Items of Interest June 2, 1906 Issue

Items of Interest

The San Francisco banks, on the day they opened for business, May 23, had in their vaults about $45,000,000 more than they had at the time of the earthquake. This is the estimated amount of money transferred to the city through the Sub-Treasury and by express from New York City and in various ways from Chicago, Denver, and New Orleans. The President of the San Francisco Clearing House Association said, regarding the financial situation: "The banks are all solid, money is abundant, and the situation financially is excellent from every point of view." An official of the Wells Fargo Nevada Bank said: "It is the old story of the perversity of human nature. What we can have we want not; what is difficult to obtain we set our hearts upon. Our bank has in its vaults immediately available in cash $20,733,346,26. So while we expected somewhat of a rush we were prepared for it. We have had little or no calls for money."

The tax collector supports the statements of bankers that cash is not scarce in San Francisco, and citizens are not at all backward about paying their taxes. He says that the indications are now that the delinquents' list will not exceed at most $250,000, whereas in normal years it is $200,000. Of $1,000,000 due on April 18 more than one-half has been paid.

A statement made that the day of the cable road in San Francisco is past has been sustained by the action of the Board of Supervisors in granting to the United Railroads the privilege of converting the cable lines into electric roads, with overhead trolleys.

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