The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1893-06-25
Fresno Experiencing the
Stringency.
SUSPENSION OF A BANK.
The Assets Four Times the L iabiIi-
ties, but the Money Cannot Be
Had Just at Once.
Special to THE MORNING CALI.

cure expected funds it would not open its
doors to-day. The announcement created
no excitement, as It is well known that
| the assets of the bank are four to one of
| liabilities. and that the depositors are
absolutely safe. Merchants at once
| placed printed notices In their windows
stating that checks of depositors in that
! or any bank of Fresno would be taken at
| par for merchandise.
The business of other banks was I'M
affected by this temporary suspension,
their depositors being con fident of their
! solvency, and that the suspension is due
to stringency of the money market
preventing them securing coin or even
| gilt-edge collateral.
The report in San Francisco paper
that the MADEIRA Bank depositors will
lose $4,000 is incorrect. The banks
assets are three TO one of its liabilities.
| The MADEIRA Bank will resume business
some time next week.
The depostors in the closed banks re-
fuse TO sell their accounts at discount.
No bank here is insolvent. the inability to
realize on securities being the sole cause
of the temporary suspensions.
The Loan and Savings Bank will open
its doors Monday.
SAN DIEGO. June 24-The officers of
the Bank of Commerce to-day announced
that the bank would reopen on Monday
Tor business. Funds are on the way from
| San Francisco to strengthen the reserves
! OF the bank, and such majority of de-
| p0sltors has agreed to the proposition of
| percentage payments that there is no fur
! Their fear of a run when the bank opens
The depositors who have not signed the
! agreement are not 10 be reached or are yet
unaware of the proposition, as SO far as
known not one depositor has expressed
/ disapproval Of the plan. Such revulsion
of feeling from four days ago is com
mentary on t. the real causes for the run on
| the bank.
Commissioner Gerberding, after COM
| plotting the examination of the Bank of
Commerce, examined the Savings Bank of
San Diego County, which is connected
with the Consolidated National. So salts
factory was the examinatio that he told
its officers that "they had no business to
close" and he wired to Attorney General
Hart for instructions to reopen the bank
on Monday. f. n. Pauly, temporary ex-
emlner OF the Consolidated and First Ma
tional. began an examination of the Con-
-NotIOHdl LO-ud1' no odlu Hb
| had no statement to make to the
public, but that he expected to make q full
report to the Comptroller of Currency. In
fact, that he had received telegraDhic or
ders to proceed with the examination.
Nothing could be done to reopen the bank,
he said, until the Com ptroler acted upon
the examiners report.
Funds for the First National Bank have
| been raDsfprrad hu rUi firm Ma orb
to San Fran cisco and are being forwaded
by express. Upon receipt of them and of
several large cash deposits to be made the
bank officials expect to be authorized by
the Comptroller to resume business.
All excitement has passed away and the
country banks are experiencing no trouble
| The Oceansde Bank, which closed tenn
porarily, will resume business Monday.
VALLEJO, june 24-There was run
on the Vallejo Commercial Bank to-day,
which lasted about two hours. All the
depositors were finally satisfied that there
was ample cash on hand to meet all de-
mands. No deposits were drawn by com
mercial houses and number of those who
had drawn early in the day redeposited
the amounts later on.
The banks books were audited tonight
|
demands that may be made.
| Los ANGELES. June a. Banking
affairs in Los Angeles are assuming a
normal condition and all excitement has
died away. The East Side Bank re-opened
to-day, receiving numerous deposits, and
the two national Da nks expect to receive
teegraphic permission to do SO from
| Washington within week. Judge Wild
ley of the University Bank, who arrived
from the East to-day, says he expects the
bank to open its doors within few DAYS.
The stockhol ders of the bank have decided
their property. including their homes, to
| the bank, the aggregate value of such
transfers being nearly 100000. The
amount Of deposits in the safe deposit
vaults Of the city is now said to exceed
! S2,000000. Some anxiety is felt for their
safety, as these institutions were never in
tended for the reception of such large
| sums of cash.
SAN BERNARDINo, June 24.-Receiver
j. e. King has opened the Farmers Ex
change Bank for the purpose of making
collections and will put its affairs in shape
as soon as possible.
Contrary TO expectations and to the pre-
dietions of the officers of the bank The
First National did not open to-day. put II
is understood that it is the intention Of
the stockholders to resume as soon as nos.
sibe.
Moscow. Idaho. June 24-The McCon-
nell-Maguire store, which was closed by the
Sheriff two months ago, resumed business
to-day. r. L. Sabin, manager of the
Merchants Protective Union, is trustee.
and +. A. David, one of the stockholders.
is the general manager. David expects 10
place the firm on a sound financial basis
| in short time.
WASHINGTON, June "a = Comptroller
Eckels this morning received a telegram
from San Bernardino bank asking per-
mission to reopen. He answered he would
consider the request when his examiner
made his report. Bank Examiner Lazar.
who was at Los Angeles, has been di-
rected to take charge of the San Berpar.
dino Bank, while Wightman, examiner at
San Francisco, will relieve him at the
| hrsi-named place. Bank Examn er Clare
of Tacoma has been directed to go to New
! Whatcom.
An application has been received nv the
Comptroller from all the banks in Spo.
kane requesting him to allow the Wash.
ingt0n National Bank of Spokane to reor-
ganiZe.
The Board Of Trade at San Diego ana
the president of the suspended First Ma
N nj hot ziaa H.