WHEN a citizen of good sense,
as well as good; cheer, said
that the upbuilding of San
Kritncisco wcmlci depend upon
the work men did as individuals rath
er than through orjsanized effort, he
uttered a truth that ought to be re
peated wherever calamity overtakes a
community. But when this truth is
repeated the stoi.'y of the best exerr
plif.cation of its practical working out
ehould be told also the story of the
magical rebuilding of San Francisco's
Latin quarter that claims for its own
every block cf hill and hollow long ago
given the designation "North beach,"
as well as a significant slice of lower
downtown.
This golden rule for the cure of
calamities was portentous enough when
it was voiced, because It brought*
thinking people to a realization that
the organized meetings of the first days
after those of horror, were, for the
most part, efforts in the wrong direc
tion. Reduced to the terms of the
needs of the hour, "individual work"
meant that each man had better go
home, clean up his own brick pile, get
a shelter to live In. another to work
in, and the miracle of reconstruction
would be accomplished.
The thrifty Italians— and there are
»9 of them in every 100 Latins at North
beech — flld not have to be told this
great truth; they had a realizing sense
of their duty to themselves, their fam
ilies, their adopted city, and straight
way commenced to rebuild their
homes and their places of business.
Their work was "individual" and today
all San Francisco points with civic
pride to the enterprise and good faith
of the Italian colony.
The record breaking work of the
Italians suggests question after ques
tion, the most Insistent of which is:
"How did they get the money to begin
the work of rebuilding when the rest
of the community. Including the banks,
was stiJl dazed?"
Without doubt the largest single
contributing Influence toward this
marvelous rebulK-.ng. this "first aid" to
the stricken, was extended by the
Bank of Italy, at that time the "baby
bank" of San Francisco. A combina
tion of circumstances placed this In
stitution In a fortuitous position and
it was able to cast bread upon the
The history of the bank, and the way
it came through the calamity and the
financial crisis, make a chapter In the
financial annals that will not soon be
duplicated. The older banks, those
whose foundations were known to be
but little short of financial Glbraltars,
were expected to give a good account
of themselves in that time of trouble;
but no one thought that the baby
Bank of Italy would be the first In the
field with the means toward immediate
rehabilitation. . But it was.
First Bank to Reopen
between luck and faith, this bank
managed to be doing a rushing business
with its Italian clientele some time be
fore the other banks were able to open
their vaults. So it was that some of
the first loads of lumber that were
hauled to North beach were- paid for
out of the money available 'fr<mi the
Bank of Italy. Some of the - needed
amounts belonged to patrons of the
bank who found it possible to draw on
their account's, but much of it canie
through loans negotiated within a few
weeks after April 18. The loyalty and
confidence and judgment of the direc
tors'of the bank and the good faith and
energy of the homeless people were the
elements that went into these first
financial bargains after the calamity;
Just as soon as "the geological fault"
had slipped and settled and the fire 3
had broken out here, there and every
where, the officers of the bank were on
guard at its former home, the north
west corner of Montgomery avenue and
Washington street. They realized that
the fire would be upon them In a short
time and that their vaults might not
brave the holocaust They had one
comfort in knowing that the several
hundred thousand dollars on deposit
with some of the most substantial
financial institutions in the world was
entirely safe, but there was a wagon
load of. money and securities in the
bank proper and another of books and
various records. It was not an easy
matter in those hours of dire confusion
to move a large quantity of money and
valuables. At the most troubled meet-
Ing that the directors of this bank will
ever hold a plan was decided upon.
It was fortunate for the bank and its
depositors that the president, L. Sca
tena, was also the head of a large com
mission business and so had available
two large teams. Arrangements for
this important removal of coin and se
curities were made by A. P. Glannini,
the bank's vice president and manager,
while A. Pedrini, the present cash
ier, stood guard over the" bank, rein
forced by two soldiers assigned for
duty by the military authorities al
ready in charge of the burning city.
The wagons secured, the sacks of
coin, the bundles of paper money,' the
securities, the books, the odds and ends
necessary for the conduct of business,
were carefully piled into them. Under
such circumstances most men would
have been satisfied with getting the
coin and valuables to places of safety,
but the enterprising men of this bank
carefully included in the "odds . and
ends" a quantity of all sorts of sta
tionery that would be required to re
sume business In an orderly fashion.
But getting all these things into a
wagon did not solve the troublous prob
lem in hand. What was to be done
with these perishable things belonging
to people who had Intrusted them to
the bank for safe keeping? Oakland
was over the water, with a fiercely
burning district between the treasure
and the ferry; the Presidio was some
miles away. With fire and disaster on
every, hand ft seemed the part of wls
4*K\ t» t**M tfet mwssjr Had valuables
WHAT THE BANK OF ITALY
DID FOR SAN FRANCISCO
IN A TIME OF NEED
and then stand guard over the calamity
grave. With this idea in mind the
"treasure train" started, but as It
threaded its way^ through the maze of
misery there was time frr the consid
eration of other plans for safety, and
so the money that started out to be
buried found its way down the penin
sula to San Mateo, where Vice Presi
dent A. P. Gianninl had his country
home, known as "Seven Oaks." !
It was a curious and motley proces-
Blon of stricken people that left the
burning city that day,- but no one who
saw it thought for a moment that the
two big Scatena wagons were banks
on wheels, yr' » 'K.
There were anxious days at the Gian
ninl home while it housed the available
possessions of the Bank of Italy, but
there was an element of safety in the
fact that none but the trusted employes
of the bank knew of their presence
there.
The fire was absolutely extinguished
the Saturday after It began. Sunday
found Mr. Gianninl and a force of his
assistants writing letters to the bank's
depositors, telling them that it would
be possible for them to draw propor
tionate amounts, and also that' the
bank stood ready to lend money for
rebuilding. It is not 'difficult to see
what a powerful combination was Im
mediately formed by this bank willing
to lend money Immediately, and the
Italians who could I not get it too
quickly. It meant a splendid faith in
the city that was to be, as well as In
the men who were to make it.
Means were found to get these emer
gency letters to their destinations; the
answers came promptly, and important
business was soon under way. In ex
actly nine days after the calamity-
April 27— the Bank of Italy had estab
lished Itself In temporary quarters at
2745 Van Ness . avenue, at the home
of Dr. A. H. Gianninl, who is also a
vice president of the bank. Because
the records of the bank were kept in
places of safety, a calamity day book —
a simple affair— was opened, and now
that is a treasured possession of the
officials. It shows that' by May 1 there
was almost as much money coming
In as going out of. the bank. The en
tries increased with the days. By May
21 the directors had secured quarters
in- the old Montgomery- block,' one of
the few buildings in j this^-city ; that had
a magic circle drawn ; around it when
the fire claimed it for destruction. It
is a coincidence that this same Mont
gomery block. belongs to some promi
nent men of the Italian colony who
call themselves "The' Montgomery
Block Real Estate Associates."
The Bank of Italy has been marching
on to success, a fact which has found
expression, lm the magnificent new
building which Is architecturally an
ornament to the city and particularly
to the lower blocks os) Montgomery
street. / ; .
No Losses From Loans •
For the last two years, in crowded
little offices, the Bank of Italy has been
making history. In telling of this period,
Vice President Glannlni says:
"In lending money for much of the
rebuilding of North beach, our confi
dence has been well placed.. Not In
a single instance have the local
Italians with whom we have been
doing business failed to. live up to
their agreements. They have done far
better than we had any reason to ex
pect. Not only has all interest been
paid promptly, but loans have been de
creased by substantial/sums. Our cus
tomers having loans have been keeping
savings accounts with us and have
been reducing their obligations hun
dreds of dollars at a time. '..
"You can see how surprisingly busi
ness has gone on with the Italians
Blnce the calamity when this bank was
able to go through the recent crisis
without ever calling for a clearing
house certificate. We handled them
because our people received^, them.
Through all those weeks of flurry and
financial stringency we carried on the
business of; the Bank of Italy upon a
strictly cash basis. We .did ' not re
quire our depositors to serve notice on
us when they; wanted money.
"''When this bank was organized,
October 17, 1904,. the personnel of "the
directorate was somewhat out of the
ordinary, and to that reason It Is fair
to attribute a measure of our phenome
nal success. When. a new bank Is
started anywhere, the confidence of the
people Is secured by . the appointment
of a hoard of directors ' known to them
through years of ', business integrity.
'Young men need not apply.' .' ; The
time honored rule was broken when
the Bank of Italy .was established ; and
several- men • of the younger genera
tion were taken into full counsel and
responsibility with those of years and
ripe experience. The combination of
the .wisdom and the sagacity of the
trained men and the hustle and hope
of the younger ones has been product
ive of the best results. The men of
years have had no reason to regret the
confidence placed in the energy, and en
thusiasm of youth." , \u25a0 •*
Verified reports of the Bank of. Italy
tall officially and In 'numbers this story
:©f success. They show that notwlth
i standing the calamity and the financial
j stringency the stock holders have re
wired- regularly .5 per cent on their
except during the first two
and one-half months,* when' business
was being established. In addition to
this, the' accounts show that ' in* the
middle of June, 1907, the bank was
holding over {51,000 of surplus and un
divided .profits'. Two months dribivlts
organization the Bank of Italy had
assets amounting to $285. 436.97.' Within
a year that -amount had grown to $1,
021,290.80. \u25a0; On December 31, 1906, aft
er the calamity, the assets were $1,399,-':
947.28, and in December; 1907, they were
$2,221,347.35. During the six months
ending June 30, 1908, a most' trying
period for saving institutions, the as
sets passed the $2,300,000 mark, a re
markable increase under existing con
ditions. The bank has an authorized
capital of $1,000,000 and a paid up
capita} of $500,000. ''.*\u25a0'' ;
• For.-the convenience of Italians and
other customers living in the suburbs,
the Bank of Italy has this year opened
a branch > at 3334- Mission street, under
the -management of Victor A. C.-tglierl.
The present personnel of the .officers
and directors of the bank is as follows:
L.Scatena, president; A. P. Glanninl.
vice president; C. E. Musto, vice" presi
dent;' Dr. A. H. Qlannini, vice president;
A. Pedrini,- cashier: A. J. Ferroggiaro,
.assistant cashier; Victor A. Caglleri,
manager Mission branch.\ Directors—
L. Scatena. A. P. Giannini, Chas. F.
Grondonai Dr L. D. Bacigalupi. Jos. F.
Cavagnaro, - Dr. Guido E. Caglleri. G.
Costa, G.laccherl, C."E. Musto. George
'J. Gianninl,' J. J. Fagan. .'•'\u25a0, .'••;
All the men connected with the Bank
of Italy_ take' a really active Interest
in Its affairs, but Vice President A; P.
Gianninl has enthusiasm- enough to
manage several such institutions.
The Splendid New Home v
It was "In the early reconstruction
daysthat-lthe directors of the Bank of
' Italy .placed Its order for a ciass A
banking arid office building and.now,*be
cause of thelr^ foresight and faith in the
future of San Francisco, they are among
the.flrst of the financiers to be located
permanently in their own place. } Monu
mental^ in design, this building Is like
wise monumental In - its significance.
It typifies the energy, the loyalty and
'he far-sightedness of the Italians In
this state. It also reflects the artistic
appreciation of these people. Fittingly,
the building is Italian in the'full mean
ing of the word, its beautiful develop
ment 'having .been intrusted to Frank
T. Shea and John O. Lofq'uist. archi
tects. They found their Inspiration for
this stately edifice in the monuments
In the wondrous renaissance period of
Italian history that' has given Florence
in the Valley of the Arno its lasting
charm.
Strictly Italian In feeling.- this struc
ture rises nine stories without a Jarring
note in Its well studied . composition.
The material used in its construction
has been .carefully selected. The first
two stories are. of California granite
and the remaining seven of New Bed
ford • (Indiana) limestone, .used for thY
first time in this city. • The \harmonlous
blending of the tones of granite and
limestone Is especially good. The soft
lined shadows secured have enhanced
the effect of the general design.
There were. some interesting problems
to solve In the_construct!on of the Bank
of Italy. The nature of the soil de
manded a descent from the line of the
street curb of 32 feet and necessitated
the Introduction of a complex sys
tem of heavy steel glrdered. reinforced
concrete slab and cantilever construc
tion, 'covering the entire area of the
lot, including the sidewalk, space and
resolving the slab Into one great unit,
for the uniform distribution of thY
entire load or welght,of the superstruc-'
ture. In fact, down -In .the water, the
level of which Is. three feet above the
basement floor, these foundations were
placed effectively.
The water level standing perpetually
at a line three feet above the base
ment floor presented a difficulty rarely
perfectly overcome In building In the
water district of San Francisco. A
new system of water proofing, the re
sult of much experimentation and ex
pense, was employed. "; It Involved"' the
reinforcing and water proofing, of the
great concrete slabs and stalls with an
efficient core of metal, felt and as
phalt. This combination proved so emi
nently satisfactory that it was possible
to construct below the street line one
of the most' spacious' and secure sub
safe deposit vaults in this city. . .
This safe deposit department contains'
a vault 20 feet In width by 40 feet In
depth, constructed of- reinforced con
crete. . ateel - framed, with quadrupled
chrome »teel lining throughout This
vault is entered from two sides through
openings "protected .by doubled vestl
buled vault doors, 15 : Inches In thick
ness. In every particular it repre
sents tne most . advanced "type of con
struction.-. With its Interior furnlsh
ings of 5,000 metal boxes, bronze grills,
gates and special ' Jewel safes It cost
* M 5.000 to install. \
AH the walls, floors and staircases of
The San Francisco Sunday Ca&
the safe deposit department are beau*
tlfully laid and Incased with selected
marbles from Pavanossa and Carrara
ani other quarries of Italy. Bronza
gates and ornamental grills, products
of California shops, guard the ap
proaches to the vaults. Everything
needed In furnishing — the counting
-. stalls, doors, desks, chairs, are con
i itructed entirely of heavy steel, plated
to harmonize with the surrounding
decorations. An Interesting fact about
this safe deposit department is thac
It Is the. first one built in America
tor the convenience of the Italian
Furnished Without Wood
'.The crowning feature of this build
las; la the magnificent banking room
on th« ground floor. It consumes all
. the floor space, which Is really tne
j foil size of the lot. with the ex
ception of the entrance to the upper
part of the building. Thla allotment
oi space makes a room 50 feet square,
• lighted by great windows on both the
\u25a0 Montgomery and Clay street front
affes. This room Is 22 feet In height
| and ,to the last detail has been in
telligently arranged for Its purposes.
, Tb» trails, to window heights, the
; counters, vaults, facings, together with
the public desks and comfortable set
tees, and Including the grand stairway
to the safe deposit vaults, are all con
structed of chastely carved and taste
fully matched Pavanossa marble. The
floor* are laid In strong patterned Ital
ian marble. The great entrance doors.
the frames, the window trim, railings
and bljrhtly ornamental counter grills.
•re all delicately and artistically
wrought la bronze. All the furnish
ings back of the counter. Including
4««ks, cases, trays, gratings, chairs,
clothes closets, .racks, etc.. are made
cf steel, highly finished In mahogany
plating, providing a room absolutely
destitute of woodwork. The great wall
surfaces In the banking room are sub
divided. Special plastic features, arch
itecturally correct and well set. add
greatly to the attractiveness of ...ij
room. They Connect the arched win
dows and wall panel treatment and
draw the entire space into harmonious
union.
The entrance arch and main vault
front are particularly well emphasized
by symbolic groups, masterfully mod
eled. The one In the arch represents
the gifts of man and woman to the
world, the other, typifying time, sur
rounds thA. dial of the clock which
forms the central feature on the mar
ble vault opposite the main entrance.
A singularly beautiful part of this
room Is the ceiling decoration. It Is a
study In Italian renaissance, charm
ingly arranged panels of varied size
and forms of great depth and broad,
plain surfaces for future decoration,
surrounded with ornamental frames.
Supporting this fine celling are strong,
ornate 'and graceful columns that seem
like sentinels guarding the outer por
tals. The vault, which has been given
the central *part of the room. Is equal
in everf particular to the safe deposit
vaults below. They both afford un
equaled security.
• All told.- the home for the Bank of
Italy, with Its rich, rare marbles. Us
glistening doors, grills and candelabra*
of bronze. Its exquisite furnishings,
will be one of the most beautiful as
well as one of the most complete banks
In the country. -"-11 \
All th« floors above • the banking
rooms have been an-anged for offices.
are commodious and light and
provided with every convenience. They
are reached by rapjd electric elevators
and auxiliary marble and bronze stair
ways. The halls are lined full height
with marble and have floors of the
same, paved with mosaic. All the win
dow frame*, doors and sash are of
polished copper. All wood has been
, eliminated. .The window frames and
sash are of metal and the glass is
wired. There Is a perfect system of
heating and ventilation and a vacuum
, system for sanitation, besides all the
means, for alarm, mall and telephone
service. All the rooms are lined witr
. battleship cork flooring.
Starting on this new era In its exist
j ence. the Bank of Italy has the confl
, dence of the people., a confidence bom
of the splendid accounting it made In
.the days of calamity and financial
i.stress.. stress. Its ambition Is to be the bank
iof the home making people*— the best
life of a community. It has no specu
lative loans to make and considers only
i Improved property as security. its
i \u2666mslness code Is short, straightforward
. and easily told.
• ( And so. when the conditions are j»p^
• tyaed that • shall have made for x+m
complete rebuilding of San Franclac.
one of the best deductions will tell mi
.the Italians who wanted, to remake
: their home without delay, and of tan
Bank of Italy, that helped, so m*nr «
: them to do this splendid thin*
>