Huntington advertiser. [volume] (Huntington, W. Va.) 1874-1921, 1875-09-02
MORE CONTRACTION.

the party in party measures, conlln-
ues IN insist mn contraction in the
face of the most convincing aigu>
ments that what they contend for is
impossible, without extending wide
spread ruin throughout the land. 1t
Is but a few weeks since the country
was shocked by the news Ofthe ruln
of Duucan, Sherman Il Co, and Il c
distress attending it, was spread not
only through this country, but To
hundreds of travellers in Europe, who
had their means invested in that
house. !And now, while the Repub
l:cans-of Ohio are crying out that
there lis too much money, too much
money, must contract the currency
and bring it down to the value OF
cod" here comes the news from the
California gold banks, which have
never suspended specie payment, but
done business on a gold basis all the
time. 1t must be remembered that
these are not sleoiieneering canards,
gotten up for effect, but sober truths,
truths which involve the loss Of
millions of dollars and the ruin OF
thousands OF people.
We add the kilograms from Cali
fornia, as given in the New York pa
pers.
SUSPENSION OF THE BANK OF CALI
FoRNIA.
SAN FRANCIsCo, Cal August 26.
The Bank of California stopped
paving checks II 2.45 to-day At
5 O'clock this evening the representa-
tives of the press met in the PreSi-
dents Office Of the Bank of Calltor-
MA when the following written state
ment was read
OFFICE OF THE BANK or CALIFORNIA. ;
August y, 1910 !,
The Trustees are under the pam
ful necessity of stating to the custom
ers of the bank and the public that
the bank is compelled to suspend
business. At this moment, and with
out reports from its agencies, we are
not prepared 10 make statement of
the situation Of the bank, but are now
examining It's interests critically, and
will at the earliest possible moment,
make definite report.
Bv order OF the trustees.
(Siguedl 5 +. FRANKLIN.
rBy Associated Press.
SUSPENSION OF THE NATIONAL GOLD
BANK AND TRUST COMPANY.
SAN FRANCIsCo. August 20, Md
niqRt.-The National Gold Bank and
Trust Company have sent the follow
ins notice toI publication in the NOR
ning papers !
''In consequence OF the panic ana
the impcSsibility of obtaining coin
the National Gold Bank and Trust
Company will close until further no.
tice. The hank has assets of 81, 30O,-
600 over and above all It's liabilities.
Ass soon rs the coin can be obtained
It will resume business As usual. In
The meantime any creditor 50 dc>i-
ring can have good assets of the
Bank to the amount of his claim. BY
order of the b, ard of Trustees.
TSignedl "HENEY L. DAVIS,
President"
TIE MERCHANTS EXCHANGE BANK
CLOSED. &C.
SAN FRAxCIsCo, August 27.-The
Merchants Exchange Bank has closed
The officers claim that the only troub-
le Is the lack Of coin ; of which they
have 100000, the amount liable TO
draft being 100000.
The managers of the London and
san Francisco Bank assert their abili-
" TO meet a run.
EXCITEMENT ~ THE CITY.
SAN FRANClsco, August -. The
exchanges are all closed and business
is generally suspended. Intense ex-
element prevails in the city.
Ii Is stated on presumably guod au-
thoritv that some half a dozen heavy
stock-brokers are likely to 90 down.
50 names are given. No CONNER
al failures are reported, though
.Jueeze is expected on MOnday-col-
lection day.
The Richmond Dispatch SAYS, "the
hard-money men have often refer
red to the Bank OF California rs an
example of an honest bauk-one that
paid out gold-one that did business
on honest principles, &c, &c. Thurs
day it suspended gold payment for
the very sufficient reason stated in
the telegram, that Eat present there
sno coin with which 10 transact bu
illness" According to the old saw,
SAMSON was 4 strong man and SOLO
mon was wise man. but neither of
them could pay gold if he did no,
have il. 30 Mr.. RalSton, the Pre~-
dent of the Bank, contents himself
with submitting to tie same inevita>
bic fate that the wisest and strongest
af men could not resist.
\ later despatch from California
says, ~ sensation. equal to any
seen here in some time, was caused
this afternoon at about o'clock by
the discovery that Mr.. Ral,ton,
President of the Bank of California
had committed suicide.
From the best information it ap,
IN