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Yesterday Brought About No Change for the Better. A Large Crowd Gathered About the Commercial, But It Did Not Open. But One Banking Concern in the City Now Doing BusinessThere Was a Slight Run on That, but It Soon Subsided. SAN LUIS OBISPO, March 13.-The bank situation here has not changed for the better as yet. A large crowd gathered about the Commercial Bank The this morning, but it did not open. Commercial has standing as follows: Liabilities-Capital stock, $200,000; deposits, etc., $551,500. Assets-Bills receivable, $390,000; real estate, $55,000. stocks and bonds, $43,000; sundries, $71,000. President Venable, in speaking of his bank this afternoon, said: There are some people right here in this town the who are actually elated at seeing financial institutions being driven to the wall. I think it is uncertain as to when our bank will open again. It is much better for the bank to go into liquidation rather than force those who it are in debt to it to settle in full, as would only ruin them and do the bank no good.' J. P. Andrews, President of the Andrews Banking Company, the only bank that is now doing business here, stated that there had been a slight run on his place during the morning, but it subsided about 2 o'clock. He had received many new deposits to-day, and the is confident that he will weather storm. The outlook for business men who had overdrafts on the closed bank is a forerunner of more trouble. It is claimed by financiers here that if too much pressure is brought in making collections for the broken banks, several business houses may be forced to suspend. The town has never experienced such a panic before. The affairs of the County Bank were being looked into to-day by Bank Commissioner Barrett and Secretary Dinsmore, and they also paid a visit to the DiCommercial Bank. The Board of rectors of the latter institution held a meeting, at which the Commissioner and his secretary were present, but nothing developed except that the bank would go into liquidation. The work of the Commissioner has not yet been finished, but the County Bank affairs will be settled up before the CommerThe cial's affairs are investigated. branches of the Commercial at Cambria, Paso Robles and Templeton are closed. ANOTHER BANK CLOSED. TEMPLETON, March 13.-The Bank of failed to open Templeton its its doors doors to-day. There was posted on a notice, as fellows: 'Owing to the suspension of several banks with whom we are connected, the Boar of Directors has decided to suspend business temporarily "A. P. SEEMAN, Cashier." The bank has always been in good condition, but the prospects of two dry years in this region and the collapse of all the other banks in the county but one caused the local bank to close. The officers of the bank claim that all depositors will be paid in full. Cashier Seeman says the bank may possibly open in ten days, but cannot say so positively. If the bank had opened its doors to-day as usual, there would have been quite a run, as many depositors came in from the country to draw out their money. The standing of the bank cannot be ascertained at this time. CITIZENS BANK OF PASO ROBLES. PASO ROBLES, March 13.-The Citizens' Bank failed to open its doors today. The Citizens' Bank is a branch of the Commercial Bank of San Luis Obispo, which closed Saturday. Much excitement prevails. The following notice has been posted on the Citizens' Bank: 'As a measure of self-protection, and for the protection of creditors of this bank, it has been decided not to open the doors until after the excitement prevailing at present has subsided. By order of the Board of Directors. A. F. HORSTMAN, Secretary." On Saturday this bank met all demands, and was prepared to do so today, but Bank Commissioner Barrett advised a temporary closing, to avoid business ruin. The officials state that the resources are sufficient to meet all obligations. The Bank Commissioners will arrive this week, and will decide to reopen or go into liquidation. The Templeton Bark a branch of the Citizens Bank, also closed its doors this morning, to avoid a run. Financial decrease, owing to drought, is the cause of the failure. The banks here were formerly prosperous, but, owing to heavy loans on real estate and crops, it is impossible to realize. Copious rains during the next ten days will do much to solve the financial problem. It has been stated that the Paso Robles bank will reopen soon. The officials of this bank will meet to-day. MET ALL DEMANDS PROMPTLY SANTA MARIA, March 13.--Owing to a supposed connection with San Luis Obispo banks, a light run was made on the Bank of Santa Maria on Saturday and to-day. The bank met all demands promptly, and the flurry subsided. President Adams states that the bank is a separate institution, and full confidence is felt in its conservative management. UNION SAVINGS BANK.
