The White Pine news. [volume] (Ely, Nev.) 1906-1910, 1907-11-29
FLOWS
THIS WAY
San Francisco Banks Re-
ceive Large Consien-
mentS of Coin.
READY FOR ALL CALLS
At End of Holiday SeasOn...Distribu.
ton of Money to interior Banks
Has EaSed.

SAN FRANCISCO, Nov. IS
Money is again flowing into San
Francisco The quantities of coin
coming this way are considerable and
this city is once more becoming the
great money center of the Pacific
coast in fact as we'll as in name.
While some of the banks still find the
interior banks somewhat of a drain
on their resources, one leading finan-
cial institution yesterday reported
the receipt of 100000 from country
banks
Some of the banks have a great
deal of money botn here and in New
York and will be prepared TO resume
business on Il normal basis whenever
the holiday season for banks shall
have been brought to a close. Among
the reasons why the banks have been
so conservative in the circulation of
gold is that they are preparing to
meet large tax payments when they
shall become due. Owing to the tie
up in New York of some big balances
of the San Francisco banks, the local
institutions have been obliged to eX-
ercise unusual financial skill in order
to be able TO meet all emergencies
Then, too, the banks in the clearing
house have been obliged to exercise
some foresight in order to have sufIi-
cient coin on hand to redeem all the
certificates of deposit issued by that
association when il shall he decided
to call them in.
A leading banker who had been
commenting on the improved condi-
tionS was asked: How and why is
the situation better?" To which the
financier made the direct and CON
vincing reply: Because there is
more money in circulation. The
banker added: In my opinion the
worst is over and unless the unfore-
seen happens it will be but short
time until normal financial condi-
tions prevail.
New York transfers aggregating
$4,000 were received at the sub
treasury yesterday for local banks.
There We're six subscriptions to
treasury certificates of Indebtedness
calling for $500 in the aggregate
Customs house receipts from du-
ties for the day amounted To $23,-
719.
Bank Commissioners Garoutte and
~ MN h'lh f'I ihlol tolltltlltt
yesterday with Attorney General
Webb, the law officer of the state.
Today Commissioners Silver and
Sherrer are expected to arrive here
from Los Angeles, and an important
meeting of the bank examiners will
be held. There are many questions
of interest to the financial world to
be considered, and if possible deter
mined. The commissioners in the
north are not so thoroughly in touch
as are their associates, and the same
applies to the information the mem
bers from the south have in respect
to the status in the northern part of
the state. The commissioners desire
to compare notes and exchange views.
Among the matters that will be
considered is the California Safe De-
post and Trust company. That in
stitution closed its doors the day
preceding the holidays and the bank
commissioners took charge of its al
fairs. While there is no question as
to the authority of the commissioners
to proceed as they have, inclusive of
their continuing to keep the bank in
their charge during the holidays. it
is desired to determine upon plan
OF action when the holidays are at
an end.