Eureka daily sentinel. [volume] (Eureka, Nev.) 1871-1887, 1877-10-09
PACIFIC COAST.
Bank Failure.
RUMORS AS TO THE CAUSE.
Killed by q Mule, and o Body
Fished from the Bay.

THIS morning tnat TIE neaNy payments
required to-day. and the Withholding
of the aid depended upon, forces the
bank into liquidation. The assets,
consisting Of real estate, at cost price,
is 81 .254 900; liabilities, Sl,2l3,OOO. The
Manager states that everything pos
sible has been done to sustain the
bank, incl uding the sacrifice of his
own means to the last dollar. He rec
ommends the appoin tment OF a re-
ceivsr, and restraining by law all
holders of securities from sacrificing
the same. The failure will not have
the slightest effect upon other savings
or commercial banks of the city.
None OF them are involved, and the
fear that possibly the announcement of
the failure might induce a run on
other banks is entirely dispelled. no
such inclination being visible on the
part of depositors. In the absence Of
further Information from the officers
OF the suspended bank, IL Is difficult at
present to state anything positively as
to- the prospects of the dspositors get
ting their money back, but the general
impression among financial men
seems to be that the failure Is a disas
trous one. The brief statement thus
far vouchsafed in the morning jour
nails as Il the assets and liabilities,
leave readers somewhat in the dark as
to the actual state Of affairs. The prin-
cipal item in the assets IL stock in the
Safe Deposit building. OF which l3, 100
shares are entered in the schedule at a
cost price of 500 per share, while the
stock il now worth in The market
about $40 per share. The published
statement is also very vague as to the
causes of the suspension, being iiD ply
To- the effect that or Saturday notices
we're given of large amountst that would
he required to day, and that the bank
had been obliged TO meet heavy
payments falling due by borrowing on
its securities At high rates Of interest
at o%ne-fourth of their value. 1t il
rumored on the streets day that the
immediate cause OF the disaster il to be
attributed to the fact that the bank has
been standing behind w. +. Duncan,
of the Pacific Stock Exchange, son of
the Manager of the hank, in shorting
large lines of bonanza stocks, the rise
in which precipItated the crisis. This,
however, may be a mere street warn
and of doubtful authenticity. During
the morning knots of depositors have
been hanging around The bank. the
doors of which are closed and no one
is visible inside-notice of suspension
being posted IN the doors.
James Green, employed at Hancock
K kelso's stables, on b corner of Six
teenth and Harrison streets, WAS killed
by II of his mules yesterday. He
was thrown down and the animal is
supposed to have trampled on his
neck. Deceased was a native of Penn.
s%ylvanis, and aged 40 years.
The body of Captain Carpenter, Of
the British ship Rivernish, was recov
cred yesterday afternoon, at the DOT of
Folsom street wharf. Deceased had
been missing since last Monday night,
when he attempted TO 20 aboard his
vessel, but is supposed to have acci-
dentally fallen from the gang plank.
His gold watch and chain and some
papers were found upon him.
There will bs a meeting Of the credit
ors OF the Pioneer Bank this afternoon.
In the Pacific Exchange, to-day.
the failure of w. +. Duncan was AN
nounced. An executive meeting. TO
consider the matter, was held immedi
ately after the morning call. The pro-
ceedings were private. Report has IL
that Duncan is about $40 900 short.
A meeting Of the creditors of the Pho
neer Savings Bank this afternoon was
held at Mercantile Library Hall; the
hall was we'll filled with creditors,
among whom we're many women; in
all, there were about 400 gathered
together; Eek Supervisor Lynch pre-
siding. The gentleman who repre-
scented Mr.. duncan and the Duncan
family, said the officers of the tank
would be- pleased to have n committee
appointed by the creditors to examine
the affairs and books Of the bank.
They think that efforts should be made
to prevent the Safe Deposit stock.
which has been put out as collateral at
very low figures, from being sacrificed
to the capitalists who now hold it. The
officers will get the books ready as
o o as possible, perhaps to night. and
wish the committee to report to an al
journed meeting of the creditors. 1t
was then voted by the Chair tn APP
point a committee of five. Mr.. Lynch
then appointed the following gertle
men ID. X. Wilson, Charles A. Sum.
ner, Joseph Gates, l.. Altschul and
David Clark. Mr.. Lynch was also
placed upon the committee. 1t was
then moved that the committee TAX
charge Of the KEYS Of the bank, and
take possession Of the office. A repre-
VI WI bWio FtotVth
that this action on the part of the COM
mittee would conform to the wishes OF
the bank officers. Adjourned.
John FITZGERALD, laborer. was killed
on the Cliff House road this morning,
at a point nearly opposite the Odd Eel
lows Cemetery.
Mexican Ousrages In New Mckee.
SAN DIEGO, Oct. 8
The Cnt0n has the following dis
patch dated Missilla, New Mexico,
Oct. 9: An armed mob OF 400 Next
cans, 100 from the Mexican side Of the
river, have possession ofthe county OF
FL Paso. in Texas, 30 miles below this
place. The mob threaten to massacre
all Americans. They have arrested
and imprisoned the county officers.
Several prominent citizens have fled
from the county. A small detach
meut of the Ninth United States Cav
airy started for the scene of the
trouble to-day to protect the United
States Custom House and Govern
ment property. The Mexicans claim
that Eel PasO cOuntv b~elOnus tn MaytcO