The morning news. [volume] (Savannah, Ga.) 1887-1900, 1894-12-24
MILLION And A HALF.
That Was The Size Of Claus SpTeCkelS'
Check.


the Bank Would Honor One for So
100000 More If He Drew One That
Big.
From the San Francisco Examiner.
1t is a nice thing TO be a millionaire so
many times that one can walk into a bank
and check out million and a half of dol
lars. and yet rest easy in the conscious
ness that the snowy transaction can be
repeated the next day. and the next day
after that, without the bookkeeper remon-
strating with a little notice to the effect
that the account is over drawn. 1t sounds
like Alladin's lamp.
Doubtless there are several gentlemen. in
San Francisco who could DO this if they
Z rehearsed for the performance by CONSOLE
dating their securities, but there are not
many who make a habit of it. The aver
{ age San Francisco paying teller would
blink his eyes. make some inquiries in
the back office. and even if all was pro-
/ nounced regular he would stutter when he
/ inquired, Notes or gold, sire" of the gen
| teman presenting a check for 81, 100000.
Those were the figures on the check
~ NAeAtto lANNhtASs the sugar king,
on the Nevada bank last Friday. when
clearing house transactions were swollen
/ to considerably over high-water mark.
/ Nobody questioned Mr. Spreckels fnan-
/ cial right to draw such a check or the
/ banks ability to cash it, but nevertheless
/ II caused more of a furry in banking and
/ financial circles than has been experienced
/ IN several years. The Pacific and Peoples
/ Bank collapses We're not unexpected. and
were mere ripples on the fact of the money
/ ocean compared with the waves of talk
/ the big check provoked
FROM all accounts Mr.. Spreckels was
| waking down Montgomery street in a re-
/ nective mood Friday morning when he
/ was struck with the Idea that he would
ike TO have a little pocket money availa-
/ Die In some other institution than the Ne
/ Vada Bank He climbed the steps
/ asked for blank check, scratched in
/ me date seven figures the words Bank of
/ california" after Pay to-" and then
signed it as quietly as though he was
putting his o. X. on a cigar bill. The
/ portentious slip of paper was passed TO
CashleT Davidson as a matter of form
and the president was also notified. The
latter official did not trouble himself to
/ leave his office. but merely sent out word
| that it was all right, and Mr.. SpreckeIs
being satisfied that his business would
! De attended to, resumed his walk down
town. ~" -
That is the way the story goes. and It
may or may not be correct as to detail.
but anyhow it is certain that the man
VINO beat the sugar trust on its own
| lighting ground drew his check for a mil
hon and half of money last Friday, and
] the sum was transferred from the Nevada
Bank vaults to those of the Bank of Cal
ifornia before the close of business.
with this fact to- work on everybody in
in f,rrry
on the sort of a transaction that could in
volve such mint of money and yet be
Kept a secret. Theories and rumors were
| thicker than fog.
one young man evolved the explanation
that Mr. Spreckels had been the hidden
hand in the mysterious bull movement in
| the wheat market last summer. and that
the check was intended to cover the cost
OF buying steadily on a falling movement
This was generally laughed at by those
who knew the Spreckels opinion of
wheat.
Another suggestion was that Mr.. spreck-
els was tired of business and intended
to seek recreation in the United States
Senate.
This idea was scornfully repelled Every
! body claimed to know for fact that John
d. Spreckels and his brother Adolph had
merely gone into politics for amusement
/ and to see how the machine was worked
in various branches of state and rnuni-
/ c-pal government, and that no member of
the family had any expensive desire for
place.
A transfer of accounts was considered
the most likely theory. 1t was well re-
/ membered how the Anglo-California Bank
disagreed with Mr.. Spreckels once upon a
| time-not so many years ago-and the
latter drew out his odd pennies by check
ing them into another bank. He had a
lot of nice, new check books at the
time.
Instead of throwing them into the
| waste basket he bought a large. red rubber
stamp, and every time he drew check
thereafter he took the stamp and printed
I Nevada Bank across that portion of
the checks that read "Anglo-California
Bank" This did not provoke a run on the
bank that was turned down, but ii stood
| in the nature of a red reproach as long as
those check books lasted
The question of Fridays big check be-
ing a similar change in strong boxes was
much debated, and the effect of such
transfer was discussed in like manner
1t was this presentation of the case that
induced Mr. Spreckels to say something
about his big check. which, by the way, he
| did not consider anything extraordinary,
! last evening. He was engaged in an after
/ dinner game of checkers with his son,
| John, when called upon, and having a lit
tie the worst of the game was much more
than in any matter involving mere mil
lion and a half. John D. too, was deeply
interested in the game. 1t is a way these
| mill:onaires have, this being interested in
trifies, and the young man is fair sample
! of his sire.
This is a small matter of private bus
! mess" he said, and it involves no bust
ness transaction that is of interest to San
| Franciscans-or any one else but myself,
for that matter I have drawn many
checks for amounts as large or larger
than that and though some of them may
| have possessed some business significance.
they have not attracted any great amount
| of attention. What is the matter with this
one, which does not involve any deals or
| turns or anything of interest in the bust
ness world?'
Some of the theories Of people who con-
sdered the check worth talking about
were suggested, but Mr.. Spreckels only
| laughed until the matter of a transfer Of
| his account was mentioned.
There is absolutely nothing in that
| The Nevada bank paid my check for 81
100000 Friday and it would cash another
one for a similar amount tomorrow
morning and another one Of the same size