The New York herald., 1875-08-28
THE BROKEN BANK.
SAN FRANCISCO. Cal. ,

The excitement consequent on the failure of the
Bank of California seems be subsidig The crowd
California is much less than tie opening of
business this morning The the London and
San Francisco Bank ceased with large
plus remaining In values. There
slight the Anglo California Bank its
opening this morning. but it subsidized The First
National Gold Bank reports everything secure, and the
may be said OF the Bank of British Columbia the
Pacific and Commercial banks. Private banks report
excitement and everything gong usual Gener-
ally speaking all Of the city banks considered sound
except the Bank of California Many
regarding the condition of the Bank of California Ono
statement, apparently from good authority, is that the
bank will pay depositors in full and the stockholders
fifty cents on the dollar. On the other hand prom
inent stakeholder that the the bank do
will be to satisfy the demands of deposors and will
scarcely be able to do that There has been slight
rush at the Hbernan Bank and savings banks but de-
mands promptly met within the rules,
pressed in the bylaws of the institution.
CONFIDENCE RETURNING.
On the whole, confidence seems to be returning and
II is believed the worst But little uncasiness
is felt the affairs of either the National Gold Bank
and Trust Company the Merchants Exchange Bank
The former reports probability of resuming,
though unable to fix time. They have an abundance
of available assets, and are only waiting the recep
ton of coin The President, this morning
states that they paid out about million
dollars yesterday and that they have still small supply
left The Merchants Exchange Bank is believed to be
sound and its suspension only temporary.
MORE FAILURES AHEAD.
1t is stated presumably good authority that some
half dozen heavy stockholders likely to go down.
No names are given No commercial failures have yet
been reported, though squeeze s expected
naxt dov Tha hnnE durin
the day transacted usual business deposits in
being larger than disbursements. There is no excite
ment on that line
MEETING CHAMBER COMMERCE.
The Chamber of Commerce held meeting this after
noon and decided that 1t would probably be more
furious than beneficial to take any action looking
postponement of ordinary accounts or notes ma
turing next collection day. The meeting was very
largely attended
SUSPENSION OF THE NATIONAL GOLD BANK.
SAN Francisco August 26-AIidnght
Tho National Gold Bank and Trust Company has sent
in the following notice for publication in the morning
papers,
In consequence Of the panic and the mpossibity of
obtaining coin, the National Gold Bank and Trust Com
pany Will close until further notice. The bank has
81, 300 600 over and above all its liabilities
As coin be obtained 1t will resume business
as usual. In the meantime any creditor so desiring
can have good of the bank the amount of his
claim.
BY order of the Board OF Trustees
HENRY L. DAVIS, President
THE MONEYS.
The City Tax Collector has 1875 600 OF protested tax
moneys on deposit the Bank of California for which
he has certificates of special deposits The Directors
assured the Collector this morning that the money
would be paid In a day or two.
A rumor, not yet confirmed says President Ralston
has turned over his private means to the bank
MERCHANTS EXCHANGE sUsPENDs
The Merchants Exchange Bank closed its doors this
morning The directors have prepared tho following
notice for tho afternoon papers,
''In consequence OF the excitement and disappoint-
mcnt of getting the directors deem It for the best
interests Of all concerned not open our doors for the
present"
The Secretary states that the bank has 100000 in
coin hand. The amount liable on deposits is
$500 OO0 but against that there may bo over $500 900
in notes. The bank is perfectly solvent The only
trouble Is the lack of coin.
PALACE HOTEL.
Warren Leland that the suspension OF the
Bank of California does not in any way affect the Pal
Hotel his interest in which President Raston sold
some months ago to Senator Sharon. The great cara
yansery will open at the appointed date, October l.
FRANCISCO RANK
There is a tho London and San Francisco
Bank but Man ager Latham his ability to meet
all demands without trouble.
MEETING DIRECTORS
The Board of Directors of the Bank OF California held
a meeting to-day Mr.. Ralston was requested to resign
President and Director which lao did
In consequence OF the death of W. c. Ralston the
trustees will meet omorrow, halfpast nine O'Clock
xvho Of lho nfTa Of fho han,
gwen.
THE SITUATION NIGHT.
As regards the financial prospect in the best informed
circles il is believed that all the banks will 20 ON with
out further trouble and that the National Gold Bank
and Trust Company and the Merchants Exchange Bank
will resume on Monday.
Tho is full Of rumors The streets at this hour
Is p. NJ are crowded with people. 1t Is understood
that owing to the excited feeling manifested arrange