Show The Pacific Bauk Boston 29At a meeting of the directors direc-tors and principal stockholders of the Pacific Bank the condition of the banks affairs were explained bv Examiner Needham In order to resume business the bank must be Able to meet liabilities of about 3800000 These include I 1600000 due other banks the remainder being divided between depositors and holders of certificates of deposit The assets to meet these claims comprise Weeks miscellaneous securities to cover his debt of 1250000 the sum of 1500 000 due from other banks specie and legal tender notes on hand and probably 2000000 promiscuous loans and discounts dis-counts An indication of tbe character of these securities is the shrinkage of that portion which have a total face value of 3250000 to the extent of making it necessary ne-cessary to raise 1500000 cash before the bank can resume The directors are not yet ready to give the public the details de-tails of liabilities and assets The insolvency in-solvency ol the bsnk is entirely due to Weeks indebtedneE and that it will pay 5000000 of the sum necessary to pull the bank through its difficulties Several stockholders offered to subscribe 5000000 to this bd A committee of directors and stockholders was appointed with instructions to make a further canvass can-vass among all stockholders and obtain the sum necessary for resumption |