Arizona citizen., 1875-09-04

Merchants Exchange banks is only temporary until a supply of coin can be gathered. \ run was attempted on Wells, Fargo 65 Co.,, but they brought several hundred thousand dollars from their vault and placed it in plain view of their customers and the run imme- diately ceased. Since the morning d1s- patches, affairs have greatly quieted down, and the only real question now is: How much will the Bank of Cali fornia pay the depositors?
 At two o'clock this D. m. the force of the panic was broken. The London and San Francisco Bank bore the brunt of the fercest attack, but never for a moment weakened. Between the hours of ten and twelve today, 1t paid up- wards of $8O0,O00. At one o'clock, it's New York correspondent telegraphed half a million through the sub-treas- ury.
 Altogether the situation looks much better than was anticipated. Work on the New Palace Hotel, in which the Bank of California so largely figured, has continued today as usual. News of the crash created a sensation in New York. Gold went up and stocks down, but both recovered. The tele- graph companies are cverrun with bus mess, recalling the scenes of the earth quake time in 1868. The Stock Boards have closed indefinitely.
 SAN FRANCISCO, August 2S.-Quiet now reigns throughout city. A feeling of profound sadness everywhere. The funeral of the late W. c. Ralston takes place Monday a. m Services will be held Tn Calvary Presbyterian church.
 There is little doing among the banks. The Merchants Exchange and Nation al Gold and Trust Company will re- .sume early next week-probably Mon day.
 The inquest over the remains of the late W. c. Ralston, is now in progress. Whatever people may think, the majori- ty say they believe his death was acci- dental, and that he was taken with cramps while bathing and drowned.
 All flags are at half mast, and the Bank of California and Stock Ex- change are draped in mourning.
 FAN FRANCISCO, August 3O.-The fol lowing from a Mississippi letter, writ ten -L- nro...Eaent eslC>l1ffe,it |. 51tr officer to a gentleman in this city, may be interesting: Just now times are exceedingly dull, in fact the only hope for a revival of commerce and infu- sion of vitality here, is in building the Pacific railroad. This is the only prac- ticable reconstruction measure, and those of southern proclivitie8 among you in California should understand it."
 An extra force of men have been set at work to hurry forward the compile ton of the Bank of Nevada building. It is the intention to open the bank at the earliest possible moment. The Merchants Exchange Bank and Ma tional Trust Company will probably resume after election. Government of ffcials who have examined the books of the National Gold Bank and Trust Company, report every thing correct.
 The funeral of the late W. c. Ral- stOn took place today, and was one of the most imposing ever witnessed in this city.
 WASHINGTON, August ETA few weeks ago it was stated the Secretary of the Treasury had ordered rigid ex- aminatiOns of the distilleries OF the Pacific coast The reports are receiv- ed today by telegraph from the agents, and are to the effect that for years thereI has been systematic defrauding of theI revenue by brandy manufacturers. The reports also indicate complication onI the part of internal revenue officials. Seizures and prosecutions will follow against @ number of prominent busi- ness firms in San Francisco.
 VICTORIA, B. C., August 28-Lieut. Gorham, second officer of the steam ship Salvador now at this port, com mitted suicide by drowning, early this a. m. It is supposed he had lost $3OOO| by Bank California's failure, which he deposited.