pay all its obligations,” etc.  I answered he could speak for himself, but not for me; that I had come to offer to buy with cash a fair proportion of his bullion, notes, and bills; but, if they were going to fail, I would not be drawn in.  Height’s manner was extremely offensive, but Mr. Page tried to smooth it over, saying they had had a bad day’s run, and could not answer for the result till their books were written up.

I passed back again into the room where the before-named gentlemen were discussing some paper which lay before them, and was going to pass out, when Captain Folsom, who was an officer of the army, a class-mate and intimate friend of mine, handed me the paper the contents of which they were discussing.  It was very short, and in Henry Haight’s handwriting, pretty much in these terms:  “We, the undersigned property-holders of San Francisco, having personally examined the books, papers, etc., of Page, Bacon & Co., do hereby certify that the house is solvent and able to pay all its debts,” etc.  Height had drawn up and asked them to sign this paper, with the intention to publish it in the next morning’s papers, for effect.  While I was talking with Captain Folsom, Height came into the room to listen.  I admitted that the effect of such a publication would surely be good, and would probably stave off immediate demand till their assets could be in part converted or realized; but I naturally inquired of Folsom, “Have you personally examined the accounts, as herein recited, and the assets, enough to warrant your signature to this paper?” for, “thereby you in effect become indorsers.”  Folsom said they had not, when Height turned on me rudely and said, “Do you think the affairs of such a house as Page, Bacon & Co. can be critically examined in an hour?” I answered:  “These gentlemen can do what they please, but they have twelve hours before the bank will open on the morrow, and if the ledger is written up” (as I believed it was or could be by midnight), “they can (by counting the coin, bullion on hand, and notes or stocks of immediate realization) approximate near enough for them to indorse for the remainder.”  But Height pooh-poohed me, and I left.  Folsom followed me out, told me he could not afford to imperil all he had, and asked my advice.  I explained to him that my partner Nisbet had been educated and trained in that very house of Page, Bacon & Co.; that we kept our books exactly as they did; that every day the ledger was written up, so that from it one could see exactly how much actual money was due the depositors and certificates; and then by counting the money in the vault, estimating the bullion on hand, which, though not actual money, could easily be converted into coin, and supplementing these amounts by “bills receivable,” they ought to arrive at an approximate-result.  After Folsom had left me, John Parrott also stopped and talked with me to the same effect.  Next morning I looked out for the notice, but no such notice appeared in the morning papers, and I afterward learned that, on Parrott and Folsom demanding an actual count of the money in the vault, Haight angrily refused unless they would accept his word for it, when one after the other declined to sign his paper.