The sun. [volume] (New York [N.Y.]) 1833-1916, 1906-04-24
FILLING UP FRISCO BANKS.
NEW YORK SENT SOME $4,000, 600
WEST yesterday.

More Than Half by Telesraph-send Money.
Money, Says Every San Francisco
Bank-More Gold Going There Than
Ever Came Out In the Same Time in
the Golden Days.
New York bankers yesterday sent 81 1885,
600 to correspondents in San Francisco
through the Sub-Treasury. Probably for
San Francisco account 500 900 went by
the same channel to New Orleans and 5000 1000
to Chicago, In addition very large ship
ments were made through the Wells Fargo
company. Altogether moro h $3,ooo'oOo
must have left this city for San Francisco
and other California cities.
Financial conditions on the Coast and
the effect Of those conditions upon the
general monetary situation were the prin-
cipal matters Of concern for all New York
bankers yesterday. Several Of the leading
banks were unable to secure advices from
their correspondents with the exception
of requests for funds. Some heard moth
ing at all, although they had sent kilograms
asking for information. Others. pr1nci-
pally through the good Offices Of the Union
Pacific system, which offered its wires to
the Use of several banks, were able to OBJ
tain a very good idea of the situation.
The National Bank of Commerce received
about fifty messages from California cor
respondents. Every one OF them con-
tanned a request for funds and the wishes
Of all were answered. Altogether that in
s~titution sent through the Sub-Treasury
$780, 900 and through Wells Fargo Il Co. a
large amount more. The money went to
a large number Of institutions outside OF
San Francisco and within it.
The one particular idea impressed by
all the dispatches" said a well known
banker, as that they need money out there.
We can't do business until we get funds
they say over and over again, and these
statements emphasize the proposition that
they are unable TO reach their vaults or
touch their securities and will be unable to
do so for several days"
Bankers recalled the lesson Of the Balti-
more fire. After that event many bankers
opened their safe deposit vaults and the
regular bank vaults too soon with the re-
suit hat securities crumbled before their
eyes. a back draught helping to reduce them
to powder. That lesson, it was said. would
deter San Fra ncisco bankers from opening
their vaults until they we're thoroughly
cooled.
1t was the opinion Of the New York
bankers that Gov. Pardee should continue
proclaiming legal holidays until the banks
are all in condition to do business. Many
of them advocated an extension Of legal
holidays for thirty days. This would be
none too long a time to furnish an extension
of credit to people in such a plight as those
In San Francisco, it was said, and it would
be a proper p~recaution against dishonesty.
Probably no one who expects to do
business in San Francisco again would
seek to AVOID meeting an Endorsement be.
cause the bank failed to serve a notice OF
presentation and protest :" said one banker,
"but there would very likely be scattering
cases of this kind The only way to avoid
it is for the Governor to continue making
protests unnecessary by, making every
dav a holiday until ali the banks are In
shape for business,
Advices from California We're all to the
eff ect that banker there believed that
Gov. Pardee would assist them in making
impossible the reputation of just debts.
Apart from requests for money the de-
spatches from San Francisco laid the most
stress upon this phase of the situation.
Probably the first ank TO re'tart business
will be the American National Bank of San
Francisco. P. +. Bowles, who is president
oil tnaI INSTITUTION, - AIS pltSIbtllN VI NHS
First National Bank Of Oakland. This
connection will enable him. as soon as he
takes out of the Sub-Treasury the money
despatched for his San Francisco bank
to open it for business in connection with
the Oakland concern. Meanwhile the Oak.
land Bank, through the Chase National
Bank of his city, is putting out large
amounts of money! Word was expected at
the Chase National Yesterday concerning
the opening of the American National for
temporary business at Oakland II Is prob
abie hatEdespatches had been filed, but
none reached the New York institution.
Shortly before his departure for San
Francisco YESTERDAY morning William h
Crocker received a despatch saying that
the Crocker- building on the
first foor Of which is situated the large
Crocker-Woolworth Bank, was badly Gam
aged on the upper floors, but was not greatly
harmed on the lower floors. As in the case
Of other banks, it will not be advisable
TO open this banks vaults for several days,
but repairs can he made meanwhile and
there seems to be every prospect that
the bank will be open for business with A
large cash reserve and ordinary facilities
in good order by the early part of next
week.
The First National Bank Of this city is
the New York CORES ondent of the Croker
Woolworth. as we'll as Of several other
banks in San Francisco. The First Ma
tional sent considerable sums yesterday
both through the Sub-Treasury and by
express. an though its officers did not
care to state how much was sent or fol
whom. it lie practically certain that the
Crocker-Woolworth was the consignee OF
the larger part
Just how much currency and bullion was