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A. Yes, sir. Q. You are going to look for every. thing in the bank A. Yes sir, we will go through the bank and find everything that is there. That is all. A. B. Witcher was called, sworn and testified as follows: Mr. Henderson-Mr. Witcher, have you been a member of the State Banking Board A. have Q. When did you first take office as a member of the State Banking Board A. In April, 1909. Q. Have you served in that capacity until now A. Yes, sir. Q. Are you filling any office on the Board now A. I have recently been appointed State Bank Examiner. Q You are State Bank Examiner now, are you not A. Yes, sir. Q. You arrived in Eureka yesterday A. Yes, sir. Q. Since coming to Eureka have you been consul regarding the selling of this stock of the First National Bank of Elko, held by the Eureka County Bank A. I have, yes, sir. Q. Were the matters gone into fully A. Yes sir, the matters were gone into fully; I knew of them-of the circumstances before coming here. Q Do you consider the sale at this time, of this stock to Mr. Gedney at $60 per share a fair and reasonable offer. A. Yes sir, I do, for more reasons than one. My particular reason is, I know that assessment has been ordered against that stock; to the best of my knowledge that assessment is $40 per share; that would then make this stock worth $60 per share. Q. You think, then, that $60 per share would be a fair price A. I do. Q. You think, if the Receiver is allowed to make this sale he is getting a fair amount for the stock A. do. Q. You feel in selling this stock the interests of the depositors are being pro tected. and it is to their interest to sell it A. I do. The Court-Are you still a member of the State Banking Board A. I think I am; to the best of my knowledge I am; but there might be a question of law there as to whether I was not holding two positions under the State. The Court-You recommend as State Bank Examiner the sale of the stock at $60 per share A. do. That is all. F. S. Gedney was called, sworn and testified as follows: Mr. Henderson-Youare the President of the First National Bank, Elko A. am. Q. Did you receive a notice from the Comptroller of the Currency that an assessment had been levied upon the stock of the First National Bank of Elko A. The Comptroller does not levy the assessment. We received a letter from him directing us to assess this stock; then we levy the assessment. Q. What will be the amount of that assessment. A. I am almost certain that it will be $40 per share, from my information from what Mr. Mallet told me. The Bank Examiner had seen him the day I was over in Eureka; that was the 23d day of March, and from what he told Mr. Mallet I should judge it would be $40 per share. Q. At this time your firm belief is that the assessment will be $40 per share. A. Yes, sir. Q. Did you agree with Spencer Reynolds, the Receiver, in the presence of Mr. Witcher, that should the assess. ment not amount to $40, you would pay the Receiver the difference. A. I have. I understand that it is the agreement that Iam to pay you the difference between $60 and the amount of the assessment. Mr. Henderson-Well, I am to pay it to the Receiver for the depositors. The Court In other words, you agree that you will pay for this stock $60, and should the assessment you have spoken of be less than $40, you will pay the difference to the Eureka County Bank. A. That is exactly the agreement; I pay the par value of the stock less the assessment. Mr. Henderson. Are you willing at this time to turn over to the Receiver $27,300 for this stock. A. I am. Q. Are you willing, in taking this stock, to release the attachments against the bank. A. Provided there is no more stock in the Eureka County belonging to the
