The herald., 1893-06-24

term" depositors were required to give
six months notice, the usual agreement
with term depositors.
"We could require ten days. notice
from ordinary depositors who want
$1,000" said President Miller, "but we
have plenty of money, and we want to
be liberal"
There were few term depositors who
gave notice, and few of the ordinary de-
positore who drew out had over $500 on
deposit. The large depositors profess
absolute confidence in the banks.
CLOSING OF THE PEOPLES HOME.
The Peoples Home Savings bank
failed to open its doors this morning. 1t
was affiliated with the Pacific bank,
which closed yesterday. Its resources
are said to far exceed it's liabilities.
On the door was the following notice:
"Bank closed temporarily in order to
protect depositors and give time to col
lect on securities. We have sufficient
assets; more than our liabilities
Columbus Waterhouse last night deed
ed all his property to the Peoples Home
Savings bank, that it might raise money
on it to tide the bank over the crisis.
This property is in excess OF all liabili-
ties of the bank.
Failure to realize on securities is the
immediate cause OF the temporary sus-
pension. The directors of the bank have
ordered the regular dividend to be paid
July 18th. The stock dividend will be
withheld.
THE BANK's STATEMENT.
A statement made by the Peoples
Home Savings bank is as follows:
Resources - Real estate, s37, ,645. .03 ;
invested in stocks, bonds and warrants.
$402 sos; loans on real estate, $S39, 1885,
Sd loans on bonds, stocks and war;
rants, $415, 1896 so: loans on other secur-
tiles, $40. .475; loans on personal securi-
ties, $197, ,100.4S; money on hand.
checks and other cash items, $130 800 80 |;
due from banks and bankers, 1865, ,509.-
81; other assets, $44 ,S65. .S3.
Liabilitie-Capital paid up, $33. .333 33 !;
reserve and profit and loss, $40 ,099 .04
due depositors. S2,065, 1854; other liza
bilities, $10,9l7 Total of assets and
liabilities, each, 81, 2,457, ,765.2l.
SOLID CONDITION OF THE BANKS.
The financial condition OF the San
Francisco savings banks can be readily
imagined when it is known that capital
lists in town have been the principal de-
positors for months past, for the sake OF
the interest which they cannot obtain
from commercial institutions. OF course
these banks will have to protect their
depositors in case OF any unusual de-
mand for coin by enforcing the 30-day
rule, il necessary. The draft of money
from any of the savings banks this
morning was very light, and it is safe to
say that If an average were struck, the
deposits would be IN excess.
FEW ANXIOUS FACES.
OF course a few anxious faces were
seen in the small-sized crowd which
gathered out OF the usual spirit OF curl
osity to gaze at the windows and read
the notices on the doors OF the sus.
! pended Pacific and Peoples Home Saw
ing5 banks. In some of the other banke
few people were ranged up in line,
waiting TO draw their money, but not as
rule any more than ia usual about this
time of the year, when dividends be-
come payable.
sHoRT-LIvED RUN.
The Savings union, one of the wealth.
ieet and largest Of it's kind, paid out con.
siderable money for an hour or so after
opening, but did not enforce the regu-
| lar 30-day notice. Assembled at
| the door were some of the
smartest speculators in town on
| the lookout for likely victims. Any one
| who showed mild and unsophisticatsC
appearance was approached with an Of
| fer to take their book for any amount
cash down, for discount of per cent
This was enough for some people, who
did not even enter the door, after recog
nizing from the offer the confidence fel
in the solidity of the banks. Putting