When the Bank of California opened the next morning a rather ominous looking crowd was in waiting. Lines began to form behind the paying tellers’ windows. It wasn’t a “run,” but a “near-run.” Ralston appeared on the scene and looked annoyed, as he said, “Why are you making so many of our customers wait on a busy day? Put more tellers on the windows and have your coin on hand.” More tellers went to the windows. Porters brought tray after tray from the vaults. It was amazing how the crowd changed their minds about wanting their money and melted away. And all over the troubled city the report spread that the Bank of California had coin to burn, and the news caused a general relief. Nevertheless, a serious run started on one of the leading banks. Ralston hurried to the spot, mounted a dry goods box and addressed the crowd. He told them they were doing the bank and the city a great injustice. He declared that the bank was absolutely sound--which was the truth. He further told the crowd that they need not wait for a line-up. Just bring their books to the Bank of California and they would be accommodated with the cash there. Again, the crowd slunk away abashed. Thus a tremendous panic, the consequences of which might have been world-wide, was averted by a bold front, a nervy bluff backed by a million in cash. Three days later, President Grant reversed himself and allowed gold to be exchanged at the Sub-Treasury for cash, which settled all anxiety. This was brought about through the agency of Jesse Seligman, the New York banker, who gave the President a banquet and then showed him his mistake. But neither Mills nor Sharon, who were leading officers of the bank, ever knew how Ralston gathered in nearly a million dollars after banking hours that day. All the satisfaction they ever got was that a kind friend had come to the bank’s assistance. CHAPTER XVIII. “BIG FOUR” INTERVENES AND SETS UP OBSTACLES; RALSTON ACTS AS MEDIATOR AND IS BADLY GOLD-BRICKED. _Railroad Madness Results in the Narrator Securing Franchise for Line From Sausalito to Humboldt._ Way back in 1868, the Legislature passed a bill giving a franchise to a corporation organized under the name of the San Francisco & Humboldt Bay Railroad Company, to construct a railroad from an indefinite point on the bay of San Francisco to Eureka, in Humboldt county. The franchise was coupled with a provision that the electors of the counties through which it passed should be authorized to vote a subsidy in bonds of $5,000 per mile, payable as every section of 25 miles was completed. That was about enough to pay for the rails. The franchise was later extended to the waterfront of Sausalito, but that was surrendered to the Sausalito Land and Ferry Company.