National Republican., 1875-09-09
CALIFORNIA.
Failure Of the Bank of Californis-Death Of
Ralston-A Hsart-Broksn suicids-Narrow
Escape from Riot.

Failure Of the Bank Of Californis-Death Of
Ralston-A Hsart-Broksn suicids-Narrow
Escape from q Riot.
Correspondence OF the National Republican,
SAN Francisco, CAL, Aug. 30, 1876.
have purposely refrsined from writing until
the present concerning the failure Of the Bank Of
California and the sad death of Ralston, its
president, that might be enabled to see the
final result, but find the longer walt for that
the longer will have to wait, for as time devel-
ops all the interests OF Mr.. Ralston and the bank
It will be found that their influence is felt on
this entire csast. A great many persons here
would have you believe that they knew the bank
was in q bad condition, but prudence forbade its
utterance.
THAT Is ALL BosH.
The only man who knew anything about It what
ever was Ralston himself, and when the bank
closed its doors 1t took him but few moments to
It's affairs, with the remark that If allowed to 20
oD he would pay every dollar Of Its indebtedness,
and nifty per cent on the capital stock. This did
not suit the directory, and they demanded and
received his resignation on the spot. 1t was this
action that broke his heart, and caused him to
attained power, influence and wealth Though
Rsiston's energy and ability, and he confidently
expected they would stand by him; but they did
the responsibility Of his death rest. What caused
the suspension Is q subject for general discussion
here, but the generally accepted cause Is over
reaching and
CARRYING TOO MANY BROKERS.
Suspension day" as Il is called, will be remem-
bered here as long as the city and country stands
Nothing can be compared TO Il, save perhaps the
memorable "Black Friday " In New York, men
and women and children shrieking and fainting
at every step. The excitement knew no bounds;
everything and everybody was Wild; but the
was drowned, and the news spread throughout
the city, the day previous was tame in compari.
was wal entirely suspended, and men. Homsn ISs and
children gathered at the street corners In angry
discussion, and but for the prompt action OF
and quickly giving out that anything ike mob,
ocracy would be promptly squelched, no one can
foretell what would have happened.
TcETuNATxIY rMHs was no ourIazAx,
bat Il was q very narrow escape from one, and
the Bullettn and caH may thank their stars that
they had led in the violent assaults on Ralston
and sSOnS suffer- son xss bIfeG sOdss
and fully nity thousand persons attended his
funeral. All business houses were closed; the
banks were draped In mourning, and, In fact, the
His loss viii not only Be sadly felt in this city
classes and in ali conditions Of lie. Poor Rails
toni enjoyed his friendship and partook Of his
hospitality. Peace to his ashes. The break was
stock-s5, COO OO0-has been resubscribed to-day,
and begin de moro in q few days, nrst paying of
all its liabilities, which will relieve matters here
very much. MAC.
MILLS LETTER TO THE NEW YORK HERALD.
PAN Francisco, Sept. ., Is75.
70 the Editor qfths Herald:
The directors OF the Bank of California refuse
to allev any official statement to be made con-
cerning the affairs and condition Of the bank un-
p til their work Of investigation Is fully COM
pleted. We are reorganizing the bank affairs
with view TO enable It to pay all Its debts and
to supply new capital. Success is now assured
beyond any doubt. and We confidently expect to
resume regular busnese in o short time. Mr..
Ralston was indebted largely TO the Bank Of
California but he leaves considerable private
estate, the proceeds Of which will 90 far toward
paying his liabilities.
The assets Of the bank are now In excess Of its
liabilities, Independent Of the new capital now
being subscribed. The community here Is show
ing the greatest confidence In our efforts st re-
erganiIation. Yours truly, ID. o. MILLS.
In the course Of Baptist dectrinal sermon de-
livered In Greensboro, Ga, ths rsyersnd colored
preacher illustrated the difference between the
Baptist and Methodist Ohurches By relating an
aneedote. as ONE years ago man ,fessed 'lirion
and piled to jine de Baptist Church. He gin In
his 'sperience, and was 1ected; 90 he went right
straight and jined de Mefodis.s Some time affer
dat brudder Baptis' sxed him: How disf We
wouldn't hab you, and de Mefodis' dun tux YOU
'Oh, says he, You old Baptis' want to make me
pay cash down, but de Mefodis' gin me six