The herald., 1893-07-05
THE BANKS WILL OPEN.
q MIsLEADING TIMES srATaMENr r
FULLY O0NTRADloTED.
Comptroller Of the Currency Echiea Has
Not Mxpressed an UnfavDrabls
Opinion--So *. celvsr for
the First National.

on very important piece Of neS4 W
the Times, the only troubls abpnt I'll
news" being that it was not true. lno
latter journal printed local Article
headed to the effect that COMPTROLLER o.
the Currency Eckeis had written iot-
ter to some person unnamed in this city,
which letter was received on MONDAY,
stating that hs would deny permiasicn
to the suspended national banke to re-
open, unless a sufficient number OF de-
posters indicated a willingness tor the
institutions to resume.
The article produced decided seusa
tion, and II yesterday had been Dust
ness day, another wild panic might
have resulted from its alarming tone,
but fortunately for all parties 1T appears
that, according to the statements OF the
officers Of the banks, and other gentle
men referred to, there is not u single
word OF truth to 1t.
THE SOUTHERN CALIFORNIA BANK.
The article commences with the fol-
lowing statement:
"A letter was received yesterday from
Hon. J.El. Eckles, comptroller OF this
currene$, in which that official declines
to Authorized the reopening Of the
souti( FERN California bank, unless suffi-
Cient number OF customers and deposit
tors indicate their Willingness to have
the bank continue business.
'Immediately on receipt OF this letter
the following petition was prepared and
circulated among those who are on the
banks ledger as customers, and was
very generally signed:
"Los ANGELES, July 8, 1898.
ITO the Hon. j. III. Eckles, Controller
Of the Currency, Washington. D. o.
Sir: We, the undersigned, being custo-
California bank OF Los Angeles, having
perfect confidence in said bank and it's
management, and being perfectly eatiB-
fed it's temporary suspension was not
on account Of acknowledgement, and our
confidence not having been shaken by
its temporary suspension, we hereby ex-
press our willingness to continue busi-
meas with said bank, and hereby respect
fully request that you grant permission
for it's speedy reopening.
"When completed, the petition will
be transmitted by telegraph to the
comptroller OF the currency by Senator
White, with q statement as to the
names attached to the document.
"With reference to this new turn OF ai-
fairs, 1t has been explained that this is
but part of the red tape now in vogue
In the comptroller's Office. Mr.. Ecklee
has been known to express himself as
opposed to the reopening OF suspended
national banks, unless upon the strong
est showing, and the urgent demand Of
depositOrs. In regard to the Southern
California National bank, it is now
stronger than ever, and has been ready
and anxious to reopen for several
days, only awaiting the permission OF
the comptroller. In putting itself in
its present strong position to resume
payment the bank makes the proud
boast that 1t has not called upon a sim
gle patron to pay his account, unless
overdue"
A HERALD reporter at once, on read
ing the above, called ON Mr.. Bosbyshell,
OF the bank, and asked him about the
matter.
"You may say" he answered, "that
we have not even had hint from Mr..
Eckles or my other official that we will
not be f>ermitted to resume. In TACT
there 10 every reason to believe that we
will be allowed to open our doors at an
early date.
The comptroller has not denied per-
mission to resume, nor lie such q thing
possible, az he could not have received
Examiner Nightmare report until yes
terday, and, furthermore, he has not
been asked to let US reopen. We make
NO request of the comptroller. The
whole matter is treated through the ex-
aminer's report, and only that way.
The latter part OF the articles reference
TO us 10 correct, we are all ready toopen,
and have more than enough cash on
hand to meet any possible demand.
"The assertion that we we're COM
pelled to get the depositors to sign the
petition to the comptroller referred to is
also without foundation. It was our
own idea and WAS not ordered from
Washington. Id
II have no right to speak for Exam
liner Wightman and his report, but I
feel justified in saying that it will be
strongly in favor Of our immediate re-
opening, as there is no reason in the
world why it should not be-"
TEE FIRST NATIONAL.
! The Times article then goes on to
say:
''It was ascertained yesterday that
for several days there has been move
ment on foot looking to the appoint
ment of receiver for the First National
bank, and that John +. Platter of the
Bank of America was being urged for
the place; in fact, that strong letters
had been sent to the comptroller of the
currency, recommending his appoint
ment to the position in case such step
became necessary. The bank has ap-
piled for permission to reopen, which
has been refused, except under the came
conditions as those imposed on the
Southern California"
Mr.. Platter, when seen yesterday by
HERALD reporter, said: mo member
ship has been offered to me, and think
I would know Of it if auch thing were