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STANFORD AVERTED A PANIC. The Dead Senator's Last Service to Call. fornia Business Men. SAN FRANCISCO. June 23.-The closing of the Pacific Bank and the People's Home Savings Bank this morning caused some excitement. but the only serious run was on the San Francisco Savings Union. which. however, paid all depositors who asked for less than $1,000. Those who wanted more had to give thirty days' notice. The commercial banks have been heavily fortifled within the last three days. as they have been able to draw money from the Sub-Treasury against balances in New York. This privilege. which saved San Francisco from a panic, was the last service rendered by Senator Stanford. He made a personal appeal by telegraph to President Cleveland on June 20, and Mr. Cleveland at once ordered Secretary Carlisle to receive gold certificates as convertible currency at the New York Sub-Treasury and permit the payment in like amounts at the San Francisco Sub-Treasury. This saved transportation that would have consumed six days. Had Mr. Stanford not interfered the banks here would have been caught with small reserves. and a disastrous panic would have resulted. Conservative bankers express little hope of the resumption of the Pacific Bank It is involved in too many speculative schemes on which no money can be realized for years. if at all. On top of about three millions scattered among California schemes. the bank has borrowed $400.000 from New York banks. and it owes considerable on foreign certificates of deposit. These certificates are issued in New York, and interest is paid on coupons. The small schemes. running from $10.000 to $50,000 on which the bank has lost money. are counted by the dozen. The People's Home Savings Bank will pull through. as several of the directors are rich men. and R. S. McDonald of the Pacific Bank to-day transferred to them the Pacific Bank building. worth $200,000. his residence. and other valuable real estate, and reports from Southern California show better feeling. but in San Bernardino the First National Bank closed after a severe run of five days.