The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1875-10-03
BANK OF CALIFORNIA.

OPENING OF THE BANK INSTRUMENTATION
EXCITEMENT AND GREAT DISPLAY OF BUNT-
ING-THE DEPOSITS LARGELY IN EXCESS OF
THE wrrHDRAwALs--A STATEMENT FROM THE
DIRECTORS ON TUESDAY
SAN FRANCISCO, Oct 2, 1875
The doors Of the Bank OF California were thrown
open precisely at ten o'clock this morning. There was
vast of people California and Sansome
streets to witness the event, and the win
dows OF the buildings commanding view OF
the bank were thronged with spectators in
cluding usual large number OF ladies.
AS the doors opened there loud cheering and wav
ing Of hats and in rushed crowd of spectators graf
y their eyesight with view of the bank again in OPP
Grafton and to get glimpse of counters grooming under
piles OF gold. had view OF the whole proceedings
from tho office Of the Firemans Fund Insurance Com
pany, right opposite the principal entrance of the bank
and must say never saw such rejoicing before /
could see right through the bank, and the clerks
were more engaged in taking in than paving
out The vast crowd who assembled and
who pressed their way into the bank, just looked
around and came out again. laughing and shouting to
each other. For half an hour in pressed crowd after
crowd, and in few seconds they again. when
their curiosity satiated just like the first batch,
laughing and cheering The truth is the Bank of Cali
forna is without parallel in the United States 1t is rep
resentave of the whole Pacific coast and It's recupera
ton and opening this morning in greater strength than
ever the great triumph of all the States
and Territories tho Pacific slope over
the threatened bankruptcy that would assuredy have
resulted If the bank stockholders had not acted hon
oraby they have done during the panic OF five weeks
The Bank OF California represented the country's
growth wealth and prosperity hence the universal in
A SHOW OF HUNTING.
By preconcerted arrangement, as the clock struck
ton ap1t bank tha ali nj
bunting the principal places of business and the
streets gay as on the Fourth of July.
DEPosIToRs THAN RECEIVERS
IT is one hour since the bank opened and have Just
come from its counters. There are five times
persons around the receiving clerks than around the
paying teer's counter. President Mills around
the counters talking cheerful and pleased as a blush
ing bride. ] have not seen him smile during five
weeks. believe in one hour they have received in
deposits $3.50, 900 The enthusiasm is immense Bust
ness mon seem to be vying with each other to show
who has the greatest confidence in the future Of the
Bank OF California. There is on the counters and
in the vaults at least So 500 600 nearly tons of
$50 gold pieces. 1t is very pretty sight
STATEMENT TUESDAY.
II Is probable from this time onward that the
agement of the bank will maintain the usual reticence
to its affairs The stockholders will learn collectively
Tuesday, If they have not already learned the facts
separately az to how the bank stands, and then the
curtain falls between the institution and the public
The trouble which portion of the press here has made
to the bank by circulating statements adverse to its
prosperity has very naturally created aversion to
liberty OF this character. and President Mills will here
after shut down on the disturbers of the peace.
The HERALDs editorial Of this mornings date on the
resumption OF the bank teegraphed here and pub
shed entire by tho Ledger, and is the subject OF many
compliments.
A GOOD DAYS BUSINESS.
The bank kept open It's doors till everybody was
satisfied and when 1t closed at noon, usual Sat-
urdays, $780, 900 had been paid in and above all
that had been withdrawn and it evident that those
who withdrew did IT reluctantly and from business
necessity. There is nothing In the Eastern States can
explain this enthusiasm and confidence The opening
OF the bank, though in measure
strictly a financial transaction of cool heads
the less in its spirit and INTENT
the uprising OF the muscle brain pride the Paci
fc Coast against Islander and vituperation William
Ralston giant in finance, and the Of money
feengy acknowledge to-day by their aid to the bank
of which he was the manager. In all the buzzing of
the crowd in the streets heard everywhere, ssWhat
pity that Ralston not heren That the unver-
sal sentiment stepped into tho bank after the bust
over and far as | could see the directors
seemed delighted. Even Senator Sharon was happy,
and was enjoying pleasant laugh while the business
going inside.
hundred guns fired in honor of the occasion
SENATOR SHARON sERENADED.
Senator Sharon, for the noble part he has taken in
the reestablishing of the bank will be serenaded
complimented. He will say something no doubt, and
the days rejoicing will then terminate This episode
altogether is a remarkable page in American history.