The herald., 1893-06-24
EVERYTHING IS LOVELY NOW.
The Banks and the People are
All Serene.
National Bank Examiner Wightman
Arrives and Is at Work.
he Says That Both of the closed Ma
tionai Banks Arc Solvent and win
Soon Reopen-The Situation
Yesterday.

their eyes toward the celebration of the
glorious Fourth, which takes place next
week in this, our City of the Angeles.
The people OF Los Angeles have devoted
the greater part of this week TO an in
diligence in q species of madness which
has assumed tragical proportions III
several instances, and which, during its
continuance, raised "pretty how-d'ye-
do" placing the digniied and austere
property owner on levels with the
smooth-faced, hair-brained ''jene sails
quoi'' young man at his side, in general
howl and scramble for coin. But it
is all past; it is history now; the Rubi-
con has been crossed and as the loot
hills Of the Cis.alpine mountains of con-
tent are sscended, it ia now possible to
glance back into the valley OF tribulation,
danger and disaster from which 60 aus
piciouH an escape has been made, and
the Angelefios are now congratulating
themselves and busily engaged in re-
pairing the damage done.
w. B. Wightman, national bank
examiner for the states of California and
Nevada, rolled into the city early yester-
day morning. His appearance has been
anxiously looked for during the past two
days and his failure to materiaize is
explained by the fact that he was absent
from San Francisco, when the telegram
from the comptroller of the currency
arrived, ordering him to Los Angeles.
When he did receive it, however, he lost
no time in reaching this city and his
merry face and jovial ways brought with
them feelings of satisfaction and pleasure
to those who were anxiously waiting his
arrival.
Mr.. Wightman first OF ell dropped
into the Los Angeles National, and with
warm handshake, heartily congratu-
lated Major Bonebrake on his plucky
and stubborn resistance. He emphat-
ically stated that the majors cautious
tactics and wise management had Haved
the city and stopped panic the extent
of which could only be guessed at, not
outlined. From the Los Angeles bank
Mr.. Wightman Immediately went to the
First National and commenced an ex-
animation of its books. Shortly after
ward, however, he received telegram
from the comptroller at Washington,
ordering him to examine the condition
If the Southern California bank first, as
they had first wired for his assistance.
Consequently this afternoon Mr.. Wight
man transferred his quarters to the
latter bank, and is now busily engaged
IN getting it's affairs into shape.
Yesterday afternoon Mr.. Wightman
told HERALD reporter that he had no
hesitancv in saying that the two banks
we're in thoroughly sound condition.
II only examined the affairs of both,"
said be, "about month ago, and |
know how they stood then. twill take
me very short time to run through
their accounts again. | shall then at
once make out my report and send 1t to
Washington. I have every confidence
that both banks will be open and doing
business very shortly. and the depositors
need not worry over their coin, they will
get it dollar for dollar and it is merely
question of O little patience on their
part. 4
No, can not make public my report
before it reaches the hands of the au.
lhorities in Washington. l am bound
by oath to secrecy in such matters, but
will reiterste what l said before, that
the banks are in very good condition
and will be open and doing business
very shortly.
''All the banks in the city are solvent
and there is no cause which should
bring about such o rush on the part of
sfeeling of insecurity which is eyerv-
where prevalent and which, unfortu-
nately, is liable to break out at any mo-
ment. 1t really seems as If one panic
after another is splaying game OF tag
around the world, starting from Aus
tralia, but there is no reason whatever
for this outbreak here in Southern Cal
ifornia."
The general appearance of things
around the Los Angeles National bank
today was nearly as quiet as that with
in the closed banks. Major Bonebrske
stated that it was the quietest day they
have had for the last three weeks.
"You may believe / appreciate it, said
he, latter the turmoil, the rush and the
confusion OF the past few days il is very
agreeable"
"We ell feel pretty weary, but we
won, and TO do that know we would
agree to be much more 80. tell you,v
continued the major, ''If man is self
reliont and plucky and stubborn he can
succeed in weathering a financial gale
like the one we've just been through.
II he makes up his mind to do it, he'll
do it.
eve received large consignment OF
coin during the run, but ID all came from
any outside assistance whatever. Itwas
hard fight and long one; but" and
the major smiled, 1--WE won.
"We have more than 100000 reserve
fund ON hand now and will receive
$4,000 more before the sun goes down.
Our deposits are Nwsy ahead even OF
those OF yesterday. | am glad that our
customers have again renewed conf
dence in us, and | am also glad that we
forced them to acknowledge that conf
dence by our payment of their demands
on us."
The condition of affairs ct the Fret
National bank yesterday showed little
change. A number OF clerks were husily
getting matters in shape for the exam
iner, but shortly after he made his APP
pearance, telegram from Washington
ordered him to commence his examina-
ton first at the Southern California. Pres
ident Elliott stated that there was moth
ing new and that matters were in statu
quo. He understood, however, that
some plan was being formulated by
the depositors looking towards assisting
the directors to a very early re-opening,
but that as yet nothing definite had
been decided upon. Coin was being re-
ceived at different intervals through the
day.
As soon as the bank examiner com
pletes his examination of the First Ma
tional bank meeting of the depositors,
stockholders and customers will be held