The morning call., 1893-07-07

sion.
RESOURCES.
Bank premises. ..............,.. 5000. 900 90
Other real estate. 169,2 IL
rants bl7,6ls54
Loans and disc cunts. .............. 2,5il.276 %
Cash and items. Observation-Disclosures. 53.036 II
Due from banks and bankers . 262,s93 %
Expenses, taxes etc.................. 4S.493 81
other assets. suspense. ............... 1ol ~
Total resources. .................$379 1872, $50 80
LIABILITIES.
Capital paid 81 900. 600 90
Reserve fund SOO, 0Cu w
Due depositors ..................... 1859 652 So
Due banks and bankers ...,.-....... 4S5.34S 33
Interest collected. 57.50l to
Rents exchanges, etc. ............... 3,U66 81
Dividends unpaid ............-....... "a 90
fronts and loSs.......- ......-t..... fo,S9o 80
Total liabilities. So, 79Z $50 80
On the odd ult.. when the bank closed its
doors, r. II. Mcdonald Jr., vice-president,
made the following statement: THE
capital Of the bank is 81 200, 900; surplus,
$50. 1000; undivided profits. $4,000. Our
individual deposits are over 100000; due
Eastern banks, 100000; country banks,
$50. 600; certificates Of deposits, $3.50, 600 :;
total, about S1.600,000. Against this we
have 81 800, COO in bills receivable. 81 ,000. 900
in bonds. real estate, etc. so that If the
capital and surplus were swept aside we
would still have enough to take care Of our
depositorS.
a CALL reporter showed R. II. McDon-
aid Jr. copy of the Bank Commlss ioners'
statement soon after it was completed.
THE statement" said Mr. Mcdonald,
shows the hank is solvent at least. This
is the first l have seen of the statement.
All! you see how they have cut down my
estimates of resources. Just look at that!
On my estimate Of bank premises reduc-
ton of SIS. 900 is made, 100000 is taken off
my figures on amounts invested in stocks
and bonds, $500, 600 is sliced off of bills re-
ceivable and 100000 is the reduction on
overdrafts. But still the bank is solvent.
las 10 what course we will pursue In
the future l cannot say at present. First
| shall call meeting of stockholders to
consider what steps are to be taken. 1t
should not be forgotten that the good
will of this bank is worth $3.50, 900 by it.
self. l heard nothing from my father in
New 7 ork to-day, but he has already sig
niied his willingness to submit to any
scheme Of reorganization or plan whereby
business may be soon resumed"
Bank Commissioners Knight, Gerberd-
ing and DunsmoOr were closeted with At
torney-General Hart for some time after
the report was given out. When reporters
were admitted Mr.. Hart acted as spokes-
man and said:
There are S127. 135 " over assets to pay
depUsit0rs and amounts due banks. There
assets. with which stockholders may con-
sole themselves. | wish to state right
here that no personal feeling has been dis
played by the Commi SSiOnerS in investigat-
ing the Pacific Banks standing. Each
Commissioner made separate estimates and
afterward compared the results. MIR. Ger
berding's estimates Of the resources ex-
bv $4,000. There was difference of but
5000 in the estimates of Commissioners
Dunsmoor and Knight. The three sets of
figures wero added together and then
divided by three. The allusion made to
Mr. Gerberdng are therefore unjust"
In submitting the report, the commits
sion did not make any recommendations.
when and how the bank may resume bust
ness; but he will not do SO until after an
examination is made Of the Peoples Home
Savings Bank.
The Commissioners say they believe the
Peoples Bank is solvent and has assets
sufficient to pay all depos;tors in the ordi-
nary course Of collection.
There are four things the Attorney Gee
eral has right TO decide on in reference
to the Pacific Bank He can decide whether
the bank can be forced into liquidation,
whether 1t can or cannot resume business,
whether an application shall be made for
the appointment OF receiver, or whether
the bank shall 60 into voluntary liQuida-
ton under control Of the Bank Commits
SioDers.
AS to these points the Attorney General
said he would render his opinion early
next week.
From the report of the Bank Commits
sioners it will appear that while in the
East many banks have been swept out of
existence by the financial cyclone passin
over the country. California, aud par leu
larly San Francisco. has been specially
fortunate. Not single bank in this city
has been found insolvent. While. from
some perhaps injudicious investments and
the stringency in financial circles the
Pacific Bank was compelled to close its
doors. when reorganized it will doubt
less prove to be what 1t has been In times
past profitable investment to the stock
holders and one of the leading banks of