The San Francisco call., 1906-05-10
P. N. Lilienthal Says They
VIII Help to Re-
build.
Look Over the Field, De.
string investments on
Large Scale.
Courage OF San Francisco
kStOniSheS New
Workers.

P n Lilienthal, manager OF the
Anglo-CalifOrnian Bank, who has just
returned from New York after an alb
sence or four weeks from the city, was
seen Tuesday at the temporary
headquarters of the bank, located in
MS residence, at the corner Of Frank
lin and Clay streets. and said OF the
situation:
Immediately upon the news of the
disaster that has befallen San Fran
cisco reaching New York some bank
ers OF the Eastern metropolis sent for
me and asked what could be done to
assist San Francisco in the hour OF
/ its distress. 1 told them that, in my
opinion, San Francisco will be able 20
weather the storm. and that It was
/ too early TO estimate the loss or the
extent of assistance. If any, that might
! be needed from the outside. The bank
ers told me that two able financiers,
representing the moneyed interests Of
! New York. were going to start at once
for San Francisco in order to be on the
field and TO ascertain what money was
needed to rebuild the city and what
chance there was to invest Eastern
capital They also told me that within
a very short time almost every bank
inng institution OF New York would
have its own representatives in San
Francisco for the purpose Of looking
over the field and to report the
chances for judicious and profitable
investment.
TOO MUCH MONEY IN BANKS.
zone OF the leading bankers of New
York asked me what the condition OF
the San Francisco banks was When
l told him how much money the banks
held here, the surplus and reserve
funds they had. he said that he con-
sidered it absolutely criminal to have
so much money on hand.
The courage, the bravery, the o2-
timism and the energy evinced by the
people of San F.4ncisco have aston
ished the East and have gained for
San Francisco the utmost admiration
and viii naturally have a tendency to
| strengthen the faith Of the Eastern
people In the future of San Francisco.
The New Workers firmly believe that
San Francisco will be rebuilt in the
shortest time possible and will be a
greater and better and wealthier city
than before. Quite a number of East
erners were on the same train on
which I came. When they saw the
activity in tie clearing away of
debris and temporary structures 60
ing up they were full OF praise of
Western courage and pluck and wired
East that the rebuilding OF the city
has already commenced and is pro-
crossing very rapidly.
NO SURPLUS IN NEW YORK.
while the country has beeen very
prosperous ana money has been abun-
dant, just at present there is no
great surplus OF ready cash or idle
capital in New York. The Russian
loan and several other loans that have
been recently negotiated have taken
up all the idle money OF the great cap
italists of the Eastern money centers.
1t viii take but very short time for
these matters TO be adjusted, and cap
ital Will be ample for investment in
San Francisco. I found in conversing
with wealthy New Yorkers that they
believe I'm the future OF San Fran
cisco and consider investment in Cali
fornia as safe and more profitable than
anywhere else.
1.-The crop prospects are excellent,
and II they continue so until harvest
# will bring vast amounts OF wealth
into California The tnterior-and,
mind you, that does not apply TO Cal
fornia alone, but includes all OF the
Pacific Coast-instead OF calling on the
banks for money deposited, has Of
fered additional money in case 1t is
wanted. The local banks have ample
funds, although business is hampered
at present owing to the fact that the
vaults cannot be opened and bankers
cannot reach their books and accounts.
These matters will be adjusted.
'As soon as the banks open for reg
ular business. which will be very soon,
and pay out money to their patrons
building operations and business will
commence, money will circulate free
ly and San Francisco VIII become very
active and more prospercua than ~vsr -