New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1875-08-30
PRICE FOUR CENTS.
THE BANK OF CALIFORNIA.
THE WORST OVER.

THE WORST OVER.
CONFIDENCE RESTORED IN THE cITY-THE MER-
CHANTS BANK 10 RESUME ToDAY-CoNDiiION
OF THE BANK OF CALIFoRNIA-MR. RALsIONS
DEATH POSSIBLY NOT SUICIDE.
No statement is published TO the condition OK
the Bank of California. A statement is withheld
until after Mr.. Ralston's funeral starting
developments are then promised. 1t is already
known, however, that the failure of tho
Bank is absolute. It's liabilities are stated at
ST. OOO,O 600 ard its assets at $7,OOO,OOO. Tho
Merchants Bank will resume to-day. The National
Gold Bank will probably resume this week. Comb
dcnce is restored in the city, and no further disas-
tiers expected. An inquest was held INTO tho
cause of the death of Mr.. Ralston. Doubts begin
to be ielt As to whether it was a suicide
THE FAILURE OF THE BANK TOTAL.
LOSSES, $4,000, 900; ASSETS, ABOUT S7.OOOOOo-
sTARTIIyG REyi LATiONs PROMISED AFTER MR.
RNsToN's FUNE8AL-A FINAL EFFORT I'D SAVE
THE BANK-AN ASSESSMENT OK TIE STOCK
HOLDERS
SAN FR,NcIsco, CAL, Aug 2o.-Although no de-
tailed statement Of its affairs has yet been made, It
is well settled fact that the failure Of the Bank OF
California is total 1t will attempt to resume
business. Its stock is worse than worthless. With
liabilities Of more than 81 ,000 000 the highest es-
innate puts its assets at 49, COO 600 but is doubt
full il So 600, 900 can be realized. The directors,
such Mills, Tallant, and other men OF undoubted
integrity were deceived until the last by false state
ments regarding the banks resources. They were
unware OF the condition of the bank until Thursday.
On that day they applied to Flood d. OBren for re-
lief and offered to present to that firm the entire
paid-up capital stock of the bank-namely $1,000,
600 Also 81 100000 in bank; and, in addition,
100000 TO he assessed on the stcckholders-in
all 81 800 900, provided that Flood O'Bren would,
for this consideration, assume the liabilities OF the
bank. The proposition declined and the bank
had TO suspend.
There is no doubt that the liabilities of the bank
are 100000. The principal stockholders will
probably have to be assessed from 40 to 80 cents on
the dollar to pay off the liabilities and will lose
their stock beside. The following are the names OF
some of the principal stockholders: The Barron
estate, Thomas Bell Nicholas Luning, Moses Ellis,
Capt j. b. Thomas, Asa T. Hamton, George Howard.
William Norris, John o. Earl, John Parrott, ID. j.
Talant, Michael Reese, ID. o. Mills, Mark Living
stone, and o. +. Gffans. The affairs of the bank
have been pat in the hands OF an executive commit.
tee, consisting of Vim. Alvord and George IL.
Howard. Some say that ID. o. Mills, the ex-Presi-
dent of the bank has not owned share OF the stock
for the last three years. Some $3,0OO,00O OF the
vances made by one leading capitalist to strengthen
the bank. Ex-Goy. Stanford holds 100000 Of
these acceptances.
Although the directors Of the bank, as Board,
have perslstenty refused to make public any Of their
proceedings some facts have been obtained from
ind viiual members In view of the recent calamity
which has oveI.aken Mr. Ralston, the Board have
declined to make public any discovery they have
made until after the funeral, when startling dis
closures are promised. 1t was admitted by men,
Der that the Board would not have asked for Dir.
Ralstons resignation unless grave facts as regarded
the management had come to light All the Board
agreed that lie must leave the concern 1t was also
practically admitted that the bank could not pay
depositors in full but would perhaps pay about ~
DER cent As regards what has been said of the in'
Thence exerted by The Gail and The Bulletin in their
structures upon RalstOn in causing the crash 1t was
admitted that tho facts prove these structures 10
have been well founded, and that they could have
had no bad effect on the bank had Il not been intrn.
sically weak The gentlemen consulted were dis
posed to be very reticent, but the above statement
can be received rs an unwilling expression of facts
THE RESTORATION OF CONFIDENCE.
NO FURTHER FAILURES FEARED-THE MERCHANTS
BANK TO RESUME TO-DAY-THE BUSINESS COM
MuNITY PREPARED FOR COLLECTION DAY.
Tho CITY tO-llgnu has TeSiiIiltu ITO WOhteu p"iV~
The excitement of the last few days has died out
and general feeling of confidence seems to have
followed. In banking circles no further concern IS
apparently felt. The Secretary of the Merchants
Exchange Bank, in an interview to-day, stated
that the bank will resume business in the
morning without a doubt. The transfers from
the United States Treasury, and the com
collected from local sources, have placed the
institution in a condition to go on rs usual, and no
run is anticipated tomorrow beyond what may be
expected in the usual course of business. To-
morrow is collection day, but it is confidently
believed that it will pass without any suspensions
The larger proportion OF the mercantile community
il in condition to satisfy full demands on presenta-
tipn and general disposition is evinced to render
aid and extension TO those who need it.
ENTIRE SOLVENCY OF THE NATIONAL
GOLD BANK.
A VOTE TO LOAN $l,OOO,000 IN COIN TO RESUME
OPERATIONS UPON.
SAN Francisco, Aug. 20.-Tho National Gold
Bank and Trust Company to-day authorized tho
President and Cashier to borrow 81 100000 IN coin
nm the real estate and securities of the institution
Tho bank is in excellent condition. II it were TO
90 into liquidation it could pay the stockholders
handsome premium after paying deposits in full.
The bank will not open for business for several
days yet. ..,,,.,,,,o,,
CONFIDENCE FELT IN TIE BANK AT WASHINGTON
WASHINGTON, Aug. 29.-The Controller oil the