Evening star. [volume] (Washington, D.C.) 1854-1972, 1904-09-21
CITY Of PORTL AND
Its People Are Famous for
Their Cooperation.
ACONSERVATIVE PLACE
COMMERCIAL TRIUMPHs CREDIT
ED TO FOUR MEN.
Population Increasing at the Rate OF
Ten Per Cent Per Annum-Volume
of Trade Growing More Rapidly.
BY WILLIAM q. CURTIS.

PORTLAND, Ore, August 20. 1901.
Portland is going to attract good deal
of attention during the next year OF Two
because an international exposition is to
be held here in the summer of 1908 TO cele-
brate the centennial anniversary of the eX-
nedition of Lewis and Clark during the ad-
ministration of President Jefferson. The
preparations for that event are very well
advanced. The landscape gardening on the
grounds is about completed, the buildings
are in course of erection, and 1t looks very
much as If everything would be ready on
time but L will tell you more about the
details in another letter.
The people of Portland have always been
famous for pulling together. The city shows
the consequences, and public-spirited citi-
zens in other towns would do well TO STUDY
the methods and the means by which the
individuals and commercial associations
have secured for Portland the unique and
commanding position it occupies. portland
is called conservative because IL mas never
been the scene of sensational events De
cause its bank settlements are still made
daily in gold coin, and not in paper; be-
cause other old-fashioned methods are IN
vogue here and wildcat enterprises are
frowned UPON While the western spirit
prevails. and the enterprise of the people
is unlimited, their prudence foresight and
DISPOSITION to consider. consequences remind
Won of Philadelphia, Baltimore and the
cities of New England. There is very
strong resemblance between Portland Ore
gon. and Portland Maine, although the
climate of the two places Is as diferent
as that of the tropics and the polar regions.
Portland's Wealth.
The people of Portland are in the habit
of financing their own schemes. When the
organizers of the Lewis and Clark exposi-
ton decided upon their plans they raised
all the money necessary in two days with
tIa h,,Si ~
city When the government of the United
States neglected TO remove bar that IN
terfered with the commerce of the Columpla
river the citizens of Portland subscribed
the necessary funds, and more than 1880
O0o has already been spent upon the work.
The bankers tell me that they have
$50 CJOGCo of Portland money on deposit;
that Portland is of the richest cities IN
the United States per capita of population,
and ranks with Hartford, Springfield Mass,
and Providence in accumulated wealth
In half a century, by the development OF
the natural resources of the state, Port
land has accumulated great wealth. She
has many rich men, and. l am told, more
millionaires than any other city OF her
population in the United states. mus sIe
is able not only to finance her own schemes
with local capital but has large amounts
invested elsewhere in oregon, washington
Idaho and other parts of the west
The true valuation of property is APP
proximately $3.50 900. 600, and. on basis or
12OGGO population, this gives per capita
wealth of 60. OS3. which is exceedingly nigh
and cannot be duplicated IN any other city
west of New York
Corbett and Failing.
Four men, all of whom have passed
away are credited with the commercial tri-
umphs of Portland and to them the hnan-
ciaI stability of the city is chiefly due
They are Henry w. Corbett Henry Fall
ing William s. Ladd and Cicero II. Lewis.
hor in bOrO'. Mass,
in 1927. and when thirteen years old became
a clerk in the village store. Four years later
with a ca pital of $40 he went to New YORK
and worked as a clerk In dry eoous
house In 1850 he commanded credit
enough to secure a stock of goods and
sailed for Portland via Panama. where he
arrived in the spring of 1851 and opened
general merchandise store He soon pc
came the leading merchant on this coast
and extended his business in every direc-
ton Between 1853 and 1868 he made
thirteen business trips to New York, going
each time by the isthmus route In lS69
with Henry Failing he bought controlling
interest in the First National Bank OF
Portland and made it what 1t now Is. one
of the strongest financial lnstltutlons In the
United States. He was Interested IN many
other enterSrises, all of which prospered
and brought him wealth and lame ana IN
Nuence He was the father OF the Lewis
and Clark exposition, for without his moral
sunport and financial backing the scheme
would never have been undertaken FOR
several wears Mr. Corbett was power IN
politics, although he never neiG o9t ol,e
States Senate the year after the war. he
died March 81, 1903 leaving one or the
largest fortunes on the racine coast, wNitn
was not accumulated by speculation or by
the discovery of mines. but was the result
of industry. prudent management and wise
foresight. ~
n native of New York city, who began his
business career at the age or twelve years
as an office boy. When he was seventeen
wears old he came out to oregon, Went INTO
business and afterward Joined Mr.. Cor
bett in mercantile. banking and other en-
terprises by which lie also amassed an
enormous fortune. During the early part
of rho war he was chairman of the COM
mittee which kept down the secession ele-
ment and carried Oregon for the t1on
against the democrats. He was twice
mayor in 1864 and 1873 and was the fore
most leader IN municipal improvements
He helped to give Portland the hnest water
eupply in the United States. to which Is
attributed the low death rate of the city
81 per 1000 of the population last year.
claimed to be the lowest OF any city OF
similar popula ton in the world. Mr.. Fail
ing died in 1895.
Lewis and Ladd.
Cicero II. Lewis came to Portland on the
same vessel with Henry Failing. and went
into the grocery business, in which he
made handsome fortune. He was a ma
tive of Cranbury, n. j., the son of a farm
er. but when he was twenty years old he
went TO New York city and obtained
position I'm store There he gained a
thorough knowledge of the mercantile BUSH
ness. He was a broad-minded, far-sighted
man, interested in many important enter
prses and leader in public improvements.
The fourth and one OF the ablest of the
group of pioneers who led and directed the
development of this part of the country
was William S. Ladd. He was Interested
In almost every kind of business that tend
ed TO upbuild the northwest, farming, bank
ing numbering, shipping, manufacturing
transportation. building. colonizing. i'm
porting blooded live stock and In the i'm
provement and settlement OF farm lands
Many people consider him the ablest fnan-
cier the northwest has yet produced, and
one Of the greatest In the country. he