The Eaton Democrat. (Eaton, Ohio) 1875-1903, 1875-09-09
ANOTHER FINANCIAL CRASH.
The Gteatest Bsfbins Institution of the
Pacific Coast Gone Undef-A wild Panic
I'm tn Ia Golden CITY.

ANVIhnn ElNANOlAh OhhSJHs
The Gteatest Bathing Institution of the
Pacifc Coast Gone Undef-A wild Panic
in the Golden City.
Isan Francisco tAug. 2s) Cor. Chicago Times.l
Had an earthquake struck the city of
San Francisco, or laid waste the Pacific
coast, there could not POSSIBLY, be ATTY
greater excitement over the DESTRUCTION
of material interests than there is here
tonight over the terrific blow that has
been str,,ck at commercial and financial
relations. The suspension Of the Bank
of California, the great money center and
moving lever 5f the busitess of the slope;
has come so unexpectedly and it is be
heved has involved SO many people in If
retrievable ruin, that it may well be
hkefied, t6 ,ofie OF those natural convul
sion5 Which her5 50 often lay, desolate
whole areas of country. N6tfffhg hke
this has ever Before occurred on this side
of the mountains, and at the present writ,
ing it is impossible to estimate the actual
extent of the loss that has been sustained.
1t has long been the familiar proverb on
this side Of the continent that the Bank
of California was the backbone of finan-
cial interests here. that it was the main !
stay, the bulwark; 90 to speak; OF Cab;
fornia's commercial reiations and that |
it influenced, controlled, and swayed all |
things Of a monetary character; not only
in this State, but along the whole line of |
the United States on the Pacific coast,
and held within its grasp the. auriferous
and argentiferotfs wealth of the back
country far over into the mountains OF
Nevada, Idaho, and Montana. Headed
by wide-awake and progressive business
men, imbued with all the enterprising
instincts of the farseeing Californian,
this bank has won position which was
recognized as ominently leading, and
which has made of it an institution which
was looked up to as the very Gibralter OF
| institutions, Of its class. There was
scarcely an interest in the State which
did not feel the fostering hand of the
bank. Its money was injected into in
| Vulnerable undertakings, from factories
to silver mines, from printing offices to
palaee hotels. With the. view to build
UP and maintaining tile commercial dig
nifty of the State, the bauk lent its aid to
such ventures as promised substantial
returns. Having been successful IN the
l DHSG IL ctille W Do lOOh6u upOu uo uii-
questionably sound for the future.
There was not the least intimation this
morning, at least so far as the general
public was concerned, that tile bunk was
treading over treacherous ground. There
was tile customary feeling of security in
financial circles, and nothing unusual was
noticed at the noon call of tile stock
board. Shortly before o'clock, up to
which Hour the bank had been meeting
its obligations, the doors were closed.
This was the signal for an unusual ex-
citement, California street, which is at
best little less THAN Babel, became in q
few moments the center of a perfect PAN
| demonillm. From Battery to Moftguni
cry street the scene was one OF indie
scribable trlmult. 1t did not take many
tni1tites for the NEWS to become noised
throughout the city, and the result WAS
that the thoroughfares leading to the
bank were soon fairly impossible. Ex-.
cited brokers stood upon the payements
frantically canvassing the situation, while
staid bankers, whose interests were more
or less involved in the cause of the ex-
citement, were httffying to and fro,
seeking vainly to gain admission to the
rooms of the directors of the collapsed
institution. Business men with deposits,
which are supposed to be swallowed In
the general ruin, added their share to
the hubbub, while the noise was height
ened by the newsboys who were soon
CRYING the fact, which was blazohed in
faring headlines upon the pages of the
afternoon papers.
/ As soon as the doors of the bank were
closed and sufficient guard of police
stationed to protect the premises, meet
ing was held in the Trustees room. This
conference was held in the presence of
representatives of the press of this city.
The capital of the bank was So, 900, 600,
and it Is presumed that the failure will
exceed this amount many times.
Suicide OF w. G. Ralston, President of the
} Bank. .--...,
A San Francisco dispatch of Aug. 2s
gives the following particulars of the
suicide of Ralston, the President of the
suspended bank: ...---..,f.
At about 10 minutes past 8 close car
riage drove rapidly to the side door OF
I the Bank of California, gentleman
l Jumped out in q state of excitement, and
, ran into the bank. In response to in
qulries, the haekman SAID he had Just
left the body OF Ralston In charge OF an
officer ON the beach, near the smelling
! works, IN the south part OF the caey: Il
was quickly learned tnat haisto1 rode u
9 off tIe dock
8 From tbe hest Information. IT appear,
1 be went TO a sea-hatbinp establishmen
Y ~ tha nortb heocb about a.1h N m
: ''ndroosaJ q" e I " Won't | into TN" tbe water swan m
a uhoI,t ooo 80 w ond I J;sa,,,,aarsd hoJ';n,
v aD0as n"sSo1 IO' Snon s ofter & h;s bodv was dis
n J aoot;,,o - A. SaIbv Ioo,
: o 49, ny ~ hI.s,,r6t ash,ro> st;lI oi;Ho
"oinI' I; an ' usn a,,n,noonoJ h,,
PhJstoiaH was ;.,t" I,;n, f,;,oJ
ehorIs 70 tos.i'oi.a'o I'M ,o =.
boy named Festus Mazzie, states tina
) he saw Mr.. halston pelore ne reaches
d the bath mouse saw MN SIT on tne cia
't bank near the smeitang WORKS saw mn ~
7t tear up several papers ana tnrow VI
le scraps into the water. A close seatcn wa
le made for pieces, but none could b
/ found. He Is also reported to have bee
h seen to drink the contents OF phla bt
le fore going into the water. The gener'
IF impression is that he took poison befOI
q nnter;ng an tbe "a water The hoard of a
Il roctors Of the Rank of California held
oot;,,o T., To-, Rolo,o, MO. rooposto