The morning call., 1893-06-27
ABOUT THE BANKS
The Financial Situation
Still Improving.
How President Isaias w. HeIiman
Squelched the Los Angeles Panic.
The Pacific Bank Affairs.

The financial situation In this city
remains unchanged. Yesterday was a
dull day in all of the banks. COM
mercial and savings. About the ordinary
Monday transactions took place. The
savings banks had resumed their normal
business. The number of people who
we're depositing money was in excess of
those who were taking ont funds. At the
United States Sub Treasury it was learned
that the demand for money on the part of
the banks had ceased, the last largest
transfer from Sthe East amounting to
s350.000 having taken place on Saturday.
Isaias w. Hellman, president of the
Nevada Bank. returned from Los Angeles
on Sunday. He was seen in his office yes
terday and was found in a very cheerful
mood. Mr.. Hellman. who is the leading
spirit in the Farmers and Merchants Bank
of Los Angeles. FASTENED to the southern
metropolis at the first sign of trouble
there.
His appearance in his old town at the
height OF the panic last week had an al
most magical effect on the people. They
had lost their heads and were raiding
every bank in Los Angeles when he ar
rived. All the big institutions. except the
Farmers and Merchants Bank, had closed
their doors "Hellman is In town! He'll
man is in town. was shouted through the
streets fifteen minutes after the train had
arrived from San Francisco. The cry was
as cheering to the mob of frantic people
who swarmed in the business quarters of
Los Angeles as was the cry of The Seal
The Seap' to the column under Xenophon
at the conclusion of their immortal retreat.
Mr. Helman carried down with him $780,
600, and as it WAS dumped into his Los
Angeles bank the sight of the coin worked
like a charm.
MIR. Hellman said: Everything is all
right down south. Business there is all
that could be wished. Nothing could have
heen more senseless than the panic. No
city in the United States is in better con-
ditiOn than Los Angeles. l received dis
| patch to-day from my brother, who is in
charge OF the bank there, stating that all
cause for anxiety had disappeared, and
that more money was flowing into the Los
Angeles banks than was going out.
| have given in structions that aid should be
| rendered when needed TO all the country
banks in Southern California having ex-
change relations with the Farmers and
Merchants Bank"
The directors of the Peoples Home
Savings Bank held meeting yesterday
! afternoon. but reached no conclusion as to
! the day on which the bank should open its
| doors. Business will be resumed in the
] Institution, it was announced, as soon as
| luHuo CAL ue SeCuIeu ny lHo SAFE OIL Gel
! tain securities now held by the bank.
There was no change to report at the
Pacific Bank Sheriff McDade was pre-
sumably in charge, and devoted the entire
day to indorsing checks against other
! banks held by the Pacific Bank and which
will 60 through the Clearinghouse to-day.
Mean while Commissioner Knight was ex-
aiming the assets of the bank-a job
which he does not expect to get thr ough
with before Thursday or Friday. There
were no additions to the legal complica-
tons arising out OF the controversy be-
tween Sheriff McDade and the Bank Com.
missioners. On Friday the injunction suit
to restrain the Sheriff from interfering
with the commissioners, filed by Attorney
General Hart, will be heard by Judge
| Daingerfield. Acknowledgement Hart left
! for Los Angeles on Saturday.
All depositors in the Pacific Bank have
! been requested to Immediately present
| their deposit-books to the bank. 50 that
! thew NAV be verified and balanced at nm ce