The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1875-09-02

A boy nameu feSIuS habAoi0 oV"'S' ~
saw Mr.. Ralston before he reached the
hath house saw him sit on the clay
bank near the smelling works; saw nm
tear up several papers and throw scraps
into the water. A close search was made
for the pieces, but none could be found.
He is also reported to have been seen to
drink the contents ofa phial before going
into the water. The general impression
is that he took poison before entering
the water. m
Mr.. Ralston was native of Wellsville,
Ohio, ard he was engaged some twenty
six or twenty-eight years ago as clerk on
Pittsburgh steamboats,. Mr.. Ralstoh was
conspicuous in an occupation that tests
the qualifications of q man as severely
as any. Steamboat clerking requires
faculties not possessed by many, as Is
fully proven by the fact that Mr.. Raj
ston, in his subsequent career in Caliior-
mia, was remarkably successful He be-
came president of the Bank of California,
which had a paid.up capital OF S9,OoOo'-
900, and numerous branches in Paclhc
states. Mr.. Ralston has a magnificent
home some thirty miles from San Fran
cisco, and to indicate the style in which
he entertained his guests IL needs but to
! be said that no less than eighty horses
were kept at their disposal.
Innumerable were the speculatlons IN
wdich Mr., Il. entered. Hundreds OF
gold and silver mines were owned by
him, or the bank of which he was pre-,
siding officer. The most profitable OF all
his speculations was that by which the
monopoly of all the quicksilver of the
State was secured. The Grand Pacific
Hotel of San Francisco owes largely Its
size and scope to the genius of the men
with whom our hero associated. 1t is
not vet finished, although almost two
million dollars have been spent upon it,
Senator Sharon acquired Mr.. Ralston's
interest in this enterprise some months
ago. 1t is no figure Of speech in this IN
stance to say that he entertained his
friends like prince. He dispensed good
cheer with a liberality unequalled, and
possessed rare tact in distributing his
bounties. No more agreeable, liberal or
entertaining host could be found than
the President of the Bank of California.
HEAVY TRANSFERS OF GOLD BY THE GoV-
ERNMETT.
WASHINGTON, Aug H.-Heavy trans
fers of gold to California are being made
by the Treasury to-day in support of the
banks of that region, upon official notifi-
cation being received at the Department
that the agents of the banks have depos-
tied gold with the Assistant Treasurer at
New YORK. relegraE hic instructions are
sent to the Assistant Treasurer at San
Francisco, placing credit to the respective
banks making such deposits in New
York. Thus far over 100000 have
been transferred.
THE CENTRAL PACIFIC RAILWAY ALL RIGHT,
NEW YORK, August 27-Fisk & Hatch
say the bank had no interest as investors
in the Central Pacific Railroad. The
Secretary of the Company in this city
confirms this statement, but says that
the Central Pacific Railroad had an ac-
count with the bank, and had made
loans from it, He had not heard that
the condition of the bank had been con-
sidered unsound by the bankers. Per
sons interested in the affairs of the bank
are positive in their assertion that the
bank will, after short time, be able to
satisfy all its creditors.
The failure of the Bank of California,
while Immediately caused by the deposit
tors run, was directly the outcome OF a
conflict between two classes of California
spectators, one of the Bank of Califor-
MIA party, headed by Mr.. Ralst0n and
Mr.. Sharon, and the other headed by
Messrs. Flood, O'Brien and Haydentelt.
The latter party have established bank
in San Francisco, called the Bank Of Ne
vada, with cash capital of ten millions
of dollars, gold, and the right to increase
to twenty millions dollars Incidental
to this fight have been the mining pro-
perties known as the Savage, the Gale
donia, the California, the 0phir and the
Consolidated Virginia.
Strained of late and pinched, it has
been evident to BANKERS here who have
Stunned their bills from the fact that in
the past sixty days most of the bills offer
ed in this market have been those of
other institutions endorsed by the Bank
of California. The inference has been
that the Bank of California had hypoth-
ecated securities with those who lent
their bills, aad that this borrowed ex-
change was used to obtain friends need
en- to carry on the large operations of the
Bank. In the borrowed bills which
have so appeared were those Of the Bank
of British Columbia and Bank of British
North America. The amount of unac-
cepted bills of the Bank of California in
this market is small.
The banks London correspondents
were the Oriental Bank, a strong unlimi.
ted institution, one of the best in Lon
don, having capital of Gl 100000, and
a reserve of 100000, so that the direct
losses of the failures here are cOmpara-
lively small. Most of the decline in the
stock market, previously noted, has been
recovered, Panama excepted. The weak
nees in Panama is occasioned in the i'm
preston that the stock il largely held in
San Francisco.
EXCITEMENT IN NEW YORK AND LONDON.
The financial and commercial circles
were thrown into state of the greatest
excitemant at the opening, by the report
of the suspension of the Bank of Califor-
MIA, and for time the utmost confusion
existed in the Gold and Stock exchanges
the price of gold rising plump to l144,
while stock declined one to two points Oh
free pressure of sales.
Dispatches from London say the mar.
ket shows fair degree of 6rmness, and
in most cases is quotably higher.
AT the opening Of the Stock Exchange
there was rush to sell and for time
the noise and din was equal to a first
class panic occasion.
The news of the suspension Of the |
Bank Of California this morning produc-
ed considerable excitement among the |
depositors and creditors generally CT that |
institution in this city. The offices of |