The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1875-08-28
BY TELEGRAPH.
,FinaactaI Panic Tn San Francisca.

/ Financial Panic TN San Francisco.
/ Especial telegram Cf the Dispatch
| WAsnrxar0N. D. c., August 27.-The
failure of tie Bank of California was the
occasion of great interest and much com
ment in the Treasury and in financial cir.
Giles generally to-day, and the general cpin'
ion among leading Treasury officials is thai
the failure is solely due to the fancy.stock
operations of the bank.
Over 81 ,0OO,O in gold were transferred
by the United States Treasurer to the As
sistaDt Treasurer in San francisco to be
placed to the credit of California banks,
whose agents in New York bad made de-
posts with the Assistant Treasurer in that
city. TlMoE.
1By Associated Prcss.I
SUSPENSION OF THE NATIONAL GOLD IANK AND
TRUST COMPANY.
SAN Francisco. Angus 26. MGniqht.-
The National Gold Bank and Trust Com.
pany have sent the following notice for pub.
lication in the morning papers:
"In consequence of the panic and the i'm.
/ possibility of obtaining coin the National Gold
Bank and Trust Company will close until
further notice. The bank has assets of
81 800 900 over and above I'LL its liabilities.
Az soon as coin can be obtained it will re-
sumo business as usual. 10 the mean time
any creditor so desiring can have good assets
of the bank to the amount of his claim. BY
order of the Board Of Trustees.
[5igned1 HENRY l.. DAVIS, President"
THE MERCHANTS EXCHANGE BANK CLOSED, &C.
SAN Francisco, August 27.-The Mer-
chants Exchange Bank has closed. The Off.
GERS claim that the only trouble 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 ability TO meet a
run.
EXCITEMENT IL THE CITY.
San FRANCISCO, August 27.-The ex-
changes are all closed and business is ge-
uerally suspended. Intense excitement pre-
walls 10 the city.
TIE FEDERAL TREASURY TO THE RESCUE.
WASHINGTON, August 27--Heavy trans
fers Of gold to California are being made by
the Treasury to-day in support OF the banks
of that section. Upon official notice being
received ut the Department that the agents
of the banks have deposited gold with the
phic instructions were sent to the Assistant
Treasurer at San Francisco placing credits
to the respective banks making such depos-
its in New York. Thus far over u million
dollars have been transferred.
TIE EXCITEMENT NEUTRALITY-SUSPICIOUS. OF
OTHER BANKS, ETC.
SAN FRANCISCO, August 27.-The excite
ment consequent upon the failure of the Bank
Of California seems subsiding. Ibe run on
the London and San Francisco Bank has
ceased, with large surplus in values. There
was a slight run on the Anglo California
Bank this morning, but it soon subsidized.
The First National Gold Bank reports
everything secure, and the same may be
said of the Bank Of British Columbia, and
the Pacific, and Commercial Banks. The
private banks report no excitement, and
everything going on as usual. Generally
speaking all the city banks are considered
sound except the Bank of California.
On the whole, confidence seems 10 be re-
turning, and it is believed the worst is over.
But little uneasnesS is felt as TO the condi-
ton Of the National Gold Bank and Trust
Company, or the Merchants Exchange
Bank.
1t is stated on presumably good authority
that some half dozen heavy stock. brokers
are likely to 60 down. No names are given.
No commercial failures are reported, though
q squeeze is expected Monday collection
day.
The Chamber of Com merce held a meet
ipp this afternoon and de cded that it would
probably be more injur GUS than beneficial
to take any action looking towards the post
ponement of ordinary accounts or notes
maturing next collection day.
The city tax.collector has s275, 900 of pro-
tested taX-moneys on deposit in the Bank Of
California. for which he has certificate OF
special deposit. The directors assured Ibc
collector that the money would be paid IN
day or two.
SUICIDE OF PRESIDENT RALSToN.
SAN FRANCISCO, August 27.-Mr. Ralston,
the president of the Bank Of California.
Jumped off Selby's smeting-works wharf
this evening and was drowned. The body
has been recovered.