, among deal.
ers and consumers, till what little has
been lost shall be regained and health
isr eondition and practice in expenditure
shall become generally prevalent, not only
in Oregon but also in Washington and
North idaho. The demonstrations made
by the San Francisco dealers in all this
Northwest country, through their travel
ling commercial agents, during the two
or three years last past has been to actu-
ally crowd the country with goods, far
beyond fhe necessities Of the country, and
At prices sufficiently higher than what /
the same houses would sell their goods
upon orders Of our regular home dealers
- cover oil the expense OF sending their
agents out to urge the goods upon the
homo dealers, AMI this excess has to be
paid BY the consumer, while the home
dealers makes no more ahau be would by
dealing directly with these houses rather
than through travelling agents, and if
these San Francisco houses find that their
agents are doing less than formerly, they
may all adopt the same purpose of whole
saler mentioned in the quotation, to send
no more agcsts north, and not only Oregon
but Washington and Idaho will be great
y the gamers, and they themselves will
not need to have sleeplcss nights for fear
the people Of the Northwest will not pay
them tAeir Halls California has reaped a
rich harvest from fhcNorhwest, and that
State has no cause for complaint nor reas-
on to doubt her integrity or ability to
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