Helena weekly herald. [volume] (Helena, Mont.) 1867-1900, 1875-09-09

day, one Friday, and the last on Saturday,
| will that be satisfactory?' He replied that
it would, and the checks were so drawn.
| The first was presented by Donohoe, Kelly
| s. Co. this morning, where it was left for
| collection.
| R-And it was paid?
F-Yes; but shortly afterward Mr.. Mills
came to me and said, ''If we cannot get re-
| lief the bank will have to go under"
| R.-What reply did you make?
FL said did not see how could render
any assistance, and he then went Off.
| R.--Did you deposit your two remaining
| $100, 600 checks:
F.-No, did not did not want to rest
under the mputation Of having closed their
doors, and concluded that l would rather
| lose the amount than press the payment.
R.-How much does the Bank of Calfor-
MIA owe you to-day!
| F,-The two unpaid checks-representing |
$500, ,000-and $17, 900 of the Consolidated
Virginia funds.
| R.-What is your knowledge or opinion Of |
| the recent condition Of the affairs OF the !
bank oo |
F.-They are in very bad fix; S13,O00,- |
| 600 Of deposits and $4,000, 900 of overdrafts |
is not a very good showing But it is fact,
and the sooner the truth is known the better:
| The bank now belongs to the deposltofs, ana
(! tUeV are entitled W tuS lulO1lHdtOu-
1 R.-What has caused the present strln5en-
cy in the money market?
F.-The fact Of there being no money in
the country. Within few days past 49,
OOO 900 has been sent into the country to
move the wheat crop, and that with the SHIP
ments to to the East has left us absolutely
| without money.
R.-Mr. Flood, if it is a fair question, how
much money have you withdrawn from cir
culation and locked up for the purpose OF
starting your new Nevada bank?
FL have not locked up any. have w.
O00, 900 loaned on security, and expected to
get in about 81, ,00O,0 outside OF this, with
which to open the bank. l thought that would
be enough ready capital to start with. A mix
lion dollars is considerable money, you
know. The four millions did not intend to
disturb, as it would have to be loaned again
if put into bank.
R.-But the report on the street is to the
effec: that you have locked up all the money
you could get hold of, and drew pretty heavy
on the savings banks! ;.
F.-The reports Of my locking up money
are all wrong; and, furthermore never goI
any money from the savings banks, nor have
any Of my people. have not borrowed
dollar, nor do | owe any one.
RIFF the bank had received any assist
ance, could it have pulled through without
being obliged to announce Il complete tall
ureI
F.-Ycs: if it could have been assisted to
the tune of SIC, ,0O0 BY the way, there
has no feeling existed regarding the Ophir
shaft, as has been intimated. The under
standing on that point was perfect. Regard
ing the mills, it was purely q matter OF busl-
ness judgment Sharon put price on his
mills; we did not consider them worth any
| t1,D tro6 do woo
, two mines never looked better than they 90
to-day.
R.-Is there anything in the mines to cause
the present depression and panic!
F.-Nothing. AS said before. the mines
never looked better The crash is owing
simply to the operations in the market.
, R.-Is it true that you have deposited IN
the Mint, and the First National Gold Bank
, over $2,0OO,O0U?
FL have in the First National Gold Bank
$96, 900, and two of my friends have deposits
of $60,OOO and $4,000. promised Mr..
! Hooper that this money should not be dis
turbed, and with it he expects to meet any
run that NAV be attempted in the morning.
Most of nv business was done with the First
. National Gold Bank AS a matter OF con-
venience, / have deposits with Donohoe,
Kelly g. Co., preferring to have two deposit
, cries. for the purpose of crOss-checklng.
Then / have bullion to the amount OF $65O,-
, 600; another 5000, 900, and 81, 20O 600 belong
ing to Consolidated.
. R.-Is it true that the Mint Is about to
work this bullion up so it can be used lmme-
: diatey
FL do not know 1t would, however,
t have good effect oo
!, turned out there in three days, if necessary.
F.-They could do no such thing. That
. amount could not be refined inside of eight
days.
q RI believe at one time you were nego-
tiating for the purchase of the majority OF
: the stock of the California Bank?
] F.-Yes. was offered $4,000 shares OF
: the stock at $40, which offer would have
e accepted provided they would agree to guar
/ antee such accounts as did not accept. Inc
8 capital stock of the bank was ,OOo,
s with surplus of 81, $50, 900. Ralston would
D not guarantee the accounts, but offered TO
turn in the surplus against the probable loss.
: This would not accept, offered to take a
bond guaranteeing the losses but such bond
r Sharon refused to sign. wanted the bank
4 just as it was-just as would buy any other
j. piece of property: did not propose TO pay
r 40 per cent. premium for gold pieces, and SO
t came to the conclusion that the best way was
to start bank of my own-one that knew
r would be clear from all embarrassments.
e This is the sum and substance of my negoti
: ations for the Bank of California.
: R-What explanation can you give OF the
t present decline in mining stock?
F.-simply lack of money. The only
q thing that has kept them up for the past few
4 dsvs waa cimrlv the money I put out. /