Western National Bank (San Francisco, CA)

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Episode Information

Episode UID
568801276
Episode Type
Suspension → Reopening
Bank Type
national
Bank ID
56880 national
Charter Number
5688
Start Date
April 18, 1906
Location
San Francisco, California (37.780, -122.419)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
f75e90938874fca9

Response Measures

None

Description

OCR errors in sources corrected (typographical word order); Western National explicitly mentioned as having vaults intact.

Events (4)
1. January 21, 1901 Chartered
Source
historical_nic
2. April 18, 1906 Suspension
Cause
Government Action
Cause Details
City-wide suspension/clearing house/temporary banking holiday following the April 1906 earthquake and fire; state/governor and clearing house imposed restrictions
Newspaper Excerpt
all the banks were in ruins and consequently had suspended business
Source
newspapers
3. May 23, 1906 Reopening
Newspaper Excerpt
This morning at 9 o'clock the commercial banks opened their doors for the transaction of regular business again... San Francisco, May 23.-Every bank in this city that has been able to secure temporary quarters threw open its doors to the public today.
Source
newspapers
4. October 31, 1910 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (16)
1. April 22, 1906 The Sun New York, NY
Article from The Sun, April 22, 1906

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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."

2. April 23, 1906 Los Angeles Herald Los Angeles, CA
Article from Los Angeles Herald, April 23, 1906

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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.

3. April 24, 1906 The Herald and News Newberry, SC
Article from The Herald and News, April 24, 1906

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feel certain that the people will to act we with the banks and not try make a run. It was Dangerous Walking in many parts of the financial districts, for the walls and pavements hot and one stood in danger of off his shoes. are scorching very The heat But between the buildings is stifling. The the fire in this part is dead. building of the International Buildand Loan association is a wreck. The ing vaults are bulged, but the officials say that the securities are safe. The and of the London, Paris bank are all underwriters take stock on vaults the American right. When this fire they will probably find that it was not so hot as the Baltimore, and Boston fires. Chicago nearly It floor would damage a building taking a this or two, and pass on. The people lay to the lazy burning of the red wood. On the other hand there were centers of the fire whirlwind where everyruined. thing seemed to be fused, melted and Proceeding Up Market Street toward the ruined City Hall, I found the Grand Hotel razed to the ground. The walls of the Palace hotel are but the building is a loss. building is gone. standing, The Examiner building, The the steel frames of the Call highest in the city, saved it, and fire in its interior seems to have stopped short of its top. They may be able to save the walls. The ground floor, Pawhere the National bank of the cific was housed, is a complete wreck. their It is not possible to get at vaults owing to the wreckage. The Parrott building, containing the Emporium, the largest depart The store in the west, is gone. wall and a part of a the rest are ment front are gone, down. side This wall contained the quarters of the sucourt of California and the on the coast. best preme library The records Beand the library are destroyed. tween these big Market street build- old ings were a lot of small and structures of brick. The fire played ducks and drakes with these. Most of them cast the walls in the street and Market street all along is piled with hillocks of broken bricks, over which teams and pedestrians climb. In spots the soldiers were making idlers work, clearing a passage, but there are not enough soldiers just now to make the work effective. The New James Flood Building, Market and Powell streets, on the at the Baldwin hotel, burned ago, stood it site eight of years better Market than other big structure on 'street. any There is a little damage to the office of the Western National the ground, but its vaults even warm. are bank not on The the vaults fire were had opened on Friday, after passed that part of the city. Everywas all right and the time lock for Monday. The was thing set vaults re- of the Mercantile Trust company are ported safe. The same seems true of Deposit The Pacific Mutual ny. the California Trust Life building compa- buildand the Italian Marine bank ing are total losses, but the directors of the Italian bank say that they are not afraid of the condition of the vaults. About the same thing may be said of the Germania Savings bank and the San Francisco Savings Union, next door, on Kearney street. On Saturday afternon there were two conferences of Savings Bank Representatives. at the home of John Martin. They discussed the amount of cash on hand and the amount of Eastern holdings immediately convertible. Monday at 10 o 'clock I will meet for morning ployees all instructions. bank Interna- emWill High, manager of the tional Banking corporation, removed amount of specie to Oakland in an under a on tail large Saturday of marines, automobile. command A de- of Lieut. Lang, accompanied him. He offered Gen. Funston an advance of cash until the government funds ar-

4. April 25, 1906 The Sun New York, NY
Article from The Sun, April 25, 1906

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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

5. April 29, 1906 The Sun New York, NY
Article from The Sun, April 29, 1906

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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

6. May 5, 1906 Los Angeles Herald Los Angeles, CA
Article from Los Angeles Herald, May 5, 1906

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BANKS READY TO OPEN SAFES Millions of Dollars Will Await San Francisco Depositors Next Monday Morning By Associated Press. SAN FRANCISCO, May 4.-The Crocker-Woolworth bank and the Union Trust and Mercantile Trust companies will open their safe deposit boxes on Monday morning next. These three banks are opposed to keeping their customers any longer in delay. The city treasury opened for business this morning at the Western National bank in the James Flood building. Conditions were normal in banking circles; there were no panics or long lines of persons waiting to withdraw money. Many of the banks claim that since they opened for business their deposits have exceeded their withdrawals. A prominent banker said today that he felt sure that before the end of the month all commercial banks would resume their regular banking business.

7. May 11, 1906 The Daily Morning Journal and Courier New Haven, CT
Article from The Daily Morning Journal and Courier, May 11, 1906

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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.

8. May 18, 1906 Deseret Evening News Salt Lake City, UT
Article from Deseret Evening News, May 18, 1906

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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.

9. May 19, 1906 The Morning Astorian Astoria, OR
Article from The Morning Astorian, May 19, 1906

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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.

10. May 20, 1906 Los Angeles Herald Los Angeles, CA
Article from Los Angeles Herald, May 20, 1906

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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.

11. May 23, 1906 The Spokane Press Spokane, WA
Article from The Spokane Press, May 23, 1906

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SAN FRANCISCO BANKS ARE OPEN FOR BUSINESS window the heaviest run of any of the down town banks was made there. All demands, however, were paid in full. People Stand In Line To Take Their At the Crocker Woolworth bank over $50,000 in gold coin was paid in before 11 o'clock. Withdrawals Money Although No Apprehension Is were very small. At the Union Trust company deFelt by them. posits exceeded withdrawals tenfold. The committee on a special seso'clock and at 9 it extended down SAN FRANCISCO, May 23.sion of the legislature today decidThis morning at 9 o'clock commer- Jones street and then down Golden ed against the proposed legislation cial banks opened their doors for Gate as far as Market and back to extinguish $17,000,000 worth of the transaction of regular business again towards Jones. Old women, unsold San Francisco bonds. Asunhampered by clearing house re- young clerks, begrimed teamsters surances were received from finanstrictions. Gold in plenty filled the and pretty stenographers, were ciers that the present standing of vaults and there is as much money there, all as cheerful as a crowd of bonds are salable and the money in the banks today as ever in the theatergoers waiting their turn at was needed immediately for buildhistory of San Francisco. The the box office. ings, sewers, repairing streets, etc. stability of the financial situation A young fellow in working The Merchants Exchange resumis such that there is not the slight- clothes stepped out of line to give ed business this morning in the est evidence of a money panic and his place to an aged woman in a rotunda of the damaged building. every bank in the city is now in shawl who tightly hugged to her There was a large crowd of traders a position to meet all obligations breast her little yellow covered and considerable business was without undue strain. book, and others followed suit, and transacted. While the official date for the soon the woman was far up the

12. May 23, 1906 East Oregonian : E.O Pendleton, OR
Article from East Oregonian : E.O, May 23, 1906

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San Francisco, May 23.-This morning at 9 o'clock the commercial banks opened their doors for the transaction of regular business unhampered by clearing house restrictions. Gold in plenty filled the vaults and there is as much money in the banks today as ever in the history of San Francisco. The stability of the financial situation is such that there is not the slightest evidence of a money panic, every bank in the city now being in a position to meet all obligations without undue strain. While the official date for the formal opening of banks is next Monday, many savings institutions opened this morning. The Mutual Savings bank opened for unrestricted business with $20,000,000 in money and active securities in the vaults. The California Safe Deposit & Trust company opened at its old quarters at the corner of California and Montgomery streets. This bank is one of the first to have temporary quarters completed. The Humboldt bank opens tomorrow morning. About 30 per cent of the Humboldt's loans were in the burned district, and the bank announced it will return all its insurance money to borrowers for rebuilding purposes. With no more rush or excitement than usually attended the settling on a day before the fire, the Hibernian bank, the city's largest savings institution, thre wopen its doors at 9 this morning. Every look and every action of the hundreds in line before the doors opened betokened confidence. The line began to form at 6:45. At it extended down Jones street and then down Golden Gate as far as Market and back again towards Jones. Old women, young clerks. begrimed teamsters and pretty stenographers were there, all as cheerful as a crowd of theater-goers waiting their turns at the box office. A young fellow in working clothes stepped out of line to give his place to an aged woman in a shawl who tightly hugged to her breast her little yellow-covered book. Others followed suit, and soon the woman was far up the line. Many brought lunches and stools and prepared for a long wait. When the doors opened the first 10 persons were told off and allowed to enter. Two paying tellers had their money benches heaped with gold and quickly passed out the coin. Few withdrew their total deposits, and

13. May 24, 1906 East Oregonian : E.O Pendleton, OR
Article from East Oregonian : E.O, May 24, 1906

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San Francisco May 24.-At a secret meeting of the board of fire underwriters held at Oakland, definite action was taken in the matter of fixing insurance rate for San Francisco. It was decided to double all rates. Some members favored fixing different rates for the burned and unburned sections, but a flat rate for the entire city was finally decided upon and all special rates abrogated. The lines of depositors around the savings banks are materially smaller today, and more deposits were made than withdrawals. As a result of the opening of banks for unrestricted business building operations are given a great - impetus. The construction of scores of new frame buildings begun this morning. Banks All on Solid Ground. At the Market Street bank the line at the paying teller's window was smaller than at the receiving teller's The same was true at the Western National bank and National Bank of the Pacific. Deposits at the Mutual Savings bank were comparatively small, and judging from the line at the paying teller's window. the heaviest run of any of the downtown banks was made there. All demands, however. were paid in full. At the Crocker Woolworth bank over $50,000 in gold coin was paid in today before 11 o'clock, while the withdrawals were very small. At the Union Trust company the deposits exceeded the withdrawals tenfold. Protest Cancelling Bonds. The lobby committee on special session of the legislature today decided against the proposition for the legislature to extinguish $177,000,000 worth of unsold San Francisco bonds. Assurances are received from financiers that the present outstanding bonds are saleable. and the money is needed im-

14. May 24, 1906 New-York Tribune New York, NY
Article from New-York Tribune, May 24, 1906

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'FRISCO BANKS OPEN. No Scarcity of Money and No Rush For It. San Francisco, May 23.-Every bank in this city that has been able to secure temporary quarters threw open its doors to the public today. There was no semblance of a run. Never in the history of San Francisco was there so much bank money on hand. Last week money poured into the local financial institutions from all parts of the world. Superintendent Leach of the United States Mint has received many large transfers from Eastern and European centres. The total to date has not been computed, but several days ago it exceeded $30,000,000. The last transfer consisted mostly of large sums for the savings banks. When their doors opened this morning, however, they had no need to depend upon money received from outside sources. Institutions like the Hibernia, the Humboldt and the Mutual had millions in coin and valuable securities in their vaults, which were undisturbed by the fire. The Hibernia, it was reported, had $15,000,000 in United States bonds and $10,000,000 in other gilt-edge securities, together with millions in coin. Among its depositors are many workingmen and women. Most of them lost their all in the fire, and at an early hour they began to line up before the bank's doors. By 9 o'clock the lines were over a block long, and the police were summoned to maintain order. Their duties, however, consisted of little more than keeping the patient men and women in line. Features were stamped with expectancy rather than with worry, for confidence in the bank's ability to pay in full was not questioned. Over the shattered bank building an American flag floated in the sunshine, and when the doors swung open the shuffle of feet in the long line was accompanied by the clink of gold. It was music to these men and women, who once feared the accumulations of a lifetime had been swept away. The bank paid without limit. The Chinese Minister from Washington, Chentung Liang Cheng. escorted by Mayor Mott of Oakland, came to this city and called on Mayor Schmitz at the Century Club yesterday. The visit was brief, and after the exchange of a few compliments the Oriental diplomatist was taken to the temporary Chinese quarter near the Presidio and to Hunter's Point, that he might view the site where it has been proposed to locate the new Chinatown. Secretary Henry J. McCoy, of the Young Men's Christian Association, will leave to-day for the East to raise money for the rebuilding of the Young Men's Christian Association home in this city. The prominent San Francisco men who comprise the institution's board of trustees have instructed him to collect $100,000 from Young Men's Christian Association branches in the East and to see if fifty wealthy people in various large Eastern cities will not agree to give $5,000 each, or a total of $250,000.

15. June 7, 1906 Wood County Reporter Wisconsin Rapids, WI
Article from Wood County Reporter, June 7, 1906

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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.

16. June 12, 1906 Wausau Pilot Wausau, WI
Article from Wausau Pilot, June 12, 1906

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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.