The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1898-11-04

him Tor same. be SuLS d2AO Aot AOi-
get to attend to this. We are all in
terested in not being placed in this
false position any longer since the
examiners do not seem to appreciate
the sacrifices we make in our posi-
ton. If you prefer not to have it ap-
pear among your stocks and bonds
let Jenkins give his note for the
S142, 900 at g per cent interest, pay
able when coupons mature December
and June l., and hold the bonds as
collateral. Only take 1T off from
fathers name and it better first pass
through your stock and bond account
and then into your bills receivable.
I have to-day written to Farnum
suggesting he ask his board to take
two notes from us: one of A. f.
Johns, payable thirty days after de-
mand for one hundred thousand dol
lars at 8 per cent interest, payable
semi-annually, secured by these lao
-zater bonds and the Endorsement of
the Pacific; second, of A. L. Jenkins
for fifty thousand dollars, same chr
acter as the preceding one, secured
by the Go Valley street. bonds and
our Endorsement. These would make
two good loans and would cut down
the deposit account with Us by one
hundred and fifty thousand dollars;
then on our books we could credit UP
the sale of a one hundred thousand
Of one and fifty thousand of the
other, leaving our apparent holding
of these securities only AZ plus 10 or
So in the place of 142 plus GO or 20S.
You see we would, as it were, sell to
Johns one hundred thousand. of the
bonds, but would agree to deposit
our other forty-two as collateral on
his notes and indorse his notes for
him and the same to. Jenkins and we
would so notify them if necessary.
This would make two good loans for
the P. n. S. B. and reduce their de-
post with. us by $4,000. If this
is feasible it should be done, but I'M
less Farnum speaks to you about 1T
you better not mention it to him, and
even then you better. not say. dis
cussed it with you. In the event
this should go through at the P. 81.
S. B., must have the bonds returned
from the Chemical to you and then
you better send me the Mohawks that
I will leave with them. Whenever
you begin closing up on D. remem-
Der you must send me other good
bills receivable to substitute in the
. Republic and U. S. National for the
Riverside paper left there; and you
better send it little ahead. They
will not care to hold paper of an in
stitution in trouble, such as his
would be. It looks bad fer so many
of our officers to be away so long and
people ask how we can boti-- be away.
I learn here that Murphy and
other San Francisco banks allow in
terest on bankers deposits, and I
think you. better do The same. It is
folly for. US to allow these deposits
to toat away from US, as we have al
ways done. Your loving brother,
FRANK.
P. ST only our health holds
out and you can peg along a while
yet, I think we will relieve you in
one way or another, gradually. In
regard to the Motor road, you under
stand our position. The Motor prop
osition is not Riverside matter.
You need not feel uneasy about that
road. It is valuable and will bring
us a good price, whether sold to the
Southern Pacific, the A. P. or the
Denver and Rio Grande. We were
seemingly beaten in the suit, by the
S. P. probably corrupting the court,
but it does not, after all, seriously
affect us. Huntington himself told
d. he would see him in Riverside in
: November and examine the road and
purchase it for what he thought it
worth, and admitted he considered
our controlling interest worth $780,,
900, and Stubs has said they would
pay 1925, 900 for it.. They do not
know what we are. doing here and
they may think that we have piles
of money: The things for US to do
are to keep mum, push. head and
wait for our opportunity. Do not adj
nit anything. Do not put anything
In writing. We are forever through
with the Spencers. Let us try to get
them scattered. In due time Pa will
return and sell his house and go to
the Baldwin to live. Let us gradu-
ally get John to go to some other
city, Seattle. or Honolulu, or Japan,
and thus decentralize their forces,
and one of these days we may move
the rest.
I. never lose sight for a moment
the fact that what we need first is
money, money, money, to straighten
up our business matters. Keep ev-
erything in here confidential. Your
loving brother, FRANK.
TWO THOUSAND DOLLARS MORE
FOR DR.. MCDONALD.