The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1893-07-14
RESOURCES


Total liabilities 42I.927 80
SIN the item of real estate cassed among
assets We deducted $13,359 &c" said CON-
missioner Dunsmoor. (which is accrued
interest. This leaves the item S37,67S 49,
We have also thrown our stocks held by
the bank, consisting Of 2S9 shares Pacific
Bank. estimated TO be worth SAC, 1856. and
1857 shares of the Peoples Home. valued
at S107. 33S. The guarantee of the Pacific
Bank we class as good as it is a liability
on the stockholders. We also consider the
loans and discounts of the bank as good.
There are several pieces OF real estate on
whirh foreclosures will be made, so we
made a deduction of 10 per cent on the
item loans on real estate to leave a
margin for loss in forcing collections.
That means a cutoff of Sl2S.0O0 and odd,
OF course, the cash balance and debts of
banks are good"
Attorney General Hart has not yet made
up his mind upon course OF action with
regard to the Peoples Home Bank. but he
will act in the matter as soon as possible,
because he realizes the fact that many
people may need money now tied up IN the
bank, and others may want to continue
business with 1t.
eff there is no impairment of the cap
ital," said he yesterday, Il shall order the
bank TO open its doors as soon as it can
get money enough into its treasury to re-
SuHlb DuSlUtSSs L luteuu RUtUS W HUH.
boldt County on Saturday by the steamer.
1t is just possible that If don't go then
shall decide on the question before next
Wednesday. / won't return until August
3. and by that time expect the bank will
rave to open its doors"
r. FL. Mcdonald Jr. is positive that
the securities of the Pacific Bank given
good and do not need a guarantee.
''The savings bank will be kept going.
That is the intention at least" was his as
surance for the future. "Whatever may
become of the Pacific Bank the other won't
be affected"
R. II. Mcdonald will be president and
Mr.. Warehouse will retire from active
Emil Bellerman, formerly accountant Of
the Pacific Bank. j. E. Farnum has
stepped out.
An important decision affecting the
Southern California Electric Railroad
bonds. in which both banks are deeply in
terested,w given in Los Angeles Wednes-
day. 1t legal tangle over transfers and
mortgages of street-railroad system ia
Los Angeles over $1,000, 600 is involved.
Attorney Hart said the effect Of the decree
would strengthen the assets of the Pacific
Bank; but it is quite likely he may appeal
from the decision on behalf of the State.
Richard 81. Mcdonald Jr. was pleased
with the decision.
This settles the whole status of the
electric bonds" said he, "and there is
now no reason why they should not be at
without cloud on the title. This makes
all our electric road bonds good, which |
always claimed them to be. The Bank
Commissioners were merely stabbing me
by taking them off the list of assets. The
Peoples Home has 175 of these bonds.
against which Sl5O.0O0 has been loaned,
and the Pacific has about $500. 900 of them.
held in this city by banks at par 1t re-
mains how to see what the Bank Commits
si0ners will do with them"
Meanwhile, there is nothing new in the
status Of the Pacific Banks effort at reor.
ganlzing and resuming.