, 1875-09-05
FINANCIAL.
Ralston Ds:aulter to an Amount Some
where Between $3.000,000
and 50, ,000,000.
A Large Oeerissue of Stock Dis
covered and Provided for.


SAN francisco, Sept. 4.-The Bulletin pub
nshed an editorial this evening in which, after
referring to the course Of the paper with regard
to the Bank Of Caifornia and Ralston, it says:
"Whon .the bank suspended last week we
though. it our duty to protect as far as possible
tho dopositors aud other creditors. Of that in
stltut,oa. We published just 30 many fscts ns
VIC believed would best scrve the purpose, and
no more. Wo then said that the failure was
owing to the Encouragement OF the late
President aud that this mismanagoment was.
in short, within the knowledge of the Directors
Tor these statements We were roundfy abused.
The vicious press undertook to marshal all cor
rupt elements against us- We we're IN posses-
sion Of facts which We could not state, because
no wero most anxious that the Directors should
it possible contrive some way of entricating
themselves. We preferred to suffer the assaults
Of enemies rather than to give the facts at o
time when they might furnish complete vindica-
ton Of our attitude towards the bank, but
might at the same time hinder and possibly de-
feat tho plans which the Directors were dovisins
tor the protection OF the creditors Of that inst-
tuition. The Directors some OF whom have al
WAYS been stanch friends of tho Bulletin. and
ere go now, have perfected their plans, and haye
settled on basis Of acton whereby every credi-
confidence both in the amity and in the good
faith OF these men. They will redeem their
pledge, and may ultimately make the
bank stronger even than the one which
suspended. 1t WAS timo that the Bulletin
should bo relieved from secrets which it has
been abused Tor seeoine.. We therefore propose
to ask couaent Of tho Bo4rd OF Directors to re-
lieye us from anv further obligation to keep
secret sono focts within our knowledge. uav-
ing done our best to protect others it IL part OF
-1t atry1c Tn
snt'Fl1sa sn.t tbs ,.ts by + Pre,ept DID, Sitaoas
the knowledge Of tha Directors. use privately
from $1,000, 900 to S4.0o0 900 Of the bauk's re-
SOURCES, which amount roma1nH unpaid This
was the canas OF the recont failure. Probably
elsewhere this would have been set down as
defalcation. We are also authorized by the
same authority to aay that there was
an overissue Of stock, which over
lssue has now been provided for, The part1cu.
lar use which Was made OF this large sum OF
money it is not our dnty to MENTION When !.
these discoveries we're made. the connection Of
tho late President with the inat1tut:on Was at
once severed Between 93, ONO. 900 and 81, ,00',-
0}1 OF money had gone nut OF the bank without
the knowledge OF single director.
It has bsap reported that the Bank OF England
was larpelv indebted to the United e.a'es Mint
hero Tho Mint had been refining for the Bank
anl the supposed Indebtedness 1t WAS thouRht)
VAS incurred through tdat channel. The Super
intendent OF the Mint states to-day that. On the
contrary tho Mint owes the Bank 600, pay
ab}a on demand.
There ia nothing new to raport in financial
circles this morning. Quiet and confidence pre-
vail. Business is moving in tbs usual manner
W4sH1so7oy, Sept. 4.-The total amount Of
gold that has boen transferred to San Francisco
banks and business men is 81, sol, 900. Another
$500, ,0o0 may be transferred on Monday. from
the bullion account OF th7 Mint.
NORFOLK. VA.
NORFOLK, Sept. 4.-Iho Mercantile Bank Of
tlis city suspended this afternoon. I,is claimed