The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1875-09-02
THE FEELING IN FRISCO.

CONDITION OF THE BANK OF CALIFORNIA
RALsToN's DEATH-YAs IT SUICIDE OR Apo
PLEXY?-THE STOCKHOLDERS.
SAN Francisco, Aug. 2S.-Ralston's body
has been placed in casket and taken from
his house to the residence of Col. Fay. The
funeral will take place Sunday and the in
quest this afternoon. No official
statement he's yet been made of the condi-
ton of the Bank of California. The direc-
tors applied to Flood and O'Brien for relief
Thursday morning and offered to presen:
to that firm the entire paid up capital stock
of the bank, namely, 50 ,0O0, 900; also the ST.
SOC, 600 In the bank, namely, 81 600, 600 in adj
dition, to be assessed on the the stockhold-
ers; in all S7,5O0,000, provided Flood and
O'Brien would for this consideration assume
the liabilities of the bank. The proposition
was declined. The bank had, no doubt, la
bilities of $l4000,000. and available assets
not far from $1,000, 900, which shrunk con-
siderably before being concentrated. The
true condition of the bank had been con-
cealed from the directors up to yesterday.
The directors of The bank of California met
at p. NJ, Friday, in a full meeting. Mr..
RalstOn soon entered, Mills promptly asked
RalstOn TO resign his position as pTesi-
dent of the bank. Ralston complied with
the request at once. Mills then asked him
TO leave the room. He did so. The direc-
II
brought that Ralston had drowned himself
The true condition of the bank had been con-
csaled from the directors and they professed
to be astound at the developments. The
stock holders will have to stand an assess
meDt of probably fifty per cent. Some
$500. GOV of the liabilities are in the form
Of acceptances for advances made by
our leading capitalists 10 strengthen
the bank, Governor Stanford holds
S4OO, 900 of these acceptances. California
street wears q quiet aspect this morning,
and it is believed that the excitement is
over. The banks anticipate no trouble dur
ing the day. The death of Ralston forms
the PRINCIPAL topic of conversation. Flags
are at halfmast through the city, and ex-
pressions OF regret and sympathy for
TIE DECEASED BANKER
are heard on all sides. Later information
tends strongly to disprove the theory OF
suicide, and the statements of the attending
physicians go to show that death resulted
from apoplexy while swimming yesterday.
Mr.. Ralsten transferred all his prop
s5ty tho to S Senator william bs c! s6ar0n
and Mr.. Sharon, in receiving the trust,
pledged his hon0rt 10 stand by his old friend
| to the last dollar of his own private fortune.
At the meeting of the trustees OF the bank
of California yesterday, Ralston promised
| that II the m8n6Rbu6Ht WAS lSlL III HIS
hands. he would pay dollar for dollar to the
depositors and fifty cents on the dollar to
the stockholders, but after an exciting dis
cussion il was decided to accept his resigna-
ton, Considerable difference of opinion
exists among the leading stock operators as
to the effect of the failure on mining shares
when business reopens, some claiming il
will have a beneficial effect, especially as re-
CARDS the Bonanza mines, as those CONTROL
ing them will now have better facilities fol
working them, as the mills owned
by the bank party will probably
pass into their hands. Others TAKE
a less hopeful view of the situation. Thu
affairs of the Bank of California have beer
: nut in the hands of an executive commit
tee. consisting of VIM. Alvord and Georg
III. Howard. ID. o. Mills, the ex-president
has not owned share of the stock Tor Tn
. last three years. The statement OF the con
dition has not yet been prepared, put re
liable information shows that the naDiiitie
3 will be upwards of fourteen millions an.
D the reliable assets from seven to eight mil
i lions. The principal stockholders VIII prob
q ABLY have to be assessed from forty to MT
3 cents on the dollar to pay off the liabilities
!. The following are the names of some OF tn
o principal stockholders; Barronestate, Tho