14591. Nye & Ormsby County Bank (Manhattan, NV)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
October 23, 1907
Location
Manhattan, Nevada (39.164, -119.767)

Metadata

Model
gpt-5-mini
Short Digest
517f2c09

Response Measures

Public signal of financial health, Full suspension, Books examined

Other: Multiple episodes: initial 1907 suspension with reopening in Jan 1908; later 1909 panic led to permanent suspension and receivership/liquidation.

Description

Multiple articles show an initial panic-related closure on 1907-10-23 (following the State Bank & Trust suspension), a reopening on 1908-01-02 after depositor agreements, and a later, more serious run in Feb 1909 (around Feb 23) that led branches to close and the bank into receivership (reports reference affairs as of Feb 28, 1909). Sequence: run → suspension → eventual permanent closure/receivership. Bank is a county/state institution (not National). Dates taken from newspaper items; receiver activity and court reports through 1909–1914 confirm permanent failure.

Events (6)
1. October 23, 1907 Run
Cause
Local Banks
Cause Details
Panic/rush on account of suspension of the State Bank and Trust Company in Carson City; depositors rushed Nye & Ormsby.
Measures
Closed doors (suspension of payments following panic).
Newspaper Excerpt
The announcement by the State Bank and Trust Company that it had suspended, caused a panic among the depositors, and a rush was made on the Nye & Ormsby county bank, with the result that the latter has closed its doors also.
Source
newspapers
2. October 23, 1907 Suspension
Cause
Local Banks
Cause Details
Suspension/closure caused by depositor panic triggered by another local bank's suspension (State Bank and Trust Company).
Newspaper Excerpt
The announcement by the State Bank and Trust Company that it had suspended... a rush was made on the Nye & Ormsby county bank, with the result that the latter has closed its doors also.
Source
newspapers
3. January 2, 1908 Reopening
Newspaper Excerpt
This morning at 9 o'clock the Nye & Ormsby County bank in Carson City, Reno, Tonopah, Goldfield and Manhattan resumed business once a.m.
Source
newspapers
4. February 23, 1909 Run
Cause
Rumor Or Misinformation
Cause Details
Wide circulation of rumors and unspecified reports of unsoundness led depositors to demand cash; news that branches had suspended increased panic.
Measures
Branches closed; at some locations doors remained open but no business done; checks on Nye & Ormsby were refused in Reno.
Newspaper Excerpt
Rumors thick and fast flew over the state and before noon the Nye & Ormsby County Banks in Tonopah, Manhattan and Reno had closed... Every other bank in Reno, Tonopah, Goldfield, Manhattan...withstood a run on its cash deposits.
Source
newspapers
5. February 23, 1909 Suspension
Cause
Rumor Or Misinformation
Cause Details
Suspension/closure following statewide rumors and runs on multiple branches.
Newspaper Excerpt
before noon the Nye & Ormsby County Banks in Tonopah, Manhattan and Reno had closed.
Source
newspapers
6. February 28, 1909 Receivership
Newspaper Excerpt
report ... contains the entire business at the time they were closed. of 28, 1909, and contains affairs ... the receiver in an amazing tangle ... incompetence and mismanagement ... large loans made upon individual notes without security ... $436,358.70 worth of loans ... pledged to secure payment ... First National Bank of San Francisco holds collateral ... Receiver Hall ... submits this his second supplemental report and account of his receivership of said The Nye & Ormsby County Bank ... Since the date of the appointment and qualification of said George S. Hall as such receiver ... (reports filed 1909).
Source
newspapers

Newspaper Articles (23)
1. October 24, 1907 Arizona Republican Phoenix, AZ
Article from Arizona Republican, October 24, 1907

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ANOTHER FALL. Carson City, Oct. 23.-The announcement by the State Bank and Trust Company that it had suspended, caused a panic among the depositors, and a rush was made on the Nye & Ormsby county bank, with the result that the latter has closed its doors also. The following notice was posted on the window of the state bank: "The State Bank and Trust Company announces its suspension. It is able to pay all depositors as soon as conditions become more settled and collections are made." All mining and other stock is intact and subject to delivery. A general convention of the bankers of the state is being held in Reno in the hope of adjusting affairs throughout the state. Some months ago the State Bank and Trust company WS a heavy loser when the Sullivan Trust company of Goldfield went to the wall. The bank took over its properties, and the market has forced the bank to call ,in all

2. November 22, 1907 Carson City Daily Appeal Carson City, NV
Article from Carson City Daily Appeal, November 22, 1907

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number of depositors of the pres- Nye A Ormsby County Bank were tnd the meeting of the depositors eat called at at the Court House last ening by Chartz Alfred who Chartz. had called the Mr. at the request of bank a number was meeting the depositors in the of unanimously of appointed chairman Jr. the meeting and James D. Finch. acted as Secretary. Chartz then adressed the of gath- the Mr. and explained the object it had ing and for what purpose the Dirmeeting called. He stated that pledgectorsand been stockholders had not of the fortunes to the support would institution their and stated that they they were dollar for dollar if of their pay compelled to use every cent done by wealth as had been Directors and private President. Board of Bank and Stockholders the of the State for these He said it was the duty Trust Company would to take an oath that they had enmen the depositors who to the protect their savings to them further trusted of every dollar. He stiteextent they had published liabilities no said that as to their assets or way of ment the people had no in and that the bank stood knowing how He said that it was financial way of the depositors to the apthe duty comittee to investigate ascertain point a of the bank and condistanding possible the exact financial he underif Mr. Chartz said that drawn tion. that $5000 had been doors stood the institution after the of last from been closed on the 23d of the had by D. M. Ryan. one given to directors month of the bank and This County was Treasurer deposited Patterson. by Ryan the county is on money bank and as Mr. Mr. in the of the county treasurer money the bond said he understood the to proChartz given to Mr. Ryan so the as county was as bondsman of that tect him Mr. Chartz declared and h treasure. action was strictly unfair belong0 this and that the money the direcdishonest people and not to bank ed to. and the stockholders of any the man. 0 the tors the bondsman of after S nor to James Sweeney arose after statt Mr. had finished and not been t chairman that the meeting had official h ing called by permission of any were un bank and that they they of the meeting until S S aware notice of the in the paper. He the said bank 1 the was the only airector of it his o he in this city he thought living to make a statement. n personal Ormsby duty "the Nye knowledge, said To my and for 11 Mr. Sweeney Bank is able to pay It dollar should g dollar County to its depositors. same category e not be banks placed that in have the failed or at sus- the with are short of coin finanpended. time We due to the entire general country. at cial present are condition in no way of the responsible merely for fell the a c present We condition but panic of the e the financial institun victim to with hundreds of counit tions East along in different parts of the er other in try. "I feel safe in saying better that securities no d the state has has the at bank in monies loaned than Our m for the and Ormsby County with Bank. the mark esecurities Nye today, even will more ut in the present condition, moneys loaned. r ets on the that al than realize people must not forget at "The must be protected depositor ke the borrower as much as the and p this time of nine are borrowers suffer any ot Seven they must out not the be depositor. made to Would more than to forclose on our mortgages simbe right homes and personal property want their 10 on because the depositors notice? Would er ply a minutes to the money on to drive people depositors w itbe simply right because a will few of the maj c ey object wall and to bow sign to the the agreement for which dollar ority for them dollar interest on the ip ey Id of will same their get at think deposits the "ate so and of and 3 1/2 for per that to cent? give reason We us the don't asked our depositors on out have desired time to realize

3. January 2, 1908 Carson City Daily Appeal Carson City, NV
Article from Carson City Daily Appeal, January 2, 1908

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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

4. September 29, 1908 Carson City Daily Appeal Carson City, NV
Article from Carson City Daily Appeal, September 29, 1908

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This morning the First National Bank of Carson City opened its doors to the public and Carson City now has a bank with the government support and guarantee. This bank will succeed the old Nye and Ormsby County Bank which was among the other banks of the state that was forced to close its doors at the time of the financial panic a year ago next month. The suspension was only temporary, however, and on the first of the present year the institution resumed a banking business with the support of a majority of the depositors who had signed an agreement to stand by the directors and president in their effort to resume business. This they did with the result that at the present time the institution has liquidated 95 per cent of their indebtedness and will be able to wipe the other 5 per cent off their books in a comparativly short time. Shortly after the panic the president of the Nye and Ormsby county Banks announced that the banks would be changed into National institutions with local boards of directors and president as soon as it was possible to do so and every bank in the chain would be made local institutions, individual from the others. The first to be changed was the Goldfield branch and the bank here which opened for business today is the second. The bank at Reno will protably be the next to fall in line. The Nye and Ormsby County Bank in this city will continue in existence until all creditors are reimbursed and when the business is finally wound up the old institution will go out ot existence. Both banks will do business in the one building the National

5. February 23, 1909 Carson City Daily Appeal Carson City, NV
Article from Carson City Daily Appeal, February 23, 1909

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TONOPAH, MANHATTAN GOLDFIELD AND RENO BRANCHES INVOLVED CARSON BANKS STILL OPEN AND BOTH DECLARE THEY ARE SAFE FROM RUNS WE'LL PAY DOLLAR FOR DOLLAR'. G. T. MILLS Every bank in Nevada in which Frank Golden is in control. with one exception, closed its doors today. Every other bank in Reno. Tonopah, Goldfield. Manhattan Bull frog and Carson City withstood a run on its cash deposits. Like a cyclone. depositors descended upon the banking institutions of the state and without rhyme or reason demanded their money. Rumors thick and fast flew over the state and before noon the Nye & Ormsby County Banks in Tonopah, Manhattan and Reno had closed. The First National of Goldfield. the reorganized Nye & Ormsby County Bank of that city it reported to have closed also. At Reno the bank doors were open but no business was done. neither deposits being taken nor checks cashed. Checks on the Nye & Ormsby were refused all over that city whenever offered. The other Reno banks were paying out all day, and while most of them received deposits throughout the day, every director and official was on the qui vive and mustering resources. In Goldfield, the John S. Cook bank withstood a terrific run after the report of its being robbed by counterfeit crecks of $12,000 got out and the condition of the Golden banks become known. In Tonopah the Nye & Ormsby branch and every other bank was busy. All remained open except the branch. and Golden himself passed through there early bound north and he is to arrive in Reno tonight. It is less than two years since the Frank Golden banks were compelled to suspend payment on account of the failure of the State Bank and Trust Company, and since that time Frank Golden has moved heaven and earth to reorganize his banks and secure them. Only one of those in which he is interested. the First National at Carson City stood up today. It is impossible to learn what has caused the general withdrawal or what has caused the embarrassment of the Frank Golden banks. Bank Examiner Hofer said this evening that he is unable to account for the run on the banks and that he does not understand what has happened to the closed banks. in the absence of any direct notices from any of them. In this city both the First National. a Golden Bank, and the Car son Valley Bank. a Kirman bank, withstood runs and announce that they will be able to withstand any runs made tomorrow. Both have received word of cash en route. to arrive in the morning and both are confident that they will not be campelled to close.

6. February 24, 1909 The Daily Missoulian Missoula, MT
Article from The Daily Missoulian, February 24, 1909

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SERIOUS RUN MADE ON BANK REPORTS OF UNSOUND CONDITION OF CARSON CITY INSTITUTION UNTRUE. Carson City, Nev., Feb. 23.-A serious run on the First Natnonal bank of this city was precipitated today by the circulation of a rumor that the institution was unsound. The money on hand, however, was sufficient to meet all demands up to closing time and the bank officials declare that all depositors wishing to withdraw their money will be accommodated without delay. The excitement was increased around closing time by the arrival of a message stating that the Tonopah, Goldfield and Reno branches of the Nye & Ormsby County bank had suspended. Taken in connection with the fact that the local branch of that bank was not open for business at any time today, the news caused a veritable panic among the depositors. The Carson Valley bank of this city received more money than it paid out today and its officers state that its deposits are intact. The cashier of the national bank issued a statement tonight to the effect that 65 per, cent of deposits were now on hand and more money would be received from Reno in the morning.

7. July 7, 1909 Carson City Daily Appeal Carson City, NV
Article from Carson City Daily Appeal, July 7, 1909

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COMMISSION GETS BUSY The county commissioners finished up a lot of business yesterday and not the least important was a demand upon the bondsmen of the county clerk and treasurer for the money deposited by the treasurer in the Nye and Ormsby County Bank. The clerk, who is ex-officio treasurer presented his quarterly settlement with the commissioners showing a bank book calling for a deposit of $19,477.61 in the Nye & Ormsby County Bank and the balance in cash. The commissioners calied in the bondsmen, Frank Golden, Henry Decker, Paris B. Ellis and James Rayeraft and made a demand upon them for the money on deposit. the bank being in progress of liquidation. The bondsmen notified the commis sioners that they could not produce the entire amount at once, but presented a plan of payment to the commissioners. They were given until July 20 to arrange for the payment of the money. The funds of the county on deposit are, according to the bank officials. secured, and the county will not lose anything, but the process of law in receivership precludes the possibility of getting an immediate settlement and the bondsmen will come through taking proper assignments and re ceipts for the money as fast as paid and will recover from the bank when the receiver pays off. All bids for road rollers. for cement and for work on the county building were rejected and the clerk was ordered to file new advertisements for bids. It seems that in advertising for road rollers the cali for bids was couched in such language as to preclude the possibility of competitive bidding on the part of some firms and there was also a large discrepancy in the bids. One firm of fered an Iroquois roller for $2950 and another offered it for $3150. One bid was as low as $2500 and another as high as $3200. The county advertises now for a ten ton rolier and every maker of rollers will have a chance to show what his machine can do in a demonstration to be held August 6 in this county. The county also wants linoleum with which to cover the floor of the justice court and wants new bids on the improvements to be made on the county building. The commissioners passed a resolution forbidding the assignment of claims against the county until said claims are acted upon by the county commissioners and become legal claims. The collapsible forms for cement culvert construction arrived yesterday and will be used hereafter in the construction of ali road and street culverts. The county clerk was authorized to furnish his office with a typewriter and a typewriter desk and he is in the market for the same. The clerk reported the issuance of 258 game licenses and the collection of $267 for the same. There is some talk about sewer connections and street work in Carson City but no official action. ,Bills were passed for road work and other county expenses, the reports showing the county to be in good financial condition and but one deiinquent tax payer in the whole county.

8. July 23, 1909 Carson City Daily Appeal Carson City, NV
Article from Carson City Daily Appeal, July 23, 1909

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Pursuant to an order of Judge Lan and Receiver Hall, of the Nye in his gan. County Banks brought today. Ormsby first report of the banks affairs affair. report is a voluminous the entire business at the time they were details banks The the exhibits closed. of 28, 1909, and contains affairs Feb. joans. deposits and other are of the bank to show just where the amof assets of the bank and ounts the due the banks creditors. the usual details of the pre- the After to the statements in which bank amble says that affairs of the the rereceiver in an "amazing tangle" of the are says that the "failure and port was due to incompetence of bank mismanagement. that the affairs have bank show that large loans notes, said made upon individual notes been any security and upon upon by real estate secured by mining secured without and property greatly notes stocks which have of in value, and affacts the settiement and depreciated these mining in of view the careful of the banks requires that fairs and nursing in order for handling best results may be obtained and the depositors and the creditors the the creditors must be patient. Receiver says he found in that the The of the banks $2930.49 and bring safes has collected sums that now this he balance up to $13,128.04. conclusion he says: "Your he has reIn deplores the fact that in given the not out the which straightening ceiver been tangled affairs assistance condiof the company's from tion he was entitled to and directors of he feels officers have the he bank has the that in some instances assistof and been hampered rather than greatest compiaint he makes and that The $436,358.70 worth of loans to othdiscounts is have been pledged secure the banks and persons to the er payment of $158,146.48 which stress. San bank borrowed in time of of The First National Bank to secure holds $320, .6.04 First NaFrancisco of $139,441.60. The a Bank of Goldfield holds Patrick, $11,792.69 L. L. nonal Joan secure National $9941.60 Bank to of the First to seholds all of of $6,000.00 president Goldfield loan $105,436.05 and payment are of care pressing a the receiver for thereon. fact these loans and interest the that by reason of banks He says greater part of the perthat are in the hands of and assets he cannot get at them bank sons the other that was time before the bank could for some the officers of the in this at them. He says of said not that the makers closed connection get on said have made payments of and bills to the & Ormsby county said books notes notes Nye officers bank which the been credited on the bank but were used of of said bank in its own counters have said not payments over busi- he SO He says these as ness." will amount, as far also used about $10,000. He says knows. that to payments made by debtors Mrs. Robinson. wife of Dr. Robin-

9. September 14, 1909 Carson City Daily Appeal Carson City, NV
Article from Carson City Daily Appeal, September 14, 1909

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court this morning and the last para graph contains a request that he be allowed to resign. was not surprised but forcible when opened court and found that for receiver were not even in court, but had mailed the report and asked another attorney 10 appear them and This duty upon torney L. Judge the language George unpleasant Langan present expressed Sanford, it. himself the fell he who only attorneys in pre- At- for sented the report. recited to the court his interest in the matter and asked for an order of ten days notice to depositors and others interested, of the allowance, confirmation and approval of the report. The court made the order and excused Sanford from any remarks the made in the matter. AtChartz appeared torney court had for bank. Golden The and the directors of the court directed Sanford to inform the receiver and his attorneys that the matter would be heard September 24. and to prepare the necessary notice theretor. The cierk of the court stated that not yet received from Boyd & attorneys he Salisbury, had for the the receiver the decree appointing receiver nor the order for payment of certain interest and the court direeted that these papers be returned at once. Court then took a recess until Sep tember 24. Golden was in court and stated that all he wanted was the removal of the receiver. and it was stated also that Hall had agreed to resign. His request as in the report was a sur prise. The court inumated that upon the presentation of a petition from the depositors, he will appoint ex-Gov ernor Jewett Adams as receiver. also that he had a petition from Goldfield for the appointment of an attorney of that city. The report in part follows. a lon list of claims and other matters be ing omitte.: TO THE HONORABLE THE FIRST JUDICIAL DISTRICT COURT OF THE STATE OF NEVADA IN AND FOR THE COUNTY OF ORMSBY: GEORGE S. HALL the receiver of The Nye & Ormsby County Bank. respectfully submits this his second supplemental report and account of his receivership of said The Nye & Ormsby County Bank as follows, towit: Since the date of the appointment and qualification of said George S. Hall as such receiver. there has come in to the hand of the receiver funds from all sources aggregating the total sum of Ei_hteen thousand Nine Hundred nd Sixty-two and 04-100 dollars ($18,962.04) a detailed statement of which said receipts. marked Exhibit "A" is hereto attached and made a part thereof; The total sum disbursed by the receiver herein, as is shown by the detailed statement of disbursements at tached to the receiver's first account filed herein, was the sum of Sixteen hundred and ninety-eight and 80-103 dollars (1,698.80). Since the date of the rendition of the said first account of your receiver. your receiver has disbursed additional amounts. including interest due on the notes of the Nye & Ormsby County Bank to the First National Bank of San Francisco, and including the amount of the premium on the receivership bond herein. paid to the National Surety of Company. aggregating the sum live thousand. seven hundred and nine and 30-100 ($5,709.30) aollars. a detailed statement of which said disbursements marked exhibit "B" is hereto attached. and made a part hereof. That there remains in the hands of your receiver a balance in cash thou- aggregating the sum of eleven sand. five hundred and fifty-three of and 94-100 ($11,553.94) dollars, ( 1 which said amount the sum- of seven thousand, seven hundred and dollars eightyseven and 31-100 ($7,987.31) First remains on deposit with the

10. September 25, 1909 Carson City Daily Appeal Carson City, NV
Article from Carson City Daily Appeal, September 25, 1909

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# NYE & ORMSBY BANK AFFAIRS (Continued from page one) did not want Hali to deduct the amount of Hofer's premium and a squabble started until the Court asked again for the check which Hall proceeded to hunt up. While Hall was searching for it the Court gave notice that the examination was proceeding too slowly and that unless it was finished this afternoon it would have to go over for several days. Chartz was on his feet in a moment. "We claim as much latitude as has been given the other fellows," he began. "We want to go into this matter thoroughly and insist on having a fair show." Judge Langan's face flushed and he rapped the attorney to order and said: "You have never been denied all the rights to which you are entitled in my court, Mr. Chartz, and will not be now. I desire to say to you that I have other business in this district; that I must go to Dayton and to Genoa to hold court and that this examination is taking more time than it should. Your rights will be fully protected Mr. Chartz, rest assured of that." Chartz bowed his thanks for the statement and the Court took a recess for the noon hour. After noon the examination was resumed and at the end the Court took a hand and after questioning Hall said: "Under the showing made I shall certainly not discharge the receiver until he has recovered all the money on deposit to his credit from any escrow agreements 'n any other bank. The court should like to know why money belonging to the receiver an officer of this court, is not available to the receiver and why it cannot be controlled by the "eceiver. Until he can give me a better account of his stewardship in this respect I shall certainly entertain no resignation." declaring they have publically stated the assets are worth little or nothing out the Court stated that he would strike this out if request is made. He told how he had educated Hall in the affairs of th ebank and made a statement as to the first report Hofer made as bank examiner on the condition of the bank On cross examination by Boyd Golden said that the First National Bank at San Francisco holds about $270,000 worth of collateral security for about $130,000 worth of loans, that the collateral security is good, and that it will more than pay off and then Boyd asked him if this is why he pledged his property to the First National Bank. On further cross examination Golden stated that he has never deeded any of his personal property to the Nye & Ormsby County Bank to secure his own indebtedness to the bank, that he does not regard his property pledged to the First National Bank of San Francisco as guaranteeing any of the loans of that bank to the Nye & Ormsby County Bank and that he has not deeded any of his personal property to help the bank out, but has deeded it to protect his individual loans from the First National Bank. In face of the statements frequently made that Golden impoverished himself to pay off the Nye & Ormsby County indebtedness the statement was received with surprise by the court. Golden stated that in addition to the collateral security held by the First National Bank, his personal property guarantees the payment to that bank of the Nye & Ormsby County indebtedness and that the property is deeded to Skinner, of the First National Bank and is not in his opinion liable to the debts of the Nye & Ormsby County Bank. Court adjourned with Golden still on the stand. The hearing on the objections to the receivers report will be continued at a later day. Attorney Boyd then gave notice he shall ask for citations to recover

11. December 21, 1909 Tonopah Daily Bonanza Tonopah, NV
Article from Tonopah Daily Bonanza, December 21, 1909

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# GOLDFIELD BANK # HAS BROUGHT SUIT # AGAINST NYE CO. SEEKS TO RECOVER ON PRO- TESTED NYE AND ORMSBY BANK NOTE Yesterday afternoon, E. F. Patrick, the Goldfield attorney, filed at the county clerk's office a suit to recover $7485.05, with interest, from Nye county. The suit is entitled the First National Bank of Goldfield versus County of Nye of the State of Nevada, and is brought on a certain promissory note executed on the 7th day of December, 1908, to the Nye and Ormsby County bank, with interest at the rate of 12 per cent' per annum, which amounts to $923.15. Patrick also asks for $1000 as attorney's fees. This is the beginning of another interesting chapter in the episodes surrounding the closing of the Nye and Ormsby County bank. Several months before the now defunct institution closed its doors, a number of attempts, were made to take up the note and more than once checks were presented. Each time came the information that the note was in Carson and would be immediately sent to this city. But after the bank had suspended, it was learned that the note had never been in Carson, but had been hypothecated to the First National bank of Goldfield by President Frank Golden of the Nye and Ormsby. The note was transferred by the Goldfield bank to the American National bank of San Francisco. The San Francisco bank presented the note to the county commissioners for collection at their meeting during the fore part of this month, but the board refused to make the payment on the grounds that there is over $60,000 now on deposit in the Nye and Ormsby bank. The trial will be an interesting one and some sensational facts regarding the Nye and Ormsby and First National of Goldfield will be brought to light.

12. December 25, 1909 Tonopah Bonanza Tonopah, Butler, NV
Article from Tonopah Bonanza, December 25, 1909

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# GOLDFIELD BANK # SUES NYE COUNTY Monday afternoon E. F. Patrick, the Goldfield attorney, filed at the county clerk's office a suit to recover $7485.05, with interest, from Nye county. The suit is entitled the First National Bank of Goldfield versus County of Nye of the State of Nevada, and is brought on a certain promissory note executed on the 7th day of December, 1908, to the Nye and Ormsby County bank, with interest at the rate of 12 per cent per annum, which amounts to $923.15. Patrick also asks for $1000 as attorney's fees. This is the beginning of another interesting chapter in the episodes surrounding the closing of the Nye and Ormsby County bank. Several months before the now defunct institution closed its doors, a number of attempts were made to take up the note and more than once checks were presented. Each time came the information that the note was in Carson and would be immediately sent to this city. But after the bank had suspended, it was learned that the note had never been in Carson, but had been hypothecated to the First National bank of Goldfield by President Frank Golden of the Nye and Ormsby. The note was transferred by the Goldfield bank to the American National bank of San Francisco. The San Francisco bank presented the note to the county commissioners for collection at their meeting during the fore part of this month, but the board refused to make the payment on the grounds that there is over $60,000 now on deposit in the Nye and Ormsby bank. The trial will be an interesting one and some sensational facts regarding the Nye and Ormsby and First National of Goldfield will be brought to light.

13. March 31, 1910 Tonopah Daily Bonanza Tonopah, NV
Article from Tonopah Daily Bonanza, March 31, 1910

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# SLOW WORK TO GET IN SHAPE SAYS THOS. LOCKHART NYE & ORMSBY BANK OUTLOOK IS GROWING BRIGHTER DAILY. T. G. Lockhart and E. S. Van Dyck returned yesterday from Carson City and Reno, where they have been on business connected with the settlement of the affairs of the defunct Nye & Ormsby county bank, of which Mr. Lockhart is receiver. Mr. Van Dyck says that they are gradually getting the tangled affairs straightened out, but it is slow work, considering the assets that were left after three of the principal creditors of the bank took their pick of the securities on hand at the time of the failure. There is still some chance, however, of realizing something on the present assets in the hands of the receiver, as several of the debtors of the bank who were practically bankrupt when the crash came are getting into good shape financially and will be able to pay off most of their indebtedness. The final settlement is nevertheless a slow process, but results are being attained.--Goldfield Tribune.

14. March 21, 1911 Carson City Daily Appeal Carson City, NV
Article from Carson City Daily Appeal, March 21, 1911

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SOME ITEMS REGARDING LOCAL BANKING AFFAIRS New Law May Create a Change in Positions have the destiny of the pending suits The law that lately passed the Legin his hands. It will also result in islature which names the State Bank the shaving down of an enormous Examiner as receiver for all defunct salary fund, which should be some banks, is causing considerable agitacompensation to the depositors. tion among the many who have inIn the case of the people against terests in both the State Bank and the Nye & Ormsby County Bank this the Nye & Ormsby. suit is hanging fire. The suit was Under the new lay the State Bank brought against the bondsmen of E. O. Patterson. Mr. Patterson as the Examiner, Gene Howell, will take OVer the business of receivership, thus County Treasurer, deposited some doing away with the present receivnineteen thousand dollars in the Nye ers of the two banks. Should this & Ormsby Bank. The funds were procedure prevail it will save a very supposed to be protected by a bond large amount of money for the designed by a number of bondsmen. There has never been a dollar colpositors. In the meantime the suit being lected and the money to date seems brought by Receiver Wildes in the as good as lost, while the county is District Court against the Directors being run without cash in sight. In order to force some settlement is being heard. The case comes up on this score a suit was entered askagain on the 27th of this month. As the new law provides that the law ing that the money deposited be becomes effective ten days after havmade a preferred account. This mating been approved it is not likely ter has been heard before Judge Lanthat Mr. Howell Howell can take the gan and a decision is expected by the first steps along the new lines. It is 27th of the present month. Should expected that when he makes applihe decide in favor of the County cation for the books of the two banks Treasurer there is a chance of taking and the keys to the vaults that he over what money there is in sight. will be turned down. The matter Should the decision be against the will then be threshed out in the Treasurer then suit must be started courts, probably going to the District immediately against the bondsmen. Court first and then to the Supreme The fact that this suit has hung Court for action. In the meantime fire since the failure of the bank has the case now on hand will continue. naturally caused a great deal of critiSome months ago investigation was cism. During all the time since this held by Judge Langan relative to the bank failed the county has been short salary that Receiver Wildes was to the amount of money deposited and receive. Expert witnesses were not a cent has been paid over. brought here to give testimony as to As the new 'law effects the Nye & the cash worth of a receiver of a deOrmsby Bank it is possible that Exfunct institution. Judge Langan has aminer Howell will be called upon to never handed down his decision in institute the suit or defend it as the this matter, and many interested decase may be. There are many people positors are wondering how much of in this city who are convinced that their money Mr. Wildes is being altime enough has elapsed between actions and that some course must be lowed by the Judge. The case of the attorneys is in like quandry. Judge mapped out. The late switching of Mack some time ago stated that his affairs by the newly framed law is bill was $20,000. How much the apt to result in a great deal of beneCourt will allow is in question. fit or throw the entire affair back to Should the Supreme Court decide its first stages. It will certaily keep Mr. Howell on the move to untie the that the new law is valid Eugene Howell, the Bank Examiner, will tangle.

15. March 21, 1911 Carson City Daily Appeal Carson City, NV
Article from Carson City Daily Appeal, March 21, 1911

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have the destiny of the pending suits in his hands. It will also result in the shaving down of an enormous salary fund, which should be some compensation to the depositors. In the case of the people against the Nye & Ormsby County Bank this suit is hanging fire. The suit was brought against the bondsmen of E. O. Patterson. Mr. Patterson as the County Treasurer, deposited some nineteen thousand dollars in the Nye & Ormsby Bank. The funds were supposed to be protected by a bond signed by a number of bondsmen. There has never been a dollar collected and the money to date seems as good as lost, while the county is being run without cash in sight. In order to force some settlement on this score a suit was entered asking that the money deposited be made a preferred account. This matter has been heard before Judge Langan and a decision is expected by the 27th of the present month. Should he decide in favor of the County Treasurer there is a chance of taking over what money there is in sight. Should the decision be against the Treasurer then suit must be started immediately against the bondsmen. The fact that this suit has hung fire since the failure of the bank has naturally caused a great deal of criticism. During all the time since this bank failed the county has been short the amount of money deposited and not a cent has been paid over. As the new 'law effects the Nye & Ormsby Bank it is possible that Examiner Howell will be called upon to institute the suit or defend it as the case may be. There are many people in this city who are convinced that time enough has elapsed between actions and that some course must be mapped out. The late switching of affairs by the newly framed law is apt to result in a great deal of benefit or throw the entire affair back to its first stages. It will certaily keep Mr. Howell on the move to untie the tangle.

16. September 11, 1911 Carson City Daily Appeal Carson City, NV
Article from Carson City Daily Appeal, September 11, 1911

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NYE & ORMSBY BANK MATTER IN COURT Application for Discharge as Receiver is in Hand of the Judge The hearing of the petition for dis- other expenses bring the amount to charge from the receivership of the approximately $23,000, while the colN. & O. Bank by T. J. Lockhart, lections are practically in the same came up before Judge Langan this figures, thus eating up the amounts morning and will occupy the best received, which were expected to go part of the day. Mr. Lockhart asks to the depositors. to be relieved from the further manAt the time of the failure in Ocagement of the bank on the grounds tober, 1907, the bank owed depositor$ and other creditors the sum of $1. of ill health and personal business interests which are occupying his at800,000. Upon re-opening, as the tention. bank did for several months, the sum It is stated that in order to make of $1,400,000 was paid out or distribfurther collections that law suits will uted through transfers and other be necessary. and this would occupy means, leaving at the present time too much of Mr. Lockhart's time in approximately $400.000 due depositthe different courts where the suits ors and banks with other creditors. are instituted. It is believed that this sum can yet Mr. Lockhart took the receivership be trimmed by selling some securities with the understanding that he was that are held in the bank by the Reto serve without compensation. It cever. develops that while he received no Ed Patterson, County Clerk of money for his work, that the lawyers Ormsby County, has made applicaand other expenses exceed. or at least tion for the receivership, this being will equal the amounts received in the only written application received cash. by the Judge. A supplemental report will be filed The matter of appointing the new since the application was made, givReceiver will be taken up upon the final settlement with Mr. Lockhart ing the figures as they are at the presand this will probably be concluded ent time. It is shown by the original to-morrow. report that lawyers fees amounting It is understood that verbal appli to $7,150 have been filed. It is pos cations for the receivership are to be sible that the Judge may trim them made by others representing the some and extent. to Typewriting heavy interests outside this county..

17. September 13, 1911 Tonopah Daily Bonanza Tonopah, NV
Article from Tonopah Daily Bonanza, September 13, 1911

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NYE & ORMSBY BANK CASE IN JUDGE LANGAN'S COURT The Carson Appeal of Monday writing and other expenses bring says: the amount to approximately $23,000 ,while the collections are pracThe hearing of the petition for tically in the same figures, thus discharge from the receivership of eating up the amounts received, the Nye & Ormsby bank by T. J. which were expected to go to the Lockhart, came up before Judge depositors. Langan and will occupy the best At the time of the failure in Ocpart of today. Mr. Lockhart asks tober, 1907, the bank owed deto be relieved from the further poitors and other creditors the sum management of the bank on the of $1,800,000. Upon re-opening, as grounds of ill health and personal the bank did for several months, business interests which are occuthe sum of $1,400,000 was paid Dying his attention. out or distributed through transIt is stated that in order to fers and other means, leaving at make further collections that lawthe present -time approximately suits will be necessary, and this $400,000 due depositors and banks would occupy too much of Mr. with other creditors. Lockhart's time in the different It is believed that this sum can courts where the suits are instiyet be trimmed by selling some tuted. securities that are held in the Mr. Lockhart took the receiverbank by the receiver. ship with the understanding that Ed Patterson, county clerk of he was to serve without compensaOrmsby county, has made application. It develops that while he retion for the receivership, this beceived no money for his work, that ing the only written application the lawyers and other expenses received by the judge. exceed, or at least will equal the The matter of appointing the amounts received in cash. new receiver will be taken up upon A supplemental report will be filed the final settlement with Mr. Locksince the application was made, givhart and this will probably be coning the figures as they are at the cluded tomorrow. present time. It is shown by the It is understood that verbal aporiginal report that lawyers' fees plications for the receivership are amounting to $7150 have been filed. to be made by others representing It is possible that the judge may the heavy interests outside this trim them to some extent. Týpecountry.

18. October 2, 1911 Tonopah Daily Bonanza Tonopah, NV
Article from Tonopah Daily Bonanza, October 2, 1911

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(Continued from Page One) has been made by the First National Bank in San Francisco, and it has been materially reduced. There is owing to the depositors of the Nye & Ormsby County bank the sum of $450,000, according to the reports submitted to me by Mr. Lockhart, and the sum of $36,000 been collected, out of which quite an expense of legal expenses, traveling expenses and court expenses has been paid, aggregating the sum of $17,906.78, that includes the preferred claims. The surplus over the amount expended is $14,869.24, over all the disbursements the surplus amounts to but $2794.07 The receiver, Mr. Lockhart, received from Mr. Hall, his predecessor the sum of $1087.19 in cash, leaving on the 11th day of September of this year the sum of $3881.26 in the hands of Mr. Lockhart. As I said before, if your services were simply to be measured by the time you gentlemen have put in and devoted to this receivership estate, unquestionably your services would be worth $10,000; but there are other matters to be considered by the court in fixing your fee, that is, when I say other matters, I refer to what you have accomplished in the way of collections, what you have accomplished for the receiver. You are about now, at this time to leave the receivership, and leave it in a somewhat chaotic condition. I mean by chaotic condition, a number of law suits are pending, at issue undetermined. Recently ycu had quite a time trying a case in Goldfield, the case of Douglass against Thompson, Moorehouse and Thompson and the receiver, Mr. Lockhart. Now the main issue in this case, the title to the bank building, supposed to be owned by the Nye and Ormsby County bank is undetermined. All of this litigation now pending and at issue or on demurrer is to be taken hold of by the next receiver to be appointed by the court, through his attorneys. I have tried to be fair with you gentlemen, and I believe I am, when I fix your fee at the sum of $6000. You have asked me for a fee of $7150 and I can assure you, if the Nye and Ormsby County bank was in a better condition financially than it is. I would have no hesitancy in fixing your fee at $7150. I believe you have earned it, but in the condition I find the Nye and Ormsby County bank, I believe it would be an injustice on my part, to allow you a larger fee than $6000. You may refer me to the fee I allowed James T. Boyd, if there was not an indebtedness between Mr. Boyd and the bank, I would not have allowed him that fee. I am disallowing you certain traveling expenses. Mr. Van Dyck was informed of my determination on the first report, but notwithstanding that, in Mr. Lockhart's second report he presented quite a number of items for traveling expenses, and I told him I was not responsible for Mr. Lockhart hiring an attorney who didn't live in Carson and if he lived in Goldfield, I could not allow traveling expenses from Goldfield here. Therefore, I have disallowed traveling expenses aggregating the sum of $1029.80, those are the figures I have here. Those are the specific items I disallowed those are the different items I have disallowed and which I have specifically enumerated to the clerk, and which he has in his record. You will have to verify this when you come to draw the order. In view of the announcement made in open court to Mr. Van Dyck of my attitude in this matter, it was his duty to live here and lock after the receivership. I did not approve of his living in Goldfield, and he did so at his peril, and I cannot and will not stultify myself in that regard. In the State Bank and Trust case I refused to allow Judge Mack or any member of that firm any traveling expenses from Reno here and in the same manner refused to allow Mr. Boyd his traveling expenses. I have refused the following items: $1000 for clerical hire of Mr. Van Dyck; $1029.80 traveling expenses and Van Dyck and Danforth fees, $1150, amounting to the sum of $3179.80. I see at this time no objection to accepting the resignation of Mr. Lockhart, conditioned upon his presenting to the court those orders

19. October 7, 1911 Carson City Daily Appeal Carson City, NV
Article from Carson City Daily Appeal, October 7, 1911

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REDUCED THE BONDS At a short session of the District Court held yesterday afternoon Jud ge Langan took up the matter of the Nye & Ormsby County Bank and the appointment of Ed. Patterson as the receiver. The Judge ;reduced the original bond from $125,000 to $50,000.

20. October 21, 1911 The Eureka Sentinel Eureka, Tonopah, NV
Article from The Eureka Sentinel, October 21, 1911

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# Lockhart Denies # Receivership Bill Goldfield Tribune: Thomas G. Lockhart, vice president of the Florence Company, who recently resigned as Receiver of the Nye & Ormsby County Bank, is spending a few days in Goldfield, and in commenting on a story of the closing of his receivership, sent out from Carson City, said: "The papers stated that I had presented a bill for $2500 for fees as receiver, and that Judge Langan had turned it down. The truth of the matter is that I did not present any bill whatever for my services as receiver, for I had agreed to take the job without fees or salary, but I did present a bill for $90 for traveling expenses and hotel bills during the 21 months I acted as receiver. Judge Langan allowed this instantly. During my receivership I traveled hundreds of miles strictly on bank business, paid my own hotel bills and railroad fare, which amounted to a good many hundred dollars, and finally presented a bill for $90. That is all I ever got or asked for on account of services and expenses during my 21 months as receiver. "It is true, as Judge Langan said, that the affairs of the bank were 'rotten to the core.' They were rotten before the bank busted, and it had been through six other hands before I ever got hold of it. I managed to collect something over $36,000, and out of this amount I paid all the expenses of the receivership, reduced some debts in Goldfield and San Francisco, and turned in a net balance of $14,689.24."

21. September 25, 1912 Carson City Daily Appeal Carson City, NV
Article from Carson City Daily Appeal, September 25, 1912

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REPORTS IN ORDER Now that The State Bank & Trust Company Receiver has published a report covering a period of two years, it maght be of interest to hear from The Nye & Ormsby County Bank along the same lines If there is being anything done along the line of settlement of this latter named concern it is not in evidence. There is a decision of some kind pending, in fact has been pending for a long time. and interested parties are wondering why, and in the meantime $19,000 belonging to Ormsby County as a special deposit is still in hiding and the taxpayers of this county are paying interest on borrowed money. Why this matter that concern all of the people should be held up for so long a time is past understanding. The Appeal has endeavored to solve the mystery but it is still a mystery. There must be a reason

22. October 30, 1912 Carson City Daily Appeal Carson City, NV
Article from Carson City Daily Appeal, October 30, 1912

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MR. PATTERSON'S POSITIONS AND THE BANK DECISION As Receiver he Must Defend the Suit for the Bank. As Treasurer he Must Collect the County Cash The News of this morning in reciting the decision of Judge Langan, and his granting the preferred claim to Ormsby County as against Receiver Patterson, of the Nye & Ormsby Bank, would lead the readers to believe that Mr. Patterson in the double character of Receiver on the one side, and the Treasurer on the other, has brought forth the money. In the first place Mr. Patterson is the elected County Treasurer. He deposited the money in the Nye Bank and it was lost with the other sums by depositors. Upon the demand of the commissioners and others, he brought a suit against the bank or its then Receiver, Mr. Lockhart, to make the loss a preferred claim. Attorney Sanford for the County broght the suit. Upon the retirement of Mr. Lockhart as Receiver, Mr. Patterson, then and yet County Treasurer, was appointed receiver of the bank. It is natural to suppose that he took up the duties of the receiver and defended the suit against the bank brought by Mr. Patterson, Treasurer. In Judge Langan's decision he states: "Council for the Receiver has referred me to the Statutes of Nevada regulating the manner in which public moneys may be deposited in a bank by a public official, and it is insisted that it is impossible for the public funds to be kept in a bank by a public official otherwise than as a general deposit and an open account." If the above is true, and it is quoted, it is apparant that Mr. Patterson. as receiver, defends the bank against the County, and that Mr. Patterson as Treasurer, wants the money for the County. The double capacity of Mr. Patterson has naturally called forth a lot of criticism. He was told ofi it at the time and since his appointment has been busy explaining how he could act as receiver and defend the suit against the bank, and at the same time be Treasurer and prosecute the same suit. There is a serious question in the minds of many as to the right of Mr. Patterson to act in the double capacity. Under the Revised Laws of Nevada the following paragraph is found: Rec. 139 - The Treasurer, ex-ffficio tax receiver, Sheriff, Assessor, Auditor, Clerk of the Board of Equalization, and each member of such board, shall each seperately perform the duties required of him in his office, and shall not perform the duties of any two offices under this act, except as provided in this act by law; and any officer who shall perform the duties of any two officers, in any "manner connected with the public revenues shall be,guilty of a felony and dismissed irom office." The question naturally arises how can Mr. Patterson be both receiver fight the County in its reclaining its money, and at the same time be its Treasurer demanding the money involved. As it going to take some time for Mr. Patterson of the Bank to pay Mr. Patterson of the County, it would seem Mr. Patterson of the Bank could put in the next two years very profitably for the people by raising the $22,836.36 as receiver and pay the same into the treasury to Mr. Meder who will see that the funds don't go astray again. It is worth giving consideration.

23. March 15, 1914 White Pine News Weekly Mining Review East Ely, Ely, NV
Article from White Pine News Weekly Mining Review, March 15, 1914

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# DECISION FAVORS # WELL KNOWN BANK. Receiver Patterson of the Nye & Ormsby Bank was a happy man Wednesday, and all on account of a little telegram from his lawyer in Seattle, Washington which said "Supreme court has decided the Bower case in your favor," says the Carson City News. This means the sum of $20,000 has been secured for the creditors of the defunct institution. About two years ago suit was instituted against Dr. Edward Bowes in Seattle for the collection of an amount due the bank. A large piece of property was placed under attachment in the city of Seattle. The suit came up for trial a year ago and Mr. Patterson spent a couple of weeks in the northern city attending to the case. Attorney Platt who is the attorney for the receiver had taken a great interest in the suit and through him a Seattle attorney was retained to attend to the trial. The case was decided in the supreme court in favor of the receiver and awarded him the sum of $22,000 which was the principal with interest and the attorney and court fees. The decision however held that the property under attachment was not community property but was the property of Mrs. Bowes. The receiver took an appeal to the supreme court of the state on this latter matter and by the telegram it is shown that the court held that the property under attachment was that of Bowes and subject to execution for the payment of amount adjudged to be owing.