The herald., 1893-06-22


missioner Gerberding SAYS from
a cursory examination OF the University
bank made last night he found that the
bank owes S140,000 and has $500, 900 as
sets to pay it with. At the bank it is
stated that nothing will be done until
the return of President Widney, which
is expected about Friday or Saturday.
Mr.. Gerberding saws that "idiotic"
would not be too strong term to apply
to the senselees run on the banks here
now, as they were never in really bet
ter condition..
STATE LOAN AND TRUST COMPANY.
The officials of the State Loan and
Trust company, in the Bryson block,
in reply to reporters queries, said
they are perfectly able 10 pay every dol
lar they owe on demand. 'We are not
experiencing run, though our
demands of depositors are much heavier
than usual. We have had two men
since yesterday busy all the time in
letting out deposit boxes, and they are
all being rapidly taken. OF course
that is where the money is
going. There was 100000 in
money that went but yesterday from
the banks whether it has gone into safe
deposits or into stocks. take it, con.
tinued the official, "that the First Ma
tional aud the Southern California Ma
tional did wise and conservative acts in
not opening their doors this morning,
and they will not do 80 for few days,
until this excitement quells"
PRESIDENT TRANSMITTED SAYS ALL is
sAFEsq
LT-o-h.o.GoII 1f k6o Nalf-
fornia bank said they were experiencing
nothing unusual at that bank but were
prepared for a run if it was to come;
that they had ample assets on hand to
pay oil that demanded their money.
SECURITY SAVINGS BANK.
j. F. Ssrtori, cashier of the Security
Savings bank, stated that they had q
few depositors call and take advantage
OF the time clause to get their money,
but that excepting these few there were
no demands for coin. He claimed that
the bank had all the money necessary
to meet every demand, but that there
was more coin still on its way here,
which would soon arrive. They were
open yesterday from 8 am. until $3.50
p.m., and thought that the present
agitation was about over.
THE COUNTY MONEY.
A rumor gained some circulation
yesterday afternoon that there WAS some
trouble about the county funds on spe-
cial deposit in the City bank. The ru-
NOR arose, no doubt, from visit paid
to the bank by District Attorney Dillon
during the afternoon. Upon an investi-
CATION OF the rumor it appeared to be
without foundation. Receiver Brodt-
beck informed q HERALD reporter who
called to ses him that while there had
not yet been thorough examination OF
the accounts of the bank, he felt author
izsd to say that the county funds were
completely secured. AT the present
time the bank did not have more than
$40, 900 OF the county's funds on deposit.
The day before the suspension Mr..
Childreas had set apart line OF the best
securities in the bank as additional se-
curity for this fund, and they were
placed in the hands of trustee for the
benefit OF the county. The cash on
hand in the bank would be first applied
to the payment of the county money,
and if there WAS a small balance to be
raised it would be easily done by the Sc
cureties already received for that pur-
pose.
Mr. Brodtbeck also said that Mr..
Childress had told him that the deposit
ors would be paid in full, and that If
necessary he would turn in his entire
personal estate to accomplish that end.
CHECKS ARE ACCEPTABLE.
Mayor T. e. Rowan and G, a. Dobin-
son havs issped notice that they would
receive cheeRs on the First National for
raal estate, and. WOULD til en- reduce their
prices % per, cent as wen.
This and seven or eight, other notices
to similar effect win be found published
in another column.
All these go to show that the inanciers
know that there is no danger OF final
loss to depositors, and should 90 long
ways towards restoring confidence.
THe COUNTY MONEY SAFE.
A certified statement of the money be-
longing to the county OF Los Angeles ia
given in another column. 1t states the
smount to be 1852, ,S52.21. and that it is
amply secured.