The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1906-05-23
Confidence Has Been Restored
in Financial Circles of the
Stricken City.
DEPOSITS ARE ALREADY
EXCEEDING WITHDRAWALS
Big Vaults That Went Through
Fire Are Opened: Found
Intact.

SAN FRANCISCO, May 22.-That alb
solute confidence reigns In banking cir
cles here was made evident today when
several savings institutions announced
that they would open their doors for
business tomorrow morning. This an
louncement came In the nature of
mild surprise. for it had been definitely
agreed that all savings institutions
would open their doors on Monday
May rs
Will Not Hesitate.
Many of the savings banks which will
commence operations tomorrow, instead
OF five days later as had been agreed
upon, give as a reason for the early
resumption of business the fact that
it is good public as we'll as financial
policy to thus demonstrate to CONNER
cial circles the stability of the ipsu-
tutions. Others of the savings banks.
which have decided upon an early
opening. do commercial business and
the claim is set up by them that they
could rot consistently open up the COM
mercial department and refuse to do
business IN the savings branch. The
ynerCial banks sets tomorrow as ehc
cate for opening.
Savings Banks Ready.
Among the savings institutions which
VIII resume operations tomorrow are
the Hibernia Savings bank. the Hum
Eoldt Savings bank. the Scandinavian
American bank and the German Saw
ings bank.
The Hlbernia Savings bank. one of
the largest institutions of It's kind In
the West, is structurally intact al
though tie interior furnishings were
destroyed by FIRE Its vaults, with their
double doors, each having eight thick
nesses Of steel plate. were opened read
.ly. the locks Immediately responding
Not only were the contents unin1ured,
hut the vaults were cool, the neat of
The roaring furnace which had sur
rounded them not being able to pene-
trate the steel walls.
Gathering in the Coin.
Lest week the Hibernla had 81 900 coo
taken from the mint and placed along
side the coin In its vaults Yesterday,
wishing to be fully equipped for any
emergency that might arise, another
81, ,000 900 was transferred from the mint
to the banks building, The transfer
WAS made by the use of a sand and
brick wagon and SO quietly was II done
that hundreds Of spectators who were
watching the building operations near
by were unaware of the transaction,
When the bank opens tomorrow 1t Will
probably proceed TO business without
restrictions and limitations. and con-
tinue on that line.
New Financial Center.
The corner of Montgomery and Mar
ket streets is now a lively financial
center, the activity being heightened by
the Crocker = Woolworth National.
among the other banks clustered In
this vicinity and ready for business are
the Wells Fargo Nevada National
| hank, the Union Trust company and
| the savings bank of the same name,
the French Savings bank and TIE Rus
| So Chirese bank.
Homer S King, president of the
| Clearing House association said:
Not Many Withdrawals.
There Is little demand for money,
| and | DO not think there will be until
| the heavy building begins Thus far
| our receipts nave much exceeded the
| Withdrawals"
That conditions are rapidly approach
| ing tho 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.