American National Bank (San Francisco, CA)

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holidays "in the interest of public welfare, and in consequence no legal business can be transacted and all banks will remain closed. Another important meeting in Oakland to-day was that of the San Francisco Clearing House, which discussed the financial question and prepared plans which will be submitted to the State Clearing Association in Oakland Tuesday. While the State bank report shows all the banks throughout the State in good condition yet a large majority of the smaller institutions had large deposits with the San Francisco banks and the situation is very grave. A general suspension of banking business throughout the State until the monetary condition is readjusted was the general idea of the bankers attending the meeting. WASHINGTON, April 21.-The Treasury Department to-day received several telegrams relating to the condition of banking property and the financial outlook in San Francisco. Supt. Leach of the San Francisco Mint reported that every bank in the devastated city was buried in ruins, but banks in Oakland, Berkeley and Ala= meda were able to resume business. The telegrams to Secretary Shaw follow: "Thanks for your complimentary despatch. Every bank in San Francisco buried in ruins. All banks in Oakland, Berkeley and Alameda able to resume business, including First National, Oakland; Union National, Oakland; First National, Berkeley, and Berkeley National, Berkeley. "It looks as if Oakland must be temporarily the banking centre for California north of Tehachapi. State Banking Commissioners have located office in Oakland to meet this condition. "The suburban banks ought to have free and prompt telegraphic transfer of funds. In view of the ruined condition of SubTreasury, advise making the transfers direct through the Mint. "The Sub-Treasury went down in the fire early, and is now surrounded by blocks of ruins. "The fire is still burning, but it is thought to be confined to a few blocks of residences somewhat isolated. No foundation for published statement of attack on Mint. "Will do what I can about bureau of information of refugees. Have received to-day Meline's order for transfer of funds to Bank of California, San Francisco. "LEACH, Superintendent U.S. Mint." "My temporary address is 3147 Clay street, San Francisco. All San Francisco banking houses destroyed. None destroyed in Oakland. Cannot report at present as to condition of suburban banks. "Sub-Treasury roof caved in. Vaults apparently intact, but blocked with débris. After consultation with leading bankers, will report as to best plan of procedure. "JULIUSJACOBS, 'Assistant Treasurer, U.S." "Plenty water at Unalaska wharf. All business portion of San Francisco burned except Appraiser's building. Crew of Thetis and Bear have done guard duty since the earthquake Can'tsay when they can resume ships' duty. City burning. HUMMEL, "Official Treasury Department. OMAHA, Neb., April 21.-Joseph Tobin, president of the Hibernia National Bank, San Francisco, en route from New York, received a telegram in Omaha to-day reading: "Bank destroyed; every dollar in vaults gone." After reading the telegram President Tobin said: "Our deposits were up in the millions of dollars. We will pay dollar for dollar to all depositors."

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RECORDS IN CITY HALL ARE SAFE PROPERTY OWNERS REJOICE OVER NEWS Bankers Hold Meeting and Decide to Resume Business Within Thirty Days If Such a Thing Is Possible By Associated Press. SAN FRANCISCO, April 22.-It was that a examannounced today careful and ination had been made of the books records in the city hall and that all were found to be in good condition. This fact has greatly relieved the anxiety of many property owners who feared complications regarding titles might arise. The bankers of San Francisco represented in the clearing house, which includes the commercial banks and some of the savings banks, held a most satisfactory and most encouraging meeting at the home of Mrs. Eleanor Martin, at the corner of Buchanan and Broadway. Sufficient Money on Hand The conclusion of the conference was that there is sufficient money in San Francisco to meet the financial emergency, but that it would be folly to open for business unless fully prepared to do so. The experience of Baltimore in opening the vaults of the banks in two weeks after the fire was reviewed. In that city the contents of many of the receptacles burst into flames because they had not been given opportunity to cool. The banks thought that thirty days would be the limit of the time before they would resume business and that possibly they will be prepared soon. Reports From Washington Read Homer S. King, president of the clearing house, presided, and Worthington Gregg, secretary of that institution, acted as secretary. Sub-Treasurer Jacobs read some telegraphic correspondence between himself and Secretary of the Treasury Shaw. The secretary had inquired in respect to the condition of the commercial banks of this city. The assistant treasurer's reply was that all the banks were in ruins and consequently had suspended business. The roof of the sub-treasury on Commercial street had fallen in, covering the vaults and rendering the structure the transaction of business. however, was unfit The mint, for vaults, still intact, upon with over $200,000,000 in its which transfers from New York might be drawn. Bankers Will Work Together Chairman King said: "The bankers all want to work together and we will do the best we can.' I He said that no one was in need of money except for the purchase of food and no one would be so unreasonable ns it for other purposes at this He himself had been to time. to accept current expenses. obliged borrow money for 5 Henry T. Scott spoke in opposition to an early opening of the vaults of the banks. He recalled the experience of Baltimore, where the receptacles were open in two weeks, and from many of them flames burst, consuming their contents. May Extend Holiday There was some discussion about the advisability of asking the governor to extend the legal holiday for thirty days and committees to confer with the governor on the subject were appointed. Metings of the clearing house banks and commissioners will be held tomorrow to further consider the financial situation. $ 75 Consider Sanitary Conditions A medical committee composed of Dr. Ward of the city board of health and Colonel Turner of the federal board of p health today made a survey of the supply lines of the Spring Valley Water p S company. It was their purpose to ascertain def- in o initely the location of the breaks s the water mains. The committee, after consulting with 1 the chief engineer of the company, h proposes to engage 500 or more plumbto immediately repair the pipes so secure a full supply as ers to Master of water. The members of the Plumbg ers' association have offered their services to make house to house inspection of the water pipes with a view to making sewer connections. d Three Maternity Hospitals r r Three maternity hospitals are to be established in different parts of the f IS city. A physician has been delegated by the board of health to quarantine all 9 houses where contagious diseases may 's appear. Colonel Turney anounced that Hark bor View park, situated at the foot of had been seized for the of contagious e purpose Baker street, housing responded patients. Fully 200 physicians have e to the health department call for volunthe assistance of more r those present was than teers and decided 300 necessary to shield the city from pestilence.

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PUZZLE

BANK SITUATION A IN STATE CONFERENCE HELD IT. OAKLAND TO CONSIDER the No Banking Business Can Be Done Holiday in State Owing to the Legal Plan of Meeting Emergency Needed. Notes Some and of Avoiding Runs OAKLAND Cal. April 24 meeting of the State was held in Oakland this afternoon by Gov Association attended the State Bankers' Attorney-General of to Pardee, the State Bank Commission. Webb and upon some relief for the stringent caused determine market throughout the State of banking money enforced suspension days by business the upon the Governor's thirty of interdiction. Representatives from over the a score big coninterior vailey banks. Sacramento and the large Los Angeles and attendance the cerns Oakland of institutions were in upon the meeting problem of permitting banks business through to The State to do sufficient of trade out the the paralyzed avenues run by open up incurring the dangers of that a was : / without deposito was the question paralysis ! the this afternoon The as they I discussed all of the San Francisco banks, centre acting for the : did as the chief all nervous the State, has brought money market of to the banking business is a series crisis and one which it realized i throughout can California only be alleviated by careful and discreet manipulation. bank The question submitted to the Can the this afternoon was: exchange commission limited business of withbanks do a limited number of drafts and honor a to the San Francisco banks out doing without injury incurring the danger of being meet and swamped by timorous depositors?" of called to the attention the in the It was gold supply intact Mint and with which is ing that Francisco with the cent. the generous San of from 40 to 60 per emergency reserve of the banks. imbe paid without the might themselves and to notes carried by the all banks seriously stagnant perilling great convenience of the now trade. the question arises- if a anything bank opens to Yet for business is there demanding its doors depositors from prevent all of their funds and ruining drafts the a score full of amount banks where the heaviest would be felt? the session of the bankers the business was Although an executive character and over until toof of the delegates was carried definite announcemorrow without any the belief being made of it progress. commission supment the bank favors a prevails that Attorney-General, ported by the upon emergency demand limited payment San Francisco banks can days open their until doore the at the end of the thirty period of quiescence. time sufficient money will every have At that from the East to meet which been drawn the dangerous erisis overthe demand banks and now fnce will have been come meeting of the Oakland bankers repreAt a there were present instithis morning of the following Oakland Union sentatives Oakland Bank of Savings. Bank tutions First National California Merchants'. National. Bank. Farmers and and Central State Savings Bank. Security Oakland Bank Bank and Trust Company. West An adjournment was Trust Company noon in order that the the represen- general taken at present might attend tatives of the State Pankers Association, afternoon. meeting convened at 2 o 'clock this on the which news was given out it Though no Oakland bankers meeting results of business of the learned the that the necessity meeting of makis to do with the even had largely accommodation to patrons the days ing small Governor's embargo on shall banking have before business for the next The thirty spirit of the bank been removed seemed to favor the conservative drawn presidents of funds now being supply disbursement the San Francisco Mint's orders gold only from upon the relieve most the urgent total stagnation of This is to must necessarily continue business that Francisco banks are in a busi- pountil the San their vaults and resume however, on sition to open is no disposition. Ivanness There the Oakland banks to take a San the part the of temporary crippling With of this the resertage of banking houses whatFrancisco it was decided that take vation in view the Oakland banks may of the ever steps temporary alleviation, solely toward the market should be financial interests of in the not for the profit situation tightened general and money houses immediate the of any Oakland banking of gold from the dollar San More such as the million Nashipments Mint. Union Francisco that came to the expected consignment vesterday afternoon. are of Broadtional All of the largest banks for the to-day accommodations way have made sums in gold specie. receipt of be considerable afternoon has passed the vaults fully Before in gold will be resting concerns in $3,000,000 at least of the Oaklar were paid of four small notes banks To-day counters many of three of the holders over the accommodation financial for the needs simply as relieve pressing can be and to banking business inhibition done But no until general the present period of is over. understood that this morning credit the It is transferred to the Southern Pacific Bank of Savings $500,000 fund to to of the Oakland special contingency heavy be used the as a institution against upon any it before San the drafts fortify that Francisco may be banks made can regain their Company The one vault and and feet to-day Fireman's opened once Fund burst Insurance into This a the hows blaze papers what be may expected were and books at entirely consumed if the bank vaults are opened too HOOD. of

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$30,000,000 IN BANK VAULTS.

San Francisco Will Also Soon Be Able to Get $48.000.000 More.

OAKLAND, Cal., April 28.-Until the banks open and business begins to get on its feet things will be pretty much at a standstill in San Francisco. This has been the dullest day since the city of Oakland passed the city of San Francisco in population. Things are proceeding steadily toward a readjustment and a beginning. One line of street railway is running-from the ferry up Market street to Fifth. This covers a stretch of little more than three-quarters of a mile but it helps solve the transportation problem. Distances are enormous and there are no other public carriers, of course. The city banks may open next week. The Bank Commissioners want them all to open at once so as to accommodate the smaller banks. Already some of them which have found temporary accommodations on Laguna street are paying off their country correspondents, so that farming, the life of San Francisco commerce, shall not be hindered at this time of the year, when the ranches are getting ready to begin on the early crops. The bankers say that they are as eager as the depositors to open, for the money stringency is very troublesome. As things stand at present, millionaires are no better than paupers. Cash is all that goes now.

Resumption of banking is pretty much a matter of getting the vaults cooled and open. Inspection shows that with two or three exceptions the vaults are intact. With two or three exceptions, however, the buildings are down. According to the annual statements, the value of the buildings was $6,992,327. As two-thirds of this valuation represents the land of the banking sites the total loss in property will be about $2,300,000-a sum which will in no way impair their financial standing. Insurance on buildings and fixtures will cut this down.

CASH ON HAND IS $30,000,000,

The amount of cash in the vaults of commercial, national and savings banks is $30,571,023; this is immediately available. The amount due all the banks from outside banks and bankers was $37,987,090, of which only $18,000,000 can be figured on. The rest comes from the San Francisco banks. The grand total is $48,000,000 asset, swhich will be ready as soon as banking opens or shortly afterward.

In addition, they held stocks and securities valued at $91,191,130-one-third in Government bonds. This $30,000,000 in Government bonds, added to the cash on hand and due, makes the sum of $78,000,000 ready to hand. Convertible securities outside of the United States bonds may bring the total to $100,000,000 within two weeks.

SHIFT IN REALTY VALUES,

There has been a queer shift in real estate values. Oakland is having a boom prices of business property are rising steadily, There are many who believe that Oakland will never lose a great deal of the excess population and capital which mnst stay here while San Francisco is being

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NEWS OF THE WEEK In a Condensed Form for Our Busy Readers. HAPPENINGS OF TWO CONTINENTS A Resume of the Less Important but Not Less Interesting Events of the Past Week. The new Russian cabinet is composed of reactionaries. San Francisco's water supply is now safe, but short. Idle men in San Francisco are refused food and made to go to work. San Francisco banks have reopened and are doing a good business. A new copyright law has been completed. but its passage by congress is doubtful. Military forces are after another bandit band in the province of Cavite, Philippine Islands. Attorney-General Moody is preparing to prosecute the Standard Oil and railroads for rebating. People of Zion City fight shy of meet ings held by Dowie, at which he at tempts to explain recent events. The United States has been accused of buying the plans of the British battleship Dreadnaught from a naval of ficer who stole them. James D. Phelan says the condition of thousands in California is pitiful, and it may be necessary to issue an other appeal for public aid. Dowie is fatally ill with dropsy. Hermann's trial has been set for the first week in June. China opposes the immediate opening of Manchurian ports. Father Gapon has been executed by rebels for betraying them. The Senate committee has disagreed on procedure in the Smoot case. Democrats elected. their mayor and ten councilmen in the Omaha city elections. The California earthquake formed-an island in Bolinas Bay, 30 miles from San Francisco. San Francisco banks are paying depositors through the mint, and the money stringency has been lessened. The labor situation in France is growing worse. Cavalry has been called to the scene of the rioting, and many workmen have been trampled under foot by troopers' horses. The California earthquake revealed a big graft in the erection of Stanford University buildings. Structures for which $6,000,000 were paid cost the contractor but $3,000,000. Senator Heyburn is seriously ill. Witte's resignation as premier of Russia has been accepted by the czar. Hearst has asked congress to appropriate another $2,500,000 for California. Three men were fatally injured in a riot between striking miners and Pennsylvania constabulary. Each side claims a majority of the senators in the question of court review on the railroad rate bill. Senator Morgan has a plan for the construction of the Panama canal which he has brought before the senate. The French government has arrested many labor leaders, imperialists and anarchists and is preparing for an outbreak. Millions of Chinese are learning English and are translating foreign scientific books. The Chinese Reform Association has worked wonders among the natives. The supply of food at San Francisco is low. Mayor Schmitz has issued the of running way a statement funds, saying clothing anything and provi- in sions, can be used. It is believed the senate will vote on the railroad rate bill this week. b Great Britain may force Turkey to give up Tabah. Every library in San Francisco, except one, was destroyed. Peddlers have been captured in San Francisco selling relief supplies. Suit has been begun to oust the Standard Oil and its allies from Ohio. Dowie has returned to Zion City. He was welcomed by a small crowd. Prince von Radolin will likely be named as the successor of Chancellor von Buelow. Premier Witte will be appointed president of the council of the empire by Czar Nicholas. Secretary Metcalf has reported recommending an immediate rebuilding in San Francisco. Roosevelt has approved the report. Luke E. Wright, United States ambassador to Japan, says the Chinese should receive better treatment at the hands of the Americans than is now accorded them. Senators from Oregon and Washington have received telegrams from the lumber interests in those states opposing free lumber for the purpose of rebuilding San Francisco and other wrecked cities.

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RESUME OF THE WEEK'S DOINGS

General Review of Important Happenings Presented in a Brief and Comprehensive Manner for Busy Readers-National, Political, Historical and Commercial.

Trepoff and the dowager empress now rule the czar.

Turkey is rushing troops to Sinai to fight Great Britain.

Ohio is preparing to oust the Standard Oil from that state.

Advocates of international arbitration oppose a larger navy.

Attorney-General Moody is at work on Standard Oil indictments.

Anthracite coal miners will avoid a strike by accepting the old wage scale.

Smallpox has broken out in Zion City, and the Dowie party calls it Divine punishment.

Twenty-one students at an Indiana college have been suspended for hazing one of the professors.

Losses by the San Francisco fire have caused the bankruptcy of the Traders' Insurance Company of Chicago.

The president has won his fight on the railroad rate bill and an amendment has been inserted carrying out his views.

The battleship Rhode Island went aground in Chesapeake bay. No damage has been done, and it is expected she will be floated soon.

A bill has been introduced in congress authorizing the reappointment of a number of West Point students who were recently expelled for hazing.

Senator Heyburn's illness has become more serious.

The Czar is in a panic over what parliament may do.

The Southern Pacific has hauled 1,056 cars of supplies to San Francisco.

General Greely says there is sure to be more suffering in San Francisco.

The house committee has killed the bill abolishing land office receivers.

San Francisco has plenty of food on hand for ten days, with more on the way.

The management of San Francisco has been restored to the municipal officials.

The new Russian cabinet claims to be Liberal, and denounces Witte as an oppressor.

Great Britain has sent an ultimatum and a fleet to Turkey. She is supported by the other powers.

Two passenger trains of the Pennsylvania road collided near Altoona, Pa. Twenty-five people are dead or injured.

Geologists investigating the cause of the San Francisco earthquake have found an immense crevice in the mountain range near Redwood City.

The new Russian cabinet is composed of reactionaries.

San Francisco's water supply is now safe, but short.

Idle men in San Francisco are refused food and made to go to work.

San Francisco banks have reopened and are doing a good business.

A new copyright law has been completed, but its passage by congress is doubtful.

Military forces are after another bandit band in the province of Cavite, Philippine Islands.

Attorney-General Moody is preparing to prosecute the Standard Oil and railroads for rebating.

People of Zion City fight shy of meetings held by Dowie, at which he attempts to explain recent events.

The United States has been accused of buying the plans of the British battleship Dreadnaught from a naval officer who stole them.

James D. Phelan says the condition of thousands in California is pitiful, and it may be necessary to issue another appeal for public aid.

Dowie is fatally ill with dropsy.

Hermann's trial has been set for the first week in June.

China opposes the immediate opening of Manchurian ports.

Father Gapon has been executed by rebels for betraying them.

The Senate committee has disagreed on procedure in the Smoot case.

Democrats elected their mayor and ten councilmen in the Omaha city elections.

The California earthquake formed an island in Bolinas Bay, 30 miles from San Francisco.

San Francisco banks are paying depositors through the mint, and the money stringency has been lessened.

The labor situation in France is growing worse. Cavalry has been called to the scene of the rioting, and many workmen have been trampled under foot by troopers' horses.

The California earthquake revealed a big graft in the erection of Stanford University buildings. Structures for which $6,000,000 were paid cost the contractor but $3,000,000.

Senator Heyburn is seriously ill.

Witte's resignation as premier of Russia has been accepted by the czar.

Hearst has asked congress to appropriate another $2,500,000 for California.

Three men were fatally injured in a riot between striking miners and Pennsylvania constabulary.

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STOCK MARKET FEATURES

EARLY WEAKNESS AGAIN FOLLOWED BY STRENGTH.

Some Profit Takein and Some Accumulation-The Public Nibbling-Satisfactory Crop Report-Leading Features in Railroad Stocks-The Cotton Market-Strength of Shannon Copper Stock-Gossip.

Yesterday's stock market was characterized by weakness early in the session, followed by strength. The closing waststrong.

Notwithstanding the importance of the importance of the government crop report and the easier monetary situation, it did not appear very clearly that these matters were actual influences in yesterday's stock market, nor was much attention paid to yesterday's accomplishments in the United States senate in the various amendments to th erailway regulation measure, including the one bearing most directly upon the operation of the coal roads.

The volume of bunsiness was maintained upon a large scale, and active dealings were conducted in all quarters of the market, with the local traction issues furnishing a larger proportion of the total than has been the case for several weks past.

The new Interborough-Metropolitan shares were notably strong on expectations that dividend paments would soon be instituted upon the preferred. It was apparent that a god deal of profit-taking was in progress. Much the same thing has been seen every afternoon during the present week. While other stocks were receding, a few, like St. Paul, were run up a little to break the force of the setback.

Leading features of the railway list were New York Central, Pennsylvania, Atchison and Union Pacific. Characteristic advances were scored by Northern Pacific and Great Northern preferred, and sharp gains were noted in some of the so-called specialties.

One banking interest received word yesterday that San Francisco banks would not resume business until June 1.

The bond market was much better. Two million dollars were paid back to the sub-treasury yesterday by the banks for advances made on gold imports.

Directors of the Broklyn Union Gas company at a meeting held yesterday declared a quarterly dividend of 1 per cent. This is a reduction of 1 per cent. compared with previous dividends this year, declared in February.

Though still somewhat backward, outsiders are beginning to take more interest in the game. It is no trouble at all to get rid of the actual cotton. At the present rate that it is being absorbed it will not be long before the difficulty will be in supplying the demand.

The Harriman interview was used as a bull argument for putting up the grangers-particularly the Harriman issues. Yet many had their misgivings about the propriety of buying on such utterances, remembering good selling of stocks just after such occasions.

Transactions in bonds included $100,-000 Marine 4½s at 78½, $50,000 Delaware and Hudson at 107½, $25,000 Westinghouse 5s at 97¾, and $3,000 American Writing Paper 5s at 84.

The putting up of granger stocks an a good government crop showing is an old device, though it is hardly to be supposed that many will listen to this argument so early in the year. Compared with an average year, the winter wheat showing was considered excellent, though it lacked 1½ per cent. of the condition reported a year ago. There has been god improvement during the last month.

Much of the recent buying of the Hill stocks has been for foreign account. This, it was alleged, had so reduced the floating supply as to make sharp advances, like those scored yesterday, a matter of great ease. The same foreign buying argument was used about these stocks just before the recent break.

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OPENING BANK VAULTS

Boxes Containing Valuables Were Found to be Intact. San Francisco, May 18.-Over 1,000 persons, each wearing an anxious and worried look, and impatient to examine papers and valuables deposited in the vaults of the California Safe Deposit & Trust company, stood in line yesterday awaiting the opening of the vaults when the brick and debris had been cleared away. The contents of the boxes were found intact and most of the depositors left their valuables In the compartments. The Anglo-Califor. nia bank also opened its vaults. and found books, papers, currency and coin in perfect condition. At a meeting of the clearing house committee yesterday It was decided that the commercial banks of this city will open for regular business next Wednesday. It is believed that the extended delay has insured the banks from any panic, that the confidence of depositors has been restored and that the banks have had ample time to prepare for any run on them.

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SAVED FROM FIRE

/ SAN FRANCISCO, May 18.-Over one thousand persons, each wearing an anxious and worried look, and impatient to examine papers and valuables deposited in the vaults of the California Safe Deposit & Trust Company, stood in line yesterday, awaiting the opening of the vaults when the brick and debris had been cleared away. The contents of the boxes were found intact and most of the depositors left their valuables in the compartments. The Anglo-California also opened its vaults, and found books, papers, currney and coin in perfect condition. At a meeting of the clearing house committee yesterday it was decided that the commercial bank of this city will open for regular business next Wednesday. It is believed that the extended delay has insured the banks from any panic, that the confidence of depositors has been restored and that the banks have had ample time to pepare for any run on them.

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PREPARES FOR EMERGENCY Goldfield Banks Import $750,000 From the East During Earthquake Excitement By Associated Press. GOLDFIELD, Nev., May 19.-Threequarters of a million dollars in gold was imported from the east in anticipation of a run on Goldfield banks, but not a cent was needed. There was not the least semblance of a run on the opening of the banks and there is more gold now in Southern Nevada banks than at any time in their history. The reopening of the San Francisco banks on May 23 will release $2,000,000 of Nevada money, most of which was being used in the mining business. Today the Goldfield banks resumed loaning money on mining and other securities and as a result there was a general revival of prices in mining shares and a tremendous business was transacted on the mining stock exchange. The Goldfield News today transmitted $4750 to James D. Phelan, chairman of the relief committee at San Francisco, the proceeds contributed by the citizens of Goldfield to the fund started by that paper.

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In a Condensed Form for Our Busy Readers.

A Resume of the Less Important but Not Less Interesting Events of the Past Week.

A general strike threatens Russia.

Graft exposures are injuring American trade abroad.

The Russian premier will refuse the demands of parliament.

A number of aged Chinese made destitute by the San Francisco fire will be sent home by their countrymen.

A severe wind and rain storm which has swept Texas resulted in seven deaths and great loss to wheat, oats, corn and other crops.

The Standard Oil investigation at Cleveland, Ohio, shows that independent oil companies were driven to the wall with the help of railroads.

Cold rain at San Francisco has made camp life disagreeable. It is feared throat and lung trouble may develop among the less robust as a result.

Two men have been convicted in Kansas City of giving freight rebates. Georg H. Crosby, traffic manager of the Burlington, tried at the same time, was acquitted.

The Interstate Commerce commission investigation at Philadelphia into alleged discriminations by railroads shows that those companies refusing to give stock to the railway officials had been practically ruined.

Rival factions in Russia are brewing a revolution.

Many Chinese are being smuggled onto the canal zone.

Russia is sending hundreds of political prisoners to Siberia.

An American woman will climb the highest peak in the Andes.

The Denver city election contest may be carried to the federal courts.

Opponents of Smoot are seeking to drag Roosevelt into this quarrel.

The union of the Cumberland and Presbyterian churches has been completed.

Many gala day festivities have been arranged in Spain in connection with the wedding of King Alfonso.

Great Britain denies that an agreement exists with Russia affecting Persia, Thibet and Afghanistan.

Two young natives of India have entered the Oregon Agricultural college to study American scientific farming.

Chairman Tawney of the house appropriation committee, believes a large majority of the house favors a lock canal.

There is a rumored alliance of Russia, Austria and Germany.

Forest reserve states are to get a share of the timber revenue.

The movement to expel Smoot from the senate has been abandoned for this session.

The pope is greatly improved. He laughs at the idea of his life being endangered.

More bodies are being found by laborers clearing away the debris in San Francisco.

Three Turks have been arrested on suspicion of having murdered Consul Stuart in Russia.

San Francisco banks have opened for business and are receiving more money than they pay out.

The injunction against the union of the Cumberland with the old Presbyterian church has been denied.

Louisiana doctors claim to have found a cure for leprosy, having cured three sufferers from the dread disease.

George F. Baer, president of the Reading road, says there is no grafting among the officials of his line, as they are above such things.

Miss Nance O'Neill, the actress, has become bankrupt through the San Francisco disaster. She lost all her scenery, costumes and stage effects.

Torrents of mud from Vesuvius are causing death and panic.

Marines are being rushed to Panama to avert a revolution at the time of the general election, June 20.

Estimates have been made for continuing work on the Panama canal to June 30, 1907. The total amount is $26,348,231.

S. A. D. Puter, wanted in Portland in connection with the Oregon land fraud cases, has been captured in Ala

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THE CALIFORNIA SPIRIT.

Reports from San Francisco indicate that the work of reconstruction is being pushed forward rapidly and with enthusiasm. Californians have recovered from the shock of the appalling disaster and are determined that the city shall be rebuilt and on the most improved methods. They hope to make the great metropolis of the Pacific coast a larger city than ever before. The best achitects in the world have been called upon for ideas, and so far as is humanly possible the danger from a similar catastrophe will be reduced to a minimum. As was in the case with Chicago after the big fire and Galveston after the tidal wave, their efforts will no doubt be crowned with success. A most hopeful sign was the reopening of the banks of the city a few days ago with more money on hand than before the earthquake and fire. It was expected that there would be a "run" on all the banks, but this did not materialize. In fact, it is claimed that the deposits are exceeding the withdrawals. A recent bulletin issued from San Francisco takes an optimistic view of the situation. It says:

"California is prosperous; it is a year of bumper crops; the fruit promise is good and all business is on a sound basis. Perhaps no city in the land was better able to withstand such a catastrophe.

"The ability to cope with a disastrous situation was strikingly shown. In no other instance of a calamitous fire was a city so quickly placed under control. There was entire harmony of action between the state and the city authorities, and the response in the cities round about was prompt and helpful.

"The story of each day as it passes is full of encouragement. While temporary offices and store rooms are going up, the owners and architects are busy planning permanent structures, building laws are being shaped, the widening of streets discussed, and every feature of the situation as concerns a new and strong city is well in hand.

"The work of reconstruction will be done in the best manner. As far as human skill can do it, the city to rise will be safe-guarded for the future. The Citizens' committee is large and able and is supported by the people in the determination to make the most of the city architecturally.

"The secretary of commerce and labor, Victor H. Metcalf, said: 'There has been no depression, no pessimism - the undaunted spirit of the Californian is ubiquitous.' And one of the foremost bankers of the city said that San Francisco 'would be rebuilt in the shortest possible time, and be a greater, better and wealthier city than before.'

"Real estate values are an index. A year ago prominent citizens paid $800,000 for the Lick House and other properties of the Fair estate. Since the fire this syndicate is creditably reported to have refused a large advance for the naked ground.

"Several large sales negotiated prior to April 18 have been consummated, more sales are reported and negotiations are in progress for others.

"Hundreds of millions will be available for investment. Street railways, telephone, government buildings, the extension of the sea wall, the available city bonds of 1904, will provide more than $200,000,000 for rehabilitation. Private capital and money derived from insurance will increase this sum two fold. In the whole history of America no such opportunity was ever before offered to men of enterprise and courage. A great building era will affect every section, and California may anticipate years of unprecedented business activity and business profit.

"A lesson in methods of construction is being learned, and careful observation shows poor foundations, yielding ground, rotten wooden supports of old houses, poor concrete, stone veneers, gables unsupported and much faulty methods of building. The tall buildings, all of which remain substantially unharmed, though interiors are burned out, are so many object lessons.

"All this will be taken into account, and the experience will result in making San Francisco and its neighbors the safest cities in the world in which to reside."

THE "BIGGEST SHIP."

Not only is there keen competition among the great ocean transportation

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San Francisco Banks Open.

Secretary Shaw said at New York Tuesday that he had word from San Francisco to the effect that the situation there had become so well settled and confidence was so thoroughly restored that the banks did not consider it necessary to avail themselves of his offer to increase government deposits. A run, he thought, was unlikely, but if it should occur the government would lend immediate aid. When the banks resumed business Wednesday they had in their vaults $45,000,000 more than at the time of the earthquake, this being the amount transferred from other financial centers.

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San Francisco Banks Open.

Secretary Shaw said at New York Tuesday that he had word from San Francisco to the effect that the situation there had become so well settled and confidence was so thoroughly restored that the banks did not consider it necessary to avail themselves of his offer to increase government deposits. A run, he thought, was unlikely, but if it should occur the government would lend immediate aid. When the banks resumed business Wednesday they had in their vaults $45,000,000 more than at the time of the earthquake, this being the amount transferred from other financial centers.

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Banking by Au quired (By Russell Lowry, American National their h Bank of San Francisco, in the Com"Not merce Monthly.) steering Any gold? rolled Any coin? once o Any greenbacks, notes or silver today? trying There's a big bank auto a-comin' this record way. went w The above sentiment was irresistibly Mussed suggested to me when I first encounawful, tered the latest device in banking in hospital regenerated San Francisco-a receivcaved i ing cage on wheels. Think of the Wher haughty and dignified tellers you have place I met in the east, and imagine them godown tl ing about from door to door, from ofhappen fice to office, collecting deposits and One taking orders for drafts, after the maneven a ner of a grocer's clerk! CO cust But out here in 'Frisco we haven't ple for had time to cultivate dignity and haularly go teur since the little unpleasantness of tensivel a year or so ago. New conditions arissally as ing have called for new methods, and of Chic the proverbial conservatism of the city a hund of the Golden Gate has suffered some out of severe jolts. for his This particular innovation in bankthat a ing came into vogue soon after the big tain da) earthquake and fire of April, 1906. At cisco that time most of the big banks were chances in the vicinity of California and Montto the $ gomery streets. Although their buildpay the ings were badly damaged-in some inCurre stances totally destroyed-by the fire, paper n all the banks were ready to resume culation business within a month. and nearly all ple, ver in their former locations. its circ Then a peculiar difficulty arose. For age Ca three-quarters of a mile in every diand re rection from the financial district many y nothing remained but charred ruins. out of Such few stores and office buildings as islation, escaped total annihilation were unfit these b for occupancy, and the customers of of the the banks were scrambling for quarters this da; on Van Ness avenue, or in the untheir o burned residence district beyond. Cars but ser were running on but few lines, and dents i heaps of broken brick and stone in the prejudi streets made walking or driving diffiGold cult. The banks found themselves isoThe bui lated. Some solved the problem by in the establishing branches on Van Ness coin, mi avenue. Those holding national charwas sil ters, however, were barred from adoptpaper ing this plan, and they faced the prosthe rela pect of losing some of their best cusmedium tomers, whose loyalty could hardly be house i expected to stand the strain of constant inconvenience. in gold the fire In this emergency the idea bf the gave te "automobile run" was evolved. The house, American National bank bought a runsee a d about of sufficient power to negotiate and dis the littered streets and rugged hills of stooped the city, equipped it with a strong box sengers and sent a man out each day to collect ly anot the deposits of remote customers. The with ot latter saw at once the advantages of the gole the system and showed their appreciait to an tion. Some who had strayed from the about ( fold returned when the new scheme was bersom presented to them, and a number of the eas entirely new patrons were secured. custom Before the end of the summer several wonder of the large banks were using this An in method, and each morning a little pro"steame cession of gasoline buggies started in when I irregular file up Sutter street to the den sw new business area. Some of the older the mo financiers, clinging to the time-honored long I idea that Mahomet should come as a nental humble suppliant to the mountain, mail st gasped with astonishment when they ma, wa saw the mountain journeying on rubin San ber tires to the abode of Mahomet. But had en they finally admitted that the exigentances cy demanded unusual measures. necessa When vacation adjustments shifted could t me into the "automobile run" for a few Alert e weeks I welcomed the opportunity. tercept Riding about in an automobile and ors am gathering up other people's money eastern struck me as being a singularly pleascame ant form of occupation. Besides, being came a recent arrival on the coast, I wanted As con to get acquainted with the city. So mail si I armed myself with a pair of goggles, 13th ai a linen duster and a .38-caliber sixthese ( shooter and fared forth to corral the out the wealth of the town, or SO much of it as still se was peaceably proffered. designa In the main. it was pleasant enough. for nes Summer days in San Francisco are train } never too hot and rarely too cold, and craft, rain is practically unknown from May depart to October. There are some disagreething I able features, of course. The trade After winds which sweep in from the Pacific with every afternoon stir up vast clouds of er day, dust in certain unsprinkled streets of antiqua the burned area, and there are days quarter when the fog is chilling. But these practic drawbacks are more than outweighed by the bright sunshine, the soft Caliearthqu people fornia air, and the occasional glimpses day," from many hills of San Francisco bay, tion of dotted with steamers and tall-masted Effor ships, and bordered by the green slopes method of the Coast range. vails i The hills caused me some trepidation house at first. As everybody knows, they are ally or both numerous and steep in San Fransound cisco. Going up on the high-ear I did quently not mind. But the descent was differprobab ent. My chauffeur, Harry McMichaels, throug an old-time bicycle rider of renown, than ii would dislocate the sparking plug, or the Un whatever the thing is, steer the wheels

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BANKS AND BANKERS.

SAN FRANCISCO, Cal., November 2.—All the banks of San Francisco opened their doors as usual today. Gov. Gillette called a conference of members of the clearing house association and leading financiers. He says that for the present the legal holiday will be continued from day to day until it is certain that no danger from a money panic exists in this state.

LINCOLN, Neb., November 2.—Secretary E. Royse of the banking board stated today that the Commercial State Bank of Grand Island is solvent and should not have closed. He believed the bank would open next Tuesday. He has been informed that $25,000 is now on the way from Chariton, Iowa, to cover half of the loan to the First National Bank of that place. B. F. Clayton of Chariton, Iowa, is president of the Grand Island bank.

ST. LOUIS, Mo., November 2.—Little blue, yellow and green slips of paper in denominations of $1, $5 and $10 were put into circulation as money today by the National Bank of Commerce, the Third National Bank and the Mechanics' American National Bank. These differed from the cashiers' checks which have been in circulation for a week in that they were made "payable to bearer," and that no indorsement or identification was required to cash them.

KANSAS CITY, Mo., November 2.—Half a dozen local banks today began issuing cashiers' checks in amounts of one, two, five and ten dollars, to be used in place of currency and payable to bearer. Clearing house certificates also are being used as formerly. The question of issuing cashiers' currency was considered at a meeting of the principal bankers, and it was decided to leave it to the discretion of the individual banks.