State Bank & Trust company

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: March 30, 1911
Location: Goldfield, Nevada (37.709, -117.236)

Metadata

Model: gpt-5-mini
Short Digest: 856d8fc9

Response Measures

None

Description

Articles indicate the State Bank & Trust Company in Goldfield was wound up and placed in the hands of a receiver (receiver referenced in 1911 article). Later articles (1912) show litigation against the receiver. There is no explicit contemporaneous description of a depositor run in these clippings; the cause of the bank's failure is tied in an editorial to stock-faking/promoters (bank-specific adverse information / fraud), so I classify this as a suspension leading to permanent closure with a receiver appointed.

Events (3)

1. March 30, 1911 Receivership

Newspaper Excerpt: The affairs of the Wonder Bank & Trust company have been wound up and the receiver is entitled to the belt for his consideration. ... This beats the star effort of the receiver of the State Bank & Trust company, who sold for $4000 property that was paying rental of $200 R month. Wait until Bank Examiner Howell begins to let in daylight through some of these operations.- Goldfield Tribune.
Source: newspapers

2. April 25, 1911 Other

Newspaper Excerpt: ...he wrecked, in Goldfield, the Sullivan Trust company and the State Bank & Trust company, and precipitated a panic from which the city and the district never recovered. (editorial attributing bank's wrecking to stock fakir George Graham Rice)
Source: newspapers

3. January 16, 1912 Other

Newspaper Excerpt: A complaint is on file in the office of the county clerk in which O. F. Matkin is plaintiff and T. L. Wildes, receiver of the State Bank & Trust company, is defendant. ... Plaintiff demands the sum of $1500, together with interest and costs.
Source: newspapers

Newspaper Articles (4)

1. March 30, 1911 Daily Independent Elko, NV

Article from Daily Independent, March 30, 1911

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Article Text

Mr. C. C. Truett returned from Los Angeles last night. He came by the Western Pacific from Salt Lake. The Bruce family residence is being remodeled throughout. When complete, Harry and family and Misses Violet and Pearl will have cosy homes. New York- twenty-seven million dollar capitol caught fire Tuesday night and damage estimated at ten millions dollars was done by fire and water. Defective electric wiring is supposed to have been the cause of the fire. The mining and smelting companies of Ely paid out last week to the laborers more than $250,000. Fifteen hundred men received checks from the Steptoe Smelting company at Steptoe and the Nevada Consolidated company paid off 400 more men. Beside the pay rolls of there two big companies there was included in the payday, the Boston Ely company and a number of smaller companies. The incorporation question is now up to Judge Taber. When he renders his decision, no time should be lost in patting the necessary machinery ín operation for severing the town The incorporation agitation has resulted in an almost unanimous demand for a sewer system. Let us have it before next winter. The affairs of the Wonder Bank & Trust company have been woun d up and the receiver is entitled to the belt for his consideration. He received $200 for his service during the last two years This beats the star effort of the receiver of the State Bank & Trust company , who sold for $4000 property that was paying rental of $200 R month. Wait until Bank Examiner Howell begins to let in daylight through some of these operations.- Goldfield Tribune.

2. April 25, 1911 Tonopah Daily Bonanza Tonopah, NV

Article from Tonopah Daily Bonanza, April 25, 1911

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Article Text

MORE ABOUT STOCK FAKIRS. The following editorial, taken from the Goldfield Tribune of Monday, hits the nail on the head, and is worthy of reproduction: "If a bank were organized in your community and invited your deposits and those of your neighbors, and you learned that the banker had been twice convicted and had served two prison sentences for appropriating to his own use funds that were not his own, would these facts disturb your confidence in the institution under his control? "If this same man should become a promoter and advise you as to your investments. would you in matters where this man's personal interests were concerned, be disturbed in your confidence by your knowledge of his past record? "If. in his efforts as a promoter, he should secure large investments which were promptly lost to the investors, and should then establish a newspaper for further purposes of promotion; and should place an editor in charge of that newspaper; and that editor, through his professional efforts should promote schemes of finance leading to large investments and heavy losses to investors, would you consider him still a safe editorial adviser as to further investments? "If the news columns of his newspaper were recklessly used to promote scaly enterprises which led to these losses. would you consider his news columns reliable? "The most notorious mining stock fakir who ever cursed the west was George Graham Rice, twice convicted and twice imprisoned under another name as a swindler-once for forg ery and once for embezzlement. Following a career of speculative riot, he wrecked. in Goldfield, the Sullivan Trust company and the State Bank & Trust company, and precipitated a panic from which the city and the district never recovered. His previous criminal record and his record as a race track tipster were published to the world. Following all this, he went to Reno and established a newspaper as an auxiliary to his further schemes as a mining stock fakir. Merrill A. Teague, identified with these mine promotions at Rawhide as publicity agent, became the editor of Rice's newspaper in the city of Reno. When Rice moved his offices to New York, Teague continued the association in publicity work there. He became the editor of Rice's New York newspaper known as the Mining Financial News, which was denied the newspaper privileges of the mails. The business which this newspaper promoted was finally raided by officers of the government's department of justice, and the newspaper promptly suspended. Shortly before the raid Merrill A. Teague transferred his activities from the editorship of the Mining Financial News to that of the Copper. Curb and Mining Outlook. Is his record such and have his associations been such as to commend him or his newspaper work to the wisdom of the investing public?"

3. January 16, 1912 Tonopah Daily Bonanza Tonopah, NV

Article from Tonopah Daily Bonanza, January 16, 1912

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Article Text

SUIT IS STARTED OVER BIG FOUR MINING STOCK GOLDFIELD MAN DEMANDS RES-TITUTION OF BIG FOUR STOCK HE SAYS HE LOST. GOLDFIELD, Jan. 16.-A complaint is on file in the office of the county clerk in which O. F. Matkin is plaintiff and T. L. Wildes, receiver of the State Bank & Trust company, is defendant. The complaint states that the plaintiff in 1906 was the owner of one certificate for 145,000 shares of Manhattan Big Four Mining company stock and subsequently obtained another certificate for 3700 shares. It is alleged that the defendant took away, disposed of and conr verted to his own use the latter certificate which is said to have been worth $1500 at the time "of said conversion. Plaintiff demands the sum of $1500, together with interest and costs.

4. January 26, 1912 The Record-Courier Gardnerville, NV

Article from The Record-Courier, January 26, 1912

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Article Text

# FILE COMPLAINT # AGAINST WILDES A complaint is on file in the office of the county clerk in which O. F. Matkin is a plaintiff and F. L. Wildes, receiver of the State Bank & Trust company, is defendant. The complaint states that the plaintiff in 1906 was the owner of one certificate for 145,000 shares of Manhattan Big Four Mining company stock and subsequently obtained another certificate for 3,7000 shares. It is alleged that the defendant took away, disposed of and converted to his own use the latter certificate which is said to have been worth $1,500 at the time of said conversion. Plaintiff demands the sum of $1,500 together with interest costs. Goldfield Tribune.