Carson daily appeal. [volume] (Carson City, Nev.) 1873-1877, 1875-10-01
THE RESUMPTION OF THE BANK
OF CALIFORNIA.

We herewith call attention to what We
cannot help regarding as the most i'm
portant advertisement that has ever ap-
peared in the APPEAL. In another col
umn will be found notice by Mr.. A. j.
Ralston, agent of the Bank of California
in Virginia City, that the agencies of the
Bank there and at Gold Hill will be
opened on Saturday next-to-morrow-
for the resumption of business in all its
branches. It will be the happiest event
ever experienced in the business life Of
the Pacific Coast. The cause for an e1-
change of congratulations on all sides is
great and gratifying.
In presence of this promised resump-
ton it is we'll that the state of affairs
which renders resumption possibility
should be set forth to the understanding
Of all who feel any interest in SO impor-
tant fact. We quote as follows from
the Gold Hill Netrs of last evening: In
view of the near approach Of the reopen
ing OF the Bank of California, the secur-
ity which it offers to depositors is a mat
ter Of importance. When the Bank
closed i. WAS supposed and stated, but
never by authority, that its liabilities
were in excess OF its assets. This is not
nor ever has been the case The assets
of the Bank to-day. independent of any
aid or pledge from the Syndicate are over
$4,000, 600 in excess of its liabilities.
We speak of undoubtedly reliable assets
in this connection. This Of itself rem
ders depositors of the Bank, both old
and new. absolutely secure. Now as to
the Syndicate or guarantee fund. Livery
subscriber 70 this fund or, III other words,
every member of the Syndicate has
signed an agreement in the following
terms:
I'VE, the undersigned, do hereby re-
spectively subscribe the amounts set op-
posite our names, to be applied under
the direction Of the Trustees of the Bank
Of California to the liquidation of the
Indebtedness and liabilities Of said Bank, |
and in the continuance of its business ; |
said sums to be paid in such installments |
and at such times as the same may be |
called in by the said Trustees.
The subscriptions under the above
agreement are now nearly $1,000, 900,
and will undoubtedly reach $40, 600, 600,
as the security offered renders this sub
scription q first rate investment. The
Bank agrees to pay interest on all sums
received from tho Syndicate subscribers
at the rate of 10 per cent. per annum,
and the subscribers have on their part
agreed to devote the sums set opposite
their respective names if required to the
purposes set forth in the article of agree
ment. In short, the capital of the Bank
of California has. to all intents and pur-
poses, been increased by nearly SIS. 0O0,-
600. of which 20 per cent. has been paid
up and is now in the vaults of the Bank
in San Francisco. The whole OF this
50, 900, 900 and the surplus of 1000, 600,
heretofore referred to. together consti-
,uting fund Of $4,000, 900, is pledged
to the payment of depositors, both old
and new. who have and shall continue
TO do business with the Bank of Califor-
oia. In word, two millions of surplus
after all debts are paid, and eight mill
ions of new capital are pledged to the {
repayment of every dollar deposited {
after the Bank shall be opened. There !
s not bank in existence in the United s
States to-day which offers such security {
or business. Well did Mr.. Sharon say j
hat when the Bank should resume it I
would be /" stronger than ever before"