Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1875-08-28
The Financial Excitement.
Temporary Suspension of the
National Gold Bank.
Suicide of President RalstOn.
Other Banks Closing their Doors.
Savings Institutions Intact.
ID .pOsitOrs Running on Other
Banks.
Probable Crash In the Stock
Exchange.
The Financial Excitement.


SAN FRANCISCO, Aug. 27.-The Nation
al Gold Bank and Trust Company have
sent in the following notice for publication
in the morning papers!
Sin consequence Of the panic and i'm
possibility of obtaining coin, the National
Gold Bank and Tiust Company will close
until further notice. The bank has
S1,3O0,OO0 over and above all its liabilities,
and as soon as coin can be obtained will
| resume business as usual. In the mean
time any creditor desiring can have good
assets of the bank TO the amount Of his
claim. By order of board Of trustees.
"HENRY L. DAVIS, President"
The Merchants Exchange Bank closed
doors this morning. The directors have
prepared the following notices for the
afternoon papers: In consequence Of excite
menkand disappointment in getting coin,
the directors deem it for their best interest
and the interest Of all, not to open our
| doors for the present. The Secretary states
that the bank has 100000 in coin on hand;
amount liable on deposit SS00,0OO, but
against that may be over 100000 in notes.
The bank is perfectly solvent, the only
| trouble being the lack of coin. There is a
run on the London land San Francis
| co Bank, but manager Latham asserts
| its ability to meet all demands without
trouble. Crowds Surround the Bank OF
| California and the suspended National
Bank and Trust Company, also savings
banks, but the action of the officers of the
latter institutions last night effectually pre-.
vents a run on them. The excitement is
great.
The exchanges are all closed, and busi.
ness in state Of suspension. Intense ex-
citement prevails.
Excitement subsIdIng.
The excitement seems to be subsiding.
The crowd on California street, is much
less than at the opening Of business this
morning. Run on London and San Fran
cisco ceased with a large surplus remain.
ing in the vaults. A slight run Oh the
Anglo California at the opening, but soon
subSided. The First National Gold Bank
reports everything as usual; the same may
be said Of the Bank Of British Columbia,
Pacific and COmmel cial Banks. Private
banks all report no excitement and every
thing going on as usual. Generally all
city banks are considered sound, except
the Bank of California.
A rumOr, apparently from good author
ity, is that the bank will pay depositors in
full, and stockholders fifty cents; on the
other hand, prominent stockholders say that
the utmost the bank can do will be TO sat
isfy depOsitOTs, and scarcely that. There
has been a little rush at the Hibernlan
Savings Bank, but demands were promptly
met. Generally speaking confidence seems
returning. II is believed the worst is over.
But little uneasiress is felt as to the affairs
either of the National Gold Bank aud
Trust Company or the Merchants Ex-
change Bank. The former will probably
soon resume, though unable to fix the
time. They have abundance of available
assets and are only waiting the reception
of coin. The President this morning
states they paid out about million yester-
day, with a small supply LEFT. The Mer-
chants Exchange is believed to be sound
and suspension only temporary.
Probable Failures Of stock Brokers.
It is stated, on presumably good
authority, that some half dozen heavy stock
brokers are likely to 60 down. No names
given. No commercial failures yet re-
ported. a squeeze is expected next Mon
day, collection day. The savings banks
during the day have been doing the usual
business, deposits in some being larger
than disbursements. No excitement on
that line.
Suicide Of the President OF the Bank
OF California.
About ten minutes past five o'clock
close carriage drove rapidly to the side door
Of the Bank of California, a gentleman
jumped out in a state Of excitement, and /
ran into the Bank. In response to en- |
quiries he said he had just left the body of !
RalstOn, in charge of an officer on the !
beach near the smelling works, in the |
north part of the city, drowned. Ralston |
rode to Selley's smelling works wharf, and |
jumped of the dock.
Great excitement in the city. The death |
of RalstOn Overshadows every other topic. !
From the best information, it appears he |
went to the sea-bathing establishment at |
North Beach about 3:25 r. NJ, undressed, |
went into the water, swan about 200 yards |
and disappeared behind a vessel. Soon |
after the body was discovered floating by |
the Shelby works and brought ashore still |
alive. Physicians were summoned, but |
efforts 10 save him failed. He died ten |
minutes to five o'clock. Col. Fry, his |
fatheT-in-law, Mayor Otis, and a number of |
prominent citizens arrived before he ex- |
pired. Col. Fry aud Capt. Lee went to the !
bathing house and obtained Mr.. RalstOn's |
clothes. In these were founl few dollars /
and his statement TO the bank, but nothing |
having tendency to show why he commit |
led suicide. The body was conveyed to |
No. 10, ,1S2 Jackson street, the residence Of !
Col. Fry.
A boy named Festus Mazzele, states that |
be saw Mr.. RalstOn before he reached the
bath-hOuse; saw him sit on a clay bank !
near the Smelling works; saw him tear up
several papers and throw the scraps into the
water. Close search was made for the !
pieces, but none could be found. He was |
also reported 10 have been seen to drink |
the contents Of phial before going into the |
water. The general impression is that he |
took poison before entering the water.
The Board of Directors Of the Bank Of |
California held a meeting to-day, and Raj !
stOn was requested to resign as President !
and Director, which he did. 1t is believed |
all the banks will 90 on without further !
trouble, and the National Gold Company !
and Merchants Exchange Banks will re-
sumo Monday. The town is full Of rumOrs, |
and the streets at this hour, eight P. NJ, are !
crowded with people.
It is stated that arrangements have been |
made to call out the militia to preserve or
der, if necessary.
SZ1O,OSO IN Soak
City Tax Collector Austen has S275, 900 |
in the Bank of California, for which he has
certificates Of special deposits. The di-
rectors assured the Collector this morning
that the money would be paid in a day or
two. RunlUr, not yet confirmed, says Raj
stOn has turned over his private means TO
the Bank.
CHICAGO.
The Case Of EX-GRuger MiIIer-The
whisky Rings Version.