The herald., 1893-06-22

the regular closing time. Major Bone
brake stated yesterday afternoon short
time after 8 o'clock that the bank had
paid out close onto 100000 and they
would continue to settle all demands
made upon it. Yesterday large
amount OF money was received and a
still larger one would be received before
banking hours tomorrow, "We have
not asked assistance from anybody. /"
said he. land we don't propose to. All
demands will be paid that are presented
and will be paid by US alone, without
drawing on outside help.
"Oyer deposits have been coming in
freely from the business men OF the
city, and one alone, that OF $4,000 from
confidence is felt in the bank
The crowd OF depestors which at the
opening OF the bank crowded it's doors
increased towards noon until they fully
equalled those of yesterday.
As the afternoon hours wore away
and the closing time approached they
dwindled away until when the doors
closed only probably dozen were with
in the building, in contrast to the crowd
which occupied the same space yester-
a1J AhO III Woo 6PPoAOhbir u Will :
of the past, and the remaining deposit
ors had decided that their money was
safer in the institution than their own
pockets.
THE SOUTHERN CALIFORNIA.
Diagonally across the street from the
Los Angeles National a notice on the
doors OF the Southern California National
bank appeared shortly before 10 O'Clock
and attracted instant attention. 1t read
as follows:
"0wing to tho withdrawal Of deposits
and the stringency OF the money market,
our board OF directors has decided to
close their doors temporarily. Deposit
ors need have no fear about their depos-
it's. The bank has ample assets to pay
all deposits in full"
Mr.. Byeed, the president, told HER
AID reporter later in the day that il was
decided to close their doors after the
run which took place on them Tueeday
afternoon. 1--WE paid out over 500, 900, y
said he, land kept our doors open until
10 inmates after in order to give sll a
chance. 1t was decided, however, in
consideration OF the craze which had
taken Possession of everyone, that it
would be best to close our doors.
t.When the run commenced we had
over so per cent OF our deposits in cash
on hand, and that is a better showing
than any other bank in the city could
have made. We are perfectly solvent
and We have plenty OF money, the only
troubleis that it is in New York, Chi
cago and San Francisco, and it takes
time for it to reach us here.
t'Ios Angeles is too far away from the
money centres and that is the reason all
the banks have been compelled to close.
IT we had been granted little time all
would have been met. We have a large
amount of money on the way to us and
ex pect in few days to open again and
meet all demands made upon us. 1t
would have been foolish for us to have
kept open while the present insane craze
held possession Of the depositors."
THE BROADWAY BANK.
The Broadway bank. on the corner OF
Sixth and Broadway, also failed to open
yesterday morning, and its patrons were
surprised by being confronted by the
following notice:
sWe have closed the bank owing to the
fact that we can nos pay you all in full
at once.
Your money is safe, as it is loaned out
on good security. We have a we'll
founded prospect of obtaining money to
enable us to reopen in day or so.
"Our only liabilities are call deposits,
SIS. 400 25. Certificates of deposits, due
September, 1898, $4,000; total, s22,-
49025. Commercial loans, well secured
$40 0,67905; other securities, $26, 100. 70
total, $66, ,779 81"
Mr.. Warren Gillelen, the president,
told HERALD reporter yesterday after
noon that the depositors themselves
were striving to arrange matters in such
shape that the bank would be able to