Year: 1875




Further transfer of coin from the Sub Treasury at San
Francisco to banks in that city aud State through the
New York sub-Treasury has ceased The amount of
coin in the hands of the Assistant Treasurer IN San
Francisco is only adequate the demands of the bullion
fund, and whatever sympathy the Secretary of the
Treasury has for the embarrassed community ho is
obliged to serve "Unclc SAM first. The temporary
suspension in this connection of the National Gold
Bank and Trust Company of San Francisco with the
inquiry into its sovency going on raises an i'm
portant question in every business community and
every national bank. The bank it is admitted, may
have voluntarily closed its DOORS but not to go into
lquidation and, after careful examination of its
assets and liabilities, may be- reported perfectly
solvent Can the Comptroller of Currency
then permit II to resume businessP This ques-
tion the Acting Comptroller to-day said was novel to
the bureau the nearest approach having Becn during
the panic 1s73 when the Chicago banks proposed TO
temporarily suspend Tho matter had here additional
interest to-day growing out of reports from Baltimore
that several of the leading national banks Of that city
might experience temporary difficulty account of
the failure of Stirling, Ahrens & Co. Until the report
of the San Francisco Bank is received official ex-
preston of opinion will be given, and perhaps then
until the notes of the bank presented for payment
under protest, from the officers of the bank


~ b Langford, National Bank Examiner for the
Pacific Coast has been directed by the Comptroller of
the Currency to proceed to San Francisco to examine
into the affairs of the National Gold Bank and Trust
Company.


OPINIONS PRESS


The democratic organ in this city, the Examiner re-
fcrring oditoriay TO the efforts Of several oring"
journals to charge certain independent newspapers
with responsibility for the financial trouble by
their criticisms Of tho course and conduct of Mr. Raj
ston, says


awe do not believe these assaults ON Mr. Ralston
and his contemplated schemes caused the suspension of
the Bank of California That concern was wrongly
conducted and 1t reached the conclusion which bcfas
all missmanagcd institutions Of like character But if
the Journals named justly chargcable with tho sus
pension Of the bank they deserve credit therefor The
rottcnncss Of its condition could not be exposed too
While sympathize with the losers by its
failure IL is better for the public that the crash should
before hundreds OF others of our fellow citizens
became involved in ruin.


Tho San Francisco commercial correspondent of tho
Sacramento Record Union, well known writer and one
who has heretofore taken pretty favorable view of all
the movements made by the managers Of tho Bank of
California, makes the following significant statement
which the Bulletin reprints Meantime the invcstiaa
tion by the trustees into the affairs of the COLLAPSED
bank has proceeded and new facts have gradually
become known that create good deal Of anxiety TO re-
ceivc the forthcoming report and know the worst IL
can be stated that the condition of the banks affairs is
far worse than dreamed Of and that the Executive Com
mittcc Of the Board os Trustees whose duty IL is to
verify the monthly exhibit of the managers has been
systematically deceived for time past These
monthly exhibits have failed to detail tho true
state Of accounting Even II the statements
that are made in well informed circles as to
improper entries upon the books and important obga
tons incurred but not entered at ALL and overssucs Of
capital stock for purposes Of hypothccatng should ut
mately be qualified, the fact will remain that at tho