Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1906-05-07
MANY SAFES DID NOT PROTECT
Out of SIG Opened Some Forty Per
Cent Held Only Ashes.

San Francisco. May Ga large proper
ton, if not majority Of the business
men who were thankful during the fIrt
that their ValuableS were enclosed m ire
proof vaults, have Weakened 10 an un-
pleasant surprise. Within the last seven
ty-tWo hours the safes ana vaults have
been opened in the district east Of Powell
and north of Market streets, and i'll not
more than sixty per cent. OF these m
stances We're the contents found intact.
In many cases pile OF ashes represented
thousands Of dollars worth Of accounts.
Payment of promissorv notes limited to
$50 to relieve the pressing needs of de
POSTERS, gees on at til" mint. Although
there is a line of men waiting before tie
cashiers window all day, after all there
is less crUWding and less demand for
ready money than the bankers expected.
Superintendent Leach is doing the best h.
can with Il limited force ard much crowd
bank. also houses the Selby Smelling
Works and the Clearing House The lat
ter institution is trying to arrange some
plan whereby customers may deposit
MONEY before the regular resumption Of
business. Since perint-ndent Leach
received permission to relieve the banks.
he las paid out about a million dollars, a
day from the $301.GV1,nG which was in tn
vaults when the storm broke. This has
Just " p,rc"ptible effect in the amount Of
money i'll circulation Everything is be
ing done to facilitate the resumption Of
business. The first turn Of the wheels OF
commerce was slow and without jar. As
the days 60 by the machinery may be
expected to move with increasing ease
aud rapiditv. But il will be very slow,
for the fire has certainly destroyed many
papers the vaults must remain sealed for
some time and the legal holidays haV..
complicated things.
There ar, too many ramiicatinns Ia The
banking situation for amy one man to
cnumcrate. The real trouble, after all.
lies in the blanks. forms ana account
books now locked mp III til" cooling
vaults. On n pinch the banks could geI
enough money from the mint to begin
paying in full; but they want their books.
Tn" bankers ar" rot pleased with the
SlOWEcSS of the Insurance companies, and
they insist that the liquidation Of insur-
ance IS essential to = proper beEinning of
the banks ar" housed now in private resi-
dcnc"S in Laguna. bctaVia and Pacific
streets. jlISt west of the fire boundary in
the residence district.
Tn" commercial banks belonging to the
Clearing House Association nave ar
ranged to open for new or special bust
| ness. The arrangement is To receive all
deposits that customers may desire tn
may check out these new balances with
| out II strCtion Or limit. The plan was
successfully adopted in Oakland ard 9TH
or parts Of Alameda County.
| Tho bankers feel that outside assistance
is going to be needed to restore fully the
| finances of San Francisco. At the meet
| ing yesterday n committee of two was
| appointed to urge ut Washington the
| support Of national banks for the project
| for financing tn" rebuilding of the city
| l.. H. Hartman. who attended the meet
| ing. said that he personally would adj
| vance $4,000 600 for the rebuilding of tho
| city.