The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1893-06-30
BANKS MUST OPEN
Cannot Close on Monday,
They Say.
STATE LAWS FORBID 1T.
The Day Will Be Practically Holt
day, However, From a COM
mercial Standpoint.
STATE LAWS FORBID IT

By inquiring of several banks yesterday
afternoon, including visit paid to the
clearinghouse. CALL representative
ascertaned that the banks have finally
determined to open on Monday. Manager
Sleeper said that the Clearinghouse would
be open on that day the same as any other
day not legal holiday; and he also gave
the information that the bankers had not
receded from the position taken by them
at their last meeting. about week ago.
Then, when the matter was talked over,
very pronounced objection was raised
against any Monday closing, SO they all
agreed to open.
Perhaps the best reason for the banks
opening is that given by President He'll
man of the Nevada Bank. 1t is that the
money deposited with the bank belongs
to the deposition. and the banks cannot
close on any day not legal holiday be-
cause by so doing they would Interfere
with the depositor's right to obtain posses
sion of his own money. Besides, 10 close
would be contrary to the laws of the State.
President Murphy of the First National
Bank gave as his reason for opening that
his bank is a Government institution and
if it was closed on any day other than
legal holiday be would be called TO ac-
count for it.
At the Anglo California Bank Manager
Steinhart said they would be open. and
similar response was given by MIR. Van
Arsdale at Sissou, Croker g. Co.'s bank
Bank Commissioner Knight was at first
inclined TO the belief that the banks could
close if they wanted to; that they had
done so before about six or seven years
ago. When Informed of the opinions Of
the bankers mentioned, he modified his
idea so far as to defer to the legal reasons
ha nj RI, nf
ment that the banks had kept closed one
or more times in the past when the day
was not a legal holiday, and he thought
that all that would be necessary would be
for the banks TO simply open Their doors
and have a noe teller at his desk TO ac-
comm odate the slight demands of the
public.
At the Office of the Board of Trade 1t
was stated by the assistant secretary that.
notwithstanding the stand taken by the
banks, the number of merchants who
have agreed to close up their places OF
business on Monday is cons family on the
increase. The following new names were
added since Wednesday evening:
L. George Shoe Company.
Geo. c. Shreve q Co.
Baker & Hamilton.
r. S. Van Wrinkle & Co.
Huntington, Hopkins 81 Co.
John SrOule 81 Co.
Washburn & Moen Manufacturing Com
pany.
altogether there are about 200 firms that
have signed the Board of Trades list, and
a large number of merchants will close
even though they have not signed any Pc
titiOn. But the banks they are de-
tarmned as tn their intention to open.
No communication has been sent by the
hoard to Lieutenant Governor Reddick on
the subject. the secretary not considering
that advisa Bile.
Apart from any suggestion to the acting
Governor, though, the board has been
very active, ard the result will probably
be that Monday, to all intents and pur-
poses, vii! be holiday in San E9ancisco,
so far as the great commercial 4fmant is,
concerned. The beard has crdh{atA the,
following placard freely for the shops
windows: H.. - -