The New York herald., 1875-10-02
THE BANK OF CALIFORNIA.
A Graphic Sketch Of
the Institution.
THE TRUE CHARACTER OF Mr.. RALSTON
His Labors to Build Up the
Pacific Coast.
A FRIEND OF THE PEOPLE.
The Enterprises Sustained
by the Bank.
The Institution Starts on an En-
larged Capital.
A FRIEND OF THE PEOPLE.
The Institution Starts on an En-
larged Capital.
SAN FRANCISCO Sept. 20. is

The Americanizing of the Pacific Coast and the mag
nifcen results that have followed It's annexation to
the United States could not fail to draw here host of
remarkable men-men great in mechanics, great in in
vention great in enterprise great the develop
ment of new country, with such rich and varied
sources. Such men could not possibly travel in the
old slow style of their fathers, while such boundless
treasures beckonng to them TO hasten on and
gather them up. In quarter OF century country
almost unknown to the world and with almost
in the school class has thus sprung
into being and exhibited capacity for independent
selfexistence that is really marvel and of
just pride TO all who look with pleasure upon the prog
rcss Of tho American people Towering head and shoul
dcrs above oil these great stood the figure William
c. Raston, who seems to be Of those remarkable
creations of nature-seen only in a generation
endowed with organization perfectly adapted for
such work needed to be done the Pacific Coast
in the latter half of the nineteenth century.
THE CALIFORNIA
the necessary outgrowth of such a country and
such man. To the man of the Pacific Coast the Bank
of California took rank with the of France and
the Bank Of England. Other cities in the country
might boast OF wealthy and powerful banking institu-
tons as stable and as invulnerabe the everlasting
hills but they were merely local in their reputation
and limited in their sphere of operations; but the
Californian the bank of which Mr.. Ralston was tho
head seemed to embody in general idea M wealth
and influence OF the whole Pacific Coast extending it's
active business relations eastward to the great cities
the Atlantic Coast, and the Europe,
while westward it stretched its hand the great
expanse of waters dealt enormously with the oldest
nations OF the world, regarding them as directly its
next door neighbors and special subjects
mercal intercourse The Californian travelled with
Of solidity when he had letter Of credit from
his own bank. The thought of its greatness
in his mind and inseparaby associated with it the
name of ''his friend, William C. Ralston" who was
ever ready to aid and protect the Californian abroad
who might by any accident misfortune need the use
Of his 1t the realization OF this fact that
made the at home who had never deposited dollar
In the vaults of the bank enthusiastic in his praise
the of millions who had placed all his earthly
treasures in his safe keeping.
PRESIDENT WILLIAM O. RALsToN
There nothing of the 'Great ami about him;
no dash style to attract attention as simple in
dress he plain and unaffected in manners He
did what he did naturally and without parade. He
sought no ones confidence, yet he was the reposi-
tory OF the private business projects of nearly every
one who had enterprise to establish He could be
seen at any moment could be talked to wherever
he was; accessible to the poorest as to the
wealthiest and TO the to the other; he pos
sessed tho rare gift OF being attentive listener.
a conversation
or the point OF statement addressed him and
often before inquiry ended the answer was
delivered, 'Yes" mo" a suggestion of how it
should be- He seemed almost intuitively to un-
derstand the merits OF any measure to which his
attention called, and in brief, clear words his de-
cision was promptly expressed. There
possibility Of misunderstanding him. Notwith-
standing the great power he welded
he could submit to be talked to by those associated
with him in the general interests of the bank when
they had anything to say to him by way of caution
suggestion with regard to any of the enterprises in
which the bank engaged He never turned away
from implied reprooi however much he might think
it uncalled for and would always express his apprecia
ton of the suggestion, though at the same time, he
would give evidence OF the utmost confidence in his
Judgment and selfwilled enough to follow it
all the time.
STATEMENT A CAPITALIST
wealthy capitalist remarked to your correspondent
yesterday that 'Ralston was a natural banker. l
never knew a man with such wonderful CAPACITY for
almost instantly realizing the relative value Of ex-
changes in every part Of the globe. The financial
markets OF the world his study and where there
possibility of dollar being made for the bank
Ralston made IT. and had he confined himself of late
years wholly to the limitations OF sound banking
business nothing could have occurred to njuTe
the bank to have tarnished the famo of its man
ager and this is presume, the general Judgment of
his warmest friends who would shudder to express
listen to unkind word against his memory.
THE ORIGIN OF THE RANK.
need not enumerate the varied associations of Mr.
Ralston with well known capitalists and bankers from
the time he arrived in this city, much OF that has
already been given to the public both by the electric
spark and the pen in the various sketches OF his life
published in the daily press II is sufficient to note
that bis career in business has always been onward
and upward, every change being further In advance
toward the goal Of his ambition-thc control OF the
moneyed interests the Pacific He had never known
what il was to fail and intoxicated with an uniner
ruped series OF successes he probably felt that time
alone was bounded and what he could accomplish
day only postponed till the morrow Having
been eminently successful in smaller banks the con-
cepton OF gigantic corporate bank of the character OF
the Bank OF California was naturally the offspring Of
his brain. The thought solely his and through
his personal and direct influence and exerons the or
ganzaon effected and took legal form on the 18th
OF June, 1864, with capital OF 81 100000 year
later its capital increased 10 So COO 600 with
serve fund 500 600 and II entered upon career Of
prosperity which uninterrupted I'LL its sadden
and unlocked for collapse. From the beginning Mr.
ID. o. Mills, cautious banker OF Sacramento, was by
Mr. Ralston's selection made It's rstpresldent while he
himself filed position OF cashier and in that rca.
tionship they continued till July 1873, VIXEN Mr. Mills
resigned and Mr. Raston became It's president While \
he was cashier he was the head Of the bank He was
its BRAIN soul aud backbone and when nc ascended to
the upper chair he continued 10 manage us business Ia
the way. Wherever he was, there was visibly
the illustration OF the sentiment, "LEtut ceS mot"
The institution and the indivslble. He di.
rected everything II he owned IT, The trustees were
seldom more than igurcheads
BUILDING.
There are two places eminenty popular IN san Fran
cisco-Cafornia street and the ClT House. No
stranger visited the city without hearing OF BOTH
The great attraction Of the is the lions and the
roaring Of the blows rock bound coast and IN the
other the bulls and bears and the murmurng waves ot
the money market. After tho FIRST breakfast in tho
city the stranger is to stroll into that California
street He wants TO the men Of millions and the
men who arc making millions And the men who may
make Millions for every other man met on the SIDE
walks between Montgomery and Sansome streets has
mine 10 his pocket and regards himself an embryo
bonanza king Threading his way through this sceth-
ing mass OF ''Great Expectations the visitor lnds
before him a massive two story blue stone building,
standing the southeast Of SansOme and Gait
iornia strects-that Is. the Bank Of California This
building was erected at cost Of $3.50 000thc hand
soonest and most elegant banking house Of It's in
n..AInI DIun nnL..A n.I. Lun.. .l..