13002. Farmers & Merchants Bank (Reno, NV)

Bank Information

Episode Type
Run Only
Bank Type
state
Start Date
April 30, 1906
Location
Reno, Nevada (39.530, -119.814)

Metadata

Model
gpt-5-mini
Short Digest
b47da39d89e9337b

Response Measures

None

Description

Article (1906-05-01) describes a brief panicky crowd lining up to withdraw funds at Reno banks including the Farmers (Farmers & Merchants), but the flurry passed and the bank ended the day with more cash. A later (1907) article mentions a tax suit against the Farmers' & Merchants' Bank of Reno. No suspension, closure, or reopening is reported. The bank's charter type is ambiguous: the 1907 article notes the bank claimed it was a 'national institution' for tax purposes, but the name lacks 'National'; bank_type set to unknown.

Events (2)

1. April 30, 1906 Run
Cause
Macro News
Cause Details
Brief panicky withdrawals and heavy activity at Reno banks on April 30, 1906; likely regional financial nervousness following the San Francisco disaster (April 1906) although the article does not explicitly state the cause.
Measures
Additional coin deliveries (Wells Fargo wagon unloading sacks of coin); public reassurance and acceptance of deposits; no suspension invoked.
Newspaper Excerpt
When the Reno banks opened this morning there were lines of people on hand with checks to cash and men who wanted to draw out their deposits... Money poured into the Washoe and Farmers Banks by the barrel.
Source
newspapers
2. November 6, 1907 Other
Newspaper Excerpt
the district attorney of Washoe county has filed suit against the Farmers' & Merchants' bank of Reno to collect taxes for the years 1904, 1905 and 1906. The bank refused to pay the state tax, on the ground that it was a national institution, authorized by the federal laws, and therefore not compelled to pay state taxes. The suit will be in the nature of a test case.
Source
newspapers

Newspaper Articles (2)

Article from Morning Appeal, May 1, 1906

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Article Text

RENO BANKS ALL RIGHT They Took in More Money Than They Paid Out Yesterday RENO, April 30.-When the Reno banks opened this morning there were lines of people on hard with checks to cash and men who wanted to draw out their deposits. There was for a while a panicky feeling in the air but it was soon over. One man walked un and deposited $25,000 and presently Wells rargo wagon backed up and began unloading sacks of coin. Money poured into the Washoe and Farmers Banks by the barrell. It was soon evident that both banks were sound and when the flurry was over both banks had more money in their vaults than they had before.


Article from The White Pine News, November 6, 1907

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Article Text

Reno is now on a paper basis. The banks and merchants are doing business with clearing house certificates. Ten thousand miners have been discharged from the mines of Utah during the past month, and it is reported that further reductions will be made. Lou Henderson of Elko has qualified as state auditor to succeed the late Nate W. Roff. Mr. Henderson has entered upon the discharge of his official duties. For the first time since the San Francisco disaster in 1906, not a car of freight remained in the yards of the Southern Pacific company at Sparks last Saturday. William J. Brewer, who promised to pay for a special excursion to the east in order to advertise Nevada, has left the state and joined the Salvation Army in Los Angeles. Farmers on the Truckee meadow around Sparks are making a strong protest against the boys leaving the farm and seeking occupations in the city. When the boy leaves the farm the old man has to hire help and pay wages. Fred Dangberg and James Murphy of Douglas county, have leased for a period of ten years 680 acres of land from the Dangberg Land and Live Stock company. The land is virgin ground and located in Carson valley. It will be planted in wheat. The Great Northern officials at Seattle, Wash., have announced that the Hill system has granted an increase in wages and time allowances amounting to approximately $12 a month. The day's work of telegraph operators in the relay system is reduced from nine to eight hours a day, and Sunday overtime is raised from 40 to 50 cents an hour. A number of other concessions are given the men. One of the most wonderful strikes yet made has been uncovered on the Fairview group of the Seven Troughs Mining company at Vernon, and which will make the other camps in this state look to their laurels. A vein has been cut in the hanging wall at the 400 foot level, twelve inches of which averages $2,000 to the ton. Two inches of this remarkable ledge goes 60 per cent in gold. T. G. Herman, who owns several large ranches in the vicinity of Wadsworth, the former prosperous railroad town, states that Wadsworth has nearly disappeared from the map and that there would be absolutely nothing doing there if it were not for the Olington mill of the Nevada Consolidated company is running steadily and that the mines in Olinghouse are being extensively developed. In accordance with the report submitted by the late Auditor Roff, the district attorney of Washoe county has filed suit against the Farmers' & Merchants' bank of Reno to collect taxes for the years 1904, 1905 and 1906. The bank refused to pay the state tax, on the ground that it was a national institution, authorized by the federal laws, and therefore not compelled to pay state taxes. The suit will be in the nature of a test case. Division Freight and Passenger Agent Clapp at Reno on Monday afternoon received a telegram from San Francisco stating that beginning with November 10 trains 25 and 26 will be discontinued between San Francisco and Goldfield but in order to give the public a night service to Goldfield train 24 will be run, so that it will leave San Francisco in the morning instead of in the evening and will arrive in Reno in the evening about 8 o'clock. It will then continue on to Goldfield and will arrive in that city in the morning. Owing to the greater part of the roadbed for the Western Pacific railway being finished for a considerable distance west of Winnemucca, says the Star, many of the grading outfits are coming to town enroute to some other point on the road. From the time the contractors started in at this point work has been rushed on the road bed. The grading is so far advanced here that track laying can be commenced at any time. It is understood that track laying westward from Winnemucca will begin the first of the year. A number of teams are engaged in hauling rock for the bridges across the Humboldt river near town. At the same place the pile driver is busy driving the timbers and it will be only a short time before trains can cross on the temporary bridges. Tracklaying on the spur track is proceeding rapidly. When this track is finished material delivered by the Southern Pacific can