Show A california bank collapses oal oct ac the merced bank lias been doing buei nesa hero cirice 1876 closed its boora this morning the failure is duo to the banks inability to on its atiee aa yet the officials of the bank have made no public statement but it is known that the bank had over loaned to merchants and ranchers of this community on which they could not realize tho concerns statement to the state bank commissioners in july last gave tho banks resources as the principal items ot the banks at that time were in coin due depositors due other banks the directors 0 the bank are all aub business men it is believed that the depositors will be paid in lull and that htiu failure will have no disastrous effect upon the business of tho community while the failure is undoubtedly due to abo general financial stringency the immediate cause of the suspension is said to be of a political nature for years it has been customary for the county treasurer to the county funds in open deposit with the three banks ot merced county treasurer bartlett was defeated lor in tho recent democratic county convention ven tion and attributing his defeat to tho interference of alie officials of the bank he demanded the county funds deposited with the bank part of the money was paid to him other depositors learning of the action of the treasurer withdrew their deposits thus was started a run which the bank could not meet this evening there is a report that Treasurer bondsmen will compell him to withdraw the many thousand dollars which ho hea on open deposit with the commercio Com merci sav 1 bank and the security savings bank |