The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1869-10-18
A BANK PANIC,
White Pine in m intense Financial Flat

white Pine in IN Intense Financial EluIicr.
From the (White Pine Inland Empire, Oct. 7.
At about $50 O'Clock yesterday afternoon a de-
spatch was received by the agency here from this
agency of the First National Bank of San Francisco
stating that $1,000 in coin was needed below, aud
unless 1t was Immediately telegraphed the concern
there must suspend. Mr.. Gilmore, cashier OF the
Hamilton House, made an effort to despatch the
amount required, but was Informed by Wells, Fargo
" Co., that q general order had been issued for
bidding the transmission OF large sums, by
telegraph Permission was finally granted hy
W., L. u Co. to send the amount as desired but
the delay OCCasioned in teegraphng to and Iro
proved disastrous to the san Francisco agency, for
about 4'30 O'Clock telegram came announcing that
IL had closed for the want OF coin. While looks
little strange that banking institution of accre-
dited responsibility and standing should be con-
PEELED to suspend for the ptiful sum OF $4,000, we
give q statement Of facts furnished in eXplana-
ton OF the suspension by the cashier here, leaving
our readers to draw their own conclusions there
from. rumor that Nj. Harker, the President of the
concern had lost heavily IN gold specuation5, isas-
below. AS to the truth of this report are OF
course not advised; but those who claim to know as
sert that 1t is wholly groundless
The news Of the suspension in San Francisco was
received by individuals in Treasure City before /
o'clock, which caused a run OH the agency there
resulting in every dollar in coin being drawn Out A
little later the agency here Was attached and taken
possession OF by the Sheriff. The news spread
rapidly, and soon the affair was the topic Of unIVer-
sal conversation, causing the widest excitement
Quite a crowd had at one time assembled, and filed
back and forward in front OF the BANK but the Shern
having possession, nothing could he accom-
pllshed in the way OF presenting dsmaLds
DD 10 q late lOur ldSJ nl1lJ groups Oh people
were TO be seen in all parts Of the city, engaged in
earnest conversation, and thousand exaggerated
rumOrs were anoat. Should we credit al the wild
rumoTs we heard the streets, it would necessltate
the conclusion that at least five millions OF dollars
had been lost by persons whom we never dreamed OF
possessing a single "red." However, there was
much anxiety manifested IN all quarters by deposit
ors and lawyers to get out the necessary papers, ana
officers TO serve them We're In great demand Per-
sons armed with attachments rode rapidly up TO
Treasure City, in the hope OF finding something 70
seize upon whereby they might secure themselves;
ana many others came down the hill Tor the same
The first attachment served here was for $4,000;
and shortly afterwards several others, Tor shlaler
sums were laid, aggrcgaJing, up to the hour we got
our report about $4,000. In addition 10 Jh3 amount
parties owing the bank were garni3heed IN sums
ranging from $1,000 70 $4,000 All Of the attachments
placed upon the concern here were in the Interest Of
local creditors. .,
There was in the bank at this place $4,000 belong
ing to the County Treasurer $4,000 belonging 10 tlc
Court House Building Fund, and about 5000 city
money. The cashier informs as thdt Jle5G l3unJS
are ali right and being special deposits cannot De
molestcd to meet the Liabilities OF me bank
Among the many rumors prevalent Oh Jle street.
last nipht was one TO the effect thaC ciINcGS Uld
taken possession Of the bank at Austin ana We're
Uroceedmg to withdraw their deposits. Another was
mat n buggy loaded with coin left the Hamilton
reny repOrted that parties had gone OUT on hOr53-
back to recover if possible, the abScuuhg treasure.
we do not yOuch for the correctness Dt any or OAese
reports and simply give them as stree. ruhors
i'm our next issue we Will prOuaDly be enabled 10
finnish fuller particulars. MeaENh hAe we cone le,
from NH the information we have on the slblec that
ibe h.lk-cspecially the Hamilton Agency p'F-
fecty solvent and able 10 nay every dollar OF II y
buites IN chat event the suspension Wll III III. .J-
babNity be but temporary.