The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1906-05-22
OPEN The BANKS.
San Francisco Savings Institu-
tiOns Resume Tomorrow.
This Is Five Days Sooner Than
Announced.
is QUIET.
Confidence ReIgns in
Banking Circles
Hibernia Gets Little Sum of
ThreeMilliOns for Emergencies.

San Francisco, May 22.=That abso-
lutte confidence reigns in banking
circles here was made evident today
when several savings institutions an~
nounced that they would open their
doors for business tomorrow morning.
This announcement came in the ma
ture of mild surprise, for it had
been definitely agreed that all savings
institutions would open their doors on
Monday, May %.
Many of the savings banks which
will commence active operations to-
morrow instead of five days later, as
had been agreed upon, give as a rea-
son for the early resumption of busi-
ness the fact that it is good for the
public as well as financial policy to
thus demonstrate to commercial
circles the stability of the institutions.
Others of the savings banks which
have decided upon an early opening
do a commercial business and the
claim is set up by them that they
could not consistently open up the
commercial department and refuse to
do business in the savings branch.
The agreement entered into among the
commercial banks sets tomorrow as
the date for opening
Among the savings institutions
which will resume operations tomor-
row are the Hibernia Savings bank,
the Humboldt Savings bank, the
Observation-Disclosures bank and the
German Savings bank.
The Hibernia Savings bank, one of
the largest institutions OF its kind in
the west, is structurally intact, al
though the interior furnishings were
destroyed by fire. It's vaults with
their double doors, each having eight
thicknesses of steel plate, were opened
readily the locks Immediately re-
spending Not only were the con-
tents uninjured, but the vaults were
cool, the heat of the raging furnace
which had surrounded them not being
able to penetrate the steel walls.
Last week the Hibernia had $1,000,000
taken from the mint and placed along
side the coin in it's vaults. Yesterday,
wishing to-be fulEE equipped for any
emergency that might arise, another
81 000. coo was transferred from the mint
to the bank buildings. The transfer
was made by the use of a sand brick
wagon and so quietly was 1t done that
hundreds of spectators who were watch
ing the building operations nearby were
unaware of the transaction. When the
bank opens tomorrow it Will probably
proceed to business without restrictions
and limitations and continue on that
line.
The corner of Montgomery and Mar
ket streets is now lively financial cen-
ter the activity being heightened by
the CrocBer- Woolworth National.
Among the other banks clustered in
this vicinity and ready for business are
the Wells Fargo Nevada National bank,
the Union Trust company, and the Say
ings Bank of the same name, the
French Savings and the Russo Chinese
bank.
Homer S. King. president of the Clear
ing House association, said: There IS
little demand for money and do not
think there Will be until the heavy
building begins Thus far our receipts
have much exceeded the Withdrawals .
That conditions are rapidly approach
ing the normal in financial circles was
indicated by the holding Of a regular
clearing yesterday in the new quarters
of the clearing house in the Mercantile
Trust building.