The San Francisco call., 1907-06-30

so far as the financial situation Is
concerned I will be ready to resume
business on July s, the day that the va
cation of the San Francisco stock and
exchange board is over"
This was the cheerful message that
Kenneth Donnellan gave out to his
creditors and to the press yesterday.
"I have had accountants working
over the books" Donnellan added, "and
I find that my assets will largely ex-
ceed nv liabilities. The figures are not
complete and 1 shall not give out any
financial statement, having ascertained
that 1 will be able to pay every one in
full. More than that, will be able to
pay all creditors next week.
This was good news to the brokers
in Bush street and put them in as good
humor as did the hilarity that attended
the beginning of the vacation, which
started at noon yesterday. The an
nouncement by Donnellan was made to
the brokers In the morning. Before
the board closed Nat Boas appeared in
the boardroom and amid the proceed
ings of both the stock and exchange
board and those of the California oil
exchange, which meets in the same
room, let off strings of big firecrackers.
Joe King, the caller. of both boards,
Ioomed UP sternly on the Boas horizon
at this infraction of the peace of the
brokers and violation of the city or
dinance regarding the discharge of fire.
crackers in the city limits prior to July
4, and his strong voice punctuated the
pauses between the explosions of fire
crackers with the words, "BoaS is fined
ST." There were so many fines imposed
on Boas in a few minutes that they
numbered about one for each hrecrack-
er. When the smoke cleared King re-
The brokers whooped and cheered and
were satisfied that they had given the
fourth of July proper send off as a
part of their antevacation duty.
Inquiry was made in Bush street Of
fees yesterday afternoon as to whether
any other brokers were affected by the
DonneHan suspension. There is still an
Understanding that three or possibly
four brokers are not cleared up on
their short selling entirely, but no one
is seemingly involved to any large
amount as a creditor of Donnellan &
Co At the banks it was said that the
firm owes small amount to the Anglo
Californian bank, but that the sum Is
covered The principal creditors are
San Francisco brokers. Donnellan says
that he will be able to settle without
making all his collections, but he ex-
poets to be able to collect easily. now
that the 1aCIS are KNOWN, as SeVeTdl
creditors came in voluntarily yesterday
to his offices in California street and
paid in full No claims were filed yes
terday in the San Francisco stock and
exchange board, Of which Donnellan is
a member. None will be filed during
the coming week, as the board is on
vacation and the members are prac-
tically all out of town.
1t is said by bankers that there is
little chance that any bank VIII lose
any amount by mining stock trans
actions. All or nearly all the banks
take mining stocks now for collection,
but do not loan on them largely as
securities. The general conditions and
possibly>the Sullivan trust company af-
fair led to that rule. One banker said
that the organization of companies in
all parts of the country to handle
Nevada mines and to deal in their
shares and the failure of the stock
brokers to establish clearing houses
up to date, made so much of delay In the
transmission of purchased stocks and
the accompanying drafts that a con-
servative rule had been adopted.
The pressure is stronger now to have
facilities of the mining stock business
than it has been at any previous time.
Possibly Inc San Francisco stock and
exchange board will. take this matter
up directly after vacation and press it
to an issue. Much consideration has
been given to the subject already and
the governors of the San Francisco
stock and exchange board are ready to