The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1893-07-09
DEPOSITORS SAFE.
To Be Fully Paid by the
Peoples Home.
Bank Commissioners Still Figuring
on Their Report-What the
Attorney-General Says.

a rigid examination Of the affairs of the
Peoples Home Savings Bank is still in
progress, and the Bank Commissioners
will not be ready to report before Tuesday
or Wednesday.
''We are still 10 the midst of our work. }"
said Commissioner Dunsmoor yesterday.
1--WE are convinced of one thing. however,
and that is that the Peoples Home Bank
is thoroughly solvent. The depositors
will be paid In full. 1t will be two or
three days yet before we have completed
our inspection and figuring and will have
report ready"
Acknowledgement Bart, in reply to ques-
tions in regard to the Pacific and People
Home Savings banks, made the following
statement
"The Bank Commissioners delivered
their report to me on Friday afternoon, as
has heretofore been mentioned in The
CALL. l have not yet taken the matter up
for several reasons. The Bank Commits
sioners report that the book assets of the
bank amount to S3.744.0S4 IS. that the
actual good assets are S2,095, 1T II, leaving
as doubtful or bad assets ST, GAS, 907 5S. 1t
is claimed by the directors of the bank that
large percentage of the assets determi n Ell
doubtful and bad by the Bank Commits
sioners are good, and / understand they
desire to make showing Of that fact to
me. which they have right to do, II they
can, before | render my decision. This
question. therefore. becomes an important
one, if he bank is to resume. for the esti-
mated good assets as stated-S2. 095, 1T IL
are sufficient to pay the liabilities # Sl.86S.
041 As. giving an excess OF good assets Of
S227, 135 72.
THUS 1t is seen there is enough!to pay off
the liabilities. other than stock holders, and
leave S227. l35 To- Now it can be readily
seen that if from the doubtful assets there
can be realized 80 per cent 1t would prac-
tically leave the capital OF the bank intact
But, as | said, this is matter l cannot
decide at this time and Will not consider
for several days to come.
For some time previous to the suspen-
sion of the Pacific Bank it was the treas
urer of the Peoples Home Savings Bank,
and | shall not take up the Pacific Bank
report for consideration until after l have
received the Bank COMMISSIONER report
on the Peoples Home Savings Bank.
which may not get until some time next
week. As l consider 1t necessary TO ex-
anime the report OF the Bank Commits.
sioners on the Peoples Home Savings
Bank and the Riverside Bank in
connection with the Pacific Bank. as these
three banks did business with each other
for quite large amount before tie suS-
pension. l cannot tell when | shall reach a
decision in the matter l shall give each
careful con sideratiOn and try to be just 10
| all. presume, however. that shall first
decide as to the Peoples Home Savings
Bank, as it seems to BIZ in better condition
than either of the other two so far as il
has been examined"
"The Bank Commissioners" said Man.
| ager Farnum of the Peoples Home, "have
E,,ia hn6 hair mi, tio,, fnn Nf
the bank and have found our institution
solvent. They will make their report next
week. 1t is the intention Of those inter-
ested to reOrganiZe the bank If possible. To
this end an effort will be made to buy out
the interest of the Pac fic Bank. obtain new
stockholders and elect new directors.
| Should we be unable to do this the bank
will go into liquidation"
| When the Pacific Bank closed its doors
| 1t was thought that the California Illus
trated Magazine might be affected, as ii
was known that its fortunes were more or
less intimately connected with the bank.
| Edward 4. Parsons, the business man.
ager, was seen yesterday, and, while ad-
hitting that the magazine had been an
expensive experiment so far, denied that it
was in any way embarrassed, but on the
contrary. he said, it was on the road to i'm.
mediate financial success.
| 1t had been decided, he said, to remove
| the business Office to Chicago. as matter
of expedency, as it was found that the
| bulk of their advertising on which the
magazine depended for support could be
better handled from Chicago.
Mr.. Parsons will leave for Chicago early
this week. The editorial management will
remain in San Francisco, rooms having
been secured in the Columbian building or
Market street.
When the McDonalds took hold of the
| Z. u
tecessary adjunct, and the San Francisco
Printing Company was formed, with james
A. PARSER. fur many years with the Ban.
crofts, as superintendent.
The business has now been divided. anG
the magazine will in the future be printed
in Chicago. 1t is claimed that no change
will be made in the scope or object of the
magazine, and that it will still remain &
publication devoted to California and Pa
| cific Coast interests.