The record-union., 1893-06-24
sneclal to the REcoRp-uN1oN.

pie I1OILl6 EodNlDRS bduh Was CAOSeo
this forenoon. A large number of de-
positors gathered at the bank early to
draw their deposits. They found the fol-
lowing notice pasted on the doors and
windows:
In order to protect depositors and col
lect on securities, this bank is closed tenn
porarily. We have sufficient assets to
more than cover all liabilities.
PEOPLES HOME SAVINGS BANK.
San Francisco, Cal, June 23, 1893.
The suspension of the Peoples Home
Savings Bank was known throughout
the business portion of the city before
noon. 1t was generally thought that the
suspension was due to the connection of
the bank with the Pacific Bank. Column
bus Waterhouse is President of the Peo-
PIES Home Savings Bank and ]. Z. Far
mum is Secretary.
Columbus Waterhouse last night decided
all of his property to the Peoples Home
Savings Bank, that the bank might raise
money on it to tide over the crisis. This
property is far in excess of all the lia-
bilities of the bank.
The failure to realize on securities inn
mediately was the cause of the temporary
suspension.
The Directors of the bank have or
dered regular dividend to be paid on
July 1st. The stock dividend will be
withheld.
The semi-annual statement of the finan-
cial condition of the savings banks OF
California, on the 1st day of January,
1898, as reported to the Bank Commits
sioners, supplies the following figures
relating to the Peoples Home Savings
Bank.
Resources-Real estate, S37, ,645 03; in
vested in stocks, bonds and warrants,
SOB, SOB; loans on real estate, 1899, 1853 "a;
loans on bonds. stocks and warrants,
Sil5,S 500 80; loans on other securities, S20,-
475; loans on personal security, Sl97,-
zoo is; money on hand, checks and other
cash items, Sl3O, 300 80; due from banks
and bankers, $36S, 500 OF; other assets,
$44,S65 So.
Liabilities-Capital paid up, S33, 1888 33;
reserve and profit and loss, $40, ,G99 on;
due depositors, 81, 065. l35 81; other liabili-
ties, SlO,917.
The total Of assets and liabilities was
81, 457. .765 d.
L
Home Savings Bank to open its doors to-
day caused some excitement among de-
pcsitors in a few other banks.
There were a few Withdrawals of de-
posits at the German Savings and Loan
and at the Hibernia, but there was hardly
more than the usual number of customers
at the counters of these well-known con-
servative institutions. Equally conserva-
tive was the San Francisco Savings
Union
The feeling is that all of tine commercial
banks are on a secure footing. The Presi-
dents ofmany ofthem express themselves
as glad that the crisis has arrived, so that
they may show their strength
The draft of money from many Of the
savings banks was very light, and it is
safe to say that if an average were struck
the deposits would be in excess.
OF course few anxious faces were seen
in the small sized crowd which gathered
out OF the usual spirit of curiosity to gape
at the windows and read the notices on
the doors of the suspended Pacific and
Peoples Home Savings Banks.
In some of the other banks few people
were ranged UP in line waiting to draw
their money, but not, as rule, any more
than is usual about this time of year
when dividends become payable. The
Savings Union paid out considerable
money for an hour or so after opening
but did not enforce the regular thirty
days notice. Assembled at the door were
some of the smartest spectators in town
on the lookout for likely victims. Any
one who showed a mild and unsophisti.
Gated appearance was approached with
an offer to take their books, any amount
cash down for a discount of per cent.
This was enough for some people, who
did not even enter the doors after recog.
nizing from the offer the confidence fell
in the solidity of the bank. Putting theil
books in their pockets they skunk of
home.
One of the most prominent financier!
in the city to-day stated that San Fran.
cisco is in luck. The monetary furry
which has been sweeping over the coun.
try was bound to strike here, and we are
very fortunate that it struck us just now
when its force is practically about over
We are also particularly lucky as to time
from the fact that in just week there
will be paid out a very large amount o
interest on all kinds of Government
State, city, railroad and corporate bonds
savings bank interest and interest on Sc
curities of other kinds. July Ist is tn,
great settlement day, when everybod,
who has income property will be il
funds. There will be plenty of money il
aIl the money centers of the country in
few days. so there is no possibility tha
the stringency which now exists in som
quarters can last. The furry had nearl,
exhausted itself when it struck this coast
and it could not have reached San Fran
cisco in better time. Its life here will b.
of very few hours duration. In fact, tn
best judges consider it now past.
THE PACIFIC BANK.
SAN Francisco, June pa statemen
was made by r. II. Mcdonald, Jr., Vice
President of the Pacific Bank, concerning
the condition of the institution, as fol
lows:
"Tho capital of the bank is Sl,000,O0
surplus. $500, 900; undivided profits, $50,
p00. Our individual deposits are 500, 200
due Eastern banks, 100000; country
hanks. $4,000; certificates of deposit
500 900; time certificates Of deposit, $3.50,
Oo0; total, about 81, 800. 600. Against thi
we have 100000 bills receivable
&. .OOO. 600 in bonds; real estate, ETC., $500,
200: so that if the capital and surplu
were swept aside we would still hav
enough to take care of our depositors.
"By reason of the disturbed condition
of finances in tine commercial world an
the contracted supply of money availabl