The San Francisco call., 1909-01-18
GOOD NFWSFOR
DEPOSITORS OF
DEFUNCT BANK
Rise in Western Pacific VIII
Swell California Safe
Deposit Dividend
Increase in the Value of Shares
Adds 100000 TO the
Assets
Creditors May Receive a Much
Larger Sum Than e
Cents on Dollar

Nearly $500, 600 has been added TO the
assets OF the California safe deposit and
trust company in the last few weeks
through The sudden rise in the value of
the shares Of the Western Pacific rail
way company.
The depositors of the defunct institu-
tion. who did not expect TO realize more
than % cents on the dollar for their
claims. may now expect. should West
ern Pacific continue to rise, a much
greater dividend.
Receiver E. J. lie Breton is authority
for the statement that Western Pacific
has taken a sudden rise and that the de-
positors viii benefit by the advance in
the market price Of the stock. He said
yesterday that he had received several
hattering offers for the Western Pacific
stock of the bank, but that he had de-
clined ali offers for the present.
The California safe deposit and trust
company was the owner of $4,000 shares
OF Western Pacific at the time the bank
went into liquidation. It was also the
holder Of 1900 shares as security on
various loans, $4,000 shares in all.
HOLDS STOCK FOR RISE
lie Breton listed the stock at IS a
share and placed it in the deposit vaults
OF the company TO await a reasonable
offer The stock fuctuated and at one
time during the panic was quoted at so
cents since that time the stock has
slowly but steadily increased in value.
until now il has a market value Of
about SO a share The last quotation
from New York was a bid Of SIG a
share.
Western Pacific is not yet in con-
dition to earn any money" said lie Bre-
ton yesterday. When I took charge Of
the bank the stock had practically no
value it was listed on the books at
S35 a share but I relisted IL at IS. Since
that time / have had many offers. but
have refused TO sell at any price. The
last quotation from the east was sig
share. but 1 don't think / shall sell or
recommend a sale at that price
why. that railroad company viii be
in a position in less than q year to earn
sufficient money 10 keep up the interest
on its bonded Indebtedness, pay it's run
ming expenses and start a sinking fund
When a railroad progresses that far
the stock is bound to go up. I think
that Western Pacific viii be selling at
close TO 5000 a share in two years from
now.
HARTMAN MAY BE BUYER
Asked as TO who had made the offers
for the stock, lie Breton said that he
did not know who was the man behind
the broker He continued.
T only know that several good offers
have been made 10 me- but 1 don't know
who made them They came 10 me sec
Ond hand At any rate ] do not intend
10 sell until 7 have a better offer, not
saying that this offer was not good It
is good. considering the present condi-
tons
just who is after the stock is a mat
ter Of conjecture at the present time
II is understood that Hartman and
Gouid have entered into a working
agreement, but il is not known def
nitely whether the railroad wizard"
has secured an interest in Western Pa
cihc OF not II is surmised. however,
that Hartman has purchased a large
block Of the outstanding stock of the
corporation and that he may be after
more in order 10 be in a condition to
make 4 fight IN case of a battle for the
control
According TO the statement of the re-
ceiver made TO the bank commissioners
in December last the depositors may ex-
pect a dividend of 10 per cent about the
middle Of February, and he will apply
10 the superior court this week for per-
mission 10 pay such a dividend.