Article Text
(Special to the Bonanza) CARSON CITY, Nev., Jan. 29. Judge, Langan decided the State Bank and Trust company case today in favor of the depositors and al lowed Receiver Wildes' fees allowed
14538. State Bank & Trust Company (Carson City, NV)
Bank Information
- Episode Type
- Suspension → Closure
- Bank Type
- trust company
- Start Date
- January 1, 1909*
- Location
- Carson City, Nevada (39.164, -119.767)
Metadata
- Model
- gpt-5-mini
- Short Digest
e96f5b90
Response Measures
None
Description
The articles consistently describe the State Bank & Trust Company as a defunct institution that failed (noted as failing in 1909) and has been in receivership for years. There is no description of a depositor run in these pieces. The episode is therefore a suspension/closure with prolonged receivership and asset sales. Dates of the original failure are given as 1909 in the text; subsequent receivership actions and sales occur 1919–1924.
Events (8)
1.
January 1, 1909*
Suspension
- Cause
- Bank Specific Adverse Info
- Cause Details
- Bank failed/insolvent in 1909; depositors lost savings according to articles
- Newspaper Excerpt
- who lost their savings through the failure of the State Bank and Trust company
- Source
- newspapers
2.
January 29, 1919
Receivership
- Newspaper Excerpt
- Judge Langan decided the State Bank and Trust company case today in favor of the depositors and allowed Receiver Wildes' fees allowed
- Source
- newspapers
3.
March 9, 1919
Other
- Newspaper Excerpt
- who lost their savings through the failure of the State Bank and Trust company of that city. ... matters touching and affecting the fixing and allowance of attorneys fees and compensation for the receiver in the action.
- Source
- newspapers
4.
January 3, 1920
Other
- Newspaper Excerpt
- attorneys for Frank M. Wildes as receiver of the State Bank and Trust company are allowed a fee of $28,500 for their services in connection with the affairs of the defunct institution.
- Source
- newspapers
5.
April 20, 1922
Other
- Newspaper Excerpt
- confirmation will be opposed primarily, on the ground that the whole proceeding was 'burlesque,' ... sales of property belonging to the defunct State Banking and Trust Company, will probably be opposed
- Source
- newspapers
6.
May 25, 1922
Other
- Newspaper Excerpt
- Judge F. P. Langan ordered ... that the receiver attempt to negotiate private sales for the assets of the receivership
- Source
- newspapers
7.
May 4, 1923
Receivership
- Newspaper Excerpt
- The resignation of Frank L. Wildes as receiver of the State Bank & Trust Company ... Judge Ballard immediately appointed Gilbert Ross, state bank examiner, to be receiver of the defunct bank.
- Source
- newspapers
8.
April 11, 1924
Other
- Newspaper Excerpt
- A fourth dividend ... came closer for depositors of the State Bank & Trust company ... Receiver Gilbert Ross began to figure on the available funds for the final dividend.
- Source
- newspapers
Newspaper Articles (10)
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Article Text
Judge McFadden to Decide Noted Case Judge McFadden will be called to sit in judgment in one of the final appearances in court of one of the oldest cases and one that will be remembered for a life time by many citizens of Carson City, who lost their savings through the failure of the State Bank and Trust company of that city. The information was received by Judge McFadden in a letter received Friday from Governor Boyle stating that Attorney General Fowler and Attorneys Mack and Green, appearing for the receiver in the case of the State of Nevada vs. the State Bank & Trust company of Carson, have entered into a stipulation assented to by District Judge F. P. Lanyon in which it is agreed to have Governor Boyle call a district judge to hear and determine any and all matters touching and affecting the Axing and allowance of attorneys fees and compensation for the receiver in the action. The governor wrote that he had learned that Judge Taber of Elko had declared himself disqualified through reason of a former partnership and requested Judge McFadden to act, writing "I have therefore named and called you in the place of and stead of Judge Taber. I sincerely hope that you will not find yourself disqualified in any way and I am sure that you will do a distinctive service by disposing of this matter."
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Judge McFadden to Hear Bank Case Judge C. J. McFadden expects to leave this morning for Carson City, where he has been called by Governor Boyle to occupy the judge's bench in the receivership case of the State Bank and Trust company.
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FEE OF ATTORNEYS IN STATE BANK CASE $28,500 In a decision filed in the Carson City district court by District Judge McFadden the attorneys for Frank M. Wildes as receiver of the State Bank and Trust company are allowed a fee of $28,500 for their services in connection with the affairs of the defunct institution. The attorneys for the receiver are Mack and Green and A. A. Heer. The case was heard before District Judge McFadden under an agreement between the receiver's attorneys and Attorney General Fow. ler. Judge Langan, before whom the case originally was heard. had allowed a fee of $30,000 to the attorneys for the receiver.
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Judge's Removal Demanded. Carson City, Nev.-The removal of District Judge Frank P. Langan from office by the legislature of Nevada was recommended in a report filed in the senate by the joint committee that has investigated the district court proceedings in the State Bank & Trust company receivership's case, which has been pending almost thirteen years.
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Will Carson Papers Let Deceased Know For the edification of the deceased depositors of the defunct State Bank & Trust company, will the Carson papers kindly furnish enlightenment regarding the compensation that has been allowed the receiver, Frank L. Wildes, by Judge Frank P. Langan. Here is the item that appeared in one of the Carson papers. "In district court yesterday forenoon reports of Receiver Frank L. Wildes of the State Bank & Trust company covering the period beginning September 7, 1922, and ending January 1, 1922, and for the period from the first of the year until April 1, were heard and approved except as to items relating to compensation. Attorneys who participated in the proceedings were George Green for the receiver, Deputy Attorney General Robert Richards and Alfred Chartz, the latter appearing for certain depositors of the defunct bank."
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# SALE CONFIRMATION WILL # BE VIGOROUSLY OPPOSED The Carson News says that the recent sales of property belonging to the defunct State Banking and Trust Company, will probably be opposed by the state's attorney general and states: "The attitude of the attorney general's office toward confirmation of the sale of the State Banking & Trust Company assets made Monday by Receiver Frank L. Wildes under order from Judge Frank P. Langan was forecast yesterday by deputy Robert Richards, who stated: "Confirmation will be opposed primarily, on the ground that the whole proceeding was 'burlesque,' and secondly, on the theory that one of the essential elements of the notice of sale, 'place where,' was lacking. The general public could have no definit knowledge of the place of the sale through reading the published notice.' "Richards said that he will insist that the receiver's report of the sale, which he invariably called "the burlesque," be made part of the records of the court, after which confirmation will be opposed. "Judge Langan's order directing the sale provided that the receiver conduct the same and that it be held at the State Bank & Trust Company building in Carson City. The printed notice, however, gave no place other than the information that sealed bids could be received by the county clerk. "One of the gentlemen who attended the sale on that day confided to a representative of the News that he doubted very much if sales would be confirmed, at the same time calling attention to what he claimed was omission of an essential part of the notice. He declared had the notice been perfect, according to his views, bidding on some assets offered for sale would have been higher."
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RECEIVER WILDES TO TRY PRIVATE BANK SALE Upon stipulation of Deputy Attorney General Robert Richards and Attorney George Green, representing Receiver F. L. Wildes of the State Bank & Trust Company, Judge F. P. Langan ordered at a session of the district court that the receiver attempt to negotiate private sales for the assets of the receivership. Sales made at public auction several weeks ago were not confirmed by Judge Langan and he gave notice that he would issue an order for a public sale, until the attorneys agreed that better results could be accomplished by Receiver Wildes at private sales. The court, Receiver Wildes and the attorneys expressed a desire to end the receivership as soon as possible, but all stated their belief that the property of the defunct bank should not be sacrificed.-Carson City Appeal.
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WILDES OUT OF STATE BANK CASE The resignation of Frank L. Wildes as receiver of the State Bank & Trust Company, demanded several weeks ago by District Judge G. A. Ballard, was filed with that judge at Carson City this afternoon and accepted without comment, says the Gazette. Judge Ballard immediately appointed Gilbert Ross, state bank examiner, to be receiver of the defunct bank. The bonds of Ross were fixed at $5000. This bond, it is understood, will be in addition to his bond as bank examiner. With his resignation, Wildes filed his financial account for the month of March, which contained nothing other than the usual, statements of receipts and disbursements. George Green of the law firm of Mack & Green, attorneys for the receiver, was on the stand during the day. He read a statement of the work performed by his firm since April 1, 1915, to date, for which, he said, they had received no compensation. Between the time of the failure of the bank in 1909, and April 1, 1915, however, they received approximately $28,000 for legal services. This sum was allowed by Judge C. J. McFadden of Ely, sitting here at the time. The resignation of Wildes becomes effective today, and Ross will take over the affairs of the defunct institution tomorrow, or as soon as his bond is approved.
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BANK MAY PAY 4TH DIVIDEND A fourth dividend of a little less than four per cent came closer for depositors of the State Bank & Trust company Saturday when the time for claiming unpaid dividends of the first three dividends ended and Receiver Bilbert Ross began to figure on the available funds for the final dividend. There were no objections in the district court to the procedure proposed in using unpaid claims amounting to about $16,563 from the first three dividends in paying a fourth and with this sum there will be about $33,500 available for the next, says the Carson Appeal. From the third dividend of ten per cent there remained unclaimed $12,586, from the second of five per cent there was $2276 and from the first of five per cent there was $1701.