, 1875-08-28

hlrpi Rirer, ha learned tho buhtHnaa Of banding
at lausma Ia 1850 with John Fr,tx. Of pha.Io.-
rl,a, And q. Il. Garrison. of Nav York snbae-
,lneutlv lo vns aH.ocinscl At San FrAneiaco with
Q. X. Harrison. tharIcs Morgan, OF New York,
nnd John FtftS. III nsHoctation with Engrno
kolley. ol Mas Yurk. n tetIrcsl Fan Frsnctnoo
dry goods merchant, aud J. A. DonAhpe, tho
house Of Donahoc, Nalnson Il Co. In cn,mn ms
hucceSs during lilo oar Yo,ss Of tho H. bellion
In buying And rolling Eassern exchange. or
Wh!cn theY t,1x c!0~o rlnkr, offering very noa1ty
Now iurk quotations, Asld III rans cnHas tho OK
caango approc,. ell 90 per cent ell rnntc. 40 that,
accoldiuR to c"rlon raport they earned *i.225,-
0OJ IN tNn yours.
llalston Ina ,,aon desc, bett TO me- by E.. nov-
ntnhr Duwniu. n Dahucrat,-nnd Ahauker. h1ao,-
as man who Heyer apptol'ended hin own re-
sources as a natural h'ancinr. ard he rcsinted an
Now fork. ,nhtful Of llis ability to comaeto
with ths oxoertcnced hankcrs thoIo. f1o dnter.
1nlncd, tslatoHd, to JUN \ partnership atupo In
capital anu character to conlpoto with tic En-
we're running tho bullion on tho coast and out
OF the country, and he prevailed upon Mr. y. O.
Atita, who was jnat retirlpE from notiva hustneAn
at Sacramento and waa one Of tho most trust
worthy Aud popular hapkoss IN tho coaBt, to join
With llimeof aud Fritz IN similar stock uudcr-
taxlng. Samuel Wilson aud A. T.. Cflttonden
wore tho consulting attorneyB In tho mastor. aud
tho only oharter tho bank required waH ane1,tl-
ntorv statuta. addtn9 to the lay authorizing ooE-
roratons for mining and manufacturing the
words, and ether 6usiueas." Tho now bank
came Quietly Into existence IN tho snlnmol OF
1854, NTH ratd.up capital OF &2,00o.b00. Tho
character Of the man, however, anvo it 4 aupar-
stisiou tram Tho Start. Mills xaH prosilnnt aud
Rslaton Cashier. null those, with nsno Irusleoa,
werc tue absolute managers Of tho cnncorn.
The lank pnrsuInr the policy Of controlling tho
buIlinn-s Weld for tho rako Of tho deposits which
nDull follow, speedily became tho faYnrite do
poeltorY OF ths coast. 1t war al&cgo1 that In
the tirHt twonty months tho a,k undo $901. 003.
Tic capital still being unequal to tAat en-
royed W foroignere. AMI tho opportunities OF
the bank exceeding its capacity. tlloy determined
to tncreaho the capital to Sb,00tl, 0on, and to
greatly odd to tho number of Stockholders; tho
fame md SUCCESS Of tho concern Rayn It tho
selection OF tho best nan on the coast, willis to
the knoan viRllance, enterprise, and good judy
mont pF ita managers, w&a toqueathed by the
man has 10 waiit i" tho Dark ot tniIforua 10
kuo" whether t,o can have accommodation II is
"ses" Of mo" About three hs1sldtcd gentte-
mon, representing evory intsross. mercantile,
tahon into tho enlarged CORPORATION, snd ta'y
| Represented IN lhcit private aggregate about
| 5G0,no0, 700. To hnv that thnsc individuals arc
| tho Bank Of California ia TO conround one IN
sntoFpE,so Of The Pacific Cosst The new atook-
| holders bound thetnsolvos to take Of sllo unti
ytied earnings Of tho bank no more than per
| cent month, and iscnce surplus Of 25 per
pail up At tAe teorHsnization. In 6eptombor,
| 1861 Tho bank hal established MI agency or
branch at Virginia City, With al ulfeloo at Guild
| Hill, Nevada. aud THIS tn Compondut;nn Ia tho
th. snrei sttlon tho envy, or the 4uorulotlsnosa
| Of pcoplp n,ny contriye about 1t. Ihe hHua eal-
| tlco aud ground IL worth S35o, 900; thoro aro
rresidont Cashier; an Assntant Cashier:
meetings a.e hold onco vook. Tho
Trustees ut present kro theae, D. D. ilt!ls,
hauker; William 9. ns!aton, banheri William
i. barron. capitalist: ID. J. Tall1ns tanker;
all h1$h N nina liFaH
banker; L. Locks. merchant; 4. Haywood gold
miner Louis alcLaIn, ratired banker. sou of
Jarkson's Secretary Of state; William Norris,
late Of California atoa1u Navigation Company
john Q. Easl, capitalist.
sEcnEr or TUE nAXR's SUCCESS.
Varons rcssons have been urged to account
for tho bank prosperity, bue hnvo not hean
nh1e to tlotodt tho A9ancy Of IT, leading men IN
,Nora llan two antsTprlsps. They oon'Eol q hM- @
aud they arc individually owuogs OF tho Union
Mill and Mining Association in Nevada. 10th
of those mat;ora fail legltimttely IN the way Of
beou tito soas OF tho tinoat silver lode known to
man, hnd, in tho flush OF silver minlug t4ere.
csudo and cheap machinery was sufficient: but.
Ms the oro fell OF In rchncss, tho desultory mo-
aat,sfacions tho mills stoppsd one after an.
other Rul, bY tho failure OF thoir factota and
oofrnspopdeatH, tho Bank Of California lost
el0O.Q QU0. With tho establishment OF their No
SAQA UfAQEHGHs fhk0 u i1keEt6t I61l tlGkn ~
and Is per cant to per oent mouth and two
Or thrap Of tho bank manegers,-tn thoiF pri-
@atq rAp4ctY only,-aaalHted hunbar at tic
HuaF!z companies 10 prosecute thor rork. and
/ iinaily nodded thnm into d corpUIatlon the
prizes OF fuel, qulckellver. and machinery vere
Tot]uead by n wholesale system OF purchases and
transportation, and silver mining In Sayala now
owes It's prosperity to thia yigiant Bppcrintcnd-
tnte.
The Ban Francisco Refinery Of Bullion waa
established by Boye,ai banking firtns tic Hank
Of Ca!.orn,a taking tha majority Of tho stock,
IT co4ts fl00, 600 to operate the ratnery. annual~
on the contrary who ia charged IA conta per
ounce Of gold, paya the oompatlttvo establitll-
mont only cents an ounce: tile profit comeR
sololy from tue diversion Of deposits. which fol-
and tho Bank Of California takes ita chabcea
with tho other stockholders. Uy 1neans Of this
oheAp rsdnery. aud the privilege accorded to
bass sboYs cartatn rato Of 9n.t,ash Of beng
much has boon done to glye tlo United States
I control OF tho nntyo bullion; more might be
dono 1t our min1-tates ~a5o lowered to the
STANDARD Of thoso Of France and England. Whoh
arp uihil Tho cost Ut rotining aud cotuing
uuler Government hunnioea bore las alwaya
compolled movement 1T bullion torard Europe.
| the exporter taking tho shave. Tho tagaoious
enterprise Of tho Pacific Coat baukora haa cut
| down our disadvantage onshalf, and tho bank
| In question has IeRp91' q AlerA part Of the re-
aultlpg bNniaoas.
| uxlusloas ABOUT THE pAsx.
Ny 1o!tcr is growing too long for farther olab~
oratlon.. 10 meet the thousand aud ono ctlarFoa
Of interference in mining operations by tnia tu-
stitullnn will oniy iustanes p single caas,
about which happen 70 DO personally In
| formed.
A Tow da7s ago. tho London Engtper, pro-
ctao aud reputable papor, arrived hare with =
sketch Of tho !ead tnipsB OF Utal. aud sttted
| TINT tho oalebE&tad Eu,lna Mipn whien nrodupad
100 !ops Ct ore d.4y, had neen purchased W sAe