The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1894-01-03
"A: GOOD SHOWING.
State of Affairs at the
= Pacific Bank.
=.
IT'S PRESENT CONDITION.
Bank Commissioners Present
Their Report.
WHAT HAS BEEN DONE SO FAR.
If the Estimate Be Correct, Then
= There Will Be Ample to Pay
Creditors in Full.
WHAT HAS BEEN DONE so FAR.

The report Of A. Gerberding on behalf
of the Bank Commissioners upon the con-
dition of tile Pacific Bank was presente
to Judge Hebbard yesterday and afterward
filed.
The first statement. which gives the
work of the commissioners from Novem-
Der 8 to December 5, 1898, contains three
exhibits. One is the balance sheet of
December 4, which shows the balances of
that date as they appear upon the books of
the bank.
The second exhibit is a statement of the
receipts and disbursements by the Bank
Commissioners, showing that there has
been collected on interest, notes and over
drafts due the bank the sum of SS493 80,
and stocks sold for the sum of S6450 The
total amount thus far paid for taxes is set
down at S7946 80, with probably still some
taxes due. The report states that Mir.
Whitley was sent TO Washington at an ex-
pense of $500 to report upon the Cedar
River coal mine, debtor to the extent of
$4,000; and j. Z. Farnum was sent TO
New York at an expense of $500 to look
after the banks interests there
The third exhibit is statement of esti-
mated value of assets on October %. 1893
.6iOn InE hSdJ bNl VI d AOldi III D 4
there is 81, 615, 443 presumed to be good
1t this estimate prove TO be correct there
will be sufficient funds to pay all creditors
in full. as the total amount of indebted
ness of the bank to all classes Of creditors
appeaTs to be 81. 592, 247.
The Commissioners state that until all
claims are filed il will not be right TO de-
: clare dividend. A ; per cent dividend
would amount 20 $4,000. The receipts
from November to December 4. 1898, on
bills receivable. interest, individual over
drafts, bank overdrafts, stocks and bonds
sold and cash received from II. |. Wiley,
.receyer. are placed at So, 053 CO. while
disbursements, including expenses Of ii.
l. Wiley. taxes on real and personal prop
erty, salaries. attorneys fees and sundries
cdnfe TO S11s075 10, giving cash on hand
December i. 1898, in the sum of SIS, 97S 90.
The estimated value OF the assets, as
given October %, 1898. is as follows: Cash
on hand. SD. LILO 90; cash in the hands of
Sheriff MCDade, $50, 900; bills receiva bic
(commercial loans, S163,4Q7 80; bills re-
ceiXabe collateral lOans) S124, 705 90 !;
bills. receivable with :. q. Murphy, trus-
tee, S15S.4S9 IS; real estate owned. $685.
T25; collection. account, $500; stocks and
bonds: S488. $50; due from Eastern banks.
:: SIS 362 Al; dine from banks (lverdrafts),
$780,, 104 81 individual oyerdrafts. $780,
T56 Is; FUR ,iCure. safes, ETC., $500; giving
a Total of S1,610,71 10. Amount charged
OF 50, 075,926 SO; giving the total assets
: October %. 1895, as per books Of the bank,
IS 6S6. 637 So.
:: -. Accompanying the above is a second par
.,tiaE- report, giving the commissioners
statement of. receipts and disbursements
). from December 4. the date of their last
report, to .Deeem Der 3d. and also a state
ment showing. all the receipts and dis
bnTsements under the administration of
the: Bank Commissioners since November
8, 1893.
-. This statement shows the cash In hand
to be .S32, 267. &c.. Claims against the bank
have been filed by 202 creditors, represent
ing a total Of 1852 1877 IL Demands upon
:all fire debtors have been made. and many
persons owing small accounts have prom
Used to- settle within sixty or ninety days.
AS TO, larger notes and oVerdrafts pro-
-ceedingSare To be taken at once.
- In the matter of the Indebtedness of
=: Mr. Gage. about S100,000 an action has
been: commenced al Riverside against the
Riverside Trust Company, this icing re-
gaTded as the only method OF possibly Sc
curing the debt.
e. Several, actions will be brought In the
matter Of the John Brown Colony debt,
" which is oyer S260.000
With regard to the Cedar River Coal
Company; which is debtor to the extent
OF S122, 600, the property at present offers
no possibility of yielding anytime. There
lis also mortgage on the mine p. $4,000
to" Samuel Blair, which will precede the
banks claim;
.,Thefe is. n disputed claim of $50. 900
against the Riverside Banking Company
which will probably come before :he
courts, and there are matters in New York
which have been personally attended To by
MIR. karnun, who Is expected to-day. The
suit Brought by the Peoples II ONE Savings
= Bank against the Pacific Bank and the
: matter Of the $4,000 now In the hands Of
. Sherlf McDade under attachment are re-
ferred to at the conclusion of the report as
:: matters yet undecided.
e In conclusion the Bank Commissioners
. report that the total receipts from Dprem-
Der ;5'to December 81, 1893, were S34,4 95 OF,
as against S2207 II in disbursements. The
total receipts from November 10 Decem-
ber- 81, 1898, were S45,570 II, against dis
judgements Of S13,2S2 %. giving the bal
: aHce of cash on hand So, 287 SO, as re-
ferred 10 above.
Presiding Judge Sanderson made an
order in the afternoon directing Sheriff
: McOade to satisfy the judgment rendered
by Judge CARRIER in favor of Ferdinand
Smith for 1000. 1t was decided that
Smiths claim must be preferred, as the
money claimed was a special deposit
and did not form part of the assets of the
bank. The Sheriff is therefore directed to
pay this money over TO Smith out of the
$4,000 which he now holds in hand under
attachment
Suits have been filed in the Superior
Court by the Bank Commissioners on be-
behalf of the Pacific Bank TO recover
amounts due from the following persons
A. Davis & Son, S2l, 412 63: Granville S.
Abbott and David Hewes, 1858 70; Daniel
Titus and Z. S. Pillsbury, $500 30. Attor-
neYs P. I. Dunno and w. f. Baggett rep
resent the bank and Bank Commissioners