Multnomah-Marion County OR Archives Biographies.....Cammack, Arch C. 1885 - November 1926 ************************************************ Copyright. All rights reserved. http://www.usgwarchives.net/copyright.htm http://www.usgwarchives.net/or/orfiles.htm ************************************************ File contributed for use in USGenWeb Archives by: Ila Wakley iwakley@msn.com January 21, 2011, 1:03 am Source: History of the Columbia River Valley From The Dalles to the Sea, Vol. III, Published 1928, Pages 729 - 730 Author: The S. J. Clarke Publishing Company ARCH C. CAMMACK. The name of Arch C. Cammack is widely known because of his prominence in the financial circles of Portland, where he is rendering able and appreciated service as president of the Equitable Savings and Loan Association, which has enjoyed remarkable growth, being now the third largest financial institution in this city. Mr. Cammack was born in Woodburn, Marion county, Oregon, in 1885, and is a son of Francis Marion and Clara (Hicks) Cammack, both of whom were natives of Iowa, the father having been born at Pleasant Home and the mother at Salem. They came to Oregon in 1880, locating first near Silverton, where the father engaged in farming, which pursuit he had followed in the east. He devoted his attention to agricultural affairs until 1883, when he moved to Woodburn and opened the Woodburn Hotel the following year, conducting it until 1897, when the town was practically destroyed by fire, at which time he moved to Portland and was here engaged in the hotel business until his death, which occurred in November, 1926. His wife died in October of the following year. Arch C. Cammack received a public and high school education in Portland, which he supplemented by a course in a business college. In 1902, when seventeen years of age, he entered the employ of the Equitable Savings and Loan Association as errand boy and messenger, and has remained with this organization to the present time. Through faithful and efficient service, he was promoted through the various positions until, in 1922, he was made president of the association, which position he still holds. This association was organized in 1890 by Finlay McKercher and is now the oldest institution of its kind in Oregon. It has enjoyed a steady and healthy growth, as may be seen by the following comparative statement of assets: 1899, $138,862.63; 1907, 82,251,616.45; 1919, $4,140,044.08; 1924, $8,262,500.22; 1926, $10,402,197.96; 1928, $12,046,714.61. The association has existed to aid and assist northwestern people to acquire homes, and has loaned over forty million dollars, with no loss to depositors. The association pays to depositors a guaranteed interest of five per cent, with a participation in profits, which has brought the average return to depositors of over six per cent. The law provides that withdrawals of deposits may be made on upon one day's notice, but this association has always permitted withdrawals at any time. It now has over twenty-two thousand depositors, from all parts of the United States. The association specializes in a "drop interest," or amortizing loan and makes loans up to sixty-six and two-thirds per cent of value, with no commission or brokerage charge. The average interest charged home owners is six per cent. In 1918 the Portland Mortgage Company was organized, with the same officers as the parent organization, and it now has assets of over three hundred thousand dollars. The association's office was originally at Second and Stark streets, where it remained for thirty years, when it came to its present location at Stark and Fifth streets. The association has bought the property at Oak and Broadway streets, adjoining the United States National Bank building, and it is planned to erect there a limit-height building in 1931. In 1911 Mr. Cammack was united in marriage to Miss Gertrude Angerstein, whose father, Captain Lewis Angerstein, of Portland, was for many years in the employ of the Oregon-Washington Railroad and Navigation Company, commanding steamships in the Pacific coast and Alaska service. Mr. Cammack is a member of Washington Lodge, No. 46, A. F. & A. M.; Washington Chapter, No. 18, R. A. M.; Portland Commandery, No. 1, K. T.; and Al Kader Temple, A. A. O. N. M. S. He also belongs to Portland Lodge, No. 142, B. P. O. E., and his name is on the membership rolls of the Multnomah Athletic Club, the Multnomah Golf Club, the Portland Golf Club and the Chamber of Commerce. In his political alignment he is a republican and has shown a live interest in public matters relating to the welfare and prosperity of his community. Because of his business ability, his sterling character and strong personality, he is greatly respected wherever known and is recognized as one of Portland's most substantial and influential citizens. File at: http://files.usgwarchives.net/or/multnomah/bios/cammack1381gbs.txt This file has been created by a form at http://www.genrecords.org/orfiles/ File size: 5.0 Kb