The San Francisco call. [volume], November 16, 1907, Page 7, Image 7

About The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913

Image provided by: University of California, Riverside; Riverside, CA

                
DYING BANKER GIVES
LAST HOUR TO LAWYER
C. T. Barney, With His Life
Ebbing Rapidly, Signs
Many Papers
SECURES HIS WIFE
Documents Will Aid Her to
Realize on Ruins of
His Fortune
Special by Leased Wire to The Call
NEW YORK. Nov. 15. — Conscious and
perfectly raiional. though stricken with
a mortal wound inflicted by his own
hand. Charles" T. Barney devoted tha
little life left to him to the task of
helping his friends disentangle his in
volved affairs for the ultimate benefit
ef his family arid his creditors.
The day before he was subjected to
th« surgeon's knife he executed a valid
will, devising: his entire estate to hia
•widow, but during- those precious mo
ments of ebbing life he also calmly ap
proved and signed various documents
hurriedly but leg-ally drafted by bis
counsel, the effect of which will be to
facilitate the plans already well under
•way for the organization of a friendly
corporation to tak© over Barney's valu
able real estate assets and to discharge
his outstanding obligations.
During that Interval of nearly two
hours he seemingly realized fully the
importance of doing what he could to
put his affairs Into shape, restricting:
his conversation while with his lawyers
eolely to business matters. The dying
banker appeared as eager as they to do
what was necessary in the interest of
his estate within the brief span of time
which all feared remained to him.
Paris Papers Froth Over on
Cause of Loan Negotiations
Talk Learnedly of United States War
Chest and Call Stringency Bluff
PARIS, Nov. 15. — Distorted and rldlc
tiloxxs rumors have been published by
Paris papers concerning the character
of the negotiations conducted by J.
Plerpont Morgan & Co. with the Bank
of France with the view of obtaining
$:?. <s:o,ooo to $40,000,000 in gold for
direct shipment to New Tork, which
after having been In progress since
last week were definitely broken off
yesterday.
One of the news agencies tries to
make It appear that the United States
was seeking gold to fill Its war chest
In anticipation of hostilities with
Japan. This agency announced that .a
United States government short time
loan was Imminent, and that Japan had
provided against Its admission to the
Paris bourse, believing that the alleged
desrth of grold In the United States Is a
bluff and that the crisis was deliber
ately premeditated to permit America
to build up its war treasury.
It la almost needless to add that the
reports circulated here to the effecj
that the United States has applied for
permission to list a loan on, the bourse
and that the Japanese authority pro
tested are without foundation.
WASHINGTON, Nov. 15. — Secretary
Root today denied that the French
government had proposed to secure
. tariff concessions from the United
States through the Intervention of New
York bankers, as a plan for the release
of gold by the Bank of France, In order
that the gold might be shipped to this
country to relieve the present strin
gency.
Treasury May issue Fifty
Millions in Panama Bonds
Another Plan Is tbe Redemption of
4 Per Cent Obligations
Special by Leased Wire to The Call
WASHINGTON. Nov. 15. — Panama
bonds to the amount of $50,000,000 may
be Issued at once by the secretary of
the treasury further to relieve the
financial stringency and to Increase the
\u25a0working balance of the treasury. An
other plan to relieve conditions is to
redeem some of the 4 per cent bonds
a.nd convert them Into 2 per cents.
These two schemes have been under
consideration by the secretary of the
treasury for several days, but no de
cision has been reached.
Notwithstanding the fact that the
treasury department has placed more
than $200,000,000 government funds on
deposit In national banks and the
situation has been relieved to a great
•xtent. there is still a heavy demand
for cash to be used in the movement
of the crops.
EAST MOST SEND COAST
Continued From Pag* 1, Column 4
made, their views known to the chief
executive and were prepared to leave
everything with him and the legisla
ture.
"Our concern as to the extra session
ceased after we had persuaded the gov
ernor that It was for the best interests
of the people," said Homer S. King.
"What we desired were the holidays
and the session. Our. views have been
made clear to the governor and we
tre willing to leave everything to him
now. We have secured what we
wanted,"
CONFIDENTIAL CLERK
SWINDLES EMPLOYERS
Richard J. Faraday, who was em
ployed aa a confidential clerk by the
George Ryan lumber company up to
the end of last month, was arrested
yesterday by Captain John Cleary of
the Morse detective agency on com
plaint of the Ryan company that he
had obtained money under false pre
tenses. According to the charges Fara
fiay was in the habit of having bogus
orders for lumber telephoned to him
. tnd he would send the building mater
ial to a confederate, who would sell it
and divide the money with Faraday.
Faraday has confessed his guilt.
The specific case against Faraday Is
|he one in which he claimed to have
received an order for 3,000 feet of lum
fcer from one A. C. Wilhem. It Is
Charged that he sent the lumber to
Eleventh and Harrison streets, where
It was receipted for by R. J. Knight,
,«rho, it Is claimed, was In league with
f Faraday. The lumber was then sold
I to the firm of Searl &, Haymond for
122. BBnßsEMppn
Faraday admits the truth of the
tharges against him and says that he
leas compelled to speculate because of
iome troubles. j
HkasaVSSWSBaK^B^^BB^BB^^BSSHBBBSBBSBBBBB^H^^iBBBB^IBB^iBBSBBBBBBBS^iBBBBBBBBBBBBBBBB^iBK^BiBfI^HIBBIBBK-.
DIRECTORS PLEDGE OWN
FORTUNES TO COMPANY
California Trust and Safe
Deposit Plans to
Resume
AUGMENTS ITS CASH
Assets Will Be Greater
, by $1,600,000 Than
Formerly
. The directors of the California safe
deposit and trust company sent out no
tices last night to the stock holders
and depositors of the corporation set
ting forth the plan adopted for the
resumption of business. The statement
was prepared and » issued with the
knowledge and consent of the bank
commissioners. A conference was held
yesterday between the members of the
commission and David F. Walker. J.
Dalzell Brown and W. J. Bartnett. di
rectors of the safe deposit company, at
which the method of procedure was
discussed and approved by the state
board.
The plan embraces four propositions.
First, certain directors of the company,
said to be Brown, Walker and Bart
nett, have agreed to place their in
dividual property to the value of more
than $700,000 with the Metropolitan se
curities company to be converted fnto
cash to assist the trust company to re
sume business. The second proposal
contemplates the sale of unissued stock
of the corporation to the amount of
1375,000. The third feature of the plan
calls, for an assessment on the stock
of |20 a share, which will bring into
the treasury the sum of $525,000.
The fourth division of the plan en
tails an agreement on the part of the
depositors to accept certificates of de
posit for a part of their money, pay
able in three, six, nine and twelve
months and bearing interest at the
rate of 4 per cent per annum. The as
sessment and sale of stock are counted,
upon to strengthen the corporation's
treasury by $900,000. Adding the $700,
000 pledged to the assistance of the
bank would bring the augmented as
sets to $1,600,000.
EMPHATIC AS TO SOLVENCY
In their statement the directors as
sert positively that the concern is sol
vent. It Is asserted that the year end-
Ing January 1. 1907, showed a net profit
In excess of $187,000. At the time the
bank suspended It was stated that the
deposits amounted to $8,000,000.
The full statement sent out by the
directors follows:
Following the custom of tl» sew York tru»t
companies — and these are not clearing bouse
members — the California safe deposit and trust
company has never applied for membership in,
the San Francisco clearing house tU Is not a
member of that body. The extraordinary
stringency In taouey matters, due to the pres
sure in the great financial centers, bas mad*
It necessary for <L« leading banking institution*
of the country to resort to the use of clearing
bouse certificates and to the issuance of emer
gency currency. Not being a member of the
clearing house, and therefore being enable to
obtain clearing house certificates, such aa the
clearing house twnks in this city bare been
using during the last two weeks, and being
unable Immediately to realize on Its secnrltles
In consequence cf the shortage of coin In San
Francisco, it was deemed by ' tbe management
to be in the best interests of the depositors
and stock holders temporarily .to suspend until
the unusual financial conditions change and
the company could call in Its casta-resourcea.
This company was organized In 1552 and bas
been in successful operation for more than 25
rears. During that period *it has paid in dlrl
dends to its stock holders more than $1,350,000,
beside* paying more tlian $1,500,000 as Interest
to Its depositors, and It bas accumulated a
surplus of more than $400,000.
DIRECTORS PLEDGE FORTUNE*
To enable the company to resume business at
an early date and In order to assist the Insti
tution our president. Mr. Daxld F. Walker, and
others of the • officials and stock holders will
transfer to the Metropolitan securities company,
a corporation with a capital of $1,000,000, their
Individual property to the value of more than
$700,000. The resources of the Metropolitan
securities company will be Immediately convert
ed Into cash, which will be devoted to strength
ening tbe California safe deposit aad trust
company. ,
The capital stock of the trust company I«
$3 000,000. of wUlch stock $375,000 is still un
issued This stock will be subscribed for at
par by the stock holders. This will bring to
tbe company $375,000 in cash. In addition, the
stock holders will be requested still further to
strengthen the Institution by contributing calls
to the amount of $VM) a share to add to the
surplus. This will bring In a further earn of
$0"5 <iOO which with the proceeds of , the sale
of the treasury stock will make a total of
$yOO 000 to be contributed by the stock holders
tnd purchasers of the treasury stock, thus In
creasing the security to the depositors by
$900,000.
When the company suspended It had a large
amount of available cash In Its vanlta and de
posited with other banks, besides a large amount
of convertible asseU «w which It Is daily
"to protect the Interests of both depositors and
stock holders the depositors m 111 be asked to
sign agreements accepting certificates of deposit
for a part of their money, payable in three, six,
nine and 12 months and bearing interest at the
rate of 4 per cent per aumim. this being the
rate of Interest paid by several of the leading
San Francisco savings bank*. This proposition,
which Is along similar lines to that of the large
New York banks which recently suspended and
are preparing to resume business partly by the
Indulgence of their depositors nnd stock holders,
will be presented to the depositors more folly
within a few days.
BIG EARNING POWER
This company had done a most successful
business during the last 25 years and has bten
an Important factor in the development of the
state. Since the fire, for the convenience of Its
depositors, the company bas established four
branches throughout the city. These branches
have been most successful and have made for
the company a large number of new friend*. Tbe
earning power of the company Is large, the net
earnings for the year " ending January 1 , 1907,
being In excess of $187,000.
The president and board of directors of the
California safe deposit and trust company de
sire positively to assure both depositors and
stock holders that the company is solvent and
that In a comparatively short time it will re
sume business In a stronger condition than ever.
They desire, however, the support of all the
depositors and stock holders and believe that
from the great number of assurances received
during the last two weeks they can count on
their hearty co-operation and support. We most
flncerely regret the inconvenience that our de
positors have suffered by reason of our temporary
suspension and can only ask their kind indul
gence during the present financial stringency.
Respectfully, David F. Walker, president; J. Dal :
icll Brown, vice president and manager; R. D.
Fry. Tice president; W. J. Bartnett, vice presi
dent: William C. Peyton, director; E. N. Har
mon, director; James Treadwell, director; W. F.
Barton director; A. D. Sharon, director; James
H. Swift, director; JamesJSallee. director.
A circular letter, signed "John Lloyd,
chairman of meeting of November 2,
1907," has been sent to the depositors
oi the company deprecating an agita
tion at this time.
SOUTHERN AND UNION
PACIFIC CLEARINGS FALL
Decrease Shown in Net Figures,
While Gross Receipts of Sys
tems Increase
Special by Leased Wire to The Call
NEW YORK, Nov. IB. — Earnings of
the Union as>d Southern Pacific sys
tems for September and for the three
months ending. September 30 were is
sued today, each showing considerable
decreases in net Earnings.
The Southern Pacific earned during
the month $11,112,422 In gross receipts,
an j increase of f 1,466,838, while net
earnings showed . a ' falling on! of
$714,126. For the three months gross
receipts Increased $5,740,151. while net
earnings declined $748,623.
Union Pacific - earnings for ,Septem- j
ber amounted to $6,950,234, an Increase
of $679,084. while net receipts fell off
$559,395. Gross receipts for the three
.months were $21,192,741, an Increase of
$2,493,242, while net earnings decreased
J836.23&.
JHE SAN FRANCISCO- CALL, SATURDAY, NOVEMBER 16; 1907.
mm^ Bßaaßa , \yO - ' \u25a0 '. )//l v^w 'm •\u25a0\u25a0' j\\ \u25a0\u25a0\u25a0 \u25a0 "•"\u25a0'\u25a0 a^ a small space is occupied. by the city of San Fran-
' i c i SC o. pay by: day/year by year, every mdi of land within tlie
&/tf^^^^sJ^Sz! v •*»'\u25a0\u25a0•\u25a0 c^y limits grows more and more valuable
f^^^^^^^^Wjj *^BP !; i^^^^ Look at the.building of homes toward the south this year
.' %^^^^^^^^i-i i:; and .last— hundreds, have extended over into. San Mateo county ;
'" ///IVy^^^^^^) } ' r- 9 * because lots in San Francisco were too expensive. k-'
-•',- "^SL. Ocean View Park offers your opportunity to buy in the city
: (fn\ VfJ|' §^5 \- —^ at p " ces ' ower y° u aye seen m man y a a y- 0°
/Ml \ I 1I 1 )|i ; 0 By 1915 San Francisco will have 1,000,000 people
(ill * M i~OX * /// Where will they live? In San Francisco, mind you, they'll
l^C '% V^^ } \ I have homes somewhere within the city limits.
|| • 'Jjr' $• \ *X . \u25a0 W^^. Three churches already in Ocean gateway through which the con-
V \ \S +~* f \u25a0:\u25a0-•*./. \ % %'-rS> ewr Park — Catholic, Presbyterian merce of the Orient will pass.
«N ilj C i "- and , Episcopalian — four blocks It is as sure to expand as the sim
ill K^"\ - - The Spring Valley Water Com- If you want to share in the coei-
1 1 1 % 1 -(( S \ ~^j, Panv's property lies on west of. the ing prosperity of San Francisco ytu
Wl '* ,* 4 " **" "\^ Ocean View Park and is not for must own property in the city.
r "**^Sr\v /^^ \ X •% This will tend to . enhance the ing population adds to the value of
\((X VS^V"- 9"""39 """3 \ value of Ocean View Park im- real estate in San Francisco will l>e
([((I f f - * \u25a0\u25a0' '* ' - " /A3 % Have a home far enough from Park is as low as $20Cl
>—^^ v' -/ ! % /£\u25a0 - ' ,-i . . - "*"* \u25a0-.'%'. ' the crowded section to be quiet and This on easy terms.
(ff I^Wj-^ '\u25a0'/- \u25a0-\u25a0' /^_^.^-^'.-'s^^^~ :^' : .v, : \u25a0\u25a0'.-. - r>. comfortable, yet near enough to lO^per cent; down and $10 a
\MM( f f 4>%'\\ 1"k c privacy and quiet of the You can visit the tract any day
VYUi \r " \ : * country and the advantages and im- at our expense.
' M rC^ \ I provements which go with city life Fares refunded to all visitors i:o
\\\\VZ^^"*~/ • give an ideal combination! Ocean View Park.
N^|r\ J i^A San Francisco .property increases Sale opened Sunday. November
iRI/ /> m va^ ue more rapidly than country 10, when many shrewd people tock
\\vX/^-' /^-/V M . 'wal estate, arid yet [ advantage of the opportunity to sc-
mm Ocean View ]ots arc sellinB for cure a home b San Francisco at *«
v^SJk/y' \ \ less money than lots in San Mateo phenomenal and unparalleled price
"^^^\u25a0\u25a0ffil: *££* Lots in Ocean View Park are Every lot in Ocean View Park
- , :: "Si much better locate(ithan lota in sec " is not priced at $20 °- but i ust as
'^^ : ' tions of Richmond and Sunset Dis- likely as not the lot you prefer will
V> > tricts, and yet they are selling for be $200. *\
\u25a0 . ."\u25a0 :; - .. : ; , j^ m less money. ' It will surely pay you to investi-
"^ aaaa \u25a0 - ' . """ \u25a0"" 'i . , . \u25a0\u25a0 \u25a0\u25a0'\u25a0*> ' A model block is being fitted up gate.
/\ \7° T^ "s! • i^k xr- r-» i i -vv "»
\ /CG?1 0 VIGW r^fl'PK"'"- m Ucean View Park, streets to be You have nothing to lose acd
properly graded, having 6 inches of everything to gain.
¥_ • n nM C#« :# . crushed stone in the center.* sloping Come out next Sunday,
lv 111 4Z30.11 ft 1 diICIoCU to 3 inches at either side. Come out with the crowd.
tl o • i ri '• D-i mi tl cvl n c i • Sidewalks i 1 0 feet wide with 4 Buy where the people are buvim*
Ihe Peninsular JLlectnc Railway will Ihe oouthenr Pacific has its nearest sta- £ , -r • i • i_ l i t \u25a0 *. '^"
run along the southern line of Ocean View tion at Ocean View, four blocks from f ee \ of ar hficial stone m the center, but be among the first to buy.
Park. 4 : - 7 ; Ocean View Park. ! ; -- "' leaving a 3-tgot space between that Remember
The fare will , be 5 cents. Monthly commutation to Valencia w W the curb%n^ property line for Ocean View Park is reachedby
mrv ol ci *• t- . c . Third and Townsend* streets, sc. flowers or lawn" or shrubs, as the four electric car lines and
Ucean ohore Llectnc Line to oanta - _ , l i j • r\ \
Cruz passes through Ocean View Park. > T™ Ocean View Electric line of the home maker desires. ; -One electric railway and
-p, . . - i v V United Railroads runs' by way of Guerrero Water to be piped for every lot. One steam railway,
tract"' Fa^°scen^ W "^ " and Mission streets to the ferry-fare sc, ' All of these improvements are All at a five-cent fare and
' ' ..n * ' \u0084 '- ' Uncle Sam's. letter carriers will deliver guaranteed, and so set forth in the IT IS WITHIN THE CITY
The United Railroads regular S^^ LIMITS OF SAM FRAKr
teo cars run w,thm. easy walking distance of other part of San Francisco: contract ot sale LMI I b OF SAN, FRAN-
Ocean View Park. Fare 5 cents. Uniformed olicemen will rotect the ' P erson M m g it otherwise CISCO. ,
The Ocean Shore Railway has franchise citizens of Oc|agv|lp2kSa^ as in^ :*** S ° t^?- r^ ?* Arrangements have beeen mace
and right of way through Ocean View any other section of the city. money paid on his lots retunded to with the • Ocean : Shore .- Railroad
around by the park to the Richmond Dis- A fine grammar school is^ located eight him ' - whereby a limited number of our
tact- ! bldcj« f rbim^Oc^^ie^|Park^i^th^the San Francisco is bound to grow buyers are assured of transportatioiL
This gives two outlets for those, who. increase of population a school will be % es- —it is the natural metropolis of the Train leaves' Eleventh and Market
build homes in Ocean View Park. tablished in Ocean View Park. ; Pacific \ Coast— the only natural streets at 12:40. Come early.
Owing to the congested travel on i^ I^l I^J --» I^l I"^ i I /\ I M S present this coupon a*j> have
buyers are advised to take United ; !»• second st, Bas rnadm.
i-^* \u25a0\u25a0 ' ;\u25a0\u25a0.-_• •\u25a0; » '."'»,"-'"•\u25a0 •' ' ' _ Gcn'tlomejiz '
Railroads* Cars tO Ocean View. \' °* " J?FAI FSTAXF ' I notio« your advertlsemaat ofhrtnff S*a
. t; .'' \u25a0 sVx*-rf*».l-«rf k^hJf 1 r». 1 x_w • FrEnclsco, lots for sale at J2OO. Will you ,
Take Ocean View, San Mateo or \ '\u25a0' • \ '• v?£ y m VT ™ o'fttSf 0 ™" 011 ' toseth * r
Cemeteries car. Get off at Ocean 269 SeCOlld StfCCt Q.t FolSOlTl, Sail, FfailCiSCO " In »**£»« this rMne^Tx am nnder no
\u25a0\u25a0 \u25a0\u25a0 ' ' '•>;".\u25a0 m ffo \u25a0 f^ . « film •" s. \u25a0 NAME *..»... ...... ......... .^. ...........
\u25a00 go ouLJOMORRow, sure! Clearing House Certificates Accepted 1 -^^" :: " : - -•---
7