Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1875-08-31
The Bulletin and the Call Fully Sup.
ported by the EXaminer-BiOgraph-
teal Sketch OF Mr.. RaIston.
Startling DiEcIcsEres Pr8mi' ed-EulO-
gies and Funeral HOnOrs-The Bank
Eas Rotten Through and
Through Wreck.
Complications - Heavy StOck Brokers
and Capitalists InVeIyed-A 6Ood
Disposition Generally Manifest
ed-The Interior Not
Affected.
THE DEAD PRESIDENT AND HIS INTER-
ESTS,

ESTS.
SAN FRANCISCO, August 2S.-Ihe
deed of RalstOD, to VIM. Sharon, con-
veys all his property, ''resl and personal,
wherever found. an absolute ownership
with the right TO dispose Cf the same on
such terms and prices as he deems best,
and to apply the same and the proceeds
thereof and the property hereby con-
veyed to such purposes and uses az the
said VIM, Sharon may, III his Judgment,
deem best for our joint and several In
teresls." The board Of supervisors yester-
dsy met with closed doors, and it trans
pires that 8 heated discussion arose. and
the policy Of taking no action with re-
gard to a resolution in memory of Raj
stOu was adopted with only one dissent
ing vote. A majority OF the board sig
nified their intention Of attending the
funeral in private capacities. Business
will be, to z great extent, suspended
during the funeral to-day.
REVIEW OF RALsT0N's CAREER,
SAN FRANCISCO, August 2S.-The
Bulletin this evening has the following
editorial remarks On the death OF W. G.
Rslston. "Our community was more
painfully surprised by the announce
ment Of the death OF Mr.. W. G. Rails
ton yesterday than by the failure
of the Bank Of California, which had
Just pre- ceded this tragic event. The
failure of that institution was the cul.
mination OF Mr.. Ralston's financial
management. He had been allowed
full swing, or 50 near so that he was
RESPONSIBLE for the bank management,
and probably for q long time past he
alone knew its actual condition. When,
therefore, on yesterday after the late
president had made his statement TO the
directors OF the hank and they promptly
took the further management Of its st-
fairs out of his hands, RalstOn ceased to
live almost simultaneously with his
ceasing to be president Of the bank. 1t
was an unfortunate ending Of once
powerful institution and the tragic end
ing of life. Great az we're the financial
abilities of Mr.. RalstOn when ne WIS ad-
Vancei to the head Of the bank there
was an inception Of that failure which
eliminated yesterday. MI. Ralston had
the dash, nerve and quick impulse
which belong to that class OF men who
make brilliant spegulauOns, sad are as
often oveTtaken by disastrous effects.
He was bold and strong willed,
and was taken for financial
q man Of great reach and enterprise
SO that the management Of the great
banking institution instead OF being
made an exclusive business was only an
item in the multiplicity Of his affairs.
Mr.. ROlstOn engaged largely and lost
heavily ffOm time to time in outside
speculation. He was heavy operator
in stocks, and made large sums in the
operation in Belcher and probably lost a
much larger SUM on his more recent
operations in Opher. In this last opera
tion the losses Of the pool are said to
have been hardly less than three mill
lions, Mr.. RsistOn lacked the discipline
of an early training. If victory did not
come with q bold dash, reverse was
pretty certain to follow. He could work
out nothing by any patient or slow pro-
cess Of reasoning. He was forward with
the first impulse or intuition, or either
to succeed or defeat with the great insti-
tuition at his back. Theglamour OF suca
power made him even more aud8ciOus
and reckless. He could, and did plan
some good things for private individuals
and some cad things for the pubic, 1t
was only when he attempted to initiate
public enterprise in a way TO make them
subservient to specuiatiOns that the
Bulletin ever made Issue With Mr., Rails
ston. We had many long and earnest
interviews with him at our office, and
at the end of which he always left fully
determined to carry his own plans, but
was fully informed that the Bulletin
would defend the public, before
private speculation, lot what would
come. 1t was MIR. Ralston's
course on the question OF
great public movement, involving mil
lions Of dollars OF public money, which
made those criticisms necessary. We
have never for . moment doubted the
iusiica OF these comments, and do not
doubt them to-day. Mr.. EAlSton's reia-
ton to tbess interests was one that
looked to the subOrdlnatlon OF them TO
private gain. he had lost heavily, and
could not see why he should Lot be per-
mitted to make up his losses ct the pub
lie expense. II he was sometimes ready
TO serve the publiC with his great oppor-
| tunity, he was alsO ready to demand
concessions from the same public, which
could not be made without great and
| nCsIfive datriment to such interests, He
! thought it right to elect cIhceTs 10 shape
| municipal and, il need pe, State govern
| mants. so that his plans should be more
/ readily executed. Whenever this was
! done his enargy and his aUtOcratic am
| hilton were put to dangerous use. NO
| icuruel conducted in the Interest Of The
! nublic could hesitate for moment as 10
/ The line OF duty. we inteTposed only
when public measures, WHICH he had
! origipsted ard was pushing 10 danger
! ous contamination, made ourduty clear,
and we never besitated 10 warn the pub.
Iio Of danger, being willing to take al
the congl 5uenees that might follow.
| The deyelopmeBts Of the last few
/ dsys afford so complete Nina.cstlOn or
| the BilVetia that We are pot disposed 10
add more when nothing from the ATst
! was wanting If there w5Tc any reasons
/ IN, regret il would be in this, mat or
warnings and our criticisms bad not
been even more emphatic and persist
eut, that some greater EiCgatlOn OF
the public evil might nave b2en secured
This is a time for calm, dIspssslonate
! review. We don't shrink from making
( it, in the light Of recent events. we
I could Wish that nothing had occurred 20
I make such q review necessary, but our
opportunity, while we do justice to the
dead, we don't forget what justice and
truth also demand for the living.
THE PRESS SUPPORTED.
SAN FRANCISCO, August 29.-The
Examiner said last evening editCfially:
'sWe do not believe the recent assaults
of the Bulletin ana CAL on Mr.. Bal
ston and his contemplated schemes,
csussd the suspension OF the Bank Of
ChliforniS. That concern was wrongly
conducted, snG reached conclusions
which befslls all mismsHsged iDgtitu-
tions OF like character, bet If the jour
nsic named are justly chsIgesble with
the sus,.-.lsion OF the bank tney deserve
credit therefor. The T1tteHnCFs Of its
condition could not be exposed too g0on
While we sympathize with the losers by
it's ALLURE, il any shall finally be SO, it is
better for the public that the crash
should come before hundreds Of others