, 1875-08-28


II tile lon9 run. They "lI hava gotten rid OF
Inc incubus OF tho Nank Of Ca'.tornls, WHICH
la1 aIwava hset--
lltra ,lr. /. ct,ar,]aou bethouelt himself that
he had excetd ID the lungsh Vi hin usual ro-
plies. nnd abruptly shut duvn. How tne Hen-
Lenco would haYa ended tho writer is unabo to
say. lie sricd hlt beat to ges it completed. but
porter waa conlrelled to con,fort himself with
he Thought tia. half Loaf was bettor than no
broad.
r. E. GooDElL.
Afr. Il. E. Goodel'. OF the Fourth National
Bauk, Was next subjected to tho interyiealpg
Iorture+ and yielded as follows:
Eoporter-Can you advance any opinion ~ to
khe Cause OF tho failure?
atr. Goodc1I-1 suppose there car hc but ops
opnou--that 1t MAS the result OF over spsoua-
tiur-
K.~-IIave you any knowledge IS to the class OF
NEGOTIATIONS thoy engaged in?
alr. G.-Unly what have heard from general
report.
N.-Do you think thelr spccutatious we're tho
Mr. CA gentleman Rtaeed 10 me- short
time ago that I4oHH Mclean, ono Of tho Direct
ors Of tho ban1, was offered tho pTeaidency,
but that he. mt kus the iooAa OF affairs, ie-
fueea tho postum and afterwards offered hia
stock on the ssroet. alr. Mclean then ent onlo
establish aoothet banking establishment, OF
which ho would bc manager. Four millions Of
capital wore paid in, aud ,ind"rHthnd sbot wera
just ready 10 START. He waa i'll Cnicago few
months ago. aud said in collysrsatlnu that ha
knew pArss who held s. 5U)un0 OF sto aomAud
papesof tho Bank Of California, and that that msu
nigh, break It any day. Naw.,ft3m tue fact that
tho bank paid out 81, l,4oo,o 900 yes:efdar, ms sdea
III that tue man had preBetted his pa?er. Put
ting that in connection With Mclean nc. h.
AttHtion, thina It IL by no naeas AL improbable
theory.
R.-What effect do you think tho failure will
bava On the n,nIng interests Of tho West Coast ?
Nr. f;.-I should judge 1t will bc yerY do
Pressing.
n.-Do won expect nn5 bad effect IN Chicago
or At the East :?
Mr. 0.-So Tho connection between tho two
sections Is mot e,ich as will crea'o any disturb.
hEco. I understand the bank hGs q balance Of
a., 100 here.
SYDNEY MYERS,
Mr. Sydney Mye:E. OF ths Merchants, Farmers
It Mechanics Bank, expressed himself -
folown: 1 know llttlo OF tho transactions
Of tho Bank OF California It's sYa.en
OF Investments, or tho gcnoEal availability
mediate cauno Of tho failure was ow.a3 70 tha
fact TINT dlsturhel condition Of afnrs in En-
gland and Oh the Cantinont Of Europe. having
caused lsrgo demands for gold, has caused thn
shipment abroad OF 40 much OF the circulating
medium Of California that uot enough OF thu
currency Of tho Westorr cosss remains In rho
country to mako tho daily exchanges.
GEORGE SCHNEIDER
Mr.. George schneider. pRcs!dost Of tho NJ
tionat Bank Ut Inois, In reBponso to the in
qni1y, To what IL tho fail1ro OF tho Bank of CAL
iforufa attributable? said:
| THO cauHe OF tho failure mas undoubtedly
| financial ballooniIg Misrepresentation In mining
| ssocks. It was vol known in banking
clrclos that the bunk was engaged IN
that business. and ID creating fictitious
1a!ues. aud going ons Of legitimate ehsn-
es.abEhing steamboat lines. and opening nInss,
] ail Of which waH toreiRu to their bna.f1obo. Be-
r1des, the bank ran up Tho Er!cea OF real estato
in s4n Francisco. In which II ha! hehsiy lnsost-
| ed =; she toil1pse catne hl,1 tue bank oa!apseI-
1t was simnly the ula story over agalu. Fisk did
tho Rama thlncs, only on a hmuller scale.
Nepostcr-Whnt win bo tho effect in Chicago
h1r. SIT will hayo no direct o5ect upon liz
| hpre. 1t may occasion ia Indirect damage. Tho
California connections wore chloty 10 England.
| and the failure will he telt sovetely 10 Eug{tnh
mining circles. 1t will tend to prevent io-
scs.nent IN Amerlca for tho time, and vi l.
1t cannot, however, disturb vi much, be-
cause. etnco tho panic Of 1917 awspt o7el
tho Northwest, We have had no speculative 90
tGrprlses foot-nn railway projects and tha
hku. Since 1873 wc hare been rising trom tho
BOTTOM AMI, thlnk, our merchants we're neyes
In botter financial conditon-thar ID, their busl'
! uena uover wns on snunder busia than ros
-.-----
cnw,n MAYNARD.
.fu r4w,,, N.1nar, r,shtee ~ the National
AAs' cooto 't"s o"'a' - =. ",saa =, ~.
Bank OF Commerce IN oe'o6 lnsof'1e"ea ~ ' W.
placo ot nuaiuesA, said that hs knew sery littld
OF the DAnk OF Ca!ifusnA. Ae. however, sn'
swercd tie following questons:
noPo''et-po "" H"P'0 '0oeaA' ~ ,,1 ~,
failure Of this Nank OF La1itoso,A "'a "0'o'
| Chicago Or ths East to Aoy e1tentf
: Mr. MA.nsrd-I q not eee tot' y ea1: ~
dealings betweou CkAtornla ant tne EAst ato
oompatatlvey smas', and there - anaoss Gu ~ uuo
inesa except mere exchange oo1"eon ea4caSs
aud thu Pacific Coast.
N.-Msy it not hayo soH'e enect On tne oooa
dence poop!o feel In btnks mere
LIT. M.-No. tu1hs not J ,n,a sno " ~ 'o.ot %. =
A why any feeling Of dIstEust should gro" Gut O
!, t.
R.-Thero was evefy Teason 20 shinx tne ean
. iu the cave Of Jay Coote' was thero notf