The San Francisco call., 1906-04-25

portance that took place yesterday was
the conference in Oakland Of bankers
of the interior, called by the Bank
Commissioners. The bankers in all the
counties north OF Tehachapi came to
the shores Of the bay to ascertain wha;
could be done by the San Francisco
banks. The counties south Of Tehach-
2pi, being in the Los Angeles territory
viii be cared for by the Los Angeles
bankers, according to an agreement
that has been reached.
No definite result could be accom-
plished at the bankers conference in
Oakland. None was expected. In fact
the San Francisco bankers, for lack OF
notice, did not appear. The interior
bankers desired to learn what ready
resources the San Francisco bankers
have and to what extent the San Fran
cisco correspondents of the interior
banks could act for their benefit.
MILLIONS IN THE EAST.
They learned that two banks in San
Francisco. the Wells Fargo Nevada
National Bank and the Union Trust
Company alone have $4,000. 900 on call
in cash in New York and a great
amount in convertible bonds and
stocks amounting to many millions
more. and that other large San Fran
cisco banks also have vast sums in
ready coin IN the East.
They heard that the Government has
authorized the payment Of the face
value Of many millions Of dollars
worth of gilt-edged bonds and other
securities at the San Francisco Mint
whenever they are deposited by the
banks. 1t was said, on reliable author
ity, that s75o,oo0 or more will be ready
for Immediate payment in small sums
in Oakland not later than Friday of
the present week. They also had infor-
nation that a large sum Of money,
some millions In all, will soon reach
San Francisco from the East under
strong guard, and that 1t Is already on
the way overland.
The great sums to be paid out to
Ia aborers and others now that the work
OF clearing up San Francisco prepara-
tory to rebuilding is under way, held
promise of relief in the financial situa-
tion TO some extent The&insurance
WILL BACK THE BANKERS.
Cnohcially It was learned by the
visitors from the interior that the
Bank Commissioners of California have
resolved to stand firmly behind any
plan that all the bankers of the State
may finally decide upon after confer
ence with the Commissioners, and to
assist to the best of their ability to
carry It out, and that they are ready
to incur any possible odium in this d.
rection for the public good.
The bankers Of the interior have been
carrying the farmers through the win
ter during the putting Of the crops In
the ground. Their anxiety at this time
arose not from any doubt of the COM
rlete financial ability of San Francisco.
but because they will need more money
for the farmers soon.
One extremely significant fact was
developed yesterday. According to
Bank Commissioner Dunsmoor, the to-
tai liabilities of all banks in Califor-
MIA to their depositors, savings, COM
mercial and national. is about $780,
600, 900 in round figures. This includes
the liabilities In Southern California
to depositors. AS Los Angeles looks
out for Its own territory, the total
amount that can be called for Il greatly
lessened- The amount Of securities i'm
mediately convertible, IN addition to
the vast sums Of money in Eastern
financial centers. that belong to the
banks Of California amounts to about
30 per cent Of the face of the total
bank deposits.
The explanation of the many mil
lions of California money on deposit in
Eastern banking institutions is found
in the fact that when the New York
money market was stringent coin was
sent East to get high interest.
The following Is q list of bankers
from the interior Of the State who were
In attendance:
REPRESENTATIVE MEN.
J. s. Cutler. Calistoga; II. E. Losse.
Santa Clara: ]. q. Ward, Modesto; e.
Rodden, Arbuckle; C. L Walter, Fow-
Ter: r. II. Short, Fresno, l. D. Steph-
ems, Woodland; J. B. De Jarnatt, Co.
lusa; A N. Eudey, Jackson; F. M.
West, Stockton; Thos e. Connolly,
Stockton; H. e. Wright. Hanford;
Louis Einstein. Fresno; M. o. Wyatt.
r. Harkinson. Antioch; c. NJ. Ferdun.
Lodi; w. S. Richards, San Jose; Otto
Grunsky, Stockton; e. e. Mannheim. AL
fred Kutner. Fresno; c. NJ Cross, Han
ford; C. W. Putnam. Oroville, G. w.
Bush, Woodland; r. w. Hall, Vallejo;
J. B. Cory. Lodi; j. o. Hickman. Han
ford: C. s. Brooks. Marysville; Judd
Smith, Hanford; ]. D. Sherer, Ar
h-~s~,., ~ uahaft pVfuaayn~. % n