Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1875-11-03
The Suspended s,sk.

On Saturday evening lass the readers
Of the NEvs were informed. through .
Telegram received, Of The closing
Of the National Gold Bank and Trust
Company at San Francisco. We give
the following further intelligence rsla-
tive thereto copied from the San Fran
cisco Ala Of yesterday:
The National Gold Bank and Trust
Company did not opea its doors for
business yesterday morning. 4 crowd
had gathered by 0 o'clock. including .
number Of anxious depositon, some OF
whom we're admitted. When the hour
Of 10 arrived Il was evident thst another
'.run" was imminent. and. as the supply
OF coin was mot sufficient 10 meet II, the
officers Of the bank determined not to
omen. General Thompson, Cashier,
announced that no payments would 10
made, AZ Il was not thought prudent to
open tho doors during o threatened
panic. He said arrangements were be-
ing made to pay depositors In full az
quickly as possible. and that q statement
Of the affairs Of tho institution would
soon be made. The disappointed do.
positors departed, aud the crowd soon
after dispersed.
CONDITION OF TUE HANK.
Inquiry Of the bank officers elicits the
following: Owing to the suspension OF
the bank ON August Goth. II has had to
redeem its notes In NJ unexpected vol.
ume, although II has been short oil coin.
A q result. the officers applied to tho
Sub Treasurer for assistance, and pro-
yided the coin for that purpose by sell
ing S5O0, 900 in bonds In New York.
This left them q balance Of $500, 600,
for which they had s4OO. 900 gold notes
on the LIT Of October. nearly oil OF
which vaz In circulation. Ainos then
the o6icsn have been gradually calling
in their notes. eanceling them and send
ing them 10 Washington, aud with
drawing q due proportion OF bonds.
The design has been to reduce the note
circulation to $40, O00. for which II was
proposed 10 lsave $1,000 In bonds in
Washington; and 30 tbs bank could re-
tain it, organization as a National Bank
and provide itself with $500. 900 more
coin from the aans capital. and another
$500, 900 more coin to loan BY abolish
ing the reserve necessary TO DO kept
when the note circulation was $500. 600.
Since the resumption OF the bank II has
been steadily getting back It's old bust
rs.. ana A VA believed that lis trou-
BILE vas over. On Tuesday last the de-
posits were S670. 900, and up to Satur-
day noon everything went along swim
mingly. Mr.. Henry l.. Davis. Presi-
dent Of tho bank. went down to Santa
Clara on Saturday. for q respite from
his labors, which have been heavy
since the suspension. He had hard
ly reached his destination when he was
sstonished BY q telegram announcing
another run" He returned yesterday
morning. He states that no new loans
have been made since business was re-
sumed, and the greatest caro- has been
used all along. The bank was unques-
tionably solvent. but, like all Others, II
could not respond to sverydsmand upon
call. No answer could be given to the
question whom Il would resume, or
whether Il would resume at all.
General Thompson said that tho dis
burssments by the bank on Saturday
amounted to s6i2. 900, and that there
was 800, 900 on hand yesterday morn
ing with which 70 commence business.
A tslsgraphie transfer OF S25O.0O o had
been expected from Warrington this
morning. but its failure TO arrive had
not bean the cause Of the failure to open
tho doors.
An approximate statement OF the
banks condition IL: Assets. 1885,
2sl II; liabilities. sl.2i5.377 CT. The
assets arc good. and can be realized
within ninety days.
TIE YxxiiNo.
There was little or no excitement yes
terday over the failure Of the hank 10
open. There was no run on any other
bank, and financial circles were not
agitatsd. Il In believed that the bank
IL solvent, and that no serious trouble
need b looked for. although II cannot
be said whether the bank will reopen or
how o Il can wind up. Ameeting Of
the Directors will be held to-day. at
which some definite action will prob
ably BE- decided upon.