14568. Nye & Ormsby County Bank (Goldfield, NV)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
state
Start Date
November 15, 1907
Location
Goldfield, Nevada (37.709, -117.236)

Metadata

Model
gpt-5-mini
Short Digest
96bc37b9

Response Measures

None

Description

The bank suspended for six weeks and then reopened in early January 1908 (articles dated Jan 2 and Jan 4, 1908). No explicit bank run is described. Later items (June 1908) show the Goldfield branch moved operations/desk to the First National and wound up local affairs; a 1909 article concerns receivership litigation. The core episode in these articles is a suspension followed by reopening, so classified as suspension_reopening. Significant OCR errors corrected (e.g., 'm ey' -> 'money'; 'Nyo' -> 'Nye').

Events (4)

1. November 15, 1907 Suspension
Cause Details
Article only reports a suspension of six weeks; no explicit cause (no run, rumor, or government action described).
Newspaper Excerpt
The Nye & Ormsby County bank opened its doors for business ... after a suspension of six weeks.
Source
newspapers
2. January 2, 1908 Reopening
Newspaper Excerpt
This morning at 9 o'clock the Nye & Ormsby County bank ... resumed business once a.m. ... President Frank Golden ... stated ... in all the places business had been good.
Source
newspapers
3. June 13, 1908 Other
Newspaper Excerpt
The Nye & Ormsby County bank has practically closed its accounts in the Goldfield branch... The books, cash, papers and good will have been removed to the First National bank ... The Nye & Ormsby will continue to occupy desk room in the First National until its local business affairs are completely wound up.
Source
newspapers
4. November 16, 1909 Receivership
Newspaper Excerpt
directors in the receivership matter of the Nye & Ormsby County Bank ... the N. & O. bank appeared by the First National books to owe the First National $19,759.91 ... the closing of the N. & O. Bank on Feb. 23 was illegal ... proceedings under the citation ... receivership matter of the Nye & Ormsby County Bank.
Source
newspapers

Newspaper Articles (4)

Article from Carson City Daily Appeal, January 2, 1908

Click image to open full size in new tab

Article Text

This morning at 9 o'clock the Nye & Ormsby County bank in Carson City, Reno, Tonopah, Goldfield and Manhattan resumed business once a.m. The business in this city was about as usual before the suspension and it certainly loks good to see the bank open for business with a tray full of real m ey the kind with the eagle and "In God We Trust" on it. President Frank Golden of the banks spent today in this city and stated to a representative of the Appeal that he had received word from his other banks and that in all the places business had been good. "We


Article from The Goldfield News, January 4, 1908

Click image to open full size in new tab

Article Text

NYE & ORMSBY BANK OPENED THURSDAY MORNING The Nye & Ormsby County bank opened its doors for business promptly at 9 o'clock Thursday morning after a suspension of six weeks. Barry Hamilton is in charge of the local branch as cashier, Wm. T. Virgin having resigned. The bank did a good business on the opening day, paying out and taking in money as if it had never lost a day. The reorganization has strengthened the bank materially and when it opens its branch under a national charter as the First National Bank of Goldfield, it will be one of the strongest institutions of the state.


Article from The Goldfield News, June 13, 1908

Click image to open full size in new tab

Article Text

NYE & ORMSBY MOVES TO FIRST NATIONAL The Nyo & Ormsby County bank has practically closed its accounts in the Goldfield branch. The stone building on upper Main street presents barred doors and curtained windows. The books, cash, papers and good will have been removed to the First National bank-an institution which, by the way, issued its first currency, backed by the United States government, this week. No more accounts are being received by the Nye & Ormsby and what deposits remain are withdrawable upon request of their owners. Despite the panic, when securities were slaughtered right and left, the Nye & Ormsby carried all its depositors through intact and never slaughtered a collateral. The removal to the First National is for desk room and is no sort of absorption or merger, as the National is not responsible for any liabilities of the N. & O. In fact, that bank is said to have no liabilities that it is not in position to meet. The Nye & Ormsby will continue to occupy desk room in the First National until its local business affairs are completely wound up.


Article from Carson City Daily Appeal, November 16, 1909

Click image to open full size in new tab

Article Text

BEING PROBED I Judge Frank P. Langan Presides, Attorneys Wrangle, Spectators Look on and Listen, the Official Reporter Takes Down The Testimony and Still the Battle Wages Proceedings under the citation isAsked to detail these entries, HoffV sued to the First National Bank diman said that one was of -4621.57 and rectors in the receivership matter of o the other for $1086.22 a total of $5.707.79. the Nye & Ormsby County Bank, starta ed with Hoffman, of the First NationBoyd asked where were the credits S al. flanked with a pile of books and to balance these, and Hoffman stated f records on the stand. they are on the books of the banks c He detailed the items of the three at Tonopah and Goldfieid. t Boyd: Why are they not here? credits made on the 26th of February O Ans: Because that account carried 1909. on the First National books, ree dueing the Nye & Ormsby indebtedthe business of the N. & O, bank with in the First National Bank. ness to practically nothing. Attorney o Hoffman further testified that these Boyd. for the receiver. proceeded to ti attempt to unravel other entries in entries were made because the Goldan effort to show the exact amount en account was closed out on June 30, M 1908. but went on to say that the balof interest the N. & O. Bank owns in g ance in the account was $5707.79 on he First National of Carson City o February 26. 1909. Hoffman was asked about the state ei Boyd: Who wrote "B.K." over this of the books on Feb 23. 1909. when a item in red ink? the N. & O. bank appeared by the fa Hoffman: did. First National books to owe the First ra Q. What account preceds this? National $19,759.91 On Feb. 26 this to Ans: The item of $5707.79 amount was wiped out by the three ra Q: What follows this B. K. notacredits mentioned On March 6th the C tion? N. & O. bank again owed the First a National an item of $2822.37 Ans: A deposit of $5,000. and a top tal of $10,707.79 both deposits. The Boyd tried for an hour to get out tu next item is a check for $10,000 of Hoffman the items of this amoun ra leaving a balance of $707.79 but Hoffman testified that the checks Q: Who told you to make these that made it up are in the possessge entries? ion of the receiver of the N. & O. th Ans: No one. Bank. which Hoffman denied la Q. How do you explain this notaAttorney Boyd then called attention fu tion of B. K.? to the Frank Golden account on the of Ans: It represents bank stock. C N. & O. books. The court asked. for Q. This item of $5707.79 represents the purpos a what? an ney Chartz. who had not made a sinAns: Bank stock of the First NaM de objection during the inquiry, ex tional bank. 111 1⑆: ask the witness to go slower Q: Does this account show the vost ev payment by th e.N. & O. bank for the and told the court that up to this stock fu time he had made no objections. 28 Ans: Yes, it is carried in the Goldtie owspapers had made it appear en personal account ha Q. What notes are represented in ci which he had no intention of doi his account of which you spoke? no ,Boyd asked for the details of the Ans: Hofer detailed them yestertrasactions of the 24th of February, day. after Hoffman stated that he believed Q: Who instructed you to reconthe closing of the N. & O. Bank on ile this account? Feb. 23 was illegal. Hoffman had to The witness started to answer but M go to the bank and get his individual 'hartz interrupted and cautioned him ledger and with this book he detailed O go slowly as the answer was imthe transactions of that date. none of portant. Hoffman answered: No. one which included any N. & O. business. ! talked to Goiden about it and he It was at this juncture that the said that Marshall had done the accourt asked the object of the inquiry. H counting and had handled this acBoyd stated that he would trace a ount in this way. but that he didn't cash deposit by the process of eiiminknow whether Marshall had done anyation which made up the amount of thing with the account or not. It the $2822.37 believed to be the counwas morely a continuation of the First ty money deposited on that date by National Bank business County Treasurer Patterson. Hoffpr At this point court took a recess. man asked Boyd if he wanted the lot Ra Chartz nor Golden were at all bothand buildings account: but Boyd dew ered apparently at the progress made clined to hear this and stated to the gi and Boyd expressed himself as satiscourt that by the process of eliminAJ fied and will show juggling of acation he would find this account. counts that will show the interest of Then be took a new tack. asked the N. & O. bank in the First Nationpr Hoffman how long he had worked for al by Hoffman alone. bu he First National, for the receiver of Boyd began at once on Hoffman's br the N. & O. bank and for the N. & of examination at the afternoon recess. O bank itself. Hoffman replied that the seeking by all the methods he could be was in the Goldfield branch for find to get Hoffman to detail where bu three years. in Receiver Halls employ the First National Bank charges the Th from June until about August and in ba N. & O. bank for the First National the First National since about the stock the latter is supposed to own, an middle of August but could not succeed. The items of qu Boyd What were you doing with the Frank Golden account were gone op Receiver Hall's books? over again and again and while Hoffhid Hoffman: Reconciling them. ca man was perfectly able to explain the Boyd: You made entries in the item of $5707.79 he could not find that books? of the $5000 deposit appearing in the Go Hoffman: Yes Golden account. ho Boyd: Who told you to make en It seemed from Hoffman's testimony qu tries in the books? that the Nye & Ormsby agreed to wi Hoffman My common reason. take stock in the First National Bank ha Boyd: Did Hall know of these en up to any amount remaining due the tries? mi Nye & Ormsby County Bank after the an Hoffman: Yes, dissolution of its business through be Boyd: Did you tell Hall of any enthe First National Bank. but Boyd is tries you made in Frank Golden's aceither could not or would not admit ount? fre this agreement or take any testimony be Hoffman: I explained it to Hall. in that direction, SO that if such an Boyd: Didn't Hall and Hofer catch agreement existed. it was not shown ou on putting these items in the Golden in the testimony ccount is Boyd was engeged in the task of gowo Hoffman: No. the entry had to be ing over the matter again when ata made because one bank gave a credit Chartz interrupted to say that he loy and the other did not debit. thought it was the twelfth time the wo Boyd: Under the head of Golden's very same things had been asked and ing ersonal account what entries did you the very same answers given, he gre make there. in the Nye & Ormsby would gamble it was the seventh. Boyd books? his retorted that if Chartz could always ua Hoffman: Two. on notes, a credit gamble as safe as that he would make an , nthis account had not been debited a lot of money. Chartz made no ren another. an ply to the sally. fu Chartz interposed an objection to Hoffman made the admission that tu he manner in which the witness wasi $ estifying: too fast to he understood (Continued on page four)