New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1875-08-28
THE DAY In SAN FRANCISCO.


THE NAIIoNAL GOLD BANK AND TRUST COMPANY
AND MERCHANTS BANK sUsPEND-THE OTHER
RANKS HOLD THEIR OwN-THE PALACE HOTEL
NOT NEUTRALITY-SUSPICIOUS. OF sQULEZE NON
DAY.
san FRiNCIsco, Aug. 27.-Last night at midnight
meeting of the officers of the National Gold Bank
and Trust Company issued the following notice to
the public, aud it appeared this morning in the morn
ing papers:
OF obtaining coin. the National Gold Bank aud Trust
Company will close until further notice. The Bank
soon coin be obtained it will resume business
as usual. In the meantime any creditor so desiring
can have good assets Of the Bank to the amount OF
Lis claim. BY order Of the BOard OF Trustees.
HENRY l.. DAVIS, President.
The Merchants Exchange Bank also closed its
doors this morning. The directors issued Tie follow
ing notice:
In consequence of the excitement and disappoint-
ment of getting coin, the directors deem 1t for HE
best interests OF all concerned not to open our doors
for the present The secretary states that the bank
has 100000 N con on hand. ihe Ian, amount t lane
be over 100000 i'll notes. The bank is perfectly
solvent. The only trouble is the lack OF coin.
THE OTHER BANKS Go THROUGH THE DAY
sPLENDIDLY.
There was great excitement on the Street during
the morning, but it appears to be subsdng.
This morning. crowds Of people surrounded the
closed banks anu tlt Ddiho, anu th'io "'%O
something of run on the London and San Francisco
Bank Ii ceased, however, with large surplus re-
naming i'll its vaults. There was also slight run on
The Ango-C alifornia Bank at its opening this morn
ing The First National Gold Bank reports every
thing secure and the same may be said of the Bank
of British Columbia, the Pacific, and Commercial
Banks. Private banks report no excitement and
everything going on as usual Generally speaking,
all of the city banks are considered sound, except
the Bank Of California. President Ralst0n this
morning said nothing in addition to his statements
of yesterday. Many rumors are current regard
ing the condition of the Bank of California.
One statement, apparently from good authority,
ia that the bank will pay depositors in
fuu and stockholders so cents the dollar.
On the other hand prominent stakeholder states
that the most the bank do will be TO satisfy the
demands of depostCrs, and it will scarcely be able
to do that. There has been slight rush
at the Hibernia Bank and Savings Bank
but demands We're promptly met, within the
rules as expressed Ill the bylaws of the
institution. Little uneasiness is felt as to the
affairs Of either of the National Gold Bank and
Trust Company or the Merchants Exchange Bank.
They have an abundance of available assets, and
arc only waiting the reception of cOin Tie Presi-
dent this morning states that they paid out about
million dollars yesterday, and that they have still
small supply lef,. The Merchants Exchange Bank
is believed to he sound and its suspension only tenn
porary The Savings banks transacted a usual bust
ness to-day, deposits in some being larger than dis
bursements. There is no excitement on that line.
EFFECT UPON VARIOUS INTERESTS IN SAN FRANCISCO,
1t is stated on presumably good authority that
some half dozen heavy stock brokers are likely to 20
down. No names arc given. No commercial failures
have yet been reported, though squeeze is respected
next Monday which is collection day.
The City Tax Collector has S275OO0 of protested
tax moneys on deposit in the Bank of California for
which he has certificates of special deposits The
directors assured the Collector this morning that the
money would be paid in day Ga two.
rurnor not yet confirmed SAYS President Ralston
has turned over his private means TO the bank.
Warren Leland announces that the suspension OF
the Bank of California does not in any way affect
the Palace Hotel his interest in which President
Kaston sold some months ago to Senator Sharon.
The great caravansary will open at the appointed
date, Oct. 1.
The Chamber of Commerce held a meeting this
afternoon and decided that it would probably be
more injurious than beneficial to take any action
looking toward pos.ponement Of ordinary accounts
or notes maturing next collection day. The meeting
was very largely attended.