The sun. [volume] (New York [N.Y.]) 1833-1916, 1906-05-06

WV N"HNN |NNNN' y w
wigs nfuts WI NeNueu nv fgrdst
0settgt tt. Vsv WEN No com
esliies W rrifers aui rs .yllv M Hnante
e5amiiiet trfeiitr wv r%prernment AZ
~ fof Tho f.fnrliiuu ~ e svndicste ~ help
sha tfv fsfuIl No IHutsfs have cnme 1ut
on hstfoHirt for u.lersudHHrs They
hslleve that fbe aIiy SsN 10 fshnii 9th
bans htnds sfs.ssst Nv 'hs Investments
N sIeh 1utltis asriftiis's Hs 'bsv can
attract. tnd ih4' . trtefnmenf atRfsn'ee
~ . rfeai munirin1i Ivan is np' neeiief
Tbs Eaf Tf4nrisrn tlrtfiNe Honse haa
esegessed this In . formal declaration. rsft
~ wbich Ia No fol1wa
Thu COMMITTEES fcsis that NE business
Interests ~ sieh do no' nsed charity "
ed them IN tehuildine me city With ttko
o4,np NJ more ~ 49, feccivsd from Insurance
cbmpanlns mo hanks In = solvent condition.,
b6tntifil harvssis In no state and general
underlying business sr'ind further financial
heip should b. Iooked for only On
strictly business principles
In other words, since Insurance. In.
demnity will largely replace ne destroyed
buiIdinRs. ~ vol ~ The stocks NJ mer.
ehandlae. and our banks viii he able ~
mes, general requirements, individuals or
institutions Who NAV come to find " neces-
cary or expedlent TO apply to outside sources
for aid should do so Ne occasion may arise
on the usual basis 81 good security. We
oannot rebuild In q dsv and shall shortly
have more money which can ha imme.
diately used.
Money in great volumes IL already he
ing forwarded here by the Insurance COM
e..ta. - ~ I#utt1l GHataa md Ettrapa
10 pay the immenaa losses which they will
have 10 stand.
MANY Of the companies have decided
10 reimburse their clients with spot cash at
their Offices or with drafts az good a. coin
here. and thus avoid the delay that would
ensue II bills Of exchange were issued on
Eastern or foreign money centres"
The directors Of the Wells Fargo-Nevada
National Bank and the directors Of the
Union Trust Company nave decided not TO
call In their loans and not 10 raise their
rates of interest above the low rates current
just before April Is. The National Bank
of Chicago has telegraphed an offer TO
President I. ". Hellman of the Wells Fargo
to lend his institution 81 ,o0o.0 900. Mr..
Hellman replied, thanking the Chicago
bank, but saying that the firm did not need
the money.
The whole banking situation IL bright. !
On Monday the savings banks will open
for a partial business. The commercial
banks are doing a good deal of business.
Withdrawals on the $500 plan are tightening
and deposits are flowing in. To come OF
the banks enough coin has been trans.
ferred from the Mint 10 enable them TO
pay OF themselves the promissory notes
= - - H.
who are withdrawing money for temporary
needs just low, There was a report yes
terday that some OF them we're oashing
checks. This led to a declaration from
the Clearing House that any firm caught
In this business would be expelled.
As o as the vaults can be opened
most Of the banks will move to little shacks
close at hand, Later they will take up
the question Of rebuilding-few OF them
will move.
The question Of the date for reopening
came up before the Clearing House yester-
day morning. Some Of the bankers are
impatient TO get at Il. 1t was made plain,
however. that all could not open their vaults
and get ready for business before a week
ut least, and in this case the slow will hold
back the fast. The more conservative
members thought that 1t would take three
weeks.
One of those little quakes which must Of
necessity continue for some time to shake
In the trail Of the great tremhler shook up
the city at half past 10 this morning. They
are nerve racking things in these days:
a month ago such a little quake as this
would have been only a thing for a little
gossip.
This one got itself noticed because 1t
threw down the lettering wall of the Pacific
Mutual Life Insurance Building and some OF
che interior walls Of tho ruined Municipal
Building. The Pacific Mutual wall nearly
caught a gang of workmen. The work.
men all along Montgomery street quit and
ran to clear land. One Of them threw up
his job when the boss ordered him back.
"I'm going to get out of this country
before they begin running steamboats, up
Montgomery street, " he said.
The citizens committee Of fifty, which
has virtually had control of the city gov
eminent ever since the earthquake day.
has about ended its usefulness and will
probably be discharged In a few days
MANY of the sub-committees have put
affairs into such shape that the work may
now be handed over TO the regular au-
10 tDe sOlOltlH, VI " private WI
porations. !
The committees on water, lighting, tele-
phone service and transportation have been
d~ishanded and their work has been turned
over TO the companies having control Of
commodities. The companies will
now deal with the regular city authorities
instead Of the Committee Of Fifty.
The military authorities and the Red
Cross are handling the feeding Of the hun
ary,and the resumption Of business, TO getber
with the order that able bodied men must
or get no supplies, has lessened their
work In this respect, The relief work goes
very smoothly. In the district south Of
Market along the. waterfrontthere has been
come distress -"Staa.l T.
The committee took notice OF this yes
terday. and to-day Marshal Shine took
command there and Strengthened things
out. They are still alittle short on shelter
there, but at least they are fed and enough
shelter will be. furnished in a few days.
This was the last district in which there
was any considerable distress,
Contractors hove been making estimates
on the amount Of rubbish which will have
TO be removed from the burned district.