The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1893-06-23
Everything Is Quiet at Los
Angeles.
SEVERAL SMALL FAILURES.
Confidence Will Soon Be Fully Re-
stored in the Southern Part
of the State.
Special to TIE MORNING CALL

! tHlnS is quiet anu peace1ui to-day. Inere
is but slight run at the Los Angeles Ma
tiona Bank, but the line of depositors is
greater than that of withdrawers. 1t is
quiet at other banks. Confidence has been
again restored and good many people
who put their withdrawn funds in the cold
storage of safety vaults have taken them
out and redeposited them. All the banks
have received large sums of money. and
even the six closed banks have received
some.
President Elliott OF the First National
Bank has made a statement in which he
said that the bank would again resume
business as soon rs the Bank Examiner
arrived aud gave his sanction.
1t is expected that all the banks will re-
sumo business eventually except the City
Bank, which is now in the hands of re-
ceiver. Yesterday was day of craze and
to-day the people have returned to their
sober senses.
At the opening of the Los Angeles Ma
tional Bank, Major Bonebrake came out
and was greeted with a loud cheer. He
wore broad and confident smile, which
was in marked and refreshing contrast
with his anxious look of yesterday morn
ing when the full time of the run was on.
He spoke briefly to tue crowd, saying in
effect: Gentlemen and ladies-The Los
Angeles National Bank is still on top and
is going to stay on top. 1t will be closed
only on Sundays and holidays"
Aftor his speech, the major was kept
busy shaking hands with bis many friends
who warmly congratulated him upon his
wonderfully pluckY fight and cool, even
temper in passing through the trying
ordeal.
Depostors were admitted under the
same rules as prevailed Yesterday, but it
was noticed that others came in alongside
of them with goodly amounts of money to
deposit.
Major Bonebrake said: To-day will
end the run and we will pull through all
right. Ample supplies of coin have been
arriving from the north, and we will get
$4,000 to-day that l am sure we viii not
need; but tha run on us was very heavy,
and all told will amount to over $500, 900.
l think that the entire run in the city has
withdrawn about S1,250,000 from the
banks. and most of it has been placed in
safe-deposit boxes"
| The storm is now over and the financial
horizon is clear. The run on the banks
has entirely ceased. and in more than one
of them to-day deposits exceeded with
drawals considerably. An amount OF
money withdrawn from the banks is being
put into real estate, and a brisk demand
for proDerty is anticipated as a result of
! the scare. At many stores notices are dis
played offering TO accept checks on any OF
the banks in payment for goods, and the
newspapers contain a long array of adyer-
tisements Offering real estate on the same
terms.
! small depositors. Many of them from the
; country banks are here opening accounts
much more readily than is the custom in
most cities. The only noteworthy excep-
ton 10 this was at the First National,
where two women depOsitors drew out an
; aggregate of $780, 900. The question of re-
opening the First and Southern California
National banks depends upon the decision
I OF the National Bank Examiner, who is
] expected daily.
The humorous incident of the week is
the fact that Judge Widney of the Uni
versity Bank, which was one of the first
to close, is great advocate of n new sys-
TEN OF finance, and when his bank closed
he had gone to Chicago TO lecture before
the National Bankers convention on an
improved system of banking
SAN DIEGO. June 22.-Another big
crowd was before the Bank of Commerce
doors this morning. but at 10 o'clock. in
stead of reopening. notice was hung out
saying that after paying out S50,000 yes
terday TO satisfy depositors. ard believing
till this morning they could continue bust
ness, the directors regret that expected as
sistance cannot be had, and that money
on the way is not available to-day; there
fore they are forced to temporarily suspend
The assets exceed The liabilities by
$50, 900, exclusive of real estate. and all
will be paid in full. The officers of the
bank are now in conference and give out
that the assets are ample to secure all
depositors and stockholders hope to reopen
in five or less days. or as soon as additional
funds. and the State Bank Examiner can
arrive and report.
The San Diego Savings Bank is still
open, but claims the right to defer pay
ment for ten, thirty and sixty days under
the law. 1t will resume regular business
after the furry is over.
The Comptroller of the Currency ap-
pointed F. n. Pauly. now here conducting
the business of the old California Ma
tional's affairs, to be National Bank Ex-
amner for this city.
Pauly. therefore, took charge of the
First National and Consolidated National,
and as soon as the examination can be
completed the banks will reopen.
News from Escondido is that its bank is
closed. At National City run is in
progress on the Peoples Bank
POMONA, June 22.-The Peoples Bank
did not open this morning. This notice
was on the door: lowing to existing finan-
cha! stringency the board of directors of
this bank has decided to temporarily close
its DOORS" A statement for the press was
promised later to-day. There is very 1T
tie excitement. The belief is general that
the bank is perfectly solvent. At the
First National and the National Bank
there are no runs and the officers report
the transactions such rs usually occur.
Cashier Doe of the Peoples Bank says
nothing definite can be done till the arrival
of the Bank Commissioner. He says the
suspension is temporary and that they in
tend to do banking business in Pomona,
where their home is. To-day's business
shows no run. but just current trans
actions, with larger than average deposits.
Leading business houses exhibit placards
in their windows saying they will take
checks on any bank in Pomona The
people are perfectly quiet.
| ONTAprO Jnua oo-Tha Citi,o,ey D.nh