The San Francisco call., 1896-11-01
READY FOR INVESTMENT
Vast Sums of Money in the
Banks of San Fran
cSco.
McKinley's E ection Will Cause the
Cash 10 Be Invested in Busi.
ness Enterprises

Bankers and finan cial men of San Fran.
cisco assert that business plans and new
enterprises wait on the result of the cleo.
ton next Tuesday. The amount of cap
ital awaiting investment is unusually
large. Bankers do, not care to give out
definite statements regarding new enter.
edge that the reserves of money are extra
ordinary.
William Alvord, president of the Bank
of California, was asked to give an
estimate of the amount of money wait
ing on the result of the election for in.
vestment in business plans and new en-
terprises.
He replied that no one could accurately
state the amount, and doubted if it could
be approximated. He was sure that the
announcement of McKinley's election
would release q vast amount of money
now on deposit in the commercial banks.
and large sums locked up In the safe de-
posits. When confidence is restored the
men who have locked up their coin will
bring 1t out TO get per cent interest.
Apart from the money going out to move
the crops there is little doing. Pans ana
enterprises of business character are
held III suspense awaiting the result of the
election.
The same story is told az the London,
Paris and American Bank. Charles Alt
schul, the manager, could not estimate
how much money was waiting investment
on the decision of the election next Tues
day, but he directed attention to the fact
that the reserve on hand in his bank was
20 per cent of the deposits, although the
usual accomm odations had been extended.
The bank would be well satisfied with g
reserve of 40 per cent. There was some in
vestment OF money to move the crops
but apart from that there was little de
mand from legitimate commercial enter
prise.
Philip N. Lillienthal, manager of the
Anglo Californian Bank, said to his knowl-
edge business transactions involving the
legitimate use of $1,000, 600 had beer
turned down by reason of remote doubt a:
to the result of the Presidential election
De was OF the opinion that If McKiniey
should be elected by an overwhelming ol
decisive majority confidence would be
restored in commercial circles. Th,
money now held In reserve would be re-
leased for profitable investments.
Adam Grant, president of the Donohoe-
Kelly Banking Company, one of the ables
and best known of San Francisco mer
chants, entertains the belief that the elec.
ton of Mckinley would re-esta blish conf.
dence in business circles and bring about
much better state of affairs
Samuel 6. Murphy. president of the
First National Bank, says that his institu.
ton has 20 per cent of its deposits in re-
serve. He acknowledges that there is
little demand for money to invest in new
and legitimate commercial enterprises
Bankers who do not care to be quoted
mention that large sums in coin have
been withdrawn from the banks and
stored in the safe deposit boxes. Still the
amount of idle coin held by the banks i.
prodigious. Depositors will not take any
chances while there is the least danger oil
Bryan's election.
Next Tuesday night when The returns
begin to come over the wires announcing
Mckinley maiorities and giving positive
assurance of Republican triumph plans
OF investment will be proposed. The
money now idle in the banks and vaults
will soon be brought out for investment in
enterprises OF industrial development.