The San Francisco call. [volume], December 11, 1907, Page 2, Image 2

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

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

                
2
Governor Gillett Scores Former Bank Commissioners
List of Investments Made by California
Safe Deposit and Trust Company
(Note the absence of standard securities.)' \u25a0'. >••\u25a0
Snn Pranclsco and San Jo«f coal companY $311^90.6R
I*|j»««-r» Ula- and Lake Tahoe railway company ........... . 100,800.00
Pacific ivlndon- te^lass company . . 4,025.00
STOCKS.' Carried on hooks for:
IT.SS4 shares El Dorado lumber compnny .................. ],654,025.«S
2^JOO sharjes Western Pacific . .. ........ ..\ 575.000.00
l!i.«:i." shares ("arne)zle brick and pottery company 1,583,720.00
'.*.U7 i sbare« Pacific window glass company 3954H30.00
!'.!»»." shares' West Coast Investment company .......... i ... .-^ 292,012^*0
2.000 shares -Manhattan Dfv<fr mlutng oompsny -*........... \u25a0 ' ''2,180.00.
1.000 shares Western constractlon company ................. ' 95,000.00
Assets Xot Hitherto Reported '
1 automobile ..:. ........ 4.050.00
Mibwripllon stock and bond exebanfrs T. .......... n.000.00
Subscription Feather River power project 18,711.00
Subscription ««n Francisco mining vichange '.•••• 100.00
Grand total .....;......:..;,. .$5,675,787.83
had a plan for systematiz
ing it. -
"I bseefns impossible to me
that Dunsmoor could have
been on the bank commission
as long as he was without
knowing the condition of af
fairs in the California bank/
said the governor. "He is -an
expert on banking matters
and lias a large and varied
acquaintance among bankers
in this city and throughout
the country. From all that I
have learned since I arrived
in the city this morning, and
from the newspaper reports
of conditions "in the trust
company before its failure, a
child could have seen that
something was wrong with
the management after 10 minutes of
questioning. Dunsmoor apparently did
not, although he examined the institu
tion a half dozen times while he was in
office.
HEARS ALARMING RUMORS
"I myself had heard rumors of the
Ftate of affairs when I took office and
dptermined to see what could be done
to remedy them. That is why I re
fused to reappolnt Dunsmoor, although
many of my friends brought pressure
upon me to do I=o. Even my brother
Jn law, Frank Johnson, asked me to re
appoint the man, but I would not — I
knew too much about him. When Ga
routt*. the man I appointed in plate of
L>UTismoor, entered ofllce he found him- i
s»>lf confronted by this situation. In- |
£t*-ad of telegraphing me, as he should '\u25a0
have done, he asked Dunsmoor, the man
he succeeded in the office of bank <jom- '
missioner and an acknowledged expert '
on such matters, to help him unravel
the tangle. What Dunsmoor . did I
have been unable to learn, but it was
not much."
"Is it not a felony for a, bank com
missioner to conceal his knowledge of
any irregularities in an institution
\u25a0which he has examined?" the governor
was asked. . . : -. -
"It is; that is why I do not care to;
Jay the blame on any one's shoulders
dirertly; but the condition of affairs
Jn the office of the commission was
little less than scandalous. When the
present body took office the office was
not even provided with the ordinary
reference books one finds in every busi
ness office. Dun and Bradstreet were
missing and even the usual stock list,
such as is in nearly every hotel, could
not be found. The records of the
office had been neglected until it was
almost impossible to find anything
tvantcd and chaos ruled.
LARGER COMMISSION NEEDED
"Much of this state of affairs has
been remedied since the advent of the
new commissioners and much more will
be done before I get through with the
office. I came down here today;, which
\u25a0was as soon as I could get away from
the capital, in order that I might go
thoroughly Into the bank 'failure and
discover, if possible, the weak points
of the present system. I find that there
is far too much work for the commis
sion to. do thoroughly.
."One must remember that, with the :
exception of Mr. Silver, there is not i
a member who has been on the body
eince the July examination. None of
them Is an expert banker, for the sim
ple reason tjiat I appointed men who
•were not bankers with a purpose. I
believed that honest men who were
hard workers would do much better
than men whose only qualification was j
that they had spent much ot_thelr lives
over books In some up-state bank.
"There are 550 banks in "the state.
In order that the commission, at its
present strength, may ' examine thfm
all, only one day can be given to each.
This in manifestly insufficient- Some
of the larger ones need a week or 10
<Says for a. thorough probing.
WOULD SYSTEMATIZE WORK
"My plan is to systematize the -work
ing of the commission so that its mem
bers will act in harmony and at the
came time cover the ground. I can
think of no better way than to divide
the state "into districts and have the
commissioners examine the banks in
each in rotation. Hitherto the
members of the commission who came
from the south worked in the south, as
a g-eneral rule, and those who came
from the north -worked in their district.
Under my plan they would act as
checks " upon " one another. The con
dition which now ' exists is a menace
to the commercial welfare of the state
and must be ended as soon as possible.
If I find that there is no law to cover
such a change, I will see to it that
one is placed In the statute books.
"Other changes are imperative. There
5 s no ''penalty for violation of many of
the banking laws. For instance, all
banks of the character of the California
safe deposit and trust company are re
quired to have-on hand at all times
20 per cent of their deposits. . The Cali
fornia bank' did not, and there are dor
ens of other banks in the state which
are violating the law. Yet. under the
law, there is no penalty for such vio
lation. There must be one and there
will be one if I can put it there."""
No Frenzied Finance Like
This EVer Revealed Before
Depositors' Coin Thrown Away as
Fast as It Came In
Facts and figures were made public
by the bank commission yesterday
\u25a0which add two new chapters to " the
scandal attached' to the failure of the
California safe deposit and trust com
pany. It was revealed, first, that the
company did: not : - carry, a single dol
lar's worth, of standard securities, but.
Instead, a conglomeration of industrial
stocks and bonds which are without
immediate market value; and, secondly,
that from January to July, 1907, when
every solid bank on the coast was
calling in its loans, the California safe
deposit company made new loans to
the amount _of almost $1,000,000, In
cluding one of $200,000 to the San
Francisco and San Jose coal company
on October 29, the day before the bank
closed its doors. If a deliberate at
tempt bad been made to wreck the in
stitution it could not have been "more
easily accomplished than by the policy
pursued. - ' . .
These were the inevitable conclu
sions from the exposures made j'ester
day by the commission. The facts
would, be almost unbelievable were
they not written in the books in black
and white. In September and October
of this year, -when the shadow of
financial depression was over the en
tire country, the, bank threw out money
to its friejnds and favorites with as
lavish a hand as a king at a coronation.
On September 15 the' California ce
ment and lime company was given
$50,000. On September 5 the Douglas
investment^ company . was accommo
dated with, a loan of $35,000. On the
same day Allon Griffiths, vice presi
dent of the National Bank of the Pa
cific, received $33,000. On September
24 James E. Degan, a stock broker,
who was formerly a clerk in the
bank, received $10,000, making a total
of $40,000 for him since the first of
the year.
As late as March 16 of the present
y«ar John Treadwell borrowed $225,
000. On October 24, six days before
the bank closed, R. D. Fry, one . of
the directors, received., a loan of
$27,000, making a total of $94,500 that
he had borrowed since the opening of
the year. On September 24 E. P. Vran
dercook was accommodated with
$12,000, and on August 30 H. R. Brad
ford received $47,500.
M.". A. Murphy, the manager of the
Carnegie brick company, one of the
bank\s industrial enterprises, is down
on the books for a loan of $25,000. H.
L. Storrs appears on the books as a
borrower in the sum of $25,000. H.
N. Storrs is one of the. bank's book
keepers. /
James Conning, the secretary of the
bank, according to. the company's
books, borrowed the sum of $2,600. It
is a small loan, .but \the banking laws
forbid a bank to "lend money to 'Ais
own officers. ; \u25a0; \u0084,
The long list of "company loans"' to
the amount of more than $3,400,000
which appears In one of the accom-^
panying tables requires no elucidation.
The only, wonder Is that the bank
could have /continued so. long on' its
perilous career. The enormous loans
were continued up to the day the bank
closed.
That the bank did not "close any
sooner than it had to was shown by
the fact .that when it shut its doors
only $189,000 remained in. the vaults.
Apparently as fast as the money came
in it was tossed; out 'in loans, and as
soon as the deposits began to fall oft
the bank had to close.
A study of the stocks and " bonds
shows thp art of frenzied '\ finance in
its highest development. Not a stand
ard stock or bond appears on the list.
There is not a government bond, not
a - municipal bond, no bonds of stand
ard railroads,- not even industrial
bonds of . national standing. The in
vestments were confined to the bank's
own industrial enterprises.
"It is an amazing showing," said
Commissioner Lynch. "There is not a
standard stock in- the list. The com
mission made its last investigation in
July, but some of the largest, loans
have been made since that time. As
to the Colton estate, we have received
no explanation as to this' fund. We
are at a loss to know what has be
come of it" .
Court Refuses to Accept
$200,000 Bond for Brown
Takes This Action Because Aetna
Company Bailed Out Grafters
J. Dalzell Brown \. reposed behind
prison bars . again . last night, instead
of in his comfortable couch in his,man
sion in Washington street. '.He could
not leave his temporary place of resi
dence for the reason that' Judge .Dunne
refused to accepl the bond of $200,000
which the Aetna Indemnity company
offered. Judge Dunne explained his
action . by. saying that-thls concern had
acted as security for Schmltz, Ruef
and several other members of .the
graft ring and he deemed it advisable
not to accept its 'bond in such ~ an Im
portant case as the." present one. • •
Brown f'ttis in a .h appy \u25a0 mood- when
informed early in the evening that his
bond was ready ; arid that the '-final de
tails of hiß- release would be'complet
ed before 10 o'clock! He lighted a
fresh cigar and settled back I: In his
chair, his face' taking on -anExpres
sion of something ; that resembled
childlike delight-ran expression he
had not worn before in prison:. T v :•: •
Time and time ! again Brown took \u25a0
out his watch and looked at it,"men
tally clicking off the monotonous sec-
onds which he: firmly believed 'lay be
tween.him. and llberty:> When: het saw
Norton; C. .Wells,- one.; of his ; former,
employes, and Paul, Nippert,- ' local
manager of the • Aetna indemnity com
pany, at the threshold /of the prison
the financier sighed with ' relief and
eagerly went forward to greet"; them/
But one look at their facial expres-j
sions told Brown that i everything was
not what he had expected. - Briefly
Nippert and Wells informed him-of
the decision of • Judge ' Dunne." \u25a0 Brown
stood thunderstruck for a; moment land
then began pacing;the floor.v: ...::>\u25a0
He held a long conference. with Nip
pert and Wells. Both assured' him that
he would be a free man In the^mornV
Ing and offered their ; ; sympathy at Uhe
disappointment be .had suffered.
Nippert was * nearly: as fdisappblnted
as Brown. He talked freely V regard
ing the incident,: but ; refrained \ from
offering any comment on the action of
; Judge .Dunne. Nippert "..explained how
the bond had been; executed;: early/in
the " evening and taken to Dunne /for
', his 'approval.'. .
'Judge; Dunne said that his action did"
not reflect upon the Indemnity com
i pany In the least, but was" -,takeu
T^jSASmM
Personal Loans Made From
the Funds of! Depositors
Allen Griffiths . . . . .... . . ,$33^105.70,
' Marcel E. Cerf . . /.'... . . 214575.00
Ij. Storr* . . . : . . : . . . 25,000.00
.; AY. T. Kearney .... . . : i.~ 28^050 A0 .
A. D. Kash . . . . . . . '. . . . . . / 28,000.00
M. A, Jlurpby .. . . /.'... ;. . -15,000.00
JaIDM K. Ut-Knn . . ... ... 40,603.00
John D.'Rol>ert»on ..,'"... 13^500.00
R. D. Fry . . : \ V: ... . '.': . 94^500.00
,H. R. Brnd ford . . . ; . . . . . 47,500.00
: E." P. Vandercook ~r. : ; . . 12,000.00 ;
Oscar JVewhoime \u25a0.".... . ':: 10,000.00 /
31. A. Raphln . . ......... 25,000.00:
M. B. May na rd ......... 220,000.00
I merely as a matter of precaution. He
'\u25a0 added that he warned • Bartnett against
; employing the Aetna.company and that
Bartnett had taken his advice and gone
Two Factions of Depositors
Will Work Harmonio usiy
Merge Interests and Arrange for
Permanent Organization
Eight hundred depositors of the sus
pended California - safe deposit , and
trust company met in mass meeting in
Dreamland rink last/evening and
steps^ toward forming :a f co-operative
movement to secure a share of control
over?the affairs of the institution to
which their savings had been intrusted.
Superior Judge Carroll Cook presided
and ~i a plan was formulated for a,gen
eral mass meeting to be held at 8
o'clock Thursday night In, Dreamland
rink, when a system of permanent or
ganization* will be : presented for tho
consideration of "the depositors.- \u25a0 C
The meeting last night was-the out
growth of that held; Monday evening
in Calvary church under the arrange
ment of the J. W. Raphael committee,
and < with it .was merged ; the meeting
of yesterday .-morning \u25a0 called by C. F.
O'Callaghan and presided over by
Judge J. R. Aiken., .
/A compromise was effected last even
ing; between the two groups : by the
adoption of a motion authorizing Judge
Cook to appoint the ; Raphael \u25a0 committee
to . copfer % with the: Aiken committee.
The presiding officer waif? made a mem
ber of this joint committee. It was or
dered also that the; chairman Vappoint
a committee of nine,': which was.subse
cfuently enlarged to_eighteen, to report
on permanent- organization at :•- the
meeting tomorrow ntghL' >
The joint committee will meet at
noon today In Judge Cook's 'chambers
In P'illmore street to canvass the situ
ation, and the personnel, of "the com
mittee. on permanent organization wjll
be announced.' ;•- :f /
There was a depositors' meeting 4ri
Dreamland rink in. the morning, at
tended by about 150 interested-men and
women. Judge M.' R.YAiken ; presided.
It was the sense of this meeting | that | a
trustee and not a receiver be appointed
,to look after the interests of depositors.
O'Callaghan insisted that .; some ; man" of
integrity and- known ; ability "be se
lected "to act as 'trustee and suggested
Raphael Welll. v, /
The meeting, recognized the fact: that
(the" Raphael?, committee- had : . been
the more active intworklng 3 forlthe de
-posi tors and decided >to appoint a com
mittee .which], would .be' empowered to
meet with ; the/Raphael., group /at- the.
evening meetings iThis. committee was
composed of.D.-*J. Grauman.J." A. John
ston,/ J: D. . Isaacs, 'J. R. Aiken, J. 'C.
Culren, Mrs. Sorbler, Sol. J. Leyj', Ado Iph
Meyer and S. L. : Leszynsky. r
- In the "rooms, of /the stock- exchange
yesterday -morning .the -stock" holders
of/ the -.bank-.; held a O. ; M. ;
Goldaracena presided. - The \ stock hold-;
ers were emphatic 'in the "declaration
that the officers of the bank,- both: in
and dut, of custody, should have: to re
sign/ and a committee was appointed
to;- wait on the directors and demand
their, resignations. David F.. Walker,
J.:.' Dalzell Brown and W.; J. ; Bartnett,
jt^r«vas^ conceded, .would resign from
, the wreck they had caused. Ihe chair
mah^ppoiritedthefollowing committee
to^meet with the depositors' 'committee
Jastvnight: O. M.. Goldaracena,7J. A.
Young, J. C' Brlckell, A. H. Williams
arid A._M. Bergavla. <; ;. : „ ; •
The "most important ' meeting^ yester
day was the one w.hich convened -in
Dreamland rink at : 8 o'clock. ; ,.* s J. X W.
Raphael announced ; that Judge •Carroll
Cook would : be : the | chairman \ of> / the
gathering. \ On the platform ; were" ; the
stock holders' : committee ? and ; , the Ra
phael committee, 1 consisting of . Raphael,
B. A. Weyl, J. B. * Molsant, O. i P. " Pon^
Sanford Felgenbaum and Samuel; l^osenf
helm. R. A. Crothers was absent.'" ,i/
To enter the hall depositors, had .to
show their passbooks and '\u25a0 blank cards
were circulated among : those % present,
to be filled out; wlth-the name, address
and amount of deposit of each depos
i tor. HBWBfttflMMßßgifey--' ; , "\u25a0'• -
In taking the chair Judge Cook -said
that the meeting;/ .was preliminary,; to
the farming iol an organization of
positors to take united action -to pro
tect;:their: interests. B. A. u Weyl • re
viewed >the-' work: of the.committee and
declared . that~lt was '/the.; desire 'of ._ the
depositors / that ,>\u25a0 no;';.receiyer. ; 'be v .,ap-;
pointed. J." R. Alken and Weyl: discussed
the! permanent organization < of \u25a0 alltde
positors. ,O. M. Goldaracena>of [ : the
stock holders' committee said { that he
wasalso a depositor, -i He: reiterated'the
desire that no receiver \ be; appointed;
butt that * the;banklbe rehabilitated.', 1. 1.
Brown spoke of . ' the % projected .? coi
i operative association of .depositors; and
| Frank -H. Gould discussed : the ' reorgan
4zatlon', of th^ :; bank r oh ' .the basis )'ot
Dyspepsia
Is an , indication that» the
stomach and other digestive
organs are weak, tired or
(debilitated. IL causes no
end of aches and pains and
is most* where
people bolt their meals and
hurry and worry as they
I dp.;in this country.
Hood'sSarsaparilla
cures dyspepsias-it* has " a
magic touch" in this disease.
For testimonials of remarkable cores
send for Book on Dyspepsia, No. 5.
,C. I. Hood Co^ LoweU; Mass:
Avoid "•ubttltutei "so-called itVICHY" I*,1 * ,
-': offered by unscrupulous dealers
'"Cqmpany Loans" as Revealed by Books
of the Wrecked Financial Concern
Jamea Treadwell and C^arlw Treadwell (no<f») .*. .......;... $907,500.00
James Trpadv».rll and Chnrle* TreadTvell (overdraft) ... . . . ".''.'. . . .169,383.00
•W. J. Bartnett' (note) . . .- : . . : '/i\^:i '. .'.'^'.-.. . . .... .......... ...... '. 2,151.58
AY. J.'BartnettH overdraft)' .'.-\u25a0.. 52,134.11
B.M. Bradford (note*) ..;":.. ....... ... :. . .. ..... ..... 454.410.00
R..l»._Fry (unsecured; notes) ........ —;. 12,000.00
James ' Snlee' ; (unsecured) ........'.... ...;..'..... 35,000.00 "
E. P. Vandercook (un«eiMired) ,: ..................... .. ...; 12,000.00*
Sari Francl«co 'and ?san -Jose Coal: eoinpnnj- 4 overdraft)- . . . . . .- 21,680.00
San Francisco ,nn«l '.San Jose Coal conipany < note) -.". "'. ...... ; , 200,000.00
Sncramenfo-lJike Tnhoe railways (overdraft) . ;". \u25a0;"-. .... ..\. . . . 13,320.21
Saeranteiito-I^ake fahoe" rallviy . (note)' ;:•'.-.'. '\u0084 . ... .... :..-... . ';\u25a0\u25a0'\u25a0 . 25,000.00 .
Trinity Bonanza Kliik mlniiiK company, (overdraft) '.. - ,8,662.29
\u25a0 I'nclfic wlndnw glnss comiiany (overdraft) .." . .: . . .^. . i , . ... . . 22.t32.53
;-I'aclflc,ivlndoTr «ln«s company (unneoured notes) 7 .*; .M ...... 100,000.00
-Trinity Water and povrer company (uneseured note) T7 . .". . ... . 360,000.00 '
CaimeKle brick and pot'ery, company (unsecured note) . ....... 376^35.00;
California cement and lime con»panyV(nnseeured note) /'....;.".. 50.000.00
Lorraine mlnlDK company (unsecured^ note) i . . ....;.. . . . . . ..-.". 27J500.00
: CentralVCountles company -(unsecured note) . ; '. ..... '. . . , 32^(00.00
Western ''«e.car!tlf » ' Company (unsecured) .. . . . . . . .'. .. .'. ... .... 105,000.00
' El' Dorado lumber'. oompany (unsecured) .' ... .• ' 280,000.00 .,
Berkeley; Chemical. Company ....'..:. .... ..... ..... ... ... .... 50.000.00
Doußla* 'investment .*...". :...".. ..." . . . ... 35,000.00
.Clinton : land, company .... ........'...,.,..... .'."; . . . \u25a0. . .-. .... . • 62^500.00 '--
Total' ; . . ....... .$3,453,089.02
* -'\u0084.' \u25a0\u25a0._..-. r •--\u0084; . ' \u25a0, , , _\u25a0 \u25a0 » »' * ' ' JTWlTllilfM BTiilTfl'liliililWlii n' rwm ri iln \u25a0 1 -|i>rr
depositors/securing preferred stock in
proportion* to their, deposits,. while com
mon; stock ; would be held by. the stoftk
holders of the present regime. •
.Votes r were ,then taken on the ;form
ing.; ofv: the committees of the ;two
groups into' a joint conference commit
tee! and ; on I the, appointment of. ."a com
mittee of nine on permanent organiza
tion.'; -|This flatter step ;• was taken, on
motion- of i.v I.- Brown. : The', motion
carried, but was.^ subsequently amended
byj I*rankt.H. ;Go*ufa, ; ;Who moved that
the .committee .be. increased , to; 18. The
original . : nine are; to be ; selected, from
the Joint -committee and the] additional
members {chosen at large. The meet
ing: adjourned .wild' cheers to' meet
Thursday.^ > -
A meeting 'of depositors," from which
stock holders and, debtors ;':.wJll,->be ex
cluded, /has 'been : called ; for .Thursday
at L 2 ;p. m;, in Franklin ha!i; f ISBI -Fill
more street, by Attorney; Boynton.
Court Orders Search for
Colton Estate Securities
Washington Collectors Are Sent to
New York on the Quest
SPECIAL DISPATCH TO THE CALL
WASHINGTON, Dec." 10.— Charles A.
Douglas , ;and Brainerd -W. , Parker,
Washington/collectors of th*e estate, of
Mrs. Ellen \u25a0M. Colton, went to New
York this- morning to search for valu
able i papers r belonging^, to. ' the estate
which are believed to" be in' the vaults
of the Atlantic safe deposit and "trust
company" In that city. The papers are
val u ed ; at J 3 0 0,0 0 0. ; . >\u25a0
\u25a0/.The securities sought: are that por
tion of the 'estate obtained. from a local
trust .^company,! It is alleged, by
Bartn.«tt,;.who was appointed, a. special
administrator- for the California courts.*
The securities yn-ere taken to Calif ornia
by Bartnett ; and deposited: with the
California safe; deposit and trust'com
pany. .The 5 Washington attorneys, be
cpmlng 'apprehensive for the ; safety.: of
thejaecurlties I supposed ; to ;be- -in .the
posse^sionVof?Bartnett.v obtained ?from
Justlcfc-BarnardjMt night his order 'au
thorliin g4 them . to>go* ; to , Ne w T 0 . 1 ".^ : ci ty
todayJandmake a ''search- for the"securi
ties, v. If- the sejirchers be successful in
locatlrig!: the %ZOG,6OQ worth ; - of : securi
ties the . court's j order directs the at
torneys ;. to ; take ., such I action' ; as may
seem^ best- to! them*. to' obtain -liegal pos
session of the papers.' * . ' '\u25a0
:fil In", the petition " presented . to Justice
Barnard asking for the authorization
tsf this action the Washington collectors
review \u25a0 In detail , th« , appointment ,; of
Bartnett; as- the"; v special administrator
of the estate by" the Santa. Cruz courts
and note particularly that he gave only
a $20,000 bond to cover these J300.000
"of securities. It alleged that after; giv
ing,'the bond : in -May, 1905, Bartnett
came to Washington ; and on demand
received f rom \u25a0 a s trust com
pany ;$250,000"in; bonds and other papers
and* valuables .worths sso,ooo, forming
part . of . the ; Colton ' estate. '; It .is said
that Bartnett : took these with him to
California i arid ; that under an \u25a0- order of
the , California court he : was directed to
deposit' them In \ the California safe de
posit^and trust company. . ./ . • '. .
; : It ("Is alleged in the; petition -that oh
November, 9_; this /trust company <; sus
pended; ; two days later a demand "was
made on the officials of the company, to
exhibit the Colton securities, -but: they
refused to give '\u25a0 any . inf ormatfon about
them. It 18 V alleged further t that , a
bank examiner of California swore un
der oath that these securities were not
in; the .vault of . t)ie California safe- de
pp3itVand' trust company and that \u25a0 all
the r negotiable papers., deposited there
by /Bartnett had - been removed ; and
were then in a safe deposit box of the
Atlantic safe deposit 'I and trust cbm
".. >v / ." ; :,\u25a0,/:\u25a0"*--' i.-_ .:•-:/.- v- \u25a0*'\u25a0:*-- \u25a0"•.." "..-•"\u25a0 . : . -r
?* CHRISTMAS w
I WEDNESDAY^ THURSDAY AND FRIDAY/ 1
If STORE OPEX UNTIL »,Pi M. ',' ( g
| A SENSIBLE XMA& GIFT J |
I Cravenettes and Ra iiicoats f orv Men^ Women and Chi Idren 1
1 $15 Raincoats,\Three DaysV Special ' ' Cfl I
I $20 Priestley's Cravenettes, Three Days' (f T t%r 1
|?s24^igh Grade Cravenettes, Three Days' (fft Ef. §
I • 5pecia1.. v... .................... v., ja B 3|y|
I $28 Hand Tailored Cravenettes, Three fr*A : -"f jKH
|\ . Days' Special:; -.:.\.^..:... 4>| |./0:I
I $35 Silk Lined Imiported Cravenettes, & A A lijj" ' : M
I Three Days' Special :-'^ r - :^"-"- / - ---^--- -- r "^ • ' ,'?"^' \u25a0 ?fc^t!, o " -' B
j $22 to $50lidies^&^
I Days' Special, $18:50 t0...... ....,;. r 1
I gss f Teamster , Fireman, Police Rubber ' and O fl fi 1
J: qilskin ;Coats^Three^ Days- Special; ;.. i
L " v->.v ->. Children's^Raincoats Almost} Given Away 1 i
GOODYEAR""RAINCOAT CO. I
:I692FILLMORE STREET » etwe engkary and post 1
I U ..\u25a0-•--; '- -\u25a0"-ay^mj '—sw iwf------- . \u25a0\u25a0*\u25a0\u25a0-, -;---. f y- -•\u25a0 \u25a0" - : *- : -->.*.- \u25a0: - ' ; - ;/\u25a0/\u25a0-• -:-:. '"\u25a0:-..•;-. . ..\u25a0'"-- / \u25a0/•\u25a0.- '-\u25a0\u25a0
L - . . . '/Tn^iOiilyTExcliiislveiKalncoatiHouße *in jSan^ Francisco. .7 ||
;;/;.-;-.;/\u25a0. /.//;'. -..•/=-•-/\u25a0"-;/-'\u25a0.;'«>\u25a0/\u25a0/\u25a0./-/\u25a0-•'\u25a0/; • \u25a0-.; \u25a0 •v-'r-- •\u25a0:\u25a0 \u25a0 • \u25a0\u25a0'-..-"\u25a0. :\u25a0* .-,. ..;.\u25a0:\u25a0\u25a0.; --.\u25a0;\u25a0\u25a0\u25a0. ..-\u25a0.. \u0084 -
;.._,... \u0084..,.. . — ; — : :—:: — : \u2666
pany of New York. It was alleged fur
ther in the petition that the same bank
examiner' had sworn that Bartnett had
hypothecated these securities for a
loanihe had secured jointly with David
F. -Walker, then president of the Call-,
forma safe deposit; and trust company,
from the Interborough national bank
of; New VSTork and ; that the\ securities
were held , in : the vaults of the Atlantic
safe deposit and trust company of New
York. ••\u25a0'.-; '-\u25a0:\u25a0; ' ;\u25a0: ;t- \u25a0 .• ,.- \ - /
It.iis the belief of the Washington
attorneys now in New; York; that unless
speedy action^ be taken to obtain these
securitiesothey wills be lost entirely to
the, Colton, estate. Justice Barnard is
asked toappolntan attorney or attor
neys in New York to act. compensation
to be paid out of the estate.
Petitions Superior Court
for a Transfer of Trust
Spring Valley Asks That Union
f Company Be Substituted .
A petition to Presiding Judge Coffey
that the resignation of , the : California
safe deposit and trust company as
trustee under the : deed of trust of the
Spring Valley water works be accepted
•and that ,the ; Union trust company of
San Francisco be appointed trustee in
its place was filed with the county
clerk .yesterday. ; The trust was made
in May, ,1887, and the California safe
deposit and trust company resigned as
trustee on Noyember 27, 1907, subject
to :, acceptance; of, the resignation "by
the superior cotrrt.
It is explained in the petition that
the Union ;trust company is trustee of
other bonds of the Spring Valley com
pany and that the change is being
made solely for the purpose of having
a single trustee for . all of its bonded
debts. , ~
A: : E. Shaw, attorney for the Spring
Valley water: company,; said after the
filing of the petition that the California
sale deposit and; trust company held no
funds to the Spring .Valley
water .'•,'** . .":.*"\u25a0\u25a0 "\u25a0.'. \u25a0-':"-.
.-/Four suits on behalf of trades unions
having .money *on in the in
solvent trust company., were filed yes
terday ; the , directors. The
unions suing, ; together; with the^ sum
sought ,to_ be : recovered by each, fol
low: - B^y and river steamboatmen's
union, $7,716.71 and - $1,000 damages;
sailors' union, $25,^95.69 and $5,000 ex
emplary damages; marine* cooks' and
stewards^ association, $11,308.33 and
$5,000 exemplary, damages; Alaska
fishermen's /association, $24,251. 33Vand
$5,000 exemplary " damages.
In another suit against the directors
of the company- instituted by- a de
positor ; yesterday, Mary S. Sullivan
asked for $4,115.70. * She -charged the
directors -with having misappropriated
J5.000.000 and : asked • that a receiver be
appointed. She; brought the action :"in
her own ;behalf and such other credit
ors as may choose to join with her."
Western Pacific Accepts
* Resignation of Bartnett
.: At .'a meeting r of" the: board of direc
tors- of "the .Western Pacific railroad
company yesterday :the; resignations of
iWalter "J.~ Bartnett as general counsel
and; vice; president" and Marcel ; Serf aa
assistant attorney were accepted. We \u25a0>
reh; Olney'.; Jr.. was appointed to- suc
ceed-"Bartnett ;,and ; William A. Magee.
td; succeed -Cerf. , : : , ;-
;T; T i ßartnett has; been identified with the
Western f Pacific since its; inception; In
fact.!? has :\u25a0 been v considered' the father
of : the* project.: He 'procured the teri
minal' rights; for the; road over the
.vigorous -opposition of the Southern
Pacific and was looked upon as George
Gould's 'confidential man on the Pacific
si ope.^HpffißSß
, Olney; also has been identified with
»the /Western Pacific and has co
operated with Bartnett. He 13 famil
iar with the business of the company
and will carry along its work with
out Interruption.
-"^Bartnett spent the early part of the
day -arranging his business affairs on
this - side - off- the bay. .He conferred
with Marcel Cerf and Hiram Johnson,
his attorneys. It is said that Bartnett
will set up as his defense; the claim
that he placed the. money in the bank
in his. own name and believed It safo
until two days before the bank col
lapsed.'
\The bank .commission, rescinded its ]
action, yesterday in " regard to the bank
SOUND ECONOMY IN
CHRISTMAS BUYING
Why Not a Gift That Will Be a
Pleasure for "a Qeneraition?
A Fine Piano or the Autopiano a Gift
to All the Family— Prices to Suit
the Times at Eilers Stores
$318 Gets a Style Always Sold at $500— 5400
Styles Now at $256, $278, $284— 5180
Gets a Piano Advertised by Other
Dealers Last Year at $375
FREE COURSE OF LESSONS WITH EVERY PIANO
This is to be a Christmas for sound
economy. No one can afford to put
money Into useless knick-knacks that
have no value and that are forgotten
in a day.; -A grift that Is sensible, that
adds to the pleasures of the home every
day ; in the year; that is part of one's
education itself, isn't a waste of money,
but a careful investment.
.What better answers of these tests
than a fine piano or genuine Autopiano?
FORTY GOOD MAKES
The Eilers stores offer 40 different
makes— the finest American pianos in
their respective grades, from the cheap-
est pianos that are dependable to those
exemplifying the highest standards of
workmanship and material. : The aris-
tocratic : Hazel ton, 'wjtiich predominates
fn the wealthiest New York homes; the
California favorite. Decker & Son; the
.world famed Kimball; the beautiful
Hobart M. Cable, the sweet toned Les-
ter and many others are open to your
choice for the Christmas gift, and all
at prices that make buying at this
time a shrewd investment. .~~- ,
You may want a $600 piano, but $4X2
or $438 will get it for you. $318. $342
and $357 brings a piano that has always
sold, at - $500> Styles regularly priced
at $400 now go at $256, $278 and $284.
$180 getsapiano advertised by other
dealers this year at $375. Pay as little
as $6 a month. ' ' -
FREE MUSIC LESSONS
\u25a0\u25a0 .' ;>\u25a0 - \u25a0 -,"--• > ' - - \u25a0 — y '\u25a0 - \u25a0• \u25a0 • \u25a0 '
' Included with each piano sold is four
months* course ,< of . free music lessons
for which the Eilers Music Co. pays
the tiill. Select your own teacher and
your, own instruction books > and' they
will be: paid for by the Eilers stores.
This broad, liberal Christmas offering
is in. harmony with the times and will
solve I the Christmas ' question for many
a family. HBBB6BI3SSB
. -The first announcement brought 14 i
I FAIRMONT HOTEL
EUROPEAN PLAN.
Rain 92.50 a Day and Upward
Cuisine and Service . Unsurpassed.
All rooms outside.
\u25a0 Every room with bath.
BYTHBPALACE HOTEL COMPANY
John C. Kir kpa trick, Managtr
, > TEA
Poor tea. is the older
leaves, not the young ones.
There's top mucK: of it.
Tour grocer returns your monej If yoa
-don't .like Schilling's. Best; we pay him.
J. B. MeINTYRE BINDERY CO,
! . * B *~atc binder \u25a0•fS^BESif
; 1161-1165 Howard Street.
BETWEEN - SEVENTH AND EIGHTH. I
Tel. No. Marfcet 2360. San Francisco. {
. )
WEEKLY CALL,SI YEAR j
I PULLEYS, SHAFTING, HANGERS If
I Second Hand, but Good as New— Only Used 3 Months 1
II \u25a0 No. Diameter Fac* Bora »|
II 'J> 2 30-inch 8-inch 11 5-16 inch. Steel Rim fl
I 2 20 r 5 - 1 15-f^ " Steel Rim \\
B-" - 2 18 " 8 "'" 115-16 M Steel Rim \\
% 2 16 M 6\u25a0 v 1 15-16 " Steelßim If
I : 28 M 4 " 1 3-16 " Steel Rlm^ I
M 1 24 " 4 v 3 - Cast Iron ' q
P 1 24 r • 8Vi m 115-16" SpUt Steel U
ft 1 16 - 4M»" 1 15-16 - Split Steel tl
|i 1^ 20" B •\u25a0". 1 15-16 . - SpKtSteel if
I 1 8 " 6 " 115-16 - C»t Iron 11
\u25a0 1 10 M \u25a0\u25a0-. 4 v 1% " Steelßim \\
I ;1 10 " 3 " IVi " Steel Rim fl
II 1 18 - 6 \u25a0••" IVi " Ca.t Iron If
I 2 8 - 3 " iy 3 -: Cast Iron ||
| 1 ;i2 *" 4 v lVi " Steel Rim |1
II 3 Coupling* with Bushings for 1 1 5-I S ' inch shafting fl
§j 1 Clutch forli 15-16 inch shaft, ||
r| 2 lengths Shafting 1 15-16 inches di«. — 18 feet long. |J
\u25a0 g : '\u25a0' 1 longth ' Shafting , 1 ; 7-8 inch es dia.— l s feet long, I]
q 14 16-inch Hangers and Bearing*. % \u25a0 H
g * 3 14-inch Hangers and Bearings. ! W
If A|>ply to E- P. GOSLING i
iHi Room 200, Claiis Spreckels Building, Market and Third sla S
1 SAN FRANCISCO p jj
of .William Collins & Sons at Ventura
and decided "to give that Institution a.
few; more days' grace. The commis
sion voted on Saturday to ask for the
appointment "of a receiver, but sine*
then representations have been mad©
to '"the" effect, that the stock holder"*
will be able- to rehabilitate the Insti
tution.' The commission has deter
mined to give them a chance.
Preparing Complete Report
for the D istrict Attorney
Through a report -of special repre
sentatives retained t» make a thorough
investigation of the affairs and ac
counts of the California safe deposit
Continued on Pax* 3, Column t
piano sales and already over 80 pianos
have been 1 set aside for Christmas de-
livery.
THE AUTOPIANO
No musical instrument has ever at-
tained the popularity enjoyed by the
I Autopiano. Everywhere It is being
; placed. In homes, in -clubs, In apart -
ments, on battleships, and everywhere
it captivates the lovers of good music
The Autopiano is the piano of the fu-
ture. Its mechanism is the most simple.
the most effective. It leads in tha
most up to date improvements anjJ
makes possible the most artistic ej^i
presslon.
Every membw of the family can piny
it. from the little child to the grand-
father and grandmother, and to every
one it i 3 a ioy.jgPg MCali
The Autopiano tn no haphazard com-
bination of player and piano: it is on»
harmonious Instrument, made in one
factory and dependable in every part.
The owner of the Autopiano has none
of the annoying troubles so frequently
found in other player pianos. The
price is no greater than mother dealers
ask for an ordinary piano of equal
grade, and we will take_jrour "silent"
piano in exchange at a liberal allow-
ance. Monthly payments If desired.
A BINDING GUARANTEE
. Every \u25a0 Instrument sold carries with
It the Eilers guarantee. Insuring the
return of your money if the piano you
buy is not satisfactory.
All of our stores will b« open every
night from now until Christmas. You
will be* wise to have your piano set
aside now. We will deliver it at any
hour - you suggest at Christmas time.
Kilera Music Company, 1130 Van Ness
Ay.. 1220 Flllmore St., San Francisco.
1075 Clay St., Oakland. Shattnck Ay.
and Bancroft way. Berkeley. Stockton,
San Jose, Eureka. Reno, Nev.
"1 tried all kinds of blood rem«d!«s whfch fsl!«4
to do mo any cood bnt I b*»# found th« rtjiu thing
at List. Mr fac« waa fall of pimples and black*
head*. After taking Caaeante they all left. 1 aa
continuing the nso ot^bem and rocounMadlng
them to my friends. 1 feel fine waen I rise in t&« '
morning. Hope to have a chance to recommend
CaaeareM."
Fred C. WUtea, J« JEI m St., Ktwark. N. J.
CANDY CATJUJmc
P!oa»»n». Palatable. Potent. Tas«« Good. Do Good.
Kerer Sicken. Weaken or Gripe. lOe. 25c, Me. Ne-rav
told In bnlk. The genntne tablet stamped GOO*
I Qnaranteed to care or your money back.
Sterling Remedy Co., Chicago or N.Y. 505
AHHUAL SAIE, TEM MIIUO j» BOXES
W.T.BESS, Notary PnbUc
ROOMS 407-409 CALL BIS3G.
At Residence. 1480 Page Street, Be-
tween 7 p. m. and 8 p. m.