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OLD BANK CLOSES. First Bank Established in Town Forced to Suspend By the Commissioners. San Luis Obispo, Calif., Jan. 25.The bank of San Luis Obispo, the oldest of its kind in the city, closed its doors this morning by order of the bank commissioners.
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BANK SUSPENDS. San Luis Obispo, Cal., Jan. 25.-The Bank of San Luis Obispo closed its doors this morning.
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California Bank Suspends. San Luis Obispo, Cal., Jan. 26.-The Bank of San Luis Obispo, the oldest institution of the kind in this city, closed its doors during the morning by order of the bank commissioners,
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California Bank Suspends. San Luis Obispo, Cal., Jan. 26.-The Bank of San Luis Obispo, the oldest institution of the kind in this city, closed its doors during the morning by order of the bank commissioners.
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California Bank Suspends. San Luis Obispo, Cal., Jan. 26.-The Bank of San Luis Obispo, the oldest institution of the kind in this city, closed its doors during the morning by order of the bank commissioners.
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THE LATEST NEWS BRIEFLY TOLD. DOMESTIC Miss Helen Gould has subscribed $15,000 toward a new Y. M. C. A. building at Tarrytown, N. Y. The body of Thomas Nast, former American consul at Guayaquil, was brought to New York on the steamer Finance from Colon. Operators in the oil fields of Indian a because be as a Territory prevented the fear from Standard continuing suspension Company of activity will buyer and transporter of peroleum through the proceedings instituted in Missouri. Chairman Knapp, of the Interstate Commerce Commission, expresses the belief that the agitation against the railroads will eventually lead to government ownership. Poultney Bigelow has sent a check for $1,000 to Colonel Watterson, to be forfeited if his statements about the Panama Canal are found to be untrue. Elder P. Samuel Williams, of the Mormon Church in Mexico, denies the charge made by Professor Wolf that polygamy is still practiced there. Mrs. Thomas Stockton, of Mount Vernon, Braddock, Pa., left her husband because his moving habit led him to change his abode 13 times a year. Miss Tillie Foley got a sheriff after Victor O'Clair, her fickle lover, who abandoned her for another, after she had paid his fare from Gallicia. Washington Christian and his two daughters were shot in Athens, Ga., by Walter Hardeman, the husband of Christian's divorced wife. The lives of 800 patients in Bellevue Hospital, New York, were endangered by fire, but no one was incommoded. Miss Drew, of Boston, was thrown from her hourse and killed as the result of reckless automobile driving. Three more bodies have been recovered from the wreck of the steamer Valencia. Captain Van Schaick, master of the General Slocum, on which 1,000 lives were lost, has been sentenced to 10 years in jail. He has made an appeal from the decision. Nelson Morris & Co. and Armour & Co. deny the giving of bribes to Chicago newspaper men to influence reports of the beef packers' trial in Chicago. Rev. H. S. Little, just returned from the Orient, says the students of the Chinese universities are fomenting a revolution and favor a republic. Mrs. Susan Day Parker, accused of participating in the firing of the yacht Scythian for the insurance, has been declared not guilty. Charles 1. Tucker, convicted of the murder of Mabel Page, of near Cambridge, Wass., has been sentenced to be electrocuted. Secretary Loeb announces that the government may prosecute the wreckers of the Enterprise National Bank of Pittsburg. Norman Hapgood, editor of Collier's Weekly, was acquitted of a charge of criminal libel preferred by Justice Joseph M. Deuel. In the Greene-Gaynor trial telegrams bearing upon the allegation that an attempt was made to bribe a Government inspector were admitted. The miners of the Southwest at Indianapolis decided to stand by the demand for the admission of the joint conference. There are indications that District Attorney Jerome is preparing to prosecute certain persons involved in insurance irregularities. Fire in the sanitarium of Miss Anna L. Alston, 111 New York, endangered the lives of a number of patients who had recently been operated on. Constantina Levi and Petro Foracika, alleged secretaries of the Baird (Pa.) anarchist band, were arrested near Monongahela, Pa. Fourteen lives were lost in an explosion in the Whitteville Mine, Indian Territory, that was caused by fire-damp. The Pennsylvania State Senate ordered an investigation of the Insurance Department of that state. The Bank of San Luis Obispo, Cal., closed its doors by order of the bank commissioners. Charles Winn killed his wife, her sister and himself in Providence, R. I. United States District Attorney Morrisoil denounced the attorneys for the beef packers of Chicago as trust lawyers and that their defense of immunity is clapur. MEY McCall, age 16 years, saved |orthern Central Railway trains two :reck near Harrisburg, Pa., by from a a bowlder had rolled on signaling the the tracks. for 32 years a member James Debuys Cotton Exchange of the New Orle. social and business and prominent in the suddenly. world of that city, die at Jackson, The Mississippi compre; cotton, was Miss., with 9,500 bales 040,000, with destroyed by fire. Loss $75 insurance of $500,000. been Seven St. Louis women have stabbed by a "Jack the Cutter." FOREIGN King Alfonso took his future bride. the Princess Ena, and her mother in an
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THE LATEST NEWS BRIEFLY TOLD. DOMESTIC Miss Helen Gould has subscribed $15, 000 toward a new Y. M. C. A. building at Tarrytown, N. Y. The body of Thomas Nast, former American consul at Guayaquil, was brought to New York on the steamer Finance from Colon. Operators in the oil fields of Indian fear a of activity because be as a prevented Territory the from Standard continuing suspension Company will buyer the and transporter of peroleum through proceedings instituted in Missouri. Chairman Knapp, of the Interstate Commerce Commission, expresses the belief that the agitation against the railroads will eventually lead to government ownership. Poultney Bigelow has sent a check for $1,000 to Colonel Watterson, to be forfeited if his statements about the Panama Canal are found to be untrue. Elder P. Samuel Williams, of the Mormon Church in Mexico, denies the charge made by Professor Wolf that polygamy is still practiced there. Mrs. Thomas Stockton, of Mount Vernon, Braddock, Pa., left her husband because his moving habit led him to change his abode I3 times a year. Miss Tillie Foley got a sheriff after Victor O'Clair, her fickle lover, who abandoned her for another, after she had paid his fare from Gallicia. Washington Christian and his two daughters were shot in Athens, Ga., by Walter Hardeman, the husband of Christian's divorced wife. The lives of 800 patients in Bellevue Hospital, New York, were endangered by fire, but no one was incommoded. Miss Drew, of Boston, was thrown from her hourse and killed as the result of reckless automobile driving. Three more bodies have been recovered from the wreck of the steamer Valencia. Captain Van Schaick, master of the General Slocum, on which 1,000 lives were lost, has been sentenced to IO years in jail. He has made an appeal from the decision. Nelson Morris & Co. and Armour & Co. deny the giving of bribes to Chicago newspaper men to influence reports of the beef packers' trial in Chicago. Rev. H. S. Little, just returned from the Orient, says the students of the Chinese universities are fomenting a revolution and favor a republic. Mrs. Susan Day Parker, accused of participating in the firing of the yacht Scythian for the insurance, has been declared not guilty. Charles L. Tucker, convicted of the murder of Mabel Page, of near Cambridge, Mass., has been sentenced to be electrocuted. Secretary Loeb announces that the government may prosecute the wreckers of the Enterprise National Bank of Pittsburg. Norman Hapgood, editor of Collier's Weekly, was acquitted of a charge of criminal libel preferred by Justice Joseph M. Deuel. In the Greene-Gaynor trial telegrams bearing upon the allegation that an attempt was made to bribe a Government inspector were admitted. The miners of the Southwest at Indianapolis decided to stand by the demand for the admission of the joint conference. There are indications that District Attorney Jerome is preparing to prosecute certain persons involved in insurance irregularities. Fire in the sanitarium of Miss Anna L. Alston, in New York, endangered the lives of a number of patients who had recently been operated on. Constantina Levi and Petro Foracika, alleged secretaries of the Baird (Pa.) anarchist band, were arrested near Monongahela, Pa. Fourteen lives were lost in an explosion in the Whitteville Mine, Indian Territory, that was caused by fire-damp. 1 The Pennsylvania State Senate ordered an investigation of the Insurance 1 Department of that state. The Bank of San Luis Obispo, Cal., 1 closed its doors by order of the bank commissioners. Charles Winn killed his wife, her sister and himself in Providence, R. I. United States District Attorney Morrih son denounced the attorneys for the beef packers of Chicago as trust lawyers and that their defense of immunity is claptrap. Mary McCall, age 16 years, saved two Northern Central Railway trains from a wreck near Harrisburg, Pa., by signaling that a bowlder had rolled on the tracks. a James Debuys, for 32 years a member of the New Orleans Cotton Exchange and prominent in the social and business world of that city, died suddenly. The Mississippi compress, at Jackson, S Miss., with 9,500 bales of cotton, was destroyed by fire. Loss $750,000, with insurance of $500,000. Seven St. Louis women have been stabbed by a "Jack the Cutter.' FOREIGN King Alfonso took his future bride, i the Princess Ena, and her mother in an a auto from Biarritz to San Sebastian to
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demolished, but fortunately no one was of seriously hurt. Governor Fred W. Parks call upon Acting found it necessary enforce to an orColorado general to confined the adjutant a pardon to a girl childer granting state home for dependent refusing to in dren, the the board of control recognize the order. lost their lives Richardson in a fire Six partially women destroyed the large number hotel that at Lowell, injured Mass. were removed A to hosannounced Secretary of the dismissal Navy from the has pitals. who were academy the of Stephen convicted Bonaparte Decatur, by naval New Hampshire, hazJr., of of countenancing big dry dock Dewey is progress ing. court-martial reported the The making satisfactory to across to be the Atlantic She is on making her way about an Philippines. of 100 miles a day. vote, average senate, by unanimous fare bill. The Ohio the Rathbun indignant two-cent at the reRailroad passed men are of the bill withporting and having been of San Luis of its out them. a bank hearing passage account Obispo, accorded Cal., beits ing unable has The been closed to meet on the demands Crittenden of of is the depositors. bank claims President that the institution perfectly solvent. reservation at Cal., North has The military island, Pio San Pico, Diego, in honor named governor of California preliminary Coughener, Mexican been Coronado Pio The Pico, Fort Louis C. under of E. of of Finstad and before the Mexican in Los at Santa Rosalie, to the their court o. Angeles, being bound Cal., the over charge resulted of higher and hav- C. court for trial on W. Rutherford near ing murdered R. at Finstad's ranch, Diaz, Attorney in New of the Hapgood a letter course W. District McMurray Mexico. in evidence Jerome, trial Cleveland, in from the York, placed President Grover honorary subformer had been given and an Fancies," statand scription who to "Fads examined the publicathought ing that he had it "an admirable of book.' tion Latest reports steamer from the Valencia vicinity loss on of the wreck of island, the indicate a have sur Vancouver 120 lives. Those who condition as about vived are in a exposure. dpelorable of 20 who the of life raft by of Topeka, nine steamer the were result rescued City themselves, from a and none were were at the Darling able to help River telegraph hut The Field for unable will to stand. of the bequests late Marshall aggregating the makes specific including $8,000,000 and $4,000, of Field $25,568,000, to Columbian his daughter, museum Mrs. The Beattle, residuary for the is left in Field, Jr., intact 000 Leamington, ants estate Marshall England. trust kept who descend- died un- 50 of 27 last, to be the age of November eldest reaches given $1,000,000 years. The interest in the Chinese a celebrating members of and til While the life widow is the Field home. rival New a New York, engaged in Year societies in battle, in Chinatown with the result and that another two seriously were wounded. pistol killed, one mortally A number of arof rests were comes made. from anarchist Pennsylvania plot to News discovery of Pennypacker an of Penn. and assassinnte the Gov. Pattison of Ohio Warrants gylvania, Gov. officials. were issued other prominent for 136 foreigners alleged found to be implicated. Jacob Jacobs was Cotton The body of the International was deof stroyed $100,000 was Compress in the ruins by Co.'s fire of at building, sustained; Norfolk., which Va. fully A cov- loss commissioners ered. imperial Chinese to study American reThe to this country were cordially in sent government methods department them at the state nearly all of no ceived Washington, and fluently, as there was of felicitations. of in Patrick Nannetti, nationalist trouble speak Joseph English the exchange Irish member Dublin, inin the division of has parliament for the college of the Freeman's of and terest chief compositor been elected lord mayor daughJournal, Dublin. McCall, the 16-year-old track walker, Mary Central saved two running ter of a Northern Clark's Ferry, Pa., into an living at trains which from rolled down her the mountain immense passenger boulder side on to the tracks near in arrested home. William Barnes, suspicion, who was in Shafer, connecCol., on of Sarah ago, tion Ind., incrimDenver, Bedford, with the murder about as nothing two years him. one in been released, found against being of inating has Carl Johnson, could be who suspected held un of Otto Bader men three
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BANK BOARD OF NO USE, SAY BANKERS Financiers Tell Legislative Committee Clearing House Exam= iner May Be Selected Rigid Rules Will Govern Combined Savings and Commercial Institutions Hereafter Dual banking was discussed by the legislative investigating committee on banking laws at two sessions yesterday, which were attended by several prominent San Francisco bankers, who said that the state bank commission was useless and declared in favor of a clearing house examiner. Dual banking is the tabloid phrase to describe a bank that conducts a savings and commercial business in conjunction, loaning out the savings deposits without regard to the restrictions which are placed by law on banks that are chartered solely as savings banks. The work of the committee progressed to the extent that suggestions were or abolishing that made more such to it drastic combined that laws measures institutions, be passed be adopted, permitting banks to continue in their dual capacity, but forcing them to comply with such restrictions for each department as the law provides for the separate institutions. On the invitation of the committee Homer S. King, president of the San Francisco Clearing House association: Frank B. Anderson of the Bank of California, I. W. Hellman Jr. of the Wells Fargo Nevada national bank and P. N. Lilienthal of the Anglo-Californian bank sat with the legislators yesterday. Senator E. I. Wolfe announced to the committee that he had invited Superior Judge George Sturtevant to meet the committee Friday afternoon and discuss the banking laws, with which Sturtevant became familiar while assistant attorney general. BANKS PLAN SAFEGUARD the yescommittee, Senator Leavitt, opened the chairman conference of terday by asking of Homer S. King: "What in your opinion was the cause of the late stringency and what in your opinion is the trouble with the present banking laws in the state of California?' King replied that there would have been no stringency in San Francisco if New York had not shut down on money. P. N. Lillenthal, in the discussing question, latter part of Leavitt's said that the clearing house was considerengagement of a who would on ing bank the examiner competent report the condition of all clearing house banks. The penalty for a bank not being up to standard would be disbarment from clearing house privileges. Anderson said that the bank commission did excellent work so far as it went, but its examinations were only on the surface. 'What consequence do you attach to the bank commissioners' reports?" asked Senator Curtin. "I don't believe the public gets any benefit," replied Anderson. "The work should be done by a trained man, and you can't get a trained man for $3,600 a year." "One way to guard the banks." be to enact a law a crime for a Hellman, ing it "would bank to mak- loan said money while its reserve is under the established per cent." WOULD ABOLISH DUALITY opening of the sesAt James the afternoon sion M. the suspended Bank of Luis Obispo, was Luis president of San of Crittenden, who given was San the privilege of the floor and attacked the law giving bank commissioners the power to close a bank. surveyor of a at Santa for divorce of strong and E. F. banker appeal Woodward, Rosa, made customs a commercial or considered them a Hellman savings banks. and He banks, combined danger. dual suggested that a reform by comply with all bank be accomplished making restrictions such might a placed on both savings and commercial banks. "But there is no objection to a a dual business," Hellman it keeps a doing tinued, "If proper reserve." bank con"But still you would put the limitations both types of banks on a dual asked bank?" of Leavitt. "Yes," said Hellman.
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PLAN BETTER BANKING LA W FOR STATE FINANCIERS HOLD IMPORTANT SESSION Special Committee from San Francisco Clearing House Association Appears Before Special Legislative Board By Associated Press. SAN FRANCISCO, March 3.-A special committee of the Clearing House association, composed of Homer S. King, president of the Bank of California; Frank B. Anderson, manager of the Bank of California; P. N Lilienthal, manager of the Angelo California bank, and I. W. Hellman, jr., vice president of the Wells FargoNevada National bank, appeared before the special legislative committee on banking laws today to make recommendations to the legislators for the amendment of the present banking laws. Mr. King said the late stringency had been caused by the impossibility of getting money from the east. He said that a false impression had existed that the banks of the state had lent money in the east for speculative purposes, but that as a matter of fact the difficulty lay in getting gold returns for trade balances due the west by the east. Appropriation Too Small In reply to a question as to what was the matter with the state bank commission Anderson said the appropriation was too small and the field of work was too large. He said the commissioners were not judges of the value of securities and that they were compelled to take the word of the cashiers in this matter. He expressed the opinion that it was not possible to hire expert examiners for $4000 a year. All were agreed that a law should be passed preventing trust companies from including trust funds in theiri assets, but there was some difference of opinion as to establishing a legal reserve limit. James M. Crittenden, president of the suspended Bank of San Luis Obispo, asked to be heard on the question of restricting the powers of the bank commission. He said the present banking laws were unconstitutional in that they permitted the commission to seize the property of a bank before it had been properly adjudicated insolvent in a court of competent jurisdiction. Crittenden also asked the committee to recommend legislation which would prevent the issuance of clearing house certificates in the future.