The Hawaiian star. [volume] (Honolulu [Oahu]) 1893-1912, 1905-03-13
CITY NATIONAL
IS IN THE DEAL
BANK IN NEW YORK Is
MAS NEW STOCK ISSUE.

SAN FRANCISCO March 4.-The
growing Importance of San Francisco
as one of the worlds great financial
centers is fully demonstrated by the
desire of Eastern capitalists to estab-
fish themselves in this city by becom-
ing stockholders of the Bank of Cali
fornia.,
While the statement has not been
officially made, it is now known that
the Large and influential moneyed in
stitution" referred to in the recent let
ter of the directors of the Bank of
California to the shareholders is the
City National Bank of New York city.
The offer to take 5000 shares of the
banks new stock at 1915 per share
shows confidence i'm the future of the
city and State, as well as an inten-
ton to be in a position of prominence
in the upbuilding of a great CONNER
cial era in Oriental trade.
AS stated i'm the "Chronicle" yes
terday, Standard Oil interests are Il
controlling factor as can readily be
seen by the following list of di-
rectors: II. \. c. Taylor, William
Rockefeller, Robert Bacon, James A.
Mccall, ]. w. Sterling, Jacob H.
Schiff, E. II. Hartman, A. G.. Looms
George w. Perkins, c. II. Dodge, NJ
Taylor' Payne H. o. Havemeyer,
Samuel Sloane, s. S. Palmer, James
H. Post, c, S. Fairchild, Moses Tay-
lor and James St!llman.
The City National Bank is the
greatest banking institution in New
York and, in fact, in the country. 1t
has a cash capital of $25,OOO,OOO and
a surplus of ST. 800 on February
18th last On that date it's deposits
aggregated SIP, 1922, 700 of which $780,
696,5OO was United States funds. It's
outstanding loans amounted to STA
SOL, 200 on the date stated, and it's
specie on hand was the enormous sum
of $37, 943 1000, besides 80 ,O66, 900 in legal
tender notes. There is only one other
bank in the country having capital
of $25, 900 and that is the Bank of
Commerce Of New York. The latter,
however is second to the City Ma
tional Bank in all other particulars,
and the latter's stock is worth $29S to
5000 per share, while the shares of the
former sell at 1925 to $22S.
Since the local branch of the London
and San Francisco Bank was absorbed
by the Bank of California the count
| ing-room of the latter has been taxed
to the utmost to accommodate the
eight clerks taken from the other bank
and facilities for handling the addi-
| tional business are considerably
cramped. The bank already has its
bookkeeping department in the lower
story of the adjoining building and il
ig stated that the premises formerly
occupied by the London and San Fran
cisco Bank will be utilized until largely
! increased accommodations now under
/ consideration are provided.
The lot at present occupied by the
Bank of California has frontage OF
676 on California street by so feet on
! Sansome street. A short time ago the
bank acquired twenty feet additional
on California street with a depth OF
eighty feet. This gives a site $40 or
California street, with a uniform depth
OF eighty feet. In order to provide fol
this largely increased business it is
stated the bank will shortly begin the
erection of a handsome steel frame
structure that will be an enlarged de-
sign Of the present building, which Is
recognized as one of the most artistic
examples of architecture on the Pacific
Coast.