New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1875-09-04
EFFECT OF THE SUSPENSION IN SAN FRAN
CISCO
EXCITING SCENES on THS STREET AND AT THE
BANK-sTATEnENT or MR.. RALsTON-INTEEviEW
WITH MR. JANIS c. FLOOD.


From me san Fryn-'sco can (fvG. 27J
At about O'Clock IN the nitf.n0on II became
evident that tEero vas an lBi'uh sur " me bs" o. ~
iforna. Sea lily lncrca,hS ctoWn Tis m+,Sns ~
front Of the counters, each individual pushing ana
iostling his iSdDGr 10 the most iratc m'"hrf iIh
rais cly, on tae s'Ftet III rom ~ ,n' ? 81
Francisco Stock Exchange, where an army 81 hkeis
ana Operators had a. 'elnD e. tit lhe hlH Oh
had stepped payment u - ~ ~
hut il fell like exploding bomhel upon me ears ~ he
crowd There general rush across the street
ana fine handsome gay stone building besiegeii in
fnother moment BY an enormous mitthdc. regneNi
was then police hradiuatels i detachment OF
officers &c preserve Oer, ana al order WIS gwen ~ MI
Ralstm 10 cose the doors and admit tne public only
done The clerks s.ii 'onnied paving out money as 80
as checks were presented. At ~ o'clock Mr' Ral.on
more deposits should be aen in ann Ien Instructed tie
paying tellers thnt no more m9nr' oia be pad 2at on
Fortunate Inquiries which hundred ms N one breath
were shownS upon nm ne ~ cie 70 te r cos
Wits the matter on tie street?' said everybody
who Ind inc smaiIest preension TO be a capitasty
had money 10 lose credit back, mech ndis" 10
crnv, r,idy collecting front Oh the hank echoed tie
nteocafion and surged 10 and o and struggled to OBJ
tain favor With the policemen at the hahN ports ana
answer 70 this single Question it %oE I'LL, pc i'm,
possible TO reproduce No one person hoard mn
al; there was howl OF replies a whirl,
Wind q contradictions. aud noting very definite beyoad
GER in uncertainty could be educed Tne whdoN-D'hi IS
were ul. the doors cUs'd as on Sdndays; the BANK
interior much conce ed to tae oGt' lie 4st'r az
crater the MOOD bat tniOnsb me sA"ii "lcHe 0fth
cIosfer door California H. people "ti passing III ANA
wit
others gr0anug because trir cechs h''u li9 i:
nothing There thousands on ile siire ana disisy
bnIsti" was IN exclamation frequently heard ard -
frequently BAN us only rush ana hob1y WI lose
Cl', stand u rlisb en- its coin, and Tomorrow you
viii see that all demands VIII De mot IL must
be confessed tnA me sni' eNrit-su over tie
Whole crowd there was utter dstrts,-Whyl II was n-
no BE divine from tie financial Indications dis"''
ibb a few hours before There were loud put|rintt OF
misInana Genoit Salq some: ~ ~ rI,ht has ma
bear the marKet speculation giving lie credit b. un;s
that arr quoted lines their value or that have 40
y,ue II am What security is there dc lCsDrs il tie
I ~ bed IA bnil,i The PALACE Hoei be owns r,,
estate On ei cry street in tho n6glboOOd; he Is capt
dist III the manufacture OF ulnure ana cdrfags ad
ana e Is 9a1aR oI N c ia'' ~, ni s1G ~
bank do all tins with recAless iash, ana eNiec lis RANK
IL withstand ciasLF Ihe Iy.'EoiL4 summarize lug
terse oint when accompanied thclr expression Otnrr
r.an,ls OF course were gwen ~ That
arm, Duncan, sherman ~ Co.. came ~ Tor sLare
81 IN. blame; the bank had Suffered learfuy 10y Tat
fsiiure and Flood q o Bgien somehow az tue bot
tun of it, On wednesday they had wItndi3,wn couple
o. millions OF dollars rom Inc bank eoler7 aud NJ ID
add ION recommended suniTy huayy q positOIs, T. ir
friend. to withdraw. Then they nal mae Il terrible
rad the Ophr Mine. ana on 0ter locks Asi he bk
crowd uOlcit they could control. Mir i,alston Wa
v hut hs friends lie uphriG ~ tir h's'
man Francisco iias ekosen far-ssring smart
fellow and friend OF stock sleculators WHO laC
Gus 10 meet aud enthusiasm Tor MIN such tIat
prediction confidently made tlat tie bank was as
sound a. credit Of the city, and hdt when securities
were realized upon, all liabilities would be met Witnin
Wne the rnor had spra I'D wide that the Bank of Cali
fpnia lad suspended, tncre naturally run the
other banks. TEere Nas trfnS abatement IN he con
hlenee reposo in the London and san Francisco an.
Toward O'Clock about 20 or 30 persons were ranged II
front uf the counter, bent upon Withdrawing tLc de-
posIts and disposition Manifested 10 restrain
Them. matter OF fact, the bang was kept open bo-
You'd hours Mr. Latham spokc qu lily ~ tue cl1s, AZ
If II did him. know nothing about the AZ
fairs OF tire bank below" lac Unmarked " Ii is enough
for TO paddle my own canoe They have put ap tier
utters but do not KNOW any rause IOi lbe iduie
The news upon me IKE cl1pO thunder. THIS III
statiOn is All saie--you ldAy d'peAd upon tha am
they fheyii i iS ~ -" "'' ''' anu " navy ''''' "
When suspension Of payment on checks occurred at 2
p. H.. reporter hedgl Lis NAY Enough the nova AT
me wicket CaliiuIniaf AMI was cOurteously uSE-
te reporter EXCHANGED grcednsa VAN Nh R.ison aud
informed that the bank would DC PREPARED with
statement at O'Clock. From O'Clock unti Caiifor
MIA and sansoIne-sts amnod with excited sp eta
tors and delJsitOrs, and the whole re6on reeked OF
money-Wealtb at stake wealth recovered
lost There were thousands the teBter hooks Of
anxiety, with nothing very assuring 10 llay their
st VS. and the next moment eady release their grasp
and clutch az something else AT OGock ali the press
city represent WITHIN the bang portals Tue
clerks observed behind the Counters IN talRai"e
groups, discussing one Ling-HAa tn ushOt was 20 b
crets of the h..k VIE under dis,s In the directors
rOo and outside nohlhg Was allowed 20 leak to what
were IN n cluster and somewhat IMPATIENT for informa
ton. Malt hour passed; three-quarters; IT wanted
swung on incr noseless hinges and the bank directors
stroIe after each oiler aud made their exit from
the building. Accounts hal been examined, and such
little revelation paataDe the public good
about ed Mr.. RasOn said, TINS way,
gen Ienen," ana small army of press followed
into the council hall OI the drcctOrs-a dizzy apart
meit; not chccrfulv gAted, hui very comfortably sur
nisled. Mr. Franklin, SECRETARY, WAS busy writing
at one end Of long Lle and be continued ~ Aite
nothing unusual uanspiiing Perhaps with him il
was "A fOregOne conclusion, u thing of weeks, IL
tue SUSPENSE and worry mad vanished. AMI resg
nation had fortified him for The crisis. ar;
Rglston, who looked wonderfully self-pOs sessed
and free from agitation, motiuned everybody
into q seat, and observing tHit the 3eere-
tary had finished the transcription from rough jot-
ting on which he as engaged. e broke the silence.
Gentlemen" he remarked. Just walt moment before
you taxing holes. vii maize fe. remarks
" Lic DO not 10 have taken down. OF course
the confusion that has taken place to-day aud during
this afternoon Il has been impossible for 10 do any
thing. IL object 10 make up statement which
VIII pre- - the pHic. resolution Is being prepared
here which will give You for publication IN the
ing papers, and IL tells all thai have say for
present upon TIE subject. will add my own DetiI
officer OF tic blsIk. TINT lhcrc