Los Angeles herald., 1907-12-24
HOLIDAYS END; BANKS
ARE IN GOOD CONDITION
Ry As.ociated Prose.

SAN FRANCISCO, Dec. 23--The
period of legal holidays declared by
Governor Gillett to meet the recent
financial stringency having expired at
midnight last Saturday all OF the lead
ing banks transacted business as usual
today Normal conditions prevailed,
and there was no run nor crush of peo-
pl ) anywhere.
Many deposits were made, and the
withdrawaI Of funds did not exceed the
ar ,unt customary during days busi-
ness Clearing house certificates con-
finued in circulation. but when coin
was required 1t was readily obtainable.
The principal bankers unite in declar-
ing that the financial trouble, which
for q time caused some Inconvenience,
is a thing of the past.
'-rhe public seems perfectly quiet
and CALM said r. M. Tobin of the
Hibernia Savings bank, the largest saw
ings institution in the city.
I'VE are doing the usual Christmas
business to enable the depositors to
make their holiday purchases. Beyond
that there are practically no requests
for Withdrawals. Any Withdrawals
made at present mean the loss Of six
months interest. The situation so far
as the savings banks are concerned is
excellent. We are not even enforcing
the rule OF requiring notices of thirty
to ninety days and such notices as were
given during the holidays have practi-
cally all been cancelled"
Certificates were generally accepted
and in only a few instances was coin
demanded and insisted upon.
The savings banks have the protec-
tion of from thirty to ninety days no.
tice required for Withdrawals. Beyond
the drawing of small sums with which
to make Christmas purchases there
were few requests for Withdrawals
from the savings banks.
Irving s. Moulton, cashier of the
Bank OF California, said:
Business today is normal. have
not noticed any differences between
today and any Monday during the past
three weeks.
$50 far as this bank is concerned 1t
has met all demands made upon it for
several weeks"
Little Demand for Coin
There has been little or no demand
from country banks for shipments Of
coin, which indicates that they are in
good shape to take care OF their busf-
ness said Cashier King of the Wells
Fargo Nevada National bank. I. w.
Hellman. jr., vice president and man
ager OF the Union Trust company, de :
cIared that today was the duietest Mon
day his institution had experienced for
several weeks.
e. w. Wilson, vice president of the
american National bank said:
Business today is about the same
With us as on any Monday during the
past month, with a possible improve
nent AS matter of fact the balances
OF the clients of nearly all the banks
have been growing smaller since the
holidays were declared because of the
inability OF merchants and others to
make collections I think the financial
situation in this city would have been
he ter had the holidays been declared
off three weeks ago"
At the First Nationau bank 1t was
stated that owing to the scarcity OF
gold certificates would continue In cir
culation for some weeks yet, but thai
the smaller denominations were beinq
rapidly retired. Demands for money
were met with half coin and half in
certificates.
Clearing House association in an inter.
view said:
There is no excitement and no un.
easiness. Business Is going along Just
as II has been going on for the pasi
month. Patrons who need gold are
getting it and nave been getting 1t fol
three weeks. II we think the appli-
cants want to hoard IT they do not gel
IT, Whenever there is a need for go1t
we supply 1t,
When asked as to what action woulc
be taken in regard to the. retirement OF
clearing house certificates President
King said:
1--WE are retiring the certificate,
gradually. but II VIII take some time
Just how long can't say. No NOR,
cerEifcates are being issued The tota
amount in circulation is about s5
O00. 600. Everybody realizes that the.
acceptance
@The clearances today" he said