The morning call., 1893-08-11
People Are Unlocking Boxes and
Releasing Gold.
WHAT THE BANKERS SAY
Their Talk More Hopeful Than 1t
Has Been for MOnths-Mer-
chants Pleased.


days the clouds that have overcast the
financial sky have been rolling away and
business men begin to see sunlight at last.
That the crisis has been passed and passed
some time ago is the general belief.
A tour of the banks. large shipping
houses and business associations yester-
day brought far different answers TO IN
terrogations than similar visit did
fortnight ago. In word the tight grip
that has been held upon money is being
loosened and the yellow metal is flowing
some W hat m ore freely. 1t is coming slowly
at first, but is expected to increase in
volume as the days pass.
In the first place. the people are recover
ing from their scare. and this is indeed the
most encouraging feature Of all. For some
reason they at once drew their money
the channels of trade and locked them
up. Now the locks are being broken
and it is coming out. This information
comes direct from the deposit com panies.
One month ago every one of them had
rented all their boxes. and IN these re-
ceptacles that magic substance, gold, was
being slowed away. Fifteen days ago a
movement was noticeable in the other d.
rection. One by one these boxes were
given up and the number has Increased
daily, unit! now a good percentage Of the
treasure receptacles are unoccupied. This
money is being ent out. True. the rate of
interest is high, but as banker said ut
will grow less and less as box after box is
opened"
And the signs are better in commercial
and savings banks. The former are raj
idly advancing money on crops and in one
or two of the latter Institutions yesterday
the first loans on real estate in thirty DAYS
we're made. The fruit crop is enormous,
and agents for interior shippers say that
their customers are getting much better
rates on money than they expected. Wheat
Is being shipped down the valleys so rap
idly and in such quantities that the South
ern Pacific finds it impossible to provide
enough cars, and this. in spite of the TACT
tn at many farmers are holding their grain
back waiting higher prices.
Private advices to bankers from their
New York connections yesterday spoke
of better feeling there, and from the
Northwest comes the news that several
which had temporarily
suspended had resumed Bankers of
city have their finger on the financial
pulse. A number of these institutions
we're visited yesterday by reporter for
THE CALL. Officers in several banks,
taken indiscrimiuately, are ouoted:
Henry Williams, vice-president of the
California Safe Deposit and Trust Com
pany-There is not nearly the demand
for boxes in our institution that there was
a month or even two weeks ago, and many
persons who rented them when crisis
seemed imminent have given up their keys.
This shows that they have recovered con-
idence and are returning their money TO
the channels of trade. 1t is the most hope
full sign IT the times and makes everybody
feel brighter. With the people rested the
sayso as to whether times should be hard
or easy. They shut up their money and
things looked dubious. They are bringing
it forth again and everything looks
brighter. We are all glad that the change
has come, and do not doubt but that it will
remain so. In our banking department,
as we'll as in the 'stOrage vaults, we notice
change as well, and money is moving over
our counters with more freedom.
John F. Bigelow. vice. president of the
Nevada Bank-Yes, the change seems to
be at hand, but it is coming slowly. This
is all the better perhaps. Of course the
condition of affairs here depends in great
measure upon the money market East, and
if the encouraging outlook there keeps up
the financial barometer will rise in pro-
portion here. But. indie pendent Of the
East. California has hopeful signs in
itself. Commercial banks in large num-
Der have thrown off the reserve they had
and are lending money freely to farmers
and growers. SO as to help them move their
crops. Gold is coming back from Europe
and much of it will find its way here.
5. Leonard Abbot Jr., secretary Security
Savings Bank-1 learned to-day that conf
mercial banks were lending freely to
farmers and that there will be no difficulty
in moving crops. That's the best sign vet
AS far as the banks in this State are con-
cerned the crisis is passed, the Cay of
liquidation Is over. Matters were at the
highest tension just after the Pacific Bank
failure, but there is no tear now, abso-
lutely none at all. The United States has
been in the condition of a typhoid fever
patient. The sickness had to run lust so
long and now it is broken. ConvaIescence
is in order and il will be healthy again.
Within sixty days think we will regard
the whole trouble as history and that
money will be as free as it was a year ago.
Edwin Fre!weu. president American
Bank and Trust Company-The day of
liquidation for San Francisco banks is
over and the worst has passed. | think
good times are in sight and can alre adv
see signs of the grip OIL money being
lOOsened.
Cyrus W. Germany, cashier Savings and
Loan Society - the people have the
power to remedy the evil by putting into
the channels Of trade the money they have
taken out, and l already see signs of the ir
recovering their senses"
w. Il. Croker. cashier the Croker
WOolwOrth Nati0nal-I have to-day re-
ceived good news from the East and from
the Northwest. My advices from New
York are that everything is easier and