The San Francisco call., 1906-09-12

At 10 o'clock yesterday morning be-
gan something that mildly suggested a
run on the Hibernia Bank, the soundest
savings institution in the United
States. The doors of the bank were
kept open until p. M. at which hour
all the people in line were invited in
side and told that they would be paid
in full If the tellers had to be kept at
work twenty-four hours day.
Bankers were unable to account for
the furry. There was talk about town
of a scheme to injure the Hibernia out
of revenge for its treatment of cer-
tain scaling Insurance companies whose
policies it had refused to accept 1t
may or may not have been significant.
but it is a fact that several men were
busy all day among the waiting de-
positors. haranguing them, preaching
calamity and warning them against all
banks. It seemed as if they had been
hired to annoy notably safe and solid
institution.
MOSTLY WOMEN IN LINE.
There was no trouble in the line,
which was composed principally of
women. There was a sprinkling Of
men, but many Of them left when they
understood that there was no danger
Of the bank closing its doors.
The most singular phase of the furry
was that the deposits were as large as
usual, If not larger. The receiving
clerks were-a busy as the paying tell
ers. and the great piles of gold that
were stacked all over the bank did not
seem to diminish in size. though six
men were paying out money as fast as
they could.
Many women did not know what to
do with their money when they received
1t, and some went to the receiving
clerks and wanted to deposit the coin
they had drawn a few minutes before.
They were refused One man succeed
ed in redepositing his money, telling
the cashier that he had simply drawn
out his money to close a real estate
deal, which had fallen through. One
woman, who was most persistent in
her efforts to reach the paying teller's
deck, dropped her purse on the floor.
and when asked If that was the way in
which she took care of her money re-
Piled:
How can look after my purse and
the youngster at the same time?''
The police are fearful that there will
be some serious crimes following these
ill-considered Withdrawals. A number
of eyil-looking characters were hang
ing about the bank watching deposit
ors who had withdrawn their savings
Some of the women who drew out their
money were old and feeble and are
living in tents in the public parks
They all said they had been advised
by good friends" whom they had met
In the park to take out their money
and keep 1t with them for safety.
TOBIN EXPLAINS SITUATION.
R. NJ. Tobin, director and also the
secretary of the Hibernia Bank, said
l cannot imagine the cause of this excite
ment. 1t has assumed only mild proportions no
more than $50 people at any one time being in
the line. This is a small percentage of our
many many thousand depositors. An inspection of the
show the sum of more than $23, 900, 900 in i'm
mediately available assets. These consist of
The practice and rule Of the bank has always
been never TO accept amounts in excess of $1,000
with the result that the amount due to indi-
Tldual depositors is on an average S723.11.
Therefore. this furry occasions us no uneasiness
and we look forward to an early restoration of
normal conditions.
The amounts received in deposits continue to
De large and occupy as much of our time as is
usual under ordinary conditions. We feel conf
the conditions of life in San Francisco at the
present time precludes the likelihood of any Sc
now being paid out in wages to the working
classes, and the millions received in this manner
banks The payments from the insurance COM
panies have had most salutary effect upon the
situation: This bank has already received more
than So, 900, 900 of this raoney
This bank has always pursued a policy of
lending only 60 per cent Of a conservative yalua-
tion of the property offered security for loans
In In no case has it ever advanced more than SO
This wide margin is ample 70 cover not onIy the
shrinkage In real estate valces, but elso def
clencies OF the payment of insurance claims
In very many instances the p2snents of IN
surances have completely wiped out the debt
our mortgages IN the burned district aggregated
aDoug az @ @ 600 for which we held as security
30 600 600 OF insurance policies and S22 0oO, 900