14519. State Bank & Trust Company (Carson, NV)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
June 1, 1910*
Location
Carson, Nevada

Metadata

Model
gpt-5-mini
Short Digest
4594bced

Response Measures

None

Description

Articles consistently describe the institution as defunct and in receivership (receiver Frank Wildes) with suits to recover losses and sale of assets. No article describes a depositor run or heavy withdrawals; the failure appears driven by alleged mismanagement/shortages and resulted in appointment of a receiver and permanent closure. Dates of receivership and litigation appear in 1910–1913; I use June 1910 as an approximate date when receiver/closure was active (Article 1 shows active receivership litigation by 1910).

Events (3)
1. June 1, 1910* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Alleged losses, shortage to depositors and gross/negligent mismanagement by directors; receiver appointed to wind up affairs and recover funds from directors; suits underway to recover over $1,000,000 against directors and president Thomas B. Rickey.
Newspaper Excerpt
receiver of the State Bank & Trust company vs. the directors ... the receivership of the bank
Source
newspapers
2. June 11, 1910 Receivership
Newspaper Excerpt
receiver of the State Bank & Trust company ... Suit has been commenced in the district court ... receivership of the bank wherein a claim ... was compromised ... Receiver Wildes of the State Bank & Trust company ... is the complainant in the bank case at Carson, is in a San Francisco hospital (1912).
Source
newspapers
3. May 22, 1913 Other
Newspaper Excerpt
when the State Bank & Trust company closed its doors that the bank made an effort to get on its feet again ... Judge Langan appointed a receiver.
Source
newspapers

Newspaper Articles (11)
1. June 11, 1910 The Goldfield News Goldfield, NV
Article from The Goldfield News, June 11, 1910

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SUIT IS COMMENCED TO RECOVER FUNDS FOR THE STATE BANK DEPOSITORS CARSON, Nev., June 9.-Suit has Attorney Peck then took the matter been commenced in the district court in hand and stated that Mr. Rickey by Frank Wildes receiver of the State also desired a jury trial and while the Bank & Trust company vs. the directors position of Mr. Rickey was slightly of the bank, to recover an amount of different from that of the other direcmoney sufficient to cover the indebtedtors, still he wished it to be underness of the bank to depositors and stood that a jury was desired by all. others. The suit was conmenced This opened up quite a lengthy arguTuesday morning before Judge Langan. ment. Attorney Mack for the reThe directors of the bank with the ceiver contending that the matter was a case in equity and had been so held exception of Thomas Rickey were in attendance with their attorneys, T. B. by both th e federal court and Judge Rickey being represented by Attorney Langan and that the matter of a jury Peck of San Francisco. was out of the question. Judge Downey After the disposal of several other took the matter in hand and argued for the calling of a jury and claimed that matters regarding the receivership of the bank wherein a claim of the the rulings made by the federal court and Judge Langan did not cover the banks against a man by the name of matter at issue. After considerable Dolan, now a resident of Paris, in the sum of $2600 was compromised and discussion participated in by nearly all the attorneys, Judge Langan ruled that settled upon the payment of the sum he would listen to argument in the matof $1,250, $250 to be paid down and ter and would later hand down his dethe sum of $100 a month to be paid cision. until the debt is settled. The other It appears that Judge Langan dewas the offer of the Elks of Tonopah sires to rush the case as he believes to purchase the Sollender building in that city for the sum of $4,000, the that it lasted long enough and it is more than probable that he will decide court ordering that the matter of sale the jury question today and go on with be published as a ruling to be made in the case. Should he decide in favor of twenty days. a jury it will mean an adjournment of Attorney Summerfield, representseveral days until a venire can be subing one of the directors, then arose poenaed. The case will probably take and asked for the calling of a jury to hear the case. He stated that the disix weeks to try and will be bitterly contested. rectors, with the exception of Mr. The firm of Platt & Gibbons was Rickey, desired the case to be heard entered as counsel for Wils Brougher. by a jury and demanded the same.

2. November 12, 1910 The Eureka Sentinel Eureka, Tonopah, NV
Article from The Eureka Sentinel, November 12, 1910

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SENSATION IN BANK CASE Two Directors of Defunct State Bank Offer to Pay Part of Bank's Shortage At Carson last week C. T. Bender and George Mapes, of Reno, two of the directors of the State Bank & Trust Company, through Receiver Wildes offered to pay $20,000 each toward settling the affairs of the former banking institution, upon condition that they be freed from all further actions against them. The matter came up in the proceedings by the receiver against the directors to recover certain sums alleged to have been lost to the depositors through neglect of the directors. When Judge Mack, attorney for Re. ceiver Wildes, presented his petition covering the above offer the court room was in a hubub at once, and the news of the offer of Mapes and Bender to settle for their negligence in the conduct of the defunct bank spread like wildfire. Judge Laugan stated that.he would require time to consider the momenious matter, as to very important questions were presented. First as to the reasonableness of the amount and second, the right of the court to release two of the defendants and not the others. As no law covering the points had been presented he set the matter to be heard on November 11, and postponed the further hearing of the case of Wildes VS. the State Bank & Trust Company directors until the new turn of affairs could be disposed of. In the meantime notices were ordered printed in the Carson papers to ascertain the views of depositors as to accepting or rejecting the offer.

3. June 27, 1911 The Salt Lake Tribune Salt Lake City, UT
Article from The Salt Lake Tribune, June 27, 1911

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SUPREME COURT HOLDS BANKING LAW INVALID CARSON Nev., June 26.-Holding that the power of the law-making body had been exceeded by its attempt to legislate out of judicial hands pending suits against various officers of defunct banks of this state. the supreme court today declared unconstitutional section 79 of the banking law enacted at the last session of the legislature. The section in question placed the State Bank & Trust company. which failed some years ago, and several other institutions in the hands of the state bank receiver. Suits against President Thomas B. Rickey and the directors of the bank named. suspended pending the action of the court, now will be pressed.

4. October 7, 1911 Daily Independent Elko, NV
Article from Daily Independent, October 7, 1911

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BIG NOTE AT SMALL PRICE This afternoon in front of the court house Deputy Sheriff Ellis sold a twenty-five thousand dollar note for two dollars and a half. He also disposed of one hundred thousand shares in a mining company for two dollars. The notes were given by John Ross, Jr., to the State Bank & Trust company at the time of the southern boom. It was endorsed by Homer Wilson and W. J. Murphy. Doctor McClean bid in the note for the above amount. Upon looking "it over he came to the conclusion that it was the lost Charley Ross that the paper was really intended for. In the case of the 100,000 shares of the Wildman Consolidated stock the best bid that the sheriff could get was two dollars. Doctor McCelan also took this paper into camp. He states that he is using it for decorative purposes and wanted to add it to his collection. This is but one lot of such securities that will be cleaned out of the safe of the State Bank by the receiver.-Carson Appeal. :

5. January 5, 1912 Tonopah Daily Bonanza Tonopah, NV
Article from Tonopah Daily Bonanza, January 5, 1912

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FRANK WILDES ILL IN SAN FRANCISCO It is said that Receiver Frank Wildes of the State Bank & Trust company, who is the complainant in the bank case at Carson, is in a San Francisco hospital, and it does not look as if much head way would be made with the case this month, unless the receiver take a decided turn for the better, and is able to return to this state in a short time.-Virginia Chronicle.

6. January 27, 1912 The Eureka Sentinel Eureka, Tonopah, NV
Article from The Eureka Sentinel, January 27, 1912

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California, Oregon and Sierra Valley railways. The Commisson alleged discrimination against Reno in that the rates charged from Reno to points on defendants' lines were higher than the division of the joint rate from San Francisco or Sacramento received by defendants for the same hauls. The big sugar factory at Fallon has finished the run on the first crop of beets. It amounted to nothing commercially, but demonstrated that it is possible to manufacture sugar in this State. Next season there should be a substantial amount of sugar manufactured. As Nevada imports every pound of sugar that is used, it would appear that if the farmers will furnish the beets the people will furnish the money to buy the output. M. J. Smith, convicted in the Esmeralda District Court of high grading under an indictment charging grand larceny, has been paroled by the Board of Pardons. The parole becomes effective February 12, 1912. His term of service, after deducting credits, would have expired some time in September next. It is understood that the action of the Board was unanimous. One of the conditions of his release was that he should avoid Goldfield and leave the State. During his cross-examination by one of attorneys for the Directors of the State Bank & Trust Company at Carson last week, Frank Wildes, Receiver of the defunct bank, who is suing the Directors for more than $1,000,000, stated that he believed the losses of the bank were due to bad judgment on the part of the directors, rather than to gross and wilful mismanagement. He had sworn in his complaint that the directors had grossly mismanaged the bank and used extreme carelessness. State Engineer William Kearney has gone to Washington D. C., where he will confer with Government officials in regard to the operation of the Carey Act in this State. There is much land being taken up and irrigated under the Carey Act in Nevada, and it is to avoid any trouble that Engineer Kearney will hold this conference. At the present time parties under the direction Engineer Kearney's office are making a survey of the Humboldt River and all of its tributaries. The only dredging operations in Nevada are those of the Federal Mines Company, about 14 miles from Oreana, Humboldt County. It is a Risdon boat, equipped with 28 buckets of 5 cubic feet capacity. The power is furnished by four Doak gas engines with a total of 196 horsepower, using distillate as fuel. The depth of the ground ranges from 20 to 30 feet, and contains a considerable number of boulders. The dredge has been shut down after operating but a short time, and it is reported

7. February 1, 1913 The Pioche Record Pioche, NV
Article from The Pioche Record, February 1, 1913

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RIGID WHITE SLAVE LAW IS PROPOSED Special to the Record. CARSON, Jan. 30.-The Heffernan resolutions calling for an investigation of why Judge Langan of the Carsct' district court refuses to fix stated salary for the receiver of the State Bank & Trust company, and why he has allowed him $10,000 a year, is still in committee. Strong efforts are being made to sidetrack the resolution, but Senator Heffernan 1s determined that every step taken shall be in the open or the pubis shall know the reason why.

8. February 1, 1913 The Eureka Sentinel Eureka, Tonopah, NV
Article from The Eureka Sentinel, February 1, 1913

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ranged as to permit its being operated by the workmen. Penalty for falure to observe the law is fixed at a fine of from $100 to $500. Divorce and Bank Measures The Carson correspondent of the Goldfield Tribune says: The first scrap on the divorce law took place in the Assembly Monday morning when Schoer of Elko gave notice of a bill amending the present law. Immediately thereafter Barnes of Nye introduoed a bill amending the present law. Barnes' bill was allowed to go before the Assembly after a discussion on precedence. Gardiner of Washoe moved to postpone consideration of Barnes' bill indefinitely. This was voted down, how. ever, by 31 to 21, the first show of hands. Gardiner then moved to have the enacting clause stricken out, but after some discussion he withdrew his motion. Barnes' bill proposes to change the period required to establish residence from six months to one year. Otherwise it does not alter the present law. It was referred to the committee on judiciary, where Washoe's delegation will resume the effort to kill it. The Heffernan resolution calling for an investigation of why Judge Langan of the Carson district court refuses to fix a stated salary for the receiver of the State Bank & Trust Company, and why he has allowed him $10,000 a year is still in committee. Strong efforts are being made to sidetrack the resolution, but Senator Heffernan is determined that every step taken shall be in the open or the public shall know the reason why. A sign that the Heffernan document is something of a bombshell is the way the State Bank & Trust Company crowd are sourrying around. Frank Wildes' friends and beneficiaries are doing what they can to save the receiver's head. Talk of the recall has startled every one. Proposed Primary Election Changes Some of the proposed amendments to the Primary election law provide that in order to out down the cost materially it is proposed to take the registration out of the hands of the Justices of the Peace of the various townships and put it in the hands of County Clerks. Another provision will be to eliminate independent Republican and independent Democratic candidates, providing that a candidate, who does not enter the contest at the Primary election must run simply as an "independent" and pay into the County Clerk the same fees paid by those who participate in the Primary election. A provision will also be made for the early selection of county central committees. One of the worst features of the present law is the fact that men of one party can vote the ticket of another party in order to secure weak candidates on the opposition ticket. To remedy this it is proposed to have every voter register his politics and then. when he presents himself to vote at the primaries, the judges of election will hand him the ticket of the party to which he belongs without his annonncing his politics. Measures By Eureka Members On Thursday in the Assembly Fitz gerald of Eureka County gave notice of a bill to provide for payment for the destruction of noxious animals. Assemblyman Reynolds introduced a bill affecting bonds of County Commissioners.

9. May 22, 1913 Tonopah Daily Bonanza Tonopah, NV
Article from Tonopah Daily Bonanza, May 22, 1913

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NO WONDER. Carson people will probably remember that when the State Bank & Trust company closed its doors that the bank made an effort to get on its feet again and made a propotition to the creditors to reopen, provided the creditors would sign an agreement and to accept a certain amount monthly until they had received all that was due. More than 95 per cent of the creditors looked favorably upon the proposition and the rest were getting in line when suddenly Judge Mack appeared upon the scene and manifested a great interest in the affairs of the bank. He jumped dramatically into the ring, announced that he was going to see that the dear creditors got their rights and began to vociferate for a receiver. Nothing else would do Mr. Mack but a receiver "to protect the sacred rights" of the beloved creditors, and Judge Langan appointed a receiver. Well, Mack managed to mix things up so that nothing must do but have a receiver. No wonder Judge Mack wanted a receiver. His bill for $30,000 for giving the receiver legal advice bear striking and irrefutable testimony to the fact.-Carson Ap. peal.

10. August 25, 1913 Carson City Daily Appeal Carson City, NV
Article from Carson City Daily Appeal, August 25, 1913

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NOTICE OF MOTION IN THE DISTRICT COURT OF THE FIRST JUDICIAL DISTRICT OF THE STATE OF NEVADA, IN AND FOR ORMSBY COUNTY State of Nevada, ex rel John Sparks, et al., Plaintiff. vs. State Bank & Trust Company, a Corporation, et al., Defendants. Frank L. Wildes, the receiver of the State Bank & Trust Company, a corporation, having filed in this court and cause monthly reports of his administration as such receiver, of the affairs of the above-named defendant, to and including the 31st day of July, 1913, It is ordered that Saturday, the 30th day of August, 1913, at 10 o'clock a. m. of said day, at the Court House in the city of Carson, County of Ormsby, State of Nevada, be and the same is hereby fixed as the time and place for the hearing of said reports and taking evidence on the settlement and confirmation of the same, when and where any and all persons interested in said receivership estate, may and are hereby cited and commanded to appear and show cause, if any they have, why the said reports and each of them should not be settled, approved and confirmed. It is further ordered that a copy of this notice be published in the Carson City Daily Appeal, a daily newspaper printed and published at the city of Carson, County of Ormsby, State of Nevada, for twenty days consecutively next preceding the date fixed for said hearing. Dated this 7th day of August A. D. 1913 FRANK P. LANGAN, District Judge.

11. October 11, 1913 Carson City Daily Appeal Carson City, NV
Article from Carson City Daily Appeal, October 11, 1913

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NOTICE OF MOTION IN THE DISTRICT COURT OF THE FIRST JUDICIAL DISTRICT OF THE STATE OF NEVADA, IN AND FOR ORMSBY COUNTY STATE OF NEVADA, EX REL JOHN SPARKS, ET AL., Plaintiff. vs. STATE BANK & TRUST COMPANY, a Corporation, et al., Defendants. FRANK L. WILDES, the Receiver of the State Bank & Trust Company, a corporation, heretofore appointed in the above-entitled action, having filed in this court and cause monthly reports of his administration as such Receiver, of the affairs of the above-named defendant, to and including the 31st day of July, 1913. It is ordered that THURSDAY the 30th day of October, 1913, at ten o'clock a. m. of said day, at the Court House, in the City of Carson, County of Ormsby, State of Nevada, be and the same is hereby fixed as the time and place for hearing of said reports and taking evidence upon the settlemént and confirmation of the same, when and where any and all persons interested in said Receivership estate, may and are hereby cited and commanded to appear and show cause, if any they have, why the said reports and each of them should not be settled, approved and confirmed. At the same time and place an application of such Receiver for the fixing of the allowance of his compensation, as such Receiver, from July 31, 1912, to January 1, 1914, together with evidence thereon, will be heard and determined. It is further ordered that a copy of this notice be published in the Carson City Daily Appeal, a daily newspaper, printed and publi at the City of Carson, County of Ormsby, State of Nevada, for 21 days consecutively, next preceeding the date fixed for such hearing. Dated this 2d day of October, 1913. FRANK P. LANGAN, District Judge.