The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1875-09-02

~
]. B Thomas, Asa T. Hamton, George How
ard, VIM. Morris, John o. Earll, John Par
rott, ID. j. Tallant, Michael Reese, d. o.
Mills, Mark Livingstone and o. +. Griffin.
METROPOLITAN MUSINGS.
THEY ARE TO THE EFFECT THAT 1T Is nor
MUCH OF A sHOwRR-CoMMENIs OF THE
PREss-sTATE OF THE MARKET.
New YORK, Aug. 2s.-The concurrent
testimony of the bankers and financiers
here is that no injurious effects are likely to
result in the East from the suspension of
the Bank of California, SanFrancisco. One
gentleman who seemed thoroughly informed
regarding the financial business of Cslifor-
MIA, stated that the Flood aud O'Brien
party, though distinct from the clique of
the Bank of California, had in no way Joined
on the contrary, for several months, ever
since the rumOred embarrassment of the
corporation, published during the past
spring, had done everything in their power to
sustain the lettering institution. To this end
the incorporators Of the new Bank OF Neva-
da had received proposition from the direc
tors of the Bank of California to purchase
their good will, bot an investigation OF the
books made it evident that this could not be
done, except at great loss at the
terms proposed. In general terms, the
Flood and O'Brien party, though they had
gained the supremacy in the great Nevada
mines TO the exclusion Of the Bank of Cali
fornia, did not care to see the latter fall TO
the ground on account of the damaging Ell
feet 1T would have, not only upon their own
interests, but throughout the coast. Mr.
Laidlow. of Ludlow d Co., the New York
agents of the Bank OF California, states that
the first Information any one
in the Office had upon the subject
of his suspension was contained in
the morning papers. Since then, up to a
late hour yesterday, they had received no
additional information to that which had al
ready been published. Mr.. Laidlow says
that all the bills drawn by them had been
Endorsed as the agents OF the Bank OF Cali
fornia and consequently they were not indi-
vidually involved. The evening Post fur
nishes the Glowing in advance of publica-
ton: The Wall treet markets are all quiet
to-day and stock are higher. The adviceE
from San francisco contain nothing start.
ling save all to the effect that
AFFAIRS ARE INTENDING.
The latest dispatch, IN which we place i'm
plicit confidence, is to banking house here
from their correspondents there. 1t was
dated at five yesterday and received this
morning. It is as follows: "The panic is
over. Confidence is returning. Coin is
scarce, but the transfers from New York
will probably be returned" The transfers
referred to are those made yesterday
through the sub-treasurer's bankers, putting
gold into the sub.tressury here and
on telegrsphic notification taking it
treasury. The impression prevails that the
San Francisco Stock Exchange will be
opened Monday. We also hear that there
has been no run on the banks in the
interior. The estimates of the liabilities
and assets of the Bank of California which
noxr hcn mt hnro 80 L.
will amount to about S14, 900, 900, and the
latter from 100000 to S6,000,0O0. Whether
the stockholders OF the bank are liable be-
yon6 the amount of their stock for the
debts OF the bank, we have been unable
to ascertain. Beyond doubt it makes an
important difference to the depositors and
creditors of the bank as, if they are liable,
the creditors will get dollar for dollar, one
of the stockholders of the bank alone being
reputed to have property to the amount of
twenty millions. The stock market is
strong and higher than yesterday with
Western Union Telegraph, Lake Shore,
Pacific Mail and Union Pacific as features.
Prices were fraction higher than yesterday
at first. There was q decline of from one
quarter to three-eighths, W hich was as quick
~ made up and was followed by an advance
OF from 4 to 239 per cent.
WHAT THE EVENING PAPERS SAY.
The financial writer's in the evening pa
pers almost entirely ignore the California
commotion, seemingly believing that the
collapse of bank or two there cannot ma
terially affect business away from the Pa
cifc. Applications were made at the treas
ury to-day for transfer of six hundred
thousand dollars in gold to San
Francisco. Only one hundred and
twenty thousand dollars in coin has
been deposited on these applications, for
which Geographic transfers have been made.
The secretary says he will not issue trans
fers beyond total of S. 100000. There is
some demand for sterling, and is has been
sent as cheap as 81 IS 10 the pound sterling,
drawn on the London correspondent of one
of the San Francisco banks, and the pro-
ceeds transferred by telegraph. A published
communication late to-day confirms the
story sent early this forenoon, that it is an
error to say that the Bank of Nevada caused
the failure Of the Bank of California by
locking mp gold, ETC., as the Bank Of
| Nevada is not yet jim operation. Its
manager, Mr.. Louis NJ. Lane, arrived at
San Francisco from Baltimore with his fami-
ly only q week before the failure and could
scarcely have begun to put matters in shape
for opening business as soon as September
l. Louis NJ. Lane, was formerly the man.
| sger of Wells, Fargo & Co.'s house in Ssn
Francisco. Flood and O'Brien never have
been in the banking business, but are well
known and successful stock brokers. i
was privately known in California in May
last that Mr.. Ralston was seriously embar
raised, but not that his operations had in
volved the bank.
ECHOES OF THE CRASH.
IN LONDON.
NEW YORK, Aug. ga Londol
dispatch says that the president o
the Oriental Bank of London, tn
agents for the Bank of California, states tina
the failure will in no way affect his institu
ton. To prevent loss and annoyance,
possible, the Oriental bank is endeavorinl