The sun. [volume] (New York [N.Y.]) 1833-1916, 1906-04-24

sent by the Wells Fargo Company yester-
day and other days since the earthquake
will not be known until conditions become
normal again and the rush of gold to the
Pacific coast is over. The ompany If not
anxious for publicity about its money ship
ments, and at its request banks say very
little concerning the amounts they send by
it. The day Of the train robber, Wells
Fargo folks believe, is not yet over, and the
temptation ia greater now than at any tune
when CALIFORNIA; mines were despatching
their golden harvest east. AS a matter OF
fact more gold is now going to California
these days than ever left there in the same
time in any year of the country's history:
All Wells Fargo express cars go forward
with extra messengers and an extra supply
Of firearms.
Up to a wear ago the Wells Fargo Com
pany conducted a bank in San Francisco.
Then the express business was separated
from the banking business, and the san
Francisco bank was incorporated as a ma
tiOnal bank together with a bank In Nevada
under the name OF the Wells Fargo Nevaaa
National. Under this name the bank began
doing business April 10, 1905. 1t had been
in business just three days over a year when
the earthquake came and put i out Inc
banking building is ruined, but wells largo
officials believe the vaults are intact. lhelr
wires have been so busy with other mes
saees that they have had little time to bring
information about the bank. It's condltlon
the men Interested in it in this city are quite
content to leave to the officials OF the lnstl-
tuition in California.
PROBLEMS OF ONE SITUATION,
The Treasury statement for Saturday
showed that the Government gold reserve
was not greatly in excess OF m,UD.
In connection with this, the question arose
as to how far Secretary Shaw would con
slider himself justified in giving deposits
Of Government money to California banks,
to the further depletion Of an already smal
reserve. 1t was taken as a matter OF cour7e
that the Secretary, in accordance WIN ms
statement Saturday, would extend all aid
to banks that was IN his power, but many
conservative banker contended that ne
could not well go very far in this direction
A savings bank in San Francisco has
1t was said in banking circles yesterday,
SIP. 600, 600 in Government bonds. These
bonds, it was believed, would be hypothe'
Gated for Government deposits, but whether
the Government would deposit more thar
this 4 10000 90 remained O matter OF grave
doubt to those who looked at the situation
closely.
A cable from London stated that 81 sos,
600 was taken from the Bank of England
Yesterday for New York account, but there
we're no bonds deposited at the Sub-TreaslrJ
on account of gold engagements and the
London report was accordingly, credlteG
to the engagements announced last weei
as forthcoming.
The remarkably heavy transactions OF
the Stock Exchange and the enormous
supply of stocks that appeared 10 be seek
ing market even in the face of a sharp tal
in prices was attributed to a considerable
! extent to liquidation on the part Of Ameri
can and foreign insurance companies.
Money was rather easy all day. Cal
money loaned at 81 to 81. Renewals wer
made at 5, Five per cent. was bid 10
ninety lays and four months time money
and So to 5Hl was quoted for six and min