The San Francisco call., 1898-11-15
THE TALLANTS
 HAVE RETIRED FROM BANKING Bought Out by Crock
 er-WoolWorth. "A MILLION THE FIGURE THE NEW CONCERN TAKES ALL
 CURRENT ACCOUNTS. Successful Close of Half Century of Unfailing Prosperlty-Cashier
 Mckee to Go With the
 Business.
THE NEW CONCERN TAKES ALL
 CURRENT ACCOUNTS.

As a bulwark of San Francisco's finan- cal fortress the Tallant Banking Company has ceased to exist. Its extinction began on Saturday last, when one of the big gest banking deals in the city's history was closed and as a result of it the Crocker- oolworth Bank assumed all of the liabilities of the retiring concern and accepted something like $1O00,0OO of its assets as balance against the debts
 The deal is in no wise an amalgamation. The stockholders of the allant concern retain the greater portion of the banks s property, and as soon as the many mat ters in connection with the transfer or current accounts to the Crocker- w ool- worth people are disposed of dividend will be declared and the many valuable properties and holdings accumulated by the Tallants during nearly fifty years of successful business will be divided pro rata among them.
 There is no hint given out that the transfer to the Crocker-W Woolworth people was forced by financial reverSes or 1n- ternal dissensions of any kind. According to the statements of President Austin .. Stubbs, Vice President Frederick w. Tal- lant and Cashier J. Dempster Mckee, the reason for dissolution is that in the past few years the interests of the owners have become so great and so widely di- versified and scattered that the time ana attention the business warranted coulo not be given it, so 1t will be closed out, that more consideration can be given py the individual stockholders to their sepa- rate interests.
 porated was the outgrowth of the DrlvaIe banking business organized by John U. Tallant in 1850. It was a successIul lnstl- tuition from the beginning, ana proSpeTlty was augmented in 1856, when John Mckee became partner and brought With nm the business of a large clientage
 = tuition until 1891, when 1t incorporated with a capital of sl, 100000 of which S50O,- 900 was paid up. The incorPorators were John D. TaIant. 300 shares; +. ". Tallant; 800 shares: John DempSter Mckee, son or D. J. Tallants first partner. 49o shares, and Kirkham Wright. oe
 John D. Tallant acted as president ot the new company until January Of yl, when he was obliged to retire from act i've business on account of an un1oftu- nate mental affiiction that overlook him while on a business trip to New fork Gyystin c. Tubbs took his place in the business and the other officers were Fred erick w Tallant, vice president; J: Demp- ster. Mckee, cashier, and Kirkham Wright secretary.
 was consummated in the assumption by the Crocker-W Woolworth Bank Of all or the Tallant Company current t,or aecoe, ner ertner in the Crocker institution, was seen ye5ter- day evening just before he left for Bur lngame. In reIeTeHC0 tO tiic oSet SAi'
 We found the affairs of the Tallant Bank in splendid condition and were really surprised at the magnitude of it's busi- ness. It's management, ever since it's or ganiZation, nearly half a century ago, has been able and conservative and it's stand an : ing has always been of the highest This was due to the management of MT. Mo Kee, who was, so long president of the Dempster Mckee, who, as cashier, has been in charge of the bank for some time MT Mckee now comes to the Crocker- Woolworth Bank. where he will hold a position of responsibility. We were really Surprised at the magnificent condition of the bank and it's business.
 'The transefer of the accounts was be- gun on Saturday and completed only yes- terday. and we are ready now to receive the hundreds of solid business men who have for so long carried accounts with the old company. We find that a large portion of the Tallant CompanX's busi- ness was among the commission men. wholesalers and those doing business with the shipping, and this fact, coupled with the profitable condition of the company s affairs. is a source of much qualification n tlS'' V