The Spirit of 1906Brooks, George W. (George William)
History
The Spirit of 1906
Brooks, George W. (George William)
Earthquakes -- California -- San Francisco; Insurance, Disaster -- California -- San Francisco; Insurance, Earthquake
Betweenwhiles, as one crisis after another came and went, I was still
constant to the idea and still felt my responsibility to the California,
and from time to time as circumstances permitted, was strenuously
endeavoring to reach the directors and stockholders. The president, in
spite of his optimism, had fled from the Hotel St. Francis and gone to
the home of his mother on Clay and Larkin streets. For the same reason
he left there and went to the yards of the Fulton Iron Works where his
yacht "Lady Ada" was laid up, got her off the ways and tacked over to
Tiburon where he remained for some time. Finally word was received from
him that the directors of the company would hold a meeting at the Blake
and Moffitt Building on the corner of Eighth and Broadway, Oakland, on
May 2, 1906. Who really located them, scattered as they were, and finally
got them together, has remained an unexplained mystery. It must have
been either the president or Chief Clerk Shallenberger. The late Mr.
James Moffitt, a stockholder in the company and the owner of the
building named, kindly secured for us two rooms in that building for an
office. They were on the third floor facing Broadway and the location
and the habitat of the company was disclosed by a canvas sign which,
banner-like, hung upon the outer wall proclaiming this to be the office
of the California Insurance Company. For furniture, there was a flat top
desk and a typewriter (both secondhand) and the balance of the equipment
was handmade, of ordinary lumber, by a local carpenter. There was not
very much cash among those thus assembled, but, fortunately, the company
had maintained a deposit in an Oakland bank and this was immediately
available for checking purposes.
First Meeting of the Board of Directors
Quietly and almost silently the directors gathered. The only emotion
apparent was that of the usual caution shown by men of large affairs who
meet to face a crisis. The president called the meeting to order and
stated that the object of the gathering was to inform the directors that
the company was heavily involved in the conflagration which visited San
Francisco on April 18, 19 and 20, 1906, that the amount of which
obligations was at present unknown, that they overshadowed the resources
of the company and that ways and means would have to be devised to
finance the California through this crisis.
The fire maps of the company were entirely destroyed and it was not
advisable to open the safe in which the records of the company were kept
until it was sufficiently cool to prevent danger of combustion. In light
of these facts, it was impossible to immediately ascertain the actual
amount of the company's obligations.
Public-domain text, read in full here on John Shaqi.
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