Multnomah County OR Archives Biographies.....Johnston, Carl H.  
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Ila L. Wakley iwakley@msn.com May 12, 2010, 6:30 pm

Source: The S. J. Clarke Publishing Company
Author: History of the Columbia River Valley From The Dalles to the Sea, Vol. III, Published 1928, Pages 279 - 280

     CARL H. JOHNSTON has gained a notable place among the financiers of 
Portland due to the remarkable growth and successful operation of the 
Prudential Savings and Loan Association, of which he was the founder and is 
now president and manager. Within the short space of four years this 
association has made progress that has been the wonder of all who are 
acquainted with its history, and Mr. Johnston is generally given credit for 
the excellent record which the institution is making. He was born in St. Paul, 
Minnesota, and received his early education in the public schools, after which 
he entered the University of Minnesota, from which he was graduated with the 
degree of Civil Engineer in 1908. He at once came to Portland and was engaged 
in construction work on the Olds, Wortman and King building. He then gave his 
attention to concrete engineering and during the ensuing five or six years was 
engaged in that line at various places along the coast. In 1917 he joined the 
Clark-Kendall Company as a bond salesman, and was later with other concerns in 
the same line until 1924, when he organized the Prudential Savings and Loan 
Association, of which he became president and manager, with C. A. De Grace as 
vice president, and these two gentlemen, with James A. C. Tait and J. H. 
Kelly, compose the board of directors. The association was first located in 
the Lumberman's building, but on the completion of the Pacific building moved 
to the splendid quarters which it now occupies. The association started 
without paid-in capital, as it is a mutual concern. The authorized capital is 
twenty-five thousand dollars, which is only paid in as its members make 
deposits and subscribe for stock. The association now has paid in capital and 
undivided profits over seven hundred and fifty thousand dollars, has about 
seven thousand customers and opens about three hundred new accounts each 
month. It draws its customers from all over the state of Oregon, British 
Columbia, where a branch office is maintained, and Alaska, though no loans are 
made in the latter territory. In Oregon the association has thirty-three 
salesmen, eleven in Vancouver, British Columbia, and three in Alaska. The 
association has thus far netted an annual average of seven and eight-tenths 
per cent, of which seven per cent is paid back to the stockholders and the 
remainder put to the surplus account. The association is a member of the 
United States League of Building (Saving) and Loan Associations and the Oregon 
State League of Building and Loan Associations. Mr. Johnston has worked 
tirelessly in the interests of the organization, in the management of which he 
has shown clear headed judgment, and he has earned a high place in the regard 
of those who know him.

     Mr. Johnston was united in marriage to Miss Katheryn Sinnott, of Oregon 
City, Oregon, and they are the parents of two children, Margaret and Carol, 
both born in Portland. Mr. Johnston belongs to the Chamber of Commerce, the 
Portland Yacht Club, the Aero Club of Oregon, the Royal Rosarians and the 
Columbia Country Club, and is also a member of the Masonic order. He is a man 
of strong personality, agreeable manner and alert mentality, and wherever 
known is held in the highest esteem.

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