The herald., 1893-06-22
THE EPIDEMIC is ALMOST OVER.
a Normal Financial Situation
Probable Today.
The Features of the Excitement of
Yesterday.
The First National, Broadway, East Los
angeles and Southern California
Ranks Temporarily Close.
L. W. Hellinsn Arrives.

Yesterdays sun, as it rose over the
city, glanced down on a population
which was sgitated and excited and pre-
pared to think the worst after theevents
OF Tuesday in financial circles. yet when
Old Sol sank into his western couch be
lett the city overspread with a feeling oi
eecurity which forced itself into the
breasts of the most skeptical.
The tumultuous times OF the preceding
48 hours are over, the eager craze of the
depostor for his coveted coin is gone by,
and the light OF today falls on city
once more returned to the exercise OF its
common sense.
MR.. HELLMAN ARRIVES.
The minds of many timorous people
were set at rest yesterday by the appear
ance behind the counter of the Farmers
and Merchants bank OF the well-known
face OF President I. w. Hellman, who
arrived from San Francisco.
He did not come alone, but brought
$250,00 in gold, which was soon along
side the big coin reserve Of the bank,
and by noon there was fully 100000 in
gold coin on the tables OF the bank, be-
sides correspondingly large sums in
bonds, notes and silver.
1t was also learned that Mr.. Hellman
had s250,000 more in gold, all in sacks,
in his San Francisco bank ready for
shipment at b moments notice. But it
will not be needed. The bank has
plenty OF money, and is getting new
business all the time.
Mr.. Hellman said to a HERALD re-
porter II haven't really much to say.
You might tell the public that l am
here, not that the bank needed my
presence particularly, but thought /
might do something to benefit the city
where have 30 many large interests.
''The Farmers and Merchants bank
has received large shipments OF coin
today in addition TO its large reserve
fund, and it can get as much more as it
needs.
''There has not been a sign of any
thing unusual about the bank today
the deposits have been as large as the
Withdrawals and we are in the very best
condition.
II believe that the other state banks
(which have remained open are perfectly
solvent. Ii people will consider the
future OF Los Angeles they should do all
they can to help reopen the closed banks
and assist in reestablishing confidence.
"The San Francisco banks are all solid,
and there is no cause for any apprehen-
sion OF trouble up there, so 1 shall re-
main here for about week."
Mr.. Hellman looks remarkably well,
and appears to have experienced little
or no anxiety OF late. He took an active
part in the business OF the bank yester-
day, and hiH presence was regarded as
reassuring circumstance.
RECEIVER APPOINTED.
Yesterday morning legal proc eeding
were instituted which resulted during
the morning in the appointment OF q
receiver for the City bank.
The complaint was filed by Mrs. Mar
garet e. Miller. one Of the depositors, by
her attorneys, Messfs. Burnett q Glib
bon. the amount OF her claim being
S3400. II was provided in the COM,
plant that complaints in Intervention
by other depositors might be filed in the
suit.
The case was taken at once before
Judge Shaw, in department five of the
superior court, and the request for re-
ceiver was granted. Mr.. Otto Brodt-
beck, well-known business man, being
agreed upon for the position. He was
appointed by the court, filed his bond OF
100000, which was approved, and he at
once took possession of the bank. His
sureties each qualified and we're accepted
by the court. They are as follows:
Jabez Percivsl, $4,000; I. d. Slim
son, $4,000; Theodore w. Brotherton,
10000; Robert Hale, 100000 Andrew
Mullen, 100000 Thomas Stovell, $10,-
900; j. Otto Hoephi, 10000; A. +.
Pomeroy. $4,000; A. P. West, $4,000.
The receiver did not attempt to make
NJ cd mir - ho a. II
the bank yesterday, but that work will
begin today.
THE LOS ANGELES NATIONAL.
As the hour of 10 o'clock approached
yesterday an excited crowd began to
gather at the corner of First and Spring
streets. in front OF the Los Angeles Ma
tional bank. Many were the comments
made as to whether it's doors would
open, and several bets were quickly
offered and accepted that they would
not. Within few minutes after the
regular time the massive doors swung
open and entrance was afforded to the
many eager seekers after money who
occupied the pavement. A line was
quickly formed and the depositors as
their time came received the amount due
them.
Major Bonebrake appeared on the
steps and with his hsad barred addressed
the crowd below him. He said that for
two days now this run on his bank had
been kept up. "But," said he, II pro-
pose to keep this institution open until
the last depositor desiring his money
presents himself. No one will lose a
dollar which they have placed in the
banks keeping, and 1 will also state
that we have two dollars ready for each
one deposited. | want the depositors to
realize this, and l. want them to stand
by the bank" The speech of President
Bonebrake was greeted with applause
but Notwithstanding the depositors kept
10 line in no way deferred from obtain
ing their money. A short time after
the majors address notice was tackled
upon telegraph pole on the corner
which read as follows =.
Until further notice this bank will
be open for the payment of checks from
10 o. m. till ii q. M, and will receive
deposits If offered from 2 D. m. to 8,
p. m.
I'VE appeal to our depositors that
they aid us ir this unexpected emer-
gency by accepting payment upon the
following plan:
''Depositors having sums less than
5000 to receive one-fourth in cash and a
certificate PAYABLE In go dava for the