Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1875-09-04
san FRANCISCO.
RESUMPTION BY the Merchants Exchange
BaBE-StrOrg Probabilities Of
Resumption by the Bank
OF Ca iI0rnlR,
4 Better Feeling on the Street and In
Financial Circies-Aeti0n of
the San Francisco
Stock Exchange.
. Gath's" {" Letter AbOut RalsiOn-The
Manners, the style aud The Bablts
Of the Dead Ranker-
His Competitors.

SAN Francisco, September 3. -
The opening Of the Merchants Ex
change bank and the prospect OF an in
mediate resumption OF the Bank Of Ca
itornis causes the best Of feeling in bust
Dess circles, and with the exception q
the closing OF the stock board businee
/ has practically settle d down to its usus
routine. This morning the board o
| brokers will hold a meeting, aud it i
possible may conclude TO resume bust
ness by Monday, though more caution
ones advise waiting Until the resumption
of the Bank OF California. The time i
not yet fixed for the re-opening Of tn,
| bank, as much remains TO be done in th,
examination Of accounts. MT. RalstOn'
succ csssOr is not yet decided upon. a
present d o. Mills il a. the lead Of al
| fairs. The amount of new capital sub
scribed to date is 'OU. million eight hun
! dred thousand dollars. Tne bank attain
will be taken in charge and the business
managed as before the failure until al
the assets are collected and all debt
paid. The engagements and obligations
OF the bank will be regulated quietly
and prudently, so as TO restore confidence
Lut DltACll dLltH aAN ~ lE4iENC kAlk
city Of any anticipation of being injured
in any respect. The stockholders art
expected. for their own interest and tha
Of the city, TO give the syndicate a cOD
! trolling interest 10 the stock, and wheI
| the bank is free fIom its CbIigs'
! tions and the assets have beer
realized, the benefits sccruiug will bt
distributed among the stockholders pro
| 3. = FVzI
| BILE authority that the business of the
bank will be closed up, as it affects al
the creditors and stockholders in 3 mCsi
advantageous way. Time will be given
70 debtors who are unable to meet theil
bills, but an effort will be made to col
! lect the assets as soon as circumstances
| permit. AZ fast Rs the cash is made
| available, the Indebtedness OF the bank
| will be paid off. When the affairs of the
| bsnk have been closed up, the syndicate
will take into consideration the advisa-
bleness on continuing the OLD organiza-
ton or starting a new one, or what
other course viii be taken.
The financial outlook improves every
day. The general business has resumed
| its usual channels. The recent coin fail.
ures are nearly over, and a much better
| AEGIllk IItNdl1Gs L nc lOlRS dAlVAuAB It.
Gently thrown on to the market from
the treasury and mint, to which will be
added two hundred thousand dollars to.
morrow by transfer from the treasury 70
the National Gold Bank and Trust COM
psny, tend to make money much easier,
The affairs OF the Bank OF California are
processing favorabiy. la sn interview
with prominent gentlemen of the direc.
given that the best Of prospects existed
for q speedy reOpeDinZ. A guarantee
capital, amounting TO several million
dollars, has already been subscribed, land
more is promised. The creditors exhibit
disposition to grant 3 reasonable eX-
tension Oh their demands, and the
stockholders, without exception 80 far
a seen, express their Willingness 10 en-
ter into the proposed arrangements. Fur
ther examination into the statement OF
assets warrants the assertion that their
condition is better than at first supposed.
The directors, at present, prefer to make
public no detached staten ents as to the
assets and liabilities, though
information was privately af-
forded to assist in obtaining
general knowledge of the condition OF
the bank, which goes far to confirm the
recent favorable reports. No definite
time is stated for resumption, but d de-
lay OF about two weeks was estimated,
at which time full state OF affairs will
be made public. The San Francisco
stock exchange held a meeting to-day.
Two hundred and fifty thousand dollars
were subscribed to guarantee the fund OF
the bank, and subscriptions were made
by individual members amounting in
the aggregate to from two hundred and
fifty to four hundred thousand dollars.
The board will not probably resume its
sessions until the bank begins payment,
and in the meantime will discourage
any business on the street. Private
transaction were made, however, to- day
at the following rates: Con. Virginia,
240; California, 81; OphiT, 43; Crown
ct, Sc; BelcheT, 81; Mexico, q. The
best Of feeling prevails among the
brokers.
The inquest into the case Of RaIston
was concluded to-dsy. The report OF
the jury showed no evidence OF poison in
the stomsch, and a verdict was returned
accidental death from congestion Of the
vital organs The National Gold bank
anu AAbGN ScAAbN ANESAN GNSN E@S'
poets Of early resumption.
WAsHIN0TON, September 3-The dit
rectors OF the mint in San Francisco SEN
the following telegram from that city TO
the secretary Of the treasury: "Buy an
addition half million OF gold coin. Il
may be transferred from the bullion
fund 10 the treasury without interfering
with the prompt payment Of the bullion
deposits and purchases by the mint,
which is refining on 3 large scale. Busi-
ness is improving and will soon move
forward on more solid basis"
NEW YORK, September 3.-A dis
patch from San Francisco says that D.
o. Mills, president Of the Bank Of Cali
fornia, authorizes the statement that the
capitalists OF that city viii sub-cribe
sufficient money to take up the stock OF
that bank, and guarantee stockholders
against loss. All claims against the
bsnk will be paid. The tTea sUTy trans
ferred 10 San FraUCIsCJ to-day one hum
dred and fifty thousand Go.lsTs. Total
since the troubles Of the Bank OF Cali
fCrnis one million nine hundred thou
sand dollars.
"RALsToN," BY GATH.
pEbadaInbia Times, August ST.