The New York herald., 1875-08-31
THE CALIFORNIA FAILURE.
Collection Day in San Fran
cisco Well Sustained.
THE FUNERAL OF RALSTON.
Important Action of the Secretary
Of the Treasury.
SAN FnANcrsco. Cal. August so.

SAN Francisco, CAL, August So 1875
prominent banker states that the immediate cause
of the demand by tho Directors of the Bank of Cahor
for Rason's resignation the discovery by them
during the investigation of lot of bills receivable
from irresponsible parties, aggregatng in tho neigh
borhood of 81, 600, with oollaerals. He also
stated that the intention of the directors to have
subsequently called Raston into their councils to avail
themselves of his intimate knowledge of the business
of the bank
Rumors a1oat this morning Of attachments
issued against the Bank of California but reference
the records shows nothing of the kind yet
II is reported that stockholders and others who
have borrowed large sums in amounting to
$500 0O0 for the benefit of tho Bank of California
curing their bills payable with the stock of the
bank, likely to become heavily dnvolved. The
stock of the Bank of California be given away
present
RESULT OF COLLECTION DAY.
Anumber of cases arc reported to-day in which COM
mcrcal paper has gone protest. in some instances
prominent firms, but no disposition is shown to take
any action on the protests or to push indorsers In
the majority of the notes have been partly paid
and renewed.
THE CLOSED BANKS.
The Merchants Exchange Bank did not open this
morning in accordance with the almost positive
surance of the Secretary given yesterday The officers
resumption than yesterday, but say that any delay is
merely temporary. The National Gold Bank and Trust
Company still closed and its officers unable to say
when they will resume but say the outlook is favorable
RALsToN's DEED TO SHARON
The deed OF Ralston to William Sharon conveys all his
property, real and personal wherever found and abso
Lutte ownership with the right dispose of the same
such and prices he deems best and apply
the same and the proceeds thereof and of property
hereby conveyed such purposes and as the said
William Sharon may in his judgment deem best for
joint and several interests
FUNERAL RALsToN.
The funeral of Ralson to-day the most imposing
witnessed in this city. The services were con-
Quoted at Calvary church. which crowded to its
most capacity, and OF citizens, numbering
probably 90 OOO gathered around the church outside
The interior of the church decorated with flowers
and funeral wreaths At the conclusion Of the services
in the church the funeral procession formed, and
consisted of the following
battalion of cavalry three regiments of infantry a
battery of artillery; Templar Lodge of Odd Follows;
the clergy and hearse, with the following palbearers:
r. F. Morrow, William Burlng, D. o. Mills H. p
wakelce, William S. Sharon D. D. Cotton S. NJ Wilson,
William Alvord, John o. Earl, Louis A. Garnet, NJ
Livingston, Thomas Bell, George s. Dodge Peter
Donahue Colonel W. II. L. Barnes, Ogden HoG.
Hdn, SorHeHuS Ooo, w. ~ NanuerSHCe, W.
R. DIETRICH, A. A. Cohen and Charles Clayton,
with the First infantry guard of honor
to the hearsc; followed by the clerks OF tho Bank
of California, tho regents and faculty of the
University, members of the Chamber of Commerce,
members OF the Stock Exchange and Pacific Stock Ex-
change members and friends of tho family in carriages
officers and employees of the manufacturing in
which the deceased had been interested and
of citizens numbering thousands brought up the
The services at the cemetery conducted according
to the rites of the Odd Fellows The streets of
the procession were lined with people and there
great gathering at the cemetery.
1t is reported here that the Assistant Treasurer in
New York warned the Secretary Of the Treasury,
week before the failure of the Bank of California of
what might be shortly expected The question of the
transfer of gold under discussion between Secretary
Bristow and Treasurer New when the telegram of the
failure of the bank received.