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'FRISCO GETTING RIGHT AGAIN.-The San Francisco stock board will reopen for business on Tuesday next. The Farmers' and Merchants' bank of Los Angelos, which suspended at the same time as the Bank of California, resumed business vesterdav, and Temple and Workman's bank of the same city, will probably reopen to-day.
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A Bank Resumes. Los ANGELES, Oct. 1 The doors of the Farmer's and Mechanics' Bank were opened this morning for general business. Preparations had been made to-day to pay all depositors in case a run was made, but nothing of the kind occurred, and by noon deposits came in freely. The Bank of Temple & Workman has virtually resumed payment, but the formal opening is delaved pending the arrrival of President Temple from San Francisco. Confidence is completely restored.
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San Francisco, October 1.-Naval paymaster, J. S. Cunninghan, arrived here last night, to relieve paymaster Spaulding. A court of inquriry will assemble at Mare Island, on October 5th, to examine Spaulding's accounts. The latter is supposed to be involved by the peculations of G. M. Pinney, late purchasing clerk. Admiral Rogers, of the Mare Island navy yard, states that he does not know the amount of the defalcation, but it is supposed to be very large. Spaulding, last night, stated that the loss will fall on individuals, not on the department, that Pinney's frauds consisted in fraudulently filling up certificates for the payment due on contracts which had been signed in blank by Spaulding and hypothecating them to certain parties, with notes of responsible parties attached and that the makers and endorsers of notes will be liable. Spaulding claims that he knew nothing of the transactions until the certificates were presented for payment. Official aunouncement is made that the San Francisco Stock Board will open for regular business next Tuesday, at 11 a. m. The Pacific Exchange will resume at the same hour. The Farmers & Merchants' bank at Los Angeles, which closed on the suspension of the Bank of California, resumed to-day and the Temple & Workmans bank, of that city, will probably reopen to-morrow. It. is now said that the peculations of Pinney, the defaulting clerk of the navy department, will amount to over one million. Paymaster Cunningham entered upon the duties of his office to-day, vice Spaulding relieved.
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SAN FRANCISCO. COMPROMISED AT FIFTY CENTS. SAN FRANCISCO, October 1.-At an adjourned meeting this afternoon of the creditors of Charles Clavton & Co., a statement was submitted showing that the liabilities of the firm amounted to $340,078 99; assets $352,471 70, composed chiefly of outstanding debts, the larger portion of the assets being bad or doubtful. The firm then made a proposition to pay the creditors 50 cents on the dollar in two equal installments, payable in six months, which was accepted, and the business of the firm will be resumed. It 18 understood that if any surplus arises above the terms of settlement it will be divided pro rata among the creditors, but this forms no part of the contract. REOPENING OF BANKS AND EXCHANGES. The official announcement is made that the San Francisco Stock Board will open for regular business next Tuesday, at 11 A. M. The Pacific Exchange will resume at the same hour. The Farmers and Merchants Bank of Los Angelos, which closed on the suspension of the Bank of California, will resume to-day, and the Temple & Workman's bank of that city will probably reopen to-morrow. THE PECULATIONS OF PENNEY. It is now said that the peculations of Penney, the defaulting clerk of the Navy Department, will amount to over n million of dollars. Paymaster Cunningham entered upon the duties of his office to-day, vice Spaulding relieved.
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Los Angeles Herald THE DAILY and WEEKLY HERALD has more than double the circulation of any other paper published in Southern California. Business men recognize it accordingly as the best advertising medium South of San Francisco. SATURDAY, OCT. 2, 1875. NEWS OF THE MORNING. The Bank of California resumes business to-day. The Farmers' and Merchants' Bank of this city commenced operations yesterday with full trays. There was not the slightest run, and when the Bank closed, at 4 o'clock, the books showed that three dollars had been deposited for every one drawn out. One thousand Turkish troops are concentrated on the frontier of Servia, and a collis. Ion with the Insurgents is imminent. The New York Spirit of the Times has changed proprietors, E. Black, of Buffalo, succeeding Geo. Wilkes. The Anglo-Chinese trouble is assuming formidable dimensions. The British Minister was to leave Pekin yesterday If his demands were not acceded to. The Department at Washington has been formally notified that the Indians on the Alyea and Siletz Reservations, Oregon, are being removed to lands set apart for them North of Salmon river. Generals Chilton and Ould publish letters fully exonerating Jeff. Davis from any knowl. edge of the Andersonville outrages. A special from the Red Cloud Agency says the Council closed on the 29th with the abandonment of negotiations by the Commissioners. Jacob Richards, of Sacramento, fell into China Slough yesterday and was drowned. Seven car-loads of emigrants arrived at Sacramento yesterday. The New York Herald comments editorially on the action of the Anglo Telegraph in increasing its charges again to one dollar in gold per word. It says that the burden is none the more agreeable because it is imposed by a company that has risen on the cry of monopoly. Commander G. Schultz. of the Navy Department, died in New York on the 28th ult. The Stanislaus county fair closed yesterday with some fine racing. Wm. Geller Jr., son of Dr. Wm. Geller, of the Monte,and brother-in-law of H.T. Hazard ofthis city,was thrown from a stage in Santa Monica last evening and seriously injured. Governor Bradley, of Nevada, is lying dangerously ill at Elko. At Rome yesterday Cardinal McClosky took possession of his title in the church of Santa Maria. Many Americans witnessed the ceremony. In San Francisco J. Berry is on trial for the murder of his father. The capital stock of the London and San Francisco Bank is to be increased from $3,000,000 to $5,000,000 on the first of January. President Grant was in Omaha yesterday. The telegraph gave a batch of Indian rumors last night. The banking house of Percy S. Wilson, of Cheyenne, suspended yesterday. The lumber firm of Shepard, Hall & Co., Boston, failed yesterday, with liabilities of $1,000,000. Beecher will breach in Plynmouth Church
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Pacific Coast. I SAN FRANCISCO, Oct. 1.- Notice was given last evening by authority of the Board of Directors that the Bank of California will be open for business on Saturday morning at 10 o'clock. Yesterday afternoon AS a number of members of the 3d Regiment N. G. C. were shooting at a target near St. Mary's College, Wm. Lee, who was engaged in marking the target, was shot and instantly killed. He had emerged from the marker S trench to examine the target at the same moment W. P. Byrne fired, the bullet striking Lee in the breast. The usual red flag for 8 danger signal was not used by the marker as a warning, bence the accident. Medical assistance was at once summoned but he died before it arrived. The deceased was a well known citizen, was a member of the police force and one of the organizers of the Montgomery Guard. He was a native of Ireland, aged about 56 years Byrne, who fired the fatal shot, is employed as janitor of the Irish-American Hall. SAN FRANCISCO, Oct. 1.-The executive committee of the San Francisco Stock & Exchange Board met to-day, and resolved that the Board room be open for the transaction of regular business on Tuesday next at 11 a. m. The Pacific Stock Exchange will open for business at 10 a. m. on the same day. The apartments in the Nevada Block designed for the Nevada Bank and the First National Bank will be ready for occupancy to-morrow. Los ANGELES, Oct. 1.- The doors of the Farmers' and Mechanics' Bank were opened this morning for general business. Preparations bad been made to pay all depositors in case a run was made but nothing of the kind occurred, and by noon deposits came in freely. The Bank of Temple & Workman has virtually resumed payment but the formal opening is delayed, pending the arrival of President Temple from can Francisco. Confidence is completely restored. SAN FRANCISCO, Oct. 1. - At an adjourned meeting this afternoon of the creditors of Charles Clayton & Co., statements were submitted showing the 8 liabilities of the firm amounted to $340,078 99, assets $352,471 70, composed chiefly of outstanding debts. A large portion of the assets being bad or doubtful the firm made a proposition to pay a creditors fifty cents on the dollar in two equal installments payable in six and twelve months, which was accepted and I the business of the firm will be resumed. It is understood that if any surplus arises above the terms of settlement it will be a divided pro rata among the creditors, but this forms no part of the contract. y
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THE CALIFORNIA BANKING REVIVAL SAN FRANCISCO, Oct. 1.-The official announcement is made that the San Francisco Stock Board will open for regular business next Tuesday, at 11 a. m. The Pacific Exchange will open at the same time. The Farmers' and Merchants' Bank of Los Angeles, which closed its doors when the Bank of California suspended, resumed business to-day; and Temple and Workman's Bank of that city will probably reopen to-morrow.
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SAN FRANCISCO. NEW YORK, Oct. 1.-The Agency of the Bank of California In this city will pay all outstanding drafts of the bank on and after to-day. SAN FRANCISCO, Oct. 1.-At an adjourned meeting this afternoon of the creditore of Charles Clayton & Co., statements were submitted showing that the liabilities of the firm amounted to $340,078.99 ; assets, $353,471.70, composed chiefly of outstanding debta. A large portion of the assets being bad or doubtful, the firm made & proposition to pay creditors 50 cents on the dollar, in two equal installments, payable lu six months, which was accepted, and the business of the firm will be resumed. It is understood that If any surplus arises above the terms of settlement it will be divided pro rata among the creditors. But this forms no part of the contract. Official announcement is made that the San Francisco Stock Board will open for regular business next Tuesday at 11 a. m. The Pacific Exchange will resume at the same hour. The Farmers' & Merchants' Bank, Los Angeles, which closed on the enspension of the Bank of California, resumed to-day, and Temple & Workman's bank, of that city, will probably reopen to-morrow.
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TELEGRAPHIC. COPENHAGEN, October 1. Count Moltke Bregentoed, who was appointed Minister of Foreign Affairs on the 11th of June last, is dead. MADRID, October 1. A royal decree orders the organization of fourteen new battalions of infantry. LONDON, October 1. A heavy gale is reported at Archanel, Russia. Six vessels, with cargoes of lumber, bound for England, have been wrecked on a bar at the mouth of the harbor. TERRE HAUTE, Ind., Oct. 1. The advocates of more greenbacks are rather staggered by the announcement that the directors of the Na. toinal and State banks are delibera. ting upon a proposition to reduce the circulation $100,000, having more than that amount lying idie, which they cannot use safely. LOS ANGELES, Oct. 1 At 10 o'clock the doors of the Farmers and Merchants' Bank were thrown open, and the full force of that institution were ready to meet an extra demand. Extra trays of gold coin were placed conveniently for payment, while a little bill of boxes of silver was conspieuous. Rows of gold notes and greenbacks flanked the gold trays, all of which seemed, perhaps, needless, except to illustrate the plenty to those depositors who do not want their money if banks have it. Fears of a run, it any were entertained, were all dis. pelled by noon, when deposits began to flow in. The bank of Temple & Workman paid all its checks today, and was virtually, opened though its front doors were closed pending the arrival of its President, Mr. Temple, from San Francisco. Public confidence is restored, and as far as the mercantile community are concerned, the long suspension seems perhaps unwarranted, for public confidence in the soundness of our respective banks bas never been shaken. CONSTANTINOPLE, Oct. 1. Definite arrangements will be concluded to-day between the Porte and Austria relative to a junction of the Turkish and Austrian railway systems, fixing the period when the necessary work shall be begun and terminated. LONDON, October 1. A dispatch from Simlah, dated yesterday, says the Amer of Afghanistan is sending troops to coerce the Miro of Malmund, who, of late, has been refractory. MADRID, October 1. King Altonso opened the Madrid University with a speech, in the course of which he said: "I recog nize the fact that eircumstances are difficult. Education and enlightment can alone regenerate Spain and restore peace. It is painful to me to see the civil war still continue, not-
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MISCELLANEOUS. San Francisco's Financial Troubles. SAN FRANCISCO, Oeteber2-Theeredito: of Charles Clay ton & Co. accept fifty cents on the dollar. The The Stock Board opens to-day. Farmers and Merchants' Bank of Los Angeles opened yesterday The Navy Paymaster's Defalcation. It is said the defalcation in the navy paymaster's department 18 over $1,000,000. The Bank of California. A crowd gathered around the bank, and the president said preparatious had been made to pay all claims not herwise provided for At ten o'clock the street and eidewalks were jammed, and the door swung open amid the cheers of the crowd. Flage were at the mast head. and there was salute firing on Meigs wharf at half-past ten o'co Gold is flowing both ways. and is believe d the deposits will equal, if not exceed, the payments. The Right of Religious Processions. TORONTO, Canada, October A public meeting, held last night, for the purpose of considering processions on Sunday. was very largely attended. A number of prom inent Orangement were present who deliv ered conciliatory epeeches. Mayor Med calf occupied the chair He said it was his duty to see the law carried out against It friends and foes without distinction. Roman Catholic processions were distaste ful to the Protestants of Toronto, they should seek an alt-ration of the law. At present, be assured them, the Catholics had a perfect right to walk in procession. Preparing for Guibord's Funeral. MONTREAL. October The members of L'institut Canadien held a meeting and decided to hold Guibord's funeral on Friday or Saturday of next week. Preliminary arrangements were made to-day. and all the details will be fully carried out A requisition is to be made on the military for assistance. and secret preparations will be deposited in the grave and render it dangerous for meddle rs to disturb the body The superintendent of the institute yester day visited the Protestant cemetery vault. and opening Guibord's offin found the outline of the body still distinctly traceable This is the first time the coffin has been opened since being closed. The Black Hills Treaty a Failure. CHEYENNE, October 2-The commis sioners to treat for the Black Hills have reached Throckmorton. homeward bound The attempt to obtain the hills was a fail are. Death of an Army Surgeon. NASHVILLE, October -Surgeon James F. Weeds, United States army is dead. Obsequies of Ex-President Johnson. Business was generally suspended to-day in honor of the obsequies of ex Preside Johnson. A large number of dist t nguished citiz ns of Tennessee and other States rived to participate in the ceremonies Letters of regret were eived from Secre tary Belknap, Governor Tilden of New York, Whyte of Maryland Garland of Arkansas, and McCreary of Keutucky, Hon. Gideon Welles of Connecticut, Senator Merriman, Adjutant General nd. ex-Governor Letcher of Virginia, Henry C Cary of Philadelphia, and many others. Tue procession comprising thirteen divi sione will move at o'clock under supervision of Marshal-in- Chief Brevet Major General G. Pennypacker, of the United State army: General William V. Richards, of staff and thirty-seven aids. Ex Senator Fowler will deliver the memorial address in Representative Hall evening. Later. The memorial pageant in honor of ex President Johnson was a full and complete success, without disturbance or accident The procession commenced moving at 2:30 P. M. It was the largest turnout of the populace ever witnessed in this city. It was made up of military, civic, mechanics and literary societies, and was two hours pass ng the Capitol. The streets designated as the line of march were crow ded with people early hour. and at two o'clock there were least 30,000 people on the streets. All the public buildings and a large number of business houses and private residences were draped in mouning. The President's salute, twei one guis, was fired at sunrise from Capitol Hill. All the bells in the city and Edgefield tolled from seven to eight o'clock in the morning. During the movement of the procession minute guns were fired: and one every filteen minutes through the day, closing with a national salvo of thirty gune at sunset. Ex-Senator Fowler delivered the memorial address at the Capitol this evening The address was very elaborate, requiring two hours for delivery, and is resume of the ex President's private and political history from his childhood to the grave. He said: "Not unwarned, God suddenly called him to another aphere. Being long afflicted with disease of the heart, known to himself, be was stricken with paralysis in the midst of his family. For a short time he rallied, but the complication with the dieese of the heart terminated in a few days his life, on the thirty first day of July, 1875. Years before be had selected a beautiful mount near Greenville for his burial place. Mr. Fowler spoke of the beautiful spot where the President is laid, and said: "The earth has no grander spot, and it is temple where god might dwell. The warfare rest now in peace. No reverential saorilegious hand will disturb your remains in your harmonious sepulcher. He has passed beyond the reach of envy and calumny. Rivals and enemies can escape from their own corroding tormentors and can do justice to his memory Those whose lives and property his clemency relieved can pay the grateful tribute too long withheld. Buildings for the Centennial. PHILADELPHIA. October -The State of Ohio has commenced the erection of its building on the centennial grounds. Similar buildings will be put up by Maseachueett Connecticut, New York, New Jersey, Penn sylvaria, Delaware, Illinois, Indians, Michigan, Wisconsin, Kaneaa and Missouri. Tue English a mmesion applied for an tension of space in the park for the erestion third building Washington's Headamarters at Newburg. NEWBURG N. Y., October 2-The trustees of "Wasbington's Headquarters," in this city, this morning adopted resolution ordering that the p:operty be closed to the public, and remain closed until the city of lewburg or the State of New York is will. and provide for the protection This was done because funds for the proper Memphia. was heavy
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RESUMPTION OF THE STOCK BOARD - THE LATE FAILURE.- San Francisco, October 1. The official aunouncement is made that the San Francisco Stock Board will open for regular business next Tuesday at 11 A. M. time. The Pacific Exchange will open at the same The Farmers and Merchants Bank of Los Angeles. which closed its doors when the Bank of California suspended, resumed business to-day, and Temple & Workman's bank, row. of that city, will probably reöpen to morIt is now said that the peculations of Pinney, the defaulting clerk of the Navy Department, will amount 10 over $1,000,000. Charles Clayton & Co. made a sta: ement to-day showing their liabilities to be $340.078. and assets $352,471, composed chiefly of outstanding debis. The firm made a proposition to pay finy cents on the dollar, which Was accepted by the creditors.
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Dispatches received from London at the office of the direct cable company state that the steamer Faraday will leave there Wednesday to repair the break in the cable. The Company states that there is no truth in the report that an agreement has been arrived at with the Anglo Company on the subject of tariff. The direct cable company maintain their entire independence. They will fix the rates on the reopening. The agency of the Bank of California here will pay all outstanding drafts of the bank on and after to-day. WASHINGTON, Oct. 1.-PostmasterGeneral Jewell has written to the polits ical managers in Alabama that he must have good men for appointments to responsible places and prefers good Democrats to bad Republicans. Senator Bayard's friends are manifesting much activity in presenting his claims for the Democratic Presidential nomination. SHANGHAI, Oct. 1.-Mr. Wade, British Minister, has intimated to the Chinese Government if his demands are not complied with to-day he will leave Pekin. CONSTANTINOPLE, Oct. 1.-Instructions have been sent to Server Pasha to receive reports of foreign consulates but not to enter into any negotiations with them. A telegram from the Governor of Bosnia announces that in consequence of the advantages recently gained over the insurgents, telegraphic eommunication has been established between Navesinge and Gatchke. LONDON, Oct. 1.-This evening the Pall Mall Gazeite has a special from Berlin containing the following: It is reported that the Northern powers have agreed upon the acceptableness of the proposals made by the Herzegovnian insurgents and regard them as a satisfactery basis for further negotiations. VIENNA, Oct. 1.-Several sanguinary engagements have taken placein Herzegovina between a body of 1,200 insurgeuts and 4,000 Turks. The insurgents lost 56 men and estimated the loss of the Turks at 500. On account of their superior numbers the insurgents were obliged to retreat. A dispatch says Servia has summoned all her subjects-abroad to return within three weeks and join the landwher. LONDON, Oct. 2.-Accounts of the fight at Klekek are conflicting. The Daily News special from Ragusa says three battalions of Turks were totally defeated and 65 beheaded. SAN FRANCISCO, Oct. 1.-The executive committee of the San Francisco Stock and Exchange Board met to-day and resolved that the board room be opened for the transaction of regular business on Tuesday next at 11 A. M. The Pacific Stock Exchange will open for business at 10 A. M., on the same day. The apartments in the Nevada block designed for the Nevada bank and First National bank will be open for occupancy to-morrow. Los ANGELES, Oct. 1.-At 10 o'clock the doors of the Farmers' and Merchants' bank were thrown open and the full force of that institution were ready to meet any extra demand. Fears of a run, if any were entertained, were al₁ dispelled by noon when deposits began to flow in. The bank of Temple & Woodman paid all their checks and were virtually open, though its doors were closed pending the arrival of its President, Mr. Temple, from San Francisco. SAN FRANCISCO, Oct. 2.-The Bank of California opened at 10 A. M., amid cheers of a multitude of people. Salutes being fired in honor of the event. Best feeling prevails. Money flowing in from both paying out and deposits.
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we consider that Los Angeles is only a city of 60,000 people, and that there are SO many other banks, not only in the city but in the county-while to meet this liability, there are in its vaults available cash assets of nearly $3,000,000, with first-class securities aggregating over $5,000,000. The true significance of the Farmers' and Merchants' Bank is not told in this array of figures, impressive as they are. While it has always been known as a great power for good in Los Angeles, and while it has carried scores of useful citizens through periods of depression to prosperity, and often to large wealth, it has been emphatically a conservative institution. Only once in its history did it encounter an interruption to its splendid career of success. That was immediately following upon the failure of the Bank of California, in September, 1875, when, in common with all the other banks of Los Angeles, for a very brief period it suspended payment. At that time Mr. Hellman was in Europe, and he at once hastened home and placed the bank upon a more secure footing than had been known in its history. At that time all the monetary matters of Los Angeles were subordinate to those of San Francisco, and when Ralston plunged into the bay, and the leading bank of the metropolis went down temporarily, it was only natural that Los Angeles, a tributary city, should share in the shock. It is perhaps owing to a keen recollection of that time of peril that it has been the polity of the bank to keep on hand an immense surplus. The proportion of available cash assets in the Farmers and Merchants' Bank to liabilities is perhaps not rivalled by half a dozen banks in the United States. Studieus avoidance of speculation, with a sagacious management of its opportunities for making money, have made the Farmers and Merchants' Banks one of the model financial institutions of the United States. A glance at the directorate and a knowledge of the standing of the stockholders will convince anyone that for stability and reliability no bank in existence affords guarantees of a higher grade than are enjoyed by its depositors and patrons.