1000. Anglo California Bank (San Francisco, CA)

Bank Information

Episode Type: Run Only
Bank Type: state
Start Date: August 27, 1875
Location: San Francisco, California (37.780, -122.419)

Metadata

Model: gpt-5-mini
Short Digest: f2c64f87

Response Measures

Borrowed from banks or large institutions, Public signal of financial health

Description

Contemporary reports describe only a slight run on the Anglo-California Bank at its opening on Aug. 27, 1875 that soon subsided. Other banks (Bank of California, National Gold Bank, Merchants' Exchange) suspended or failed, and those failures appear to have triggered runs on several institutions; the Anglo-California did not suspend and remained open.

Events (1)

1. August 27, 1875 Run

Cause: Local Banks
Cause Details: Panic triggered by the failure/suspension of the Bank of California and related bank failures in San Francisco; depositors made withdrawals at Anglo-California but the run was slight and subsided.
Newspaper Excerpt: There was also a slight run on the Anglo-California Bank at its opening this morning.
Source: newspapers

Newspaper Articles (11)

1. August 28, 1875 New-York Tribune New York, NY

Article from New-York Tribune, August 28, 1875

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NOT AFFECTED-PROSPECTS OF A SQUEEZE MONDAY. SAN FRANCISCO, Aug. 27.-Last night at midnight a meeting of the officers of the National Gold Bank and Trust Company issued the following notice to the public, and it appeared this morning in the morning papers: In consequence of the panic and the impossibility of obtaining coin, the National Gold Bank and Trust Company will close until further notice. The Bank has $1,300,000 over and above all its liabilities. As soon as coin can be obtained it will resume business as usual. In the meantime any creditor SO desiring can have good assets of the Bank to the amount of his claim. By order of the Board of Trustees. HENRY L. DAVIS, President. The Merchants' Exchange Bank also closed its doors this morning. The directors issued the following notice: In consequence of the excitement, and disappointment of getting coin, the directors deem it for the best interests of all concerned not to open our doors for the present. The secretary states that the bank has $100,000 in coin on hand. The amount liable on deposit is $800,000, but against that there may be over $400,000 in notes. The bank is perfectly solvent. The only trouble is the lack of coin. THE OTHER BANKS GO THROUGH THE DAY SPLENDIDLY. There was great excitement on the Street during the morning, but it now appears to be subsiding. This morning. crowds of people surrounded the closed banks and the savings banks, and there was something of a run on the London and San Francisco Bank. It ceased, however, with a large surplus remaining in its vaults. There was also a slight run on the Anglo-California Bank at its opening this morning. The First National Gold Bank reports everything secure, and the same may be said of the Bank of British Columbia, the Pacific, and Commercial Banks. Private banks report no excitement, and everything going on as usual. Generally speaking, all of the city banks are considered sound, except the Bank of California. President Ralston this morning said nothing in addition to his statements of yesterday. Many rumors are current regarding the condition of the Bank of California. One statement, apparently from good authority, is that the bank will pay depositors in full and stockholders 50 cents on the dollar. On the other hand, a prominent stockholder states that the most the bank can do will be to satisfy the demands of depositors, and it will scarcely be able to do that. There has been a slight rush at the Hibernia Bank and Savings Bank, but demands were promptly met, within the rules as expressed In the by-laws of the institution. Little uneasiness is felt as to the affairs of either of the National Gold Bank and Trust Company, or the Merchants' Exchange Bank. They have an abundance of available assets, and are only waiting the reception of coin. The President this morning states that they paid out about a million dollars yesterday, and that they have still a small supply left. The Merchants' Exchange Bank is believed to be sound, and its suspension only temporary. The Savings banks transacted a usual business to-day, deposits in some being larger than disbursements. There is no excitement on that line. EFFECT UPON VARIOUS INTERESTS IN SAN FRANCISCO, It is stated on presumably good authority that some half dozen heavy stock brokers are likely to go down. No names are given. No commercial failures have yet been reported, though a squeeze is expected next Monday, which is collection day. The City Tax Collector has $275,000 of protested tax moneys on deposit in the Bank of California, for which he has certificates of special deposits. The directors assured the Collector this morning that the money would be paid in a day or two. A rumor not yet confirmed says President Ralston has turned over his private means to the bank. Warren Leland announces that the suspension of the Bank of California does not in any way affect the Palace Hotel, his interest in which President Ralston sold some months ago to Senator Sharon. The great caravansary will open at the appointed date, Oct. 1. The Chamber of Commerce held a meeting this afternoon, and decided that it would probably be more injurious than beneficial to take any action looking toward postponement of ordinary accounts ernotes maturing next collection dav. The meeting

2. August 28, 1875 Nashville Union and American Nashville, TN

Article from Nashville Union and American, August 28, 1875

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The Financial Excitement the Temporary Suspension of National Gold Bank, Suicide of President Ralston. Other Banks Closing their Doors. Savings Institutions Intact positors Running on Other Banks. Probable Crash in the Stock Exchange SAN FRANCISCO, Aug. 27 The Nation al Gold Bank and Trust Company have in the following notice for publication morning papers: of the panic and impossibility of obtaining coin, the National Gold Bank and Tiust Company will close The further until bank notice. has and above all its be obtained soon In the time desiring can have good assets of the bank to the amount of his claim. By order of board of trustees. "HENRY L. Davis, President. The Merchants' Exchange Bank closed doors this morning. The directors have prepared the following notices for the afternoon papers: In of excite menband in coin, the directors deem for their best and interest the open the doors for that the bank $100,000 hand: deposit against that $400,000 notes. The bank is perfectly solvent, the trouble being the Jack of coin. There run the London and San Latham Bank, its demands without trouble Crowds surround the Bank California the and suspended Bank and Trust Company, also savings banks, but the action of the officers of latter institutions last night effectually pre vents run on them. The excitement great. The exchanges are all closed, and busi ness in of suspension. Intense citeme Excitement Subsiding. The excitement seems to be subsiding The crowd California street is much less than the opening of business San Run and London morning. cisco ceased with large surplus ing the vaults. A slight run Anglo California at the opening, but subsided The National Gold reports usual: the same British of said Bank be the of Banks Pacific banks and report Generally city banks sound, except the Bank of from good authorwill depositors cents; on be the utmost to that. isfy depositors, scarcely has the rush little Savings Bank demands promptly met. speaking the believed worst returning But little the either the National Gold Bank Trust Company the Merchant change Bank The former unable fix time abundance of the assets waiting of President this morning about The Mer left. supply chants' Exchange is believed to be sound and suspension only temporary. Probable Failures of Stock Brokers stated, on presumably good authority. that half dozen heavy brokers likely No failures given. A next ported The day, have been the the doing day during business, deposits being than disbursements No excitement that line. Suicide of the President of the Bank California of About ten minutes past five o'clock close drove rapidly to the side door of the Bank of California, gentleman jumped state of excitement. response the quiries said left the body Ralston. officer an charge beach north the city, drowned. Ralston rode works wharf, and death the in The city. other of best From appears North Beach 200 behind and floating brought and alive. died failed. efforts him Col. o'clock. minutes father-in-law, Mayor Otis, and number prominent citizens arrived before he pired. and Capt. Lee went bathing house Mr Ralston's clothes. In found few dollars but and nothing he the residence Col named Festus Mazzele. states that Mr. he reached him clay near the Smelting works; saw him tear several papers and throw the scraps water. Close search made for pieces, but none could be found. He to to reported the contents of phial before going into that water. impression water. before the took poison entering The Board of Directors the Bank California meeting to-day. and Ralston resign did. and Director, further Gold National Company will Banks Exchange and sume Monday. The is full of and hour, eight P. have been the militia to preserve der, 8273,000 in Soak City Collector Austen has $275.00 in the of California, for which he certificates of special deposits. The the Collector this morning that the be paid day says Ral ston has turued his private means to the Bank. CHICAGO. The Case of Ex Gauger Miller-The Whisky King's Version Adetective

3. August 28, 1875 The New Orleans Bulletin New Orleans, LA

Article from The New Orleans Bulletin, August 28, 1875

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THE FINANCIAL EXCITEMENT IN CALIFORNIA A SAN FRANCISCO, Aug. 27.-The general feeling about town to-night is rather blue. The Cashier of the National Gold Bank and Trust Company stated to a gentleman, during an interview this evening, that the bank would open in the morning, but might have to suspend during the day. This bank paid all its gold in the afternoon, and a good deal of silver. If it can make arrangements to-night for coin it may be able to ride over to-morrow. A run is expected on the San Francisco and Merchants' Exchange banks to-morrow. A meeting of bank presidents was called this evening to concert measures for relief. The Board of Brokers has also called a meeting. SAN FRANCISCO, Midnight, Aug. 26.-The National Gold Bank and Trust Company have sent the following notice for publication in the morning papers: In consequence of the panio and the impossibility of obtaining coin, the National Gold Bank and Trust Company will close until further notice. The bank has $1,300,000 over and above all its liabilities. As soon as coin can be obtained it will resume business as usual. In the meantime, any creditor so desiring can have good assets of the bank to the amount of his coin. By order of the Board of Trustees. HENRY L. DAVIS, President. CHICAGO, Aug. 27.-The opinion of bankers in this city is the failure of the Bank of California will produce little, if any, effect in Chicago. SAN FRANCISCO, Aug. 27.-The Merchants' Exchange Bank has closed. The officers claim the only trouble is the lack of coin, of which they had $100,000 of $800,000 liable to draft. The managers of the London and San Francisco Bank assert their ability to meet the run. The Exchanges are all closed, and business is suspended. Great excitement prevails. SAN FRANCISCO, Aug. 27.- The excitement consequent upon the failure of the Bank of California seems subsiding. The crowd on California street is much less than at the opening of business this morning. The run on the Loadon and San Francisco bank ceased with large supplies in the vaults. The slight run on the Anglo-Oalifornia Bank this morning soon subsided. The First National Gold Bank reports everything secure. The same may be said of the Bank of British Columbia, the Commercial and Pacific banks. The private banks report no excitement, and everything is going on as usual. Generally speaking, all the city banks are considered sound, except the Bank of California. President Ralston has said nothing in addition to his statement yesterday. Many rumors are current regarding the condition of the Bank of California. One statement, apparently from good authority, is that the bank will pay the depositors in full, and the stockholders fifty centson the dollar. On the other hand, a prominent stockholder states that the most the bank can do will be to satisfy the demands of the depositors, and scarcely be able to do that. There has been a slight rush at the Hibernia Savings Bank, but the demand was promptly met within the rules as expressed by the by laws of the institution. On the whole, confidence seems to be returning; it is believed the worst is over. Little uneasiness is felt as to the affairs of either the National Gold Bank, and Trust Company or Merchants Exchange Banks; the former reports the probability of soon resuming, though unable to fix the time. They have an abundance of available assets which are only waiting the reception of coin. The president this morning states that they paid out about a million dollars yesterday, and have still a small supply left. The Merchants' Exchange Bank is believed to be sound, and its suspension is only temporary. It is stated on presumably good authority that some half a dozen heavy stock brokers are likely to go down. No names given. No commercial failuresare reported, though a squeeze is expected Monday, collection day. The savings banks during the day transacted their usual business, the deposits in some being larger than the disbursements. There is no excitement on that line. The Chamber of Commerce held a meeting this afternoon and decided that it would probably be more injurious than beneficial to take any action looking towards the postponement of ordinary accounts or notes maturing the next collection day. The meeting was very largely attended. The city tax collector has $275,000 of protested tax moneys on deposit in the Bank of California for which he has certificates of special deposit. The directors assured the collector this morning that the money would be paid in a day or two. SAN FRANCISCO, Aug. 27.-Ralston, President of the Bank of California, jumped off Selby's Smelting Works wharf this evening and drowned. The body was recovered. MOVEMENTS OF THE PRESIDENT.

4. August 28, 1875 Los Angeles Daily Herald Los Angeles, CA

Article from Los Angeles Daily Herald, August 28, 1875

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MORNING DISPATCHES M. Daring Attempt at Train Robbery. Violent Hail Storm in Wyoming. [SPECIAL TO THE HERALD.] PACIFIC COAST. The Banks. SAN FRANCISCO, August 27th.-The run upon the banks was practically over before twelve o'clock. The Merchant's Exchange Bank did not open, posting the reason on the door. The Trust Company did not open, of course, having closed till Monday. The London and San Francisco Bank and the Anglo-California Bank both received to-day telegraphic drafts on the SubTreasury in these sums: Five hundred thousand dollars to the former bank and one hundred and fifty thousand dollars to the latter, which formed a strong reserve, and the intellegence of the transfer served to lift the public confidence very materially. This feeling was strengthened by the fact that no commercial failures were reported, and so far as known no seri-

5. August 28, 1875 The Daily Dispatch Richmond, VA

Article from The Daily Dispatch, August 28, 1875

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BY TELEGRAPH. Financial Panic In San Francisco. [Special telegram of the Dispatch.] WASHINGTON. D. C., August 27.-The failure of the Bank of California was the occasion of great interest and much comment in the Treasury and in financial circles generally to-day, and the general opinion among leading Treasury officials is that the failure is solely due to the fancy-stock operations of the bank. Over $2,000,000 in gold were transferred by the United States Treasurer to the Assistant Treasurer in San Francisco to be placed to the credit of California banks, whose agents in New York bad made deposits with the Assistant Treasurer in that TIMON. city. [By Associated Press.] SUSPENSION OF THE NATIONAL GOLD BANK AND TRUST COMPANY. SAN FRANCISCO, August 26, Midnight.The National Gold Bank and Trust Company have sent the following notice for publication in the morning papers: I-n consequence of the panic and the impossibility of obtaining coin the National Gold Bank and Trust Company will close ontil further notice. The bank has assets of $1,800,000 over and above all its liabilities. As soon as coin can be obtained it will resume business as usual. In the mean time any creditor SO desiring can havegood assets of the bank to the amount of his claim. By order of the Board of Trustees. [Signed] HENRY L. DAVIS, President." THE MERCHANTS EXCHANGE BANK CLOSED, &C. SAN FRANCISCO, August The Merchants Exchange Bank has closed. The officers claim that the only trouble is the lack of coin ; of which they have $100.000, the amount liable to draft being $800,000. The managers of the London and San Francisco Bank assert their ability to meet a run. EXCITEMENT IN THE CITY. SAN FRANCISCO, August 27.-The exchanges are all closed and business is generally suspended. Intense excitement prevalls in the city. THE FEDERAL TREASURY TO THE RESCUE. WASHINGTON, August 27-Heavy transfers of gold to California are being made by the Treasury to-day in support of the banks of that section. Upon official notice being received at the Department that the agents of the banks have deposited gold with the Assistant Treasurer at New York, telegraphicinstructions were sent to the Assistant Treasurer at San Francisco placing credits to the respective banks making such deposits in New York. Thus far over a million dollars have been transferred. Later. THE EXCITEMENT SUBSIDING-CONDITION OF OTHER BANKS, ETC. SAN FRANCISCO, August 27.-The excitement consequent upon the failure of the Bank of California seems subsiding. The run on the London and San Francisco Bank has ceased, with a large surplus in values. There was a slight run on the Anglo California Bank this morning. but it soon subsided. The First National Goid Bank reports everything secure, and the same may be said of the Bank of British Columbia, and the Pacific, and Commercial Banks. The private banks report no excitement, and everything going on as usual. Generally speaking all the city banks are considered sound except the Bank of California. On the whole, confidence seems to be returning, and it is believed the worst is over. But little uneasiness is felt as to the condition of the National Gold Bank and Trust Company, or the Merchants Exchange Bank. It is stated on presumably good authority that some half a dozen heavy stock-brokers are likely to go down. No names are given. No commercial failures are reported, though a squeeze is expected Monday-collection day. The Chamber of Com merce held a meeting this afternoon and cided that it would probably be more injurious than beneficial to take any action looking towards the postponement of ordinary accounts or notes maturing next collection day. The city tax-collector has $275,000 of protested tax-moneys on deposit in the Bank of California, for which he has 3 certificate of special deposit. The directors assured the collector that the money would be paid in a day or two. SUICIDE OF PRESIDENT RALSTON. SAN FRANCISCO, August 27.-Mr. Ralston, the president of the Bank of California.

6. August 28, 1875 New-York Tribune New York, NY

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The following were the treasure shipments from San Francisco for the week ending Aug. 18: $214,363 11 To New-York 296,747 To China, by steamer 2,070 To Ja] an $513,181 01 Total Intelligence telegraph from Washington is to the effect that the Bank of California held no Government bonds, and further, that the Government has about $3,250,000 coin in San Francisco, which is all that can be placed at the disposal of brokers for telegraphic remittance. A special dispatch from San Francisco to Kiernan & Co.'s News Agency, represents that the feeling is very panicky, and that there is a heavy run on the London and San Francisco Bank; also on the AngloCalifornia Bank, but both institutions, it is believed, will stand the pressure. The National Gold Bank and Trust Company and the Merchants' Exchange Bank closed this morning. The President of the Bank of California claims that the bank will pay all its liabilities, but will not resume business. There isarun on all the savings banks which are paying all deposits, but claim 30 days' notice on term of deposits. All business was paralyzed, and intense excitement prevailed. The Treasury Department has made telegraph transfers of $800,000 in gold coin from New-York to San Francisco to-day. The London market quotations are lower for Consols and United States securities, though advices otherwise were not important. The gold market was strong and higher, and closing at 1131₂ last night, opened at 114 to-day, and, after selling at 11378, advanced to 11414. In afternoon dealings the price declined to 1134. This advance is not entirely due to the California troubles, but bears a close relation to the decline in English securities and the apprehensions of a corner. On gold loans the rates were 7 and 6 per cent per annum, and 164 and ¹₃₂ per diem. The foreign exchange market was dull and nominal at quotations. The Assistant Treasurer paid out $770,000 in coin interest, chiefly September conpons, and $21,000 in called five-twenties. The import entries of foreign dry goods at the port of New-York for the week ending to-day amounted to $2,580,604 coin valuation. The amount thrown upon the market covered $2,527,546. The day's business at the Gold Exchange Bank covered: Gold cleared, $33,672,000 ; gold balances. $1,785,692; currency balances, $2,068,958. We annex the principal quotations of gold: 114112-30 114

7. August 29, 1875 The Dallas Daily Herald Dallas, TX

Article from The Dallas Daily Herald, August 29, 1875

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UNDAVASIA NOONHILAY THE CALIFORNIA PANIC. Excitement Subsiding-Confidence turning-Worst Over No Commercial Failures Reported, a Dozen Heavy Brokers and Man ufacturies Shakey. President Rolston, of the Bank Callfornia, Commits Suicide. 841-88 protory NVS citement in consequence of the failu of the Bank of California seems to subsiding. The crowd on the bank much less than at the opening of "shoq SSOU The run on the London and Francisco Bank closed with a large plus in the vault. A slight run on the Anglo Californ this morning soon subsided The First National Gold Bank ourus on pur be said of the Bank of Brit/sh Columb and the Pacific and Commerciaj ban! Private banks report no exciteme Tensuse 110 Sujor PHB erally speaking all the city banks considered sound, except the Batrk California. President Ralston has nothing in addition to his statement yesterday. Many rumors are current regardi the condition of the Californ mo.y suomers ano authority, is that the bank will depositors in full and stockholders ty cents on the dollar. Another that the stockholders state that most the bank can do is to satisfy positors. There has been a slight run on Hibernian Savings Bank, but the mand was promptly met. Confidence seems to be returni мело s! WORDS the believed st 11 pur Little uneasiness is felt, as the aftai of either the National Gold Bank Trust or Merchants' Exchange The former reports the probability an early resumption, though unable fix the time. The National Gold Bank has abundance of available assets. which

8. September 2, 1875 The Indiana State Sentinel Indianapolis, IN

Article from The Indiana State Sentinel, September 2, 1875

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A CALM AFTER THE STORM. THE EXCITEMENTSUESIDING-ALLTHE BANKS CONSIDERED SAFE EXCEPT THE BANK OF CALIFORNIA-SOME COMMERCIAL FAILURES EXPECTED NEXT WEEK. SAN FRANCISCO, Aug. 27.-The chamber of commerce held a meeting this afternoon and decided that it would probably be more injurious than beneficial to take any action looking toward the postponement of ordinary accounts or notes maturing at the next collection day, Monday. The meeting was very largely attended. The excitement seems to be subsiding. The crowd on California street is much less than at the opening of business this morning. The run on the London and San Francisco company has ceased, with a large surplus remaining in the vaults. There was a slight run on the Anglo-California at the opening, but it soon subsided. The First National Gold Bank reports everything the same way. Besides the Bank of British Columbia, the Pa cific and Commercial banks, and the private banks, all report no excitement, and everything going on as usual. All the city banks are considered sound except the Bank of California. Ralston, this morning, says nothing in addition to the statements of yesterday. Many rumors are current as to the condition of the California. A statement, ap parently from good authority, is that the bank will pay the depositors in full and the stock holders fifty per cent. On the other hand, prominent stock holders state that the utmost the bank can do will be to satisfy its depositors and scarcely that, There has been A LITTLE RUSH on the Hibernian Savings Bank, but the de mands were promptly met, within the bylaws. Generally speaking, confidence seems returning. It is believed that the worst is over. But little uneasiness is felt as to the affairs of the National Gold Bank and Trust Company, or the Merchants' Exchange Bank. The former reports a probability of soon resuming, though unable to flx the time. It has an abundance of available assets, and is only waiting the reception of coin. The president this morning states that the bank paid out about a million yesterday, and had only a small supply left. The Merchant's Exchange is believed to be sound and the suspension only temporary. It is stated on presumably good authority that some half & dozen heavy stock brokers are likely to go down. No names are given. No commercial failures are yet reported. A squeeze is expected next Monday, collection day. The savings banks during the day have been doing an usual business, the deposits in some being larger than the disbursements. There is no excitement in that line. City Tax Collector Austin has two hundred and seventy-five thousand dollars in the bank of California for which he has & certificate of special deposit. The directors assured the collector this morning that the money would be paid in a day or two. A rumor, not yet confirmed, has it that Ralston has turned over his private means to the bank. REPORTS AND RUMORS. Account is current here that the losses of Ralston and his cliquein California on minmg stocks and other adventures reach six millions of dollars, A private dispatch from a prominent gentleman in San Francisco says that matters look better, so far as the best interests of the city and state are concerned. The financial panic is fearful. The losses by the failure of the Bank of California will be et heavy. SUICIDE OF THE BANK PRESIDENT RALSTON RIDES TO THE WHARF AND JUMPS ad OFF. nt SAN FRANCISCO, Aug. 27.-About ten minge utes past five, a close carriage drove rapidly ry to the side door of the bank of California k. A gentleman jumped out in ve state of excitement and ran into nk the bank. In response to inquiries, he said of that he had just left the body of Ralston in he charge of an officer on the beach near the of smelting worksin the north part of the city 11. drowned. It seems that Ralston rode t

9. September 2, 1875 The Stark County Democrat Canton, OH

Article from The Stark County Democrat, September 2, 1875

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EFFECT OF THE SUSPENSIONS. Assistance Rendered by the Government. SUICIDE OF PRESIDENT RALSTON. SAN FRANCISCO, August 27.-The excitement seems to be subsiding. The crowd on California street is much less than the opening of business this morning. The run on the London and San Francisco banks has ceased, with a large surplus remaining on hand. A slight run was made on the Anglo-California at the opening, but soon subsided. The First National Gold Bank reports everything O.K. The same may be said of the Bank of British Columbia, and the Pacific and Commercial Bank. Private banks report no excitement and everything going on as usual. Generally all city banks are considered sound except the Bank of California. Mr. Ralston this morning says nothing in addition to the statements of yesterday. Many rumors are current as to the condition of the California Bank. One statement, apparently from good authority, is, that the bank will pay depositors in full, and stockholders fifty cents. On the other hand, a prominent stockholder says that the utmost the bank can do will be to satisfy the demands of depositors, and scarcely that There has been little rush at the Hibernian Savings Bank, but the demands were promptly met within the by-laws. Generally speaking, confidence seems returning. But little uneasiness is felt as to the affairs of either the National Gold Bank Trust Company or Merchants' Exchange Bank. The former reports the probability of soon resuming, though unable to fix the time. Abundance of available assets is only awaiting the reception of coin. The president this morning states they paid out about one million dollars yesterday, with a small supply left. The Merchants' Exchange is believed to be sound. The suspension is only temporary. OTHER FAILURES. The National Gold Bank Trust Company and the Merchants' Exchange Bank have suspended. The directors of the latter have prepared the following notice for the afternoon papers: In consequence of the excitement, and the disappointment in getting coin, the Directors deem it for the best interests, and the interests of all, uot to open our doors at present. The secretary states that the bank has $100 in coin on hand. The amount liable on deposits is $800,000, but against that may be over $400,000 in notes. The bank is perfectly solvent, the only trouble being a lack of coin. There is a run in the London and San Francisco Bank, but Manager Latham asserts his ability to meet all demands without trouble. Crowds surround the Bank of California and the suspended National Gold Bank and Trust Company also the Savings Banks, but the action of the officers of the latter institutions last night effectually prevents a run on them. The excitement is great. STATEMENT OF NATIONAL GOLD BANK. The National Gold Bank and Trust Company have sent in the following notice for publication in the morning papers In consequence of the panic, and the impossibility of getting gold, the National Bank and Trust Company will close until further notice. The bank has $1,300,000 above all its liabilities, and as soon as coin can be obtained, will resume business as usual. In the meantime, any creditor desiring can have good assets of the bank to the amount of his claim. By order of the Board of Trustees." [Signed,] HENRY L. Davis, Pres't. City Tax Collector Austin has two hundred and seventy-five thousand dollars of protested tax monies on deposit in the Bank of California for which he has certificates of special deposits. The directors assured the collector this morning that the money would be paid in a day or two. A rumor which is not yet confirmed says that Ralston has turned over his private means to the bank. SUICIDE OF PRESIDENT RALSTON. About ten minutes past five o'clock, a close carriage drove rapidly to the side door of the Bank of California. A gentleman jumped out in a state of excitement, ran into the bank, and in response to inquiries said he had just left the body of Ralston in charge of an officer on the beach, near the smelting works, in the northern part of the city. Ralston had gone to the Sellig's smelting works wharf and committed suicide by jumping off the dock. FURTHER PARTICULARS OF THE SUICIDE. There is great excitement in the city over the death of Ralston, which overshadows every otber topic. From the best information, it appears he went to the sea-bathing establishment at North Beach, about 3:25 p.m., undressed, went into the water, swam about two hundred yards, disappeared behind a vessel, and

10. September 2, 1875 Puget Sound Dispatch Seattle, WA

Article from Puget Sound Dispatch, September 2, 1875

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wheat, good milling, $2 15; round lots held $2 20@$2 25; otherwise range, $2 10@$2_15 It is rumored that the Pacific Mail and Panama Railroad companies have arranged a contract for carrying pas sengers and freight and also that the new Panatra road has agreed to renew the loan to the Mail company. The banks of this city will be closed on the 9th proximo, it being a legal holiday. It is probable that the wholesale houses will also close on that day. Warren Leland says he will open his hotel register on the first of October. William Lacrie, late mate of the ship Lady Blessington, was drowned off Front street wharf yesterday. SIOUX CITY, Iowa, Aug. 25.-The most terrific rain storm that ever visited this region occurred last night, lasting from 8r. M. to near midnight. The damage to crops, bridges. etc., is not yet as certained but must be very great. NEW YORK, Aug. 25.-O'Baldwin, the Irish giant, is dying here of lung disease. A London special says at the opening this morning Market was dull. Gold closed at 13%, Government bonds steady, stocks dull. Judge Shipman, of the U. S. Circuit Court, to-day confirmed the recent sale of the property and franchises of the Northern Pacifie Railroad Company and their purchase by the committee repre senting the bondholders. The company will now be recognized by the issue of preferred stock to holders of bonds. Joseph Loeder, the upholsterer, who libelled H. W. Beecher, was to-day admitted to bail in $2500 boLds. Notices of the trial were filed with the clerk of the City court in Brooklyn in the suits of Theodore Tilton vs. Henry Ward Beecher, Tilton vs. Thomas Kinsella and Tilton TS. the Brooklyn Eagle by attorneys for plaintiff. JACESON, Miss., Aug. 25.- The Republican State convention met at noon, colored delegates prominent. Considerable delay occurred in the selection of a temporary chairman and A. T. Morgan was finally chosen. Six counties haveccntesting delegates. A committee was appointed on credentials. Owing to the difficulty of deciding the claims of contestants, the committee have not reported and at 7P. M., nothing was done. The delegates seem lacking in enthusiasm. SAN FRANCISCO, Aug. 26.-General Sheridan paid a visit to the stock board to-day. The dropping of the market has been such as to amount to a panic and it is supposed that many stocks have gone under. PORTLAND, Aug. 27.-At five o'clock yesterday afternoon the startling intelligence reached this city by telegraph that the Bank of California, one of the leading financial establishments on the Pacific coast and second in the volume of its transactions to but few in the United States. had suspended. Of course growing out of the report of the suspension were rumors of failures, great losses and complete panic. Unfortunately the wire broke in southern Oregon, before our dispatches were sent. Ladd & Tilton received a telegram from the officers of the bank saying that they were compelled to suspend payments at 2:30 P. M. Ladd & Tilton announce that ariangements will be made to-day for the payment in San Francisco of all checks drawn by them on the Bank of California. Notice of same will be given here and in the San Francisco Alta or Bulletin to-day. LACONNER, Aug. 28.-This section was visited last Sunday by an unusually heavy rain and wind storm which prostrated the crops, doing immense damage to grain. The weather has been cloudy all the week and again this morning we were visited by another heavy rain and wind. It is still raining and the damage to crops will be immense. SAN FRANCISCO, Aug. 27.-The excitement seems to be subsiding, the crowd on California street is much less now than at the opening of business morning. The run on the London and San Francisco bank ceased with a large surplus remaining in the vaults. There was a slight run on the Anglo-California bank at the opening but it soon subsided. The first National Cold bank reports everything quiet. The bank of British Columbia and the Pa-

11. September 4, 1875 Arizona Citizen Tucson, Florence, AZ

Article from Arizona Citizen, September 4, 1875

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1crowd on California street was much less than at the opening of business this morning. The run on the London and San Francisco bank ceased with a large surplus remaining in the vaults. Slight run on the Anglo California at the opening, but it soon subsided. The First National Gold Bank reports every thing quiet; the same may be said of the Bank of British Columbia and Pacific and Commercial Banks. Private banks all report no excitement and every thing is going on as usual. Generally all city banks considered sound, except the Bank of California. Ralston this morning says nothing in addition to his statements of yesterday. Many reasons are current as to the condition of Bank of California. One statement appeared from good authority, that the bank will pay depositors in full and sixty cents to stockholders; on the other hand, prominent stockholders state the most the bank can do, will be to satisfy depositors and scarcely that. There has been a little run on the Hibernian Savings Bank, but the demands were promptly met there by loans. Generally speaking, confidence seems to be returning and the panic is believed to be almost over. But little uneasiness is felt as to the affairs with the National Gold Bank and Trust Company, or Merchants Exchange Bank: the former reports a probability of some running, but it has abundance of available assets. The president this a. m. stated they paid out a million yesterday, with a small supply left. The Merchants Exchange is believed to be sound, and its suspension is only temporary. LATER.--Great excitement has been caused by the rumor on the street that W. C. Ralston, president Bank California, committed suicide by drowning himself in the bay. LATER, 6 p. m.-Without doubt the rumor that W. C. Ralston drowned himself in the bay opposite Selby's smelting works is correct. Selby's son brings the news and says he helped to take the body out of the water. There is a most profound sensation throughout the city. STILL LATER, 6:30 p. m.-Ralston's body is at Col. Fry's house. The people are almost wild with excitement. Gen. Coey of the National Guard is prepared to quiet any disturbance that may arise. LATER STILL, 8 p. T-The facts concerning the suicide of the great banker as far as can be ascertained, are these: Ralston went over to North Beach and went in bathing in the bay was seen throw away a paper after going to the water. Boatmen afterwards saw him floating and took him out. They worked upon the body and tried to restore life, but it was no use, he was dead. The story is that he took poison and deliberately went into the water and drowned himself. A few are inclined to believe that it is a case of accidental death. The coroner will hold an inquest to-morrow. It is impossible to convey an idea of the effect this intelligence has upon the peoplenothing like it has been witnessed for years. The National Bank and Trust Company, this morning, announced a temporary suspension on account of scareity of coin, but will give good securities to any depositor who wishes them. At 1:30 p. m. depositors commenced a lively run on the Anglo-California Bank, the London and San Francisco Bank, the Merchants Exchange Bank and the First National Bank. Savings banks require the legal notice before paying anything. LATER.-The Merchants Exchange Bank has closed. The Chamber of Commerce held a meeting this with a large attendance. It was decided that it would probably be more injurious than beneficial to take any ac. tion looking towards the postponement of ordinary settlement of accounts and notes maturing next collection dayMonday. The course of the different banks has caused good feeling. Several closed