The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-10-19

FLOORS.
[san Francisco Cor. (Oct. A. of Chicago Times.]
The Bank of Nevada threw open its doors
At 10 o'clock a great crowd surrounded the
magnificent new building which Flood &
O'Brien and their partners, Mackey and Fair,
have erected on Montgomery street, and when
the doors were opened great cheer arose
from the assembled tbrong. This is simply
characteristic of Californians who are over en-
thusiastic on any event which is identified
with the prosperity Of their State.
This new enterprise of the mining prince of
the Pacific Coast is not strictly commercial
bank. Although it will receive deposits and
ex end accommodation to merchants, this
will not constitute the main s:ope of lis bust
ness. 1t is more particularly intended as
bank to loan, in which money can be OBJ.
tanned on good mining stocks as collateral
security. This is a species of security which
most banks in the city refuse, as speculation
makes the fluctuations in its value SO great as
to render it unsafe as an investment for de-
positors' money. Flood & O'Brien, however,
are the kings of the mining spectators on
the Pacific. few years ago these men
RAN A SMALL GIN MILL.
To-day they control the Consolidated Vir-
ginia and California Mine-the Big Bonarza-
month, and the other will soon produce an
equal amount. The history of this sudden
accession to fortune is a wonderful one, and
they are to-day probably the wealtbisst men
on the Pacific coast. 1t seems as if they are
determined to pursue their fortune, and got
possession if possible, OF all the mines on
the Comstock lodes.
By loaning money on bypothecated stock
they may be able to do this through the mis-
fortunes of the hypothecators and this is be-
ieved, by the knowing ones, to be their main
object in opening the Bank Of Nevada. How
ever this may be, the opening Of thenew bank
was grand success, if beautiful counting
room and an unlimited supply of gold coin
can make success. think I never saw a
more elegant clearinghouse, or a greater
amount of gold coin. There it was, piled on
the counters, sparkling double eagles by the
thousand The capital of the bank is S., 000,-
900, and it was in full view in solid coin
which does not need to be redeemed. Ia ad-
dition 20 the tray of coin which covered the
counters,
HUGE BAGS OF GOLD
we're strewn around the floor, in front of the !
iron massive safes which were thrown wide
open for inspection. One could almost i'm
agine that he had suddenly stepped into
Aladin's cave, and was surrounded by the |
wealth of a nation. There was the coin, |
enough to enrich thousands Of the suffering, |
and make happy hundreds of thousands Of |
our fellow creatures but it all belonged to
four men, and these four men are still piling
up their wealth by the million. It is the |
money which is eventually to flow to the
East, and hasten the resumption of specie
payment.
The scene was very diff rent from that
which signalized the reopening Of the Bank
of California last Saturday. The crowd was
as great, and as much enthusiasm Was mani
tested when the big doors swung open, but
the throng was composed merely of curious
lookers-on. No huge bags of gold were
emptied on the counter by confident deposit
was there, and Flood & O'Brien are not
anxious for deposits, even from stock brokers.
Their main object is to loan some of their
vast wealth. A few deposits, however, were
made.
were presented by men who had been on the
anxious seats for months, fearful of the loss
Of their money, for no accounts were out
standing; but the crowd surged into the bank,
gazed wistfully at the gold and admirinely at
the ornaments, and then surged out by an
other door. 1t was more like reception
han day of business. ALI day long the
crowd continued to enter and pass out and
when the doors of the bank closed there were
still hundreds in the streets whose CURIOSITY
aad not been satisfied.