The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1875-08-30


ChaniCal, were taken into the enlarged
corporation, and they represented in
their private aggregate about 500, 900, 900.
THE FAR REACHING INFLUENCE OF THE
BANK.
The institution was prosperous from
the beginning. It's owners became rich,
and their ambition found new and other
fields for operation. 1t grasped control
Of the commerce OF the Pacific Coast, II
secured monopoly Of the quicksilver
production. 1t entered into the business
Of buying mining stocks, and played bull
or bear, rs the circumstances demanded.
1t extended its operations to Oregon,
British Columbia, and even grasped the
control of the fur trade in Alaska. II
erected itself into financial deposit; il
controlled the grain market 1t dictated
to all the other banks; 1t regulated the
rates Of discount and the terms on which
loans were made; 1t crushed merchants
and bankers remorsClessly; II, in one way
or the other, controlled tho trade with
Japan and China, and the importation Of
teas, The whole coast trade and that
with the Sandwich Islands was under It's
command. II was universally feared and
hated, but 1t defed all opposition. Its
business with England was immense, and
1t had also large transactions with France,
It made the foreign exchange for Cali
iorni and all :the Pacific States for
the Sandwich Islands, and for the Japan
and China trade done through San Fran.
cisco. II had correspondents and iinan-
cial agents in NIL countries. 1t included
in its operations Nevada, over which il
exercised rs great n control rs over Cali.
iornia. 1t putup the price Of stocks and
lowered them At pleasure; 1t bought and
sold grcenbacks; itdealt in all manner Of
deprecated aud unGurr, NJ securities, II
went heavily into railroad construction,
In fact, there was no branch Of business in
which the bank did not engage. Item.
ployed an army Of subordinates, It made
men rich, or ruined them, ut will. II EN-.
barked extensively In politics, and recent.
ly 1t organized u party Of It's own, and
nominated an entire ticket OF Its own
selection,
THINGS LOOKING QuIETER
San FRANCISCO August ?s.-Callfor.
MIA streets wear Il quieter aspect this
morning, and 1t il believed the excite.
ment Is over. The banks anticipate no
trouble during tho day, The death OF
Ralston lOrms the principal topic Of con-
versation. Flags are at half mast through
the city. Expressions OF regret and sym.
patty for tho deceased banker are heard
on all sides. Later information tends to
strongly disprove the theory OF suicide,
and statements Of attending physicians go
to show that death resulted from apOplexy
while swimming yesterday. Mr.. Ralston
transferred all his property to Senator
Sharon, for the benefit Of creditors, and
Mr.. Sharon in receiving the trust pledged
his honor to stand by his friend to the
last dollar Of his own private fortune. AT
II meeting Of the trustees OF the Bank Of
California yesterday, RalstOn promised
that II the management was left In bis
hands he would pay dollar for dollar to
depositers, and fifty cents on the dollar to
stockholders; but atteran exciting discus.
sion II ives decidedto accept his resigna.
ton. Considerable difference Of opinion
exists among leading stock operators rs
to the effect OF the failure on the mining
shares when business reopens some claim.
ing that ii will have q beneficial effect,
especially as 1t regards the Bonanza
mines, rs those controlling them will now
have better facilities for working them,
as tic mills owned by the bank party will
probably pass into their hands. Others
take less hopeful view Of the situation.
The affairs Of the Dank Of California
are put in the hands Of an Executive
Committee consisting Of YIN. Alvord,
George II. Howard and D. 0. Mills. The
ex.President has not owned q share oil
stock for the last three years. The state.
ment OF its condition Is not yet prepared,
but reliable information shows TINT the
liabilities will be upward Of $i4,00O,000,
and the reliable assets 100000 10
$s,OOO,OOO. The principal stock holders
will probably have to be assessed from 40
to 80 cents on the dollar to pay of liabil.
tiles. The following are The names Of
some Of the principal stockholders: Bar
ron estate, Thos. Bell, Nicholas Laing,
Moses Ellis, Captain j. b. Thomas, Asa
r. ltamLon, George Howard, VIM. Nor
ris, John Q. EARL, John PARROT and D.
]. Tallant.
THE FEELING INNEw YORK on SATURDAY.
New YoRK, August 2S.-The latest
dispatch, in which we place implicit con.
lidence, Is to Leading banking houses here
from their correspondents there. II was
dated at o'clock, yesterday, and received
this morning.
The panic Is over. Confidence RETURN
ing. Coin scarce, but transfers from New
York will probably be returned. The
transfers referred 10 are those made yes
tcriay, through the Sub. Treasurer's bank
erS, by putting gold into the Sub-Treasury
here and, on Geographic notification, tax.
ing II out Of the San Francisco sub
Treasury.
The impression prevails that the San
Francisco Stock Exchange will be opened
| Monday. We also hear that there has
been no run on the banks In the interior.
The estimates OF the liabilities and assets
ofthe Bank Of California which have been
sent on here. are that the former amount
to about $l4,000000 and the latter to
$5,0OO,OO0 to $6,000000. Whether the
stockholders Of the bank are liable beyond
the amount Of their stock for the debts Of
the bank, we have been unable TO ascer-
tain. Beyond a doubt II makes an i'm.
portanL difference to the depoSitors and
creditors Of the bank, as, II they are liable,
the creditors will get dollar for dollar,
one Of the stockholders Of the bank alone