The Hawaiian star. [volume] (Honolulu [Oahu]) 1893-1912, 1906-10-06
Progress In
San Francisco

S.
dredge President Of the National Of the Pacific The circular il
an analysis from the stand point of bank caranc and the general
evidence furnished by the banking situation.
In the course Of this circular Mr. Eldredge says:
Twice within the past four weeks occupied
the sixth place the clearing house of the States
ing exceeded the volume of cengs of the city of Pburg for the
week ending August 18th and that ending September 9Th.
Following IS the business the clearing house for the past
months compared with those OF the corresponding months last year:
April o6.$Io784z59I. 81 April $685.. S48828672.4
June 1900; 1326o55544S June 14898o164 A
July I9o6. 1032682o4 40 July I9o5.... I477o6958 20
Aug 1000 18846569o49 Aug. 19o5.... 1921 400 y
This the story Of business conditions San Francisco may
be said that the large eangs due to the great paid
insurance companies for losses the city That the pay
mns have an influence on the carngs undoube but the que
ton IS how much The great volume of insurance payments have
been made by draft the home office of the companies New
hee are RENTED direct by the banks receiving them and
While the records of the California Promotion show III
permanent buildings under construction of them the
stage and active building operations hardly
SAID to have yet begun The money therefore still banks and
statement of the national banks comptroller of the crrenc,
m % OF september 4h shows an increase of individual deposits
OF 428ooo over the last call of June 18th Allowing same ratio
OF increase to the State banks the increase about S2
great part OF the money has thus remained in the banks
awaiting active building operations estimated that San Franz
cisco banks had invested $3ooooOOo in time paper York
insurance companies had at risk the burned district of San
Francisco something like $25ooooOoo allowance of TO per cent
20 | or qzz5oooooo Some companies full others not
at an but most companies pay something Conservative and we'll
informed men have estimated tina per insurance money
% De P say $l55ooooo About $IooooooOo of this has beer
"The following financial history may be of interest The fire which
SWEPT m CITY on those tateul April days put its hot seal every
bank vault Warned by the bankers of Baltimore that would be un
"N vaults uuer three weeks the date of
meeting OF the San Francisco Clearing Association was called
Tor APr 23d to devise and relieve the distressed
people who had lost homes business and all and money
buy the commonest necessities of life few DAYS following the
re all stores and stocks of provisions held by the military but
IN week the martial grip loosend who had money
could buy what little there to SELL AT this first meeting of the
Ceag House measure adopted for the the dposiors
OF the bank which, when worked provided establishment OF
union bank at the United States Mint permission of the
secretary OF the treasury which could be transferred from New
York through the subreaury such might be required Each
bank looked after its deposor and permitted to advance
hin such sums as might be total of $500 each case
The scheme worked we'll The manager of the Clearing House
bank as was called opened of books credited each of the
seventeen members with its deposit The of each bank signed
across the face of the deposo checks reques to e clearing