The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1895-07-13
BANKS AND PAWNSHOPS,
The Former Name Must OnS
Be Used by Commercial
Institutions.
AN OPINION is REQUESTED.
The New Law Prohibits Loan Offices
and Saloons From Using the
Term.

There are banks and banks. The law
saws that only such institutions as receive
deposits, give and receive checks, sell e1-
change and make loans at legal rates OF
interest, or subject to the supervision OF
the Bank Commissioners, shall be entitled
to the use of the word "bank."
There are probably a score or more lnstl-
tutions doing business in San Francisco IN
which the forbidden term is used in some
connection improperly. The last Leglsla.
ture amended the act creating board OF
Bank Commissioners, section 70 OF Whlch
now reads as follows:
The use OF the word bank or any other
word or terms denOting or implying the COLI
duct OF the business OF banking, or tne us 1; y,
the word savings alone or IN connection
with other words denOting or Implying the
conduct OF the business OF savings INSTITUTION
or q savings and loan society, IS hereo! pro-
hibited 10 all persons, hrfnS ASSOCIATIONS, CUM
NAMES or cOrpOf atiOns other han those SUBJECT
10 the supervision OF the Bank commissioners
or required by this act 10 report thehl, anu no
license as in this act provided shall be issued
nv The Commissioners TO any corporation tnat
does not receive money from the pubnc as
deposits in manner customary Win coIhIleI-
ciaI or savings banks.
Any person. firm, association, company or
cOrpOratiOn not subject TO the supervision OF
the Bank Commissioners or not required by
this act TO report 10 them making use OF terms
implying conduct OF a bank savings bank, or
savings and loan society, by means OF signs,
advertisements, letteT-heads, b1llheads, blank
notes, bank receipts, ceruncateS, circulars or
any written or printed or partly written and
partly printed paper whatever, having there
on any artificial or corporate name or
other word or words indicating that such
business is the business OF a bank, savings
bank. or savings and loan society, shall forfeit
for each day the offense is continued the sum
OF one hundred dollars, TO be recovered as pro-
vided in this act.
The term bank is applied to pawnshops,
saloons, and in one instance in Alameda
to a coaivard. The Bank Commissioners
claim that the institutions now using this
term are violating the law, though this
point is not exactly clear to them, and for
that reason they have addressed a letter
to Attorney General Fitzgerald asking for
his opinion ON the subject. The Commits
siOners claim that the amended section
makes no provision for corporations, indi-
vlduals or firms in existence prior to the
amendment of the act, and is consequently
operative against those now using the pro-
hibited term.
Many of the pawnshOps that have hith-
erto used the word "bank'' in some con-
nection with their business have wisely
concluded to forego what might eventually
prove expensive. Others construe the
amended section as applying only TO firms
or individuals using the term after the law
became operative. The opinion OF the At
tOrneY-GeneraI will not be made public for
several days, as that gentleman is in Los
Angeles and will not return before Mon
day. In the meantime the Commissioners
are quietly going ahead securing all the
evidence possible against the offending
parties" as they are pleased TO term pawn
shops, saloons, etc, now using the mis-
leading term blank and will be pre-
pared to act Immediately, should the
Acknowledgement confirm their position.
The following are a few of the institu-
tions now attracting the attention OF the
Commissioners, showing the manner in
which they are violating the law:
Security Loan Bank, 1106 Market street,
has the regulation three balls, with notices
printed on the windows advertising the
class OF business solicited.
Bank Exchange, 536 California street,
proves 10 be saloon, now vacant, Of
which Ashton and Gordon are the agents.
The Pacific States Saving and Loan
Building Company offends the law by hav-
ing printed on the window Mutual Say
mgs Bank"
The Collateral Bank, William Hymans
proprietor, is a regular pawnshop.
The San Francisco Consolidated Loan
Bank, capital $500, 900, proves to be an in
stitution politely termed money brokers'"
The Continental Building and Loan AS
ISOLATION of California has a sign on the
window reading, Mutual Savings Bank
Interest paid semi-monthly."
Alameda furnishes novel violation of
the law in the shape of an institution
called the Goal Bank" There wood and
coal are the only articles offered in ex-
change for currency.