Three Chicago Banks Vouch for the Company Buying Newport's Power

Following the discussion of the franchise secured by the Northern Electric Co. for a period of 60 years, questions are frequently asked concerning the financial responsibility of the company and their ability to carry out the large plans for development that are now under way. For the latest information on these points The Miner has this week letters from three leading financial institutions of Chicago, the home of the company, which are certainly flattering recommendations.

From the tenor of these letters it is apparent that Newport is exceedingly fortunate in having a company of this character enter this field, and that it will do much toward developing the country and increasing the commercial importance of our town.

THE AMERICAN TRUST SAVINGS BANK, Monroe and Clark Streets, Chicago, April 8, 1909. Mr. Fred L. Wolf, Editor Newport Miner, Newport, Wash. — Dear Sir: I understand you are desirous of knowing something of the standing and responsibility of the firm of H. M. Byllesby & Co. of this city, who are invading your territory in the matter of developing the water power and electric lighting business under the style of the Northern Idaho & Montana Power Co.

I am pleased to say to you that we have known this firm for a great many years, and they have done a successful and high class engineering business. They are interested in a great many public utility properties in other cities, viz.: San Diego, Cal., Oklahoma City, Okla., Fort Smith, Ark., and Mobile, Ala., and elsewhere. They are not only good engineers, but they are in my judgment good operators of properties, and will carry out any contract into which they may enter.

Their outside companies are nearly all corporations, and have good credit and rating of their own and do not, therefore, require the financial rating of the H. M. Byllesby Co. I understand this is true of the Northern Idaho & Montana Power Co. The same has been financed. They are people whom you cannot only tie up to, but who will make the most of every public utility situation which falls into their hands by developing it to the highest point of usefulness. Yours very truly, Geo. B. Caldwell, Manager Bond Department.

COMMERCIAL NATIONAL BANK OF CHICAGO, April 7, 1909. Mr. Fred L. Wolf, Editor and Publisher Newport Miner, Newport, Wash. — Dear Sir: At the request of Messrs. Howard, Simmons Co. we are writing you regarding their standing, as well as that of H. M. Byllesby & Co. We beg to say that Howard, Simmons Co. are valued customers of ours and we consider them high class reputable people. They carry excellent balances with us and apparently have an ample capital for the conduct of their business. We would have no hesitancy in relying on their statements of fact, and we believe them to be thoroughly trustworthy.

Messrs. H. M. Byllesby Co. are not customers of ours, but we recently looked them up and found that they were in excellent repute. They are estimated to be worth several hundred thousand dollars and have a high standing as engineers. We believe you will find them satisfactory people to deal with in every way. Very truly yours, Ralph Van Vechten, Second Vice-President.

THE MONROE NATIONAL BANK, 152 Monroe Street, Chicago, April 8, 1909. Mr. Fred L. Wolf, Editor Newport Miner, Newport, Wash. — Dear Sir: We understand that Mr. H. M. Byllesby, president of H. M. Byllesby Co., of this city, is negotiating for a local franchise in Newport.

It gives us pleasure to state that we have known Mr. Byllesby for a number of years and regard him as a man of excellent ability and high standards. He has a straightforward business record and has been very successful in carrying out the various undertakings of H. M. Byllesby Co. We can heartily commend him to any one contemplating entering business relations with him. Yours very truly, Edwin C. Brown, President.