, 1891-11-17

The San Francisco Call which reached
here Yesterday morning contains the fol
lowing account OF the California National
bank failure:
SAN DIEGO, Nov. l2.-The California
National bank did not open its doors for
business this morning. A card displayed
in the window explained the reason as
follows: Owing to continued shrinkage
in deposits and u inability to promptly
realize on notes and accounts the bank is
temporarily closed.
The bank commissioner has now been
sent for and will take charge on his ar
rival. Meantime no business can be
transacted. 1t is believed beyond ques-
ton depositors will be paid in full. The
bank has advertised paid up capital of
$500. 600 and a surplus of 800, 900. j.
w. Collins is president. ID. L. Dare vice
president and s. q. Hanenmale second
vice president.
The announcement OF the suspension
created quite a profound sensation
throughout the city, but there is a general
feeling Of sympathy and belief that the
bank will pay dollar for dollar. j. W.
Collins, president, refuses to talk and
says everything awaits an investigation
and the report of the bank examiner.
Late tonight it was learned as to the
cause of suspension that last Tuesday a
certificate oil deposit for $4,000 was pre-
scented to the bank and payment refused.
Notices of protests we're prepared to be
sent the mdorsers, but were held over to
Wednesday in hopes that the bank could
meet the Tote. Intimatlon was quietly
given by some one to the city and county
%treasurers. who lave respectively $45.5OO
and sos, 900 on deposit. Rumor says
that they talked of Withdrawing, but
were induced to leave them. 1t Is said
that stringency on account OF
the withdrawal of deposits was the
chief reason of the trouble, much
having been withdrawn for the pur-
chase Of land throughout the country,
especially in irrigation districts, and much
having gone north for wheat. Kindly
feeling is being expressed by the officials
of other banks. Bryant Howard of the
Consolidated bank SAYS the September
statement shows the California National
to have had 81, 900, 900 in excess of as.
sets, while the liabilities to depositors and
bills are but slightly over 5000, 900. He
cannot see how the depositors can be losers
il the banks condition is the same today.
There is no danger of a panic. The
other banks had demands but slightly in
excess of the usual business, and there Is
a general feeling of confidence in the
of the closed bank. The ex
aminer is due on Friday.
Los ANGELES, Nov. l2.-The San
Diego bank suspension created nc excite
mept here. The Clearinghouse a~ssocia-
ton has resolved to stand BY the San
Diego banks in case assistance Is needed.
The Associated Press account Is as fol-
lows:
SAN DIEGO, Cal, Nov. l4.-Bank Ex-
aminer W. Chamberlain arrived last even
ing and began his investigation into the
affairs of the suspended California Ma
tional bank. Geo. V. Sims of the Lom-
bard Trust company of London, who
came to this city to look about for invest
ments for his company. also examined
the bank and stated that if the bank ex-
aminers would give him authority to do
SO he would bring out money enough
from New York and London to re-estab-
lish the bank on a sounder basis than ever.