The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-08-28

the FINANCIAL EXCITEMENT IN CALIFOnNI 4
BAN Francisco, Aug. 27-The general feel
ing about town tonight il rather blue. Tho
Ossnler OF the National Gold Bank and Trust.
company stated to gentleman, during an
lntervlew this evening, that the bank would
open IN the morning. but might have to sus-
pend during the day.
This bank paid ali its gold in the afternoon
and good deal of silver. If il can make
arrangements tonight for coin it may be able
to ride over tomorrow. A run is expected on
the San Francisco and Merchants ExchanUa
banks tomorrow.
meeting of bank presidents was called
this evening to concert measures for relief.
The Board of Brokers has also called meet
ling.
SAN Francisco, Midnight, Aug, 26.-The
National Gold Bank and Trust Company have
sent the following notice for publication in the
morning papers: In consequence of the panic
aud the impossibility of obtaining coin, the
National Gold Bank and Trust Company will
close until further notice
| The bank has 81, 800, 600 over and above all
its Liabilities. As soon as coin can bs OBJ
tanned it will resume business as usual In
the meantime. any creditor SO desiring can
have good assets OF the bank to the amount Of
his coin.
By order of the Board of Trustees.
HENRY L. DAVIS, President.
CHICAGO, Aug. N.-The opinion of bankers
IN this city is the failure of the Bank of Cali
fornia will produce little, if any, effect in
Chicago.
SAN Francisco, Aug. 27-The Merchants
Exchange Bank has closed. The officers
claim the only trouble is the lack of coin, of
which they had 500, 900 of $4,000 liable to
draft
The managers of the London and San
Francisco Rank aqsart thar ability RI ~, aak
| the run.
The Exchanges are all closed, and business
| is suspended. Great excitement prevails.
SAN Francisco, Aug. 27.-The excitement
consequent upon the failure of the Bank of
California seems subsiding. The crowd on
California street is much less than at the
opening of business this morning
The run on the London and San Francisco
bank ceased with large supplies in the vaults.
The slight run on the Anglo California Bank
this morning soon subsidized.
|. The First National Gold Bank reports
everything secure. The same may be said of
the Bank of British Columbia, the Com
mercial and Pacific banks. The private banks
report no excitement, and everything is going
on as usual. Generally speaking, all the city
banks are considered sound, except the Bank
of California
President Ralston has said nothing in addi-
|
rumors are current regarding the condition
Of the Bank of California. One statement,
apparently from good authority, is that the
bank will pay the depositors in full, and the
stockholders fifty cents on the dollar. On the
other hand, prominent stakeholder states
that the most the bank can do will be to salts
fy the demands Of the depositors, and scarcely
be able to do that
There has been slight rush at the Hiber-
min pav1r hr1k
promptly met within the rules as expressed
oy the bylaws of the institution. On the
whole, confidence seems to be returning; it is
believed the worst is over. Little uneasiness
is felt as to the affairs of either the National
Gold Bank, and Trust Company or Merchants
Exchange Banks the former reports the
probability of soon resuming, though unable
to fix the time.
They have an abundance of available assets
which are only waiting the reception of coin.
The president this morning states that they
paid out about a million dollars yesterday,
and have still small supply left
The Merchants Exchange Bank is believed
to be sound, and its suspension Is only tenn
porary. 1t is stated on presumably good au-
thority that some half dozen heavy stock
brokers are likely to 60 down. No names
given.
No commercial failures are reported, though
squeeze is expected Monday. collection day.
The savings banks during the day transacted
their usual business, the deposits in some be-
ing larger than the disbursements. There Ia
no excitement on that line.
The Chamber of Commerce held meeting
this afternoon and decided that it would prob
ably be more luxurious than bene fetal to take
any action looking to wards the postponement
of ordinary accounts or notes maturing the
next collection day. The meeting was very
largely attended.
The city tax collector has $275 900 OF pro-
tested tax moneys on deposit in the Bank of
California for which he has certificates of
special deposit. The directors assured the
collector this morning that the money would
be paid in day or two.
SAN Francisco, Aug. 27.-Ralston, Presi-
dent of the Bank of California, jumped off
Selby's Smelling Works wharf this evening
and drowned. The body was recovered.
MOVEMENTS OF THE PRESIDENT.