14598. First Bank of Rawhide (Rawhide, NV)

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: state
Start Date: June 15, 1908
Location: Rawhide, Nevada (39.017, -118.391)

Metadata

Model: gpt-5-mini
Short Digest: 973a6866

Response Measures

Full suspension, Books examined

Other: Receivership later appointed; multiple Rawhide banks involved in contagion.

Description

Contemporary articles (June 15–20, 1908) report internal dissensions, bad loans and a subsequent depositor run which prompted directors to close/suspend the bank on June 15. Examiner found insolvency and a receiver was appointed in August 1908 (formal appointment reported Aug 11–12). Classified as run → suspension → closure (receiver/liquidation).

Events (3)

1. June 15, 1908 Run

Cause: Bank Specific Adverse Info
Cause Details: Internal dissensions, alleged bad management and large bad loans (including worthless loan to Wonder Trust Co.) triggered loss of depositor confidence and withdrawals.
Measures: Directors decided to close/suspend; requested state bank examiner to investigate; bank closed its doors and cashier told to keep funds in vault until examiner's report.
Newspaper Excerpt: The First Bank of Rawhide had internal dissensions, which reached the public and caused a run, which closed the bank.
Source: newspapers

2. June 15, 1908 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Directors closed the bank for protection after discovering low cash on hand, bad loans and depositor withdrawals; examiner called to investigate insolvency concerns.
Newspaper Excerpt: A notice on the front door says that the bank has suspended and that the State bank examiner has been requested to make an investigation of the assets.
Source: newspapers

3. August 12, 1908 Receivership

Newspaper Excerpt: Judge Langan has appointed Frank J. Cavanaugh receiver for the First Bank of Rawhide and has placed his bond at $20,000. The court ... formally declared the institution in liquidation (Aug 11–12).
Source: newspapers

Newspaper Articles (22)

1. May 22, 1908 Daily Independent Elko, NV

Article from Daily Independent, May 22, 1908

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SALMAGUNDI All the late up-to-date bakery goods Cochrane's. First-class bakery goods, bread, pies, cakes, etc., etc., at Cochrane's Don't fail the hear Miss Camp the * singer at the Electric Theatre. Dr. Alexander has returned to town and is ready to do all work in the dental line. Give him a call. Returns from Wednesday's primaries are slow in reaching the secretary of the county committee. None have been received since yesterday. According to the Gazette, the democratic primaries at Reno resulted in the election of seventeen delegates in favor of an instructed delegation to Denver and "two against. People.wishing to see Dr. Birtch will have until Sunday. Monday he starts for Lamoille and Ruby valleys. All eyes examined free and glasses fitted to all cases. The La Majestic cigar at the Club and Elk saloons is manufactured expressly for Mr. Gutridge. It is the cigar for mokers. Call for the La Majestic and * have a good smoke. For a short time Wednesday it was feared that W. R. Davis, secretary to Governor Sparks, would not recover. He rallied, however, and is now resting easy. His condition is still very serious. Mrs. Willis has returned from her California trip. We regret to learn that she is now suffering severely from rheumatism. Her many friends hope that she will soon be fully restored to health. Prominent educators are discussing a project to educate the poor whites of the southern states. One unacquainted with the conditions down there can have no idea of the vastness of such an undertaking. It is simply appalling. A. S. Minor of Reno has been indicted by the U.S. grand jury for robbing the postoffice at Sparks. Minor is the fellow who stole a package, containing 000 jewelry, from Wells-Fargo's express wagon in Reno several months ago. While claiming great credit for trying to reserve our forests by means of the "forest reserve act." the administration continues to offer a premium for the destruction of forests by retaining the tariff on lumber and wood pulp.Commoner. Wednesday, Judge O'Brien at Goldfield sentenced George Williams a Piute Indian, to be hanged at the Carson penitentiary within the next sixty days. The case will probably be appealed to the supreme court. Williams was convicted of the murder of Connors and Griffne, prospectors. George E. Robertson and A. H. Wagoner, Chicago capitalists, arrived last night to look over the Elko townsite. They will remain until Sunday. Mr. Wagoner is an old newspaper man, He is at present connected with the Illinois Staats Zeitung, and Chicago Freie Presse, German papers. The remains of James McLeod, who lied at Tenabo Monday afternoon from injuries inflicted by Ed. Weaver, were brought to Elko last night and taken to the Keyser's undertaking parlors. They will be shipped on No. 6 tonight to Ed. Manion at Terry, South Dakota. A suit has been begun at Goldfield for the appointnemt of a receiver for the First Bank of Rawhide. The suit is brought by John E. Pelton, a stockholder of the Wonder Bank and Trust Company. The Rawhide bank has a capital of $50,000, but little of which has been paid up. John Mayhugh, the Carlinite, is spending the day in town- He says the Western Pacific is working day and night shift the Palisade tunnel and that a

2. May 22, 1908 Weekly Independent Elko, NV

Article from Weekly Independent, May 22, 1908

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of an instructed delegation to Denv and two against. The La Majestic cigar at the Club a Elk saloons is manufactured express for Mr. Gutridge. It is the cigar f smokers. Call for the La Majestic a have a good smoke. For a short time Wednesday it w feared that W. R. Davis, secretary Governor Sparks, would not recove He rallied, however, and is now re ing easy. His condition is still ve serious. Mrs. Willis has returned from 1 California trip. We regret to lea that she is now suffering severely fro rheumatism. Her many friends ho that she will soon be fully restored health. Prominent educators are discussi a project to educate the poor whites the southern states. One unacquaint with the conditions down there can ha no idea of the vastness of such an und taking. It is simply appalling. A. S. Minor of Reno has been indict by the U.S. grand jury for robbing t postoffice at Sparks. Minor is t fellow who stole a package, containi $5,000 and jewelry, from Wells-Farg express wagon in Reno several mont ago. While claiming great credit for t ing to reserve our forests by means the "forest reserve act." the administ tion continues to offer a premium 1 the destruction of forests by retaini the tariff on lumber and wood pulp. Commoner. Wednesday, Judge O'Brien at Gol fieldsentenced George Williams a Pit Indian, to be hanged at the Carson per itentiary within the next sixty day The case will probably be appealed the supreme court. Williams was e victed of the murder of Connors a Griffne, prospectors. George E. Robertson and A. Wagoner, Chicago capitalists, arriv last night to look over the Elko townsi They will remain until Sunday. N Wagoner is an old newspaper man, is at present connected with the Illin Staats Zeitung, and Chicago Fr Presse, German papers. The remains of James McLeod, " died at Tenabo Monday afternoon fr injuries inflicted by Ed. Weaver, we brought to Elko last night and taken the Keyser's undertaking parlors. Th will be shipped on No. 6 tonight to I Manion at Terry, South Dakota. A suit has been begun at Goldfie for the appointnemt of a receiver I the First Bank of Rawhide. The S is brought by John E. Pelton, a stoc holder of the Wonder Bank and Tr Company. The Rawhide bank ha capital of $50,000, but little of whi has been paid up. John Mayhugh, the Carlinite, is sper ing the day in town- He says the We ern Pacific is working day and nig shifts on the Palisade tunnel and tha new camp has been established betwe Tonka and Vivian. He informed us tl orders have been given to rush the wo on the Tonka and Palisade tunnels. In the whole naval militia fleet 22 vessels. there are only two or th

3. June 15, 1908 Carson City Daily Appeal Carson City, NV

Article from Carson City Daily Appeal, June 15, 1908

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HAND MOUNTS TO $2500 bilities Are Estimated at $40,000. Examiner Hofer es Charge of Institution lished a branch in Rawhide last Janturday the Frist Bank osed its doors and touary. miner Hofer left Reno In April, owing to the considerable volume of business then being transfor the camp and will e of the institution. Mr. acter it was considered advisable to amine the bank às soon incorporate the Rawhide branch as a d will then make a reseparate bank and a charter was obState Bank Commission tained under the name of the Frist Its financial condition. Bank of Rawhide. During the past was ordered closed by few weeks, however, owing to the rectors of the institution number of people leaving the camp and Senator Pyne. This we lost about 7 per cent. of our deken by these men upon posits, although every demand was ed by the cashier that met without difficulty. remained in the vaults "As it appeared we were not likely to have further extensive withdrawls hese gentlemen learned and there was therefore no immediate of affairs they imediReno where they went necessity for my presence in Rawhide ation with President I came to Reno four days ago with the bank who was in the purpose of intetresting capital ing to raise the necesand hoping to dispose of part of the unsubscribed bank stock. Adive D carry on the business and tide it over the from the bank did not disclose any le. further depreciation and I was, thereying Rawhide the two fore. surprised to learn from Messrs. discovered that PrenPyne and Rickard, directors of the led the Bank of Wonder bank, who arrived in Reno this mornis also the president ing, that there had been no further also that he had made decline in deposits. "As it was not certain that outo a mining company in also interested. They standing loans could be collected lo get these loans and quickly enough to meet any further to the bank, but the possible decline it was considered he had been unable to advisable for the protection of everyoney. When this statebody to close the bank until the ade Rickard and Pyne State Bank Examiner could make his the cashier to keep the report. which will he will do on until further orders. Tuesday. I have therefore wired the miner Hofer was wired cashier to close the bank until such so attorney general Stodreport is received. hese two gentlemen imRUSSELL PRENTICE. ent to Reno. A meeting Directors Rickard and Pyne have st night at which Presimade the following statement ree, Directors Rickard and garding the closed bank and their Iner Hofer, General Stodinterests in its affairs: "About two months ago E. A. AldAttorney Huskey of the nk were present. At the rich. formerly for four years assistant cashier of the Statte Bank and Trust president stated that as could estimate the assets Company of Goldfield, came to us and $2,500 in cash and about told us that he could secure the posih of loans and the liabiltion of cashier of the First Bank of imated about $41,000. He Rawhide if we would subscribe for he meeting that he had some stock in that bank. Aldrich declared that the loans of the First hing in his power to save on and had tried to sebank of Rawhide were all right. exnce from the Reno bankcepting $2500 worth. met with no success. He He said thatt he deposits amounted the cause of the difficulty to about $120,000. He asked us to the fact that fully 9000 go into it in order that he might get left the camp in the last the position mentioned. We granted months and that they had the request of Aldrich. Pyne subtheir accounts from the scribing for $500 and Rickard $500 ing the cash on hand. worth of the stock of the bank: Ald o the fact that Prentic rich was accordingly appointed it dent of the Wonder Bank cashier. We (Pyne and Rickard was, advised to examine went in as directors on April 11 last tion and report to the The Wonder Bank and Trust Com ission as to its condition. pany which had been run originally e was also informed that as a bank in Wonder, started in Jan knew the bank to be in uary last a branch at Rawhide, which solvent and sound condi- in April was taken over by the Firs f he received any future Bank of Rawhide. The First Ban I would do so at his own of Rawhide was incorporated wit W 3 the general impression Russell Prentice for $23,000. H. onder Bank will close its Huskey $1000 and B. S. Bethel $100 after an examination is At the time of taking over the branc Examiner Hofer. of the Wonder Bank, the First Ban of Rawhide was organized for $50,00 ctors of the closed bank After this organization we went int sel Prentice, President: the bank as aforesaid. The deposit ce-president; George D. Rickard and J. H. Luedke. were over $100,000, the loans abou $37,000. wing statement was made The bank went along until abou ES in Reno last night by Prentice of the Rawhide May 13, when Mr. Pelton, a dissatis fied stockholder in the Wonder bani commenced suit against Prentice an nder Bank and Trust Comthe First Bank of Rawhide, allegir ch remained open all that he had not received his part le panic last fall, meeting the profits of the transfer to the Fir and and not even closing Bank of Rawhide and asking that uring the days which were Receiver be appointed for the ban ) be legal holidays, estab-

4. June 17, 1908 Tonopah Daily Bonanza Tonopah, NV

Article from Tonopah Daily Bonanza, June 17, 1908

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RAWHIDE BANK IN BAD SHAPE BANK EXAMINER ON WAY TO COURT TO MAKE EXAMINATION. RAWHIDE, June 15.-Directors of the First Bank of Rawhide met last night and decided to close the doors of the institution this morning. Accordingly a notice on the front door says that the bank has suspended and that the State bank examiner has been requested to make an investigation of the assets. The Merchants and Miners Bank experienced no run on account of the failure, and no trouble is anticipated. But few depositors were caught in the closing of the First Bank. When J. Pelton filed his action in Goldfield for a receiver some weeks ago, the majority of the depositors took the hunch and withdrew their money. Although the matter was patched up and the suit dismissed, the institution could not command much patronage, and there had been rumors for a week that it would close its doors. The depositors charge that the bank has been badly managed. Bank Examiner Hofer, accompanied by ex Rickard and G. D. Pyne, left Reno this evening for Rawhide and will make a thorough investigation. It appears that the deposits amount to about $40,105, while actual cash on hand will not exceed $3,500. According to Pyne, E. E. Aldridge came to him and Tex Rickard two months ago and told them that he could get the job of cashier at the bank providing both of them would subscribe for some stock. Pyne put up $500 and Rickard $5,000. Aldridge got the position and Rickard and Pyne were later made directors. He is said to have told them that the bank's loans were all right and that the deposits amounted to $120,000. The middle of last month Pelton, 6, dissatisfied stockholder, asked for it receiver, claiming that the directors had been guilty of wrong in the manner they formally took over the bank from the Wonder Bank and Trust company. The suit was compromised a few days later. George F. Red. way, who was cashier after Aldridge resigned, went to Rickard Saturday last and told him that the bank was short of cash and that Russell Prentiss, the president, was at Reno trynig to get money. The cashier is said to have declared that the vaults contained only about $3,500 cash on hand. Some of the directors went to the bank at once and are said to have found about $40,000 deposits, and loans, $44,000. Of the deposite, $10, 000 is said to belong to Rickard. Prentiss is declared to have recently loaned the Wonder Bank and Trust company $11,000.

5. June 19, 1908 Carson City Daily Appeal Carson City, NV

Article from Carson City Daily Appeal, June 19, 1908

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Another Bank Closes Doors The Bank of Rawhide closed its doors yesterday afternoon at 2 o'clock ending the completion of the examiner's report. This is not unexpected as it was known that the failure of the First Bank of Rawhide would result in a run on the other bank. This happened, and all day yesterday the bank was busy paying off depositors, but the strain could not last very long, and it was decided today to close until the bank examiner had completed his inspection of the bank's affairs. The bank of Rawhide was merged some time ago with the Miners and Merchants bank and would probably have weathered all difficulties had it not been for the sudden closing of the First Bank. Rawhide is now without a bank of any sort, with the exception of the branch of the Nye and Ormsby County bank which is closing up its business as rapidly as possible preparatory to its disbanding.

6. June 19, 1908 Carson City Daily Appeal Carson City, NV

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TWO MORE BANKS ARE INSOLVENT Rawhide and of Bank First Wonder Trust Company are Beyond Redemption Bank Examiner T. R. Hofer returnstitution. Mr. Hofer made a partial examination of this bank and stated ed from Rawhide by auto this afterthis afternoon that it is in a fairly noon after an all night ride In speak good condition and will undoubtedly ing of the conditions in a banking be able to meet all its obligations. way existing at that camp he stated "The other two banks however," this afternoon to a representative of said Mr. Hofer, "are beyond redemptthe Appeal that both the First Bank ion and a receiver will be recomof Rawhide and the Wonder Bank mended in my report to the bank and Trust Company of Wonder were commission which I will have ready insolvent and in a very bad condition. as soon as possible to do SO. "Both these banks have gone to the These banks are both presided OVer by President Prentice and were wall through bad loans made and poor judgment by the officials in the forced to close their doors by the action of directors Rickard and Pyne handling of the institutions." Mr. Hofer intends to have his rewhen these gentlemen learned of the condition the bank of Rawhide was port ready for the meeting of the bank commission which is to be held in. Mr. Hofer stated that he found conon Monday next. The attorney general is preparing the necessary papsiderable excitement in the camp and ers in the case and when instructed a general feeling of unrest. It was by the bank commission will be ready owing to this condition that the run to make an immediate application for was started on the Merchants and Miners bank of Rawhide yesterday the appointment of receivers for the which caused the closing of the in- two banks.

7. June 19, 1908 Carson City Daily Appeal Carson City, NV

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Bank Examiner T. R. Hofer returned from Rawhide by auto this afternoon after an all night ride In speak ing of the conditions in a banking way existing at that camp he stated this afternoon to a representative of the Appeal that both the First Bank of Rawhide and the Wonder Bank and Trust Company of Wonder were insolvent and in a very bad condition. These banks are both presided OVer by President Prentice and were forced to close their doors by the action of directors Rickard and Pyne when these gentlemen learned of the condition the bank of Rawhide was in. Mr. Hofer stated that he found considerable excitement in the camp and a general feeling of unrest. It was owing to this condition that the run was started on the Merchants and Miners bank of Rawhide yesterday which caused the closing of the in-

8. June 20, 1908 Deseret Evening News Salt Lake City, UT

Article from Deseret Evening News, June 20, 1908

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RAWHIDE BANKS INSOLVENT. Reno. June 19.-Bank Examiner Hofer returned from Rawhide this morning and reported that the First Bank of Rawhide and the Wonder Trust company are both insolvent. The attorney-general will ask for a receiver for the First Bank of Rawhide and the Wonder Trust company. The bank examiner states that the bank of Rawhide is solvent and will soon pen again.

9. June 20, 1908 Tonopah Bonanza Tonopah, Butler, NV

Article from Tonopah Bonanza, June 20, 1908

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RAWHIDE BANK IS IN A BAD CONDITION RAWHIDE, June 15.-Directors of the First Bank of Rawhide met last night and decided to close the doors of the institution this morning. Accordingly a notice on the front door says that the bank has suspended and that the State bank examiner has been requested to make an investigation of the assets. The Merchants and Miners Bank experienced no run on account of the failure, and no trouble is anticipated. But few depositors were caught in the closing of the First Bank. When J. Pelton filed his action in Goldfield for a receiver some weeks ago, the majority of the depositors took the hunch and withdrew their money. Although the matter was patched up and the suit dismissed, the institution could not command much patronage, and there had been rumors for a week that it would close its doors. The depositors charge that the bank has been badly managed. Bank Examiner Hofer, accompanied by Tex Rickard and G. D. Pyne, left Reno this evening for Rawhide and will make a thorough investigation. It appears that the deposits amount to about $40,105, while actual cash on hand will not exceed $3,500. According to Pyne, E. E. Aldridge came to him and Tex Rickard two months ago and told them that he could get the job of cashier at the bank providing both of them would subscribe for some stock. Pyne put up $500 and Rickard $5,000. Aldridge got the position and Rickard and Pyne were later made directors. He is said to have told them that the bank's loans were all right and that the deposits amounted to $120,000. The middle of last month Pelton, a dissatisfied stockholder, asked for a receiver, claiming that the directors had been guilty of wrong in the manner they formally took over the bank from the Wonder Bank and Trust company. The suit was compromised a few days later. George F. Redway, who was cashier after Aldridge resigned, went to Rickard Saturday last and told him that the bank was short of cash and that Russell Prontiss, the president, was at Reno trynig to get money. The cashier 18 said to have declared that the vaults contained only about $8,500 cash on hand. Some of the directors went to the bank at once and are said to have found about $40,000 deposits, and loans, $44,000. Of the deposits, $10, 000 is said to belong to Rickard. Prentiss is declared to have recently loaned the Wonder Bank and Trust company $11,000.

10. June 20, 1908 The Goldfield News Goldfield, NV

Article from The Goldfield News, June 20, 1908

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ALL RAWHIDE BANKS FORCED TO SUSPEND BUSINESS Rawhide experienced a sharp and telling blow this past week, when every bank in the camp closed its doors and suspended business. The mines of the camp are in excellent condition, apparently, but business was overdone and. as likely in all new mining camps of the "hurrah" kind, was done in a loose and unbusinesslike way. The First Bank of Rawhide had internal dissensions, which reached the public and caused a run, which clesed the bank. A run was then begun on the Merchants and Miners bank, the most substantial in the camp. The bank remained open through the first day, as it had 50 per cent of its deposits on hand, and believed that any run would not last over one day, should they make a show of money. Over $20,000 was paid out the first day. The second day the bank opened and $7,000 was with. drawn. On the third day, over $20,000 were again withdrawn, and the bank was forced to close its doors. This bank had only a few days previous, consolidated with the Bank of Rawhide. Whether any of the mining companies had large accounts with the banks is not known, but it is likely that several will be more or less crippled for & time.

11. June 20, 1908 The Salt Lake Herald Salt Lake City, UT

Article from The Salt Lake Herald, June 20, 1908

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BOTH INSOLVENT. Reno, June 19.-Bank Examiner Hofer returned from Rawhide this morning and reported the First Bank of Rawhide and the Wonder Trust company are both insolvent. The attorney general will ask for a receiver for the First Bank of Rawhide and the Wonder Trust company. The bank examiner states that the bank of Rawhide is solvent and will soon open again.

12. June 21, 1908 Tonopah Daily Bonanza Tonopah, NV

Article from Tonopah Daily Bonanza, June 21, 1908

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TWO INSOLVENT THIRD SOLVENT CAPON CITY, Nev., June 20.Bank Ex iner Hofer returned to Carson from Rawhide this morning and reports th the Firse Bank of Rawhide and the ond * Trust ComRussell pany are 2 both in year Prentice is president both these banks. The Attorney-C ral will leave for Goldfield tomorro to ask ICY a receiver for the First will B. he 6 hide, and from there Fallon, where he will petition for receiver for the Wonder Trust Company. The Bank Examiner states that the Bank of Rawhide is solvent and will soon be able to open again.

13. June 24, 1908 The White Pine News Ely, NV

Article from The White Pine News, June 24, 1908

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NO CHANCE FOR . BANK Rickard Says Rawhide Concern is Hopeless-Business Goes Ahead "There is no more chance for the First Bank of Rawhide to reopen its doors or to pay out in full than there is that I will fly, said G. L. Rickard last evening shortly after arrival from that place. "It is absolutely insolvent and I expect to be out about $7,000 on the transaction. It is: I believe. sheer foolishness to talk of starting up again. "Yes, the reports which have been made public to this time about it are true. There are at least $2,100 in bad loans and probably much more, beside the affairs of the institution being in a very tangled condition. The loan to the Wonder Bank & Trust Co., of which Russell Prentice, the president of the First Bank of Rawhide, was also president, is absolutely worthless. It is in even worse shape than the Rawhide institution. The other and second largest bad loan is on the Airship Fraction. a practically worthless piece of property. "George F. Redway, formerly cashier of the bank, is to be appointed receiver tomorrow. Since I closed the doors of the institution last week, it has been in the hands of the state bank commission." Mr. Rickard stated that since the closing of the banks at Rawhide his saloon has been acting as a clearing house for the town, cashing all checks and bringing in money every other day from Reno to meet the public demands. The town is very quiet at present, he states. He will the in Ely for a few days. looking his local interests. Mr

14. June 25, 1908 Carson City Daily Appeal Carson City, NV

Article from Carson City Daily Appeal, June 25, 1908

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WILL FIGHT RECEIVER Key Pittman Says Rawhide Banks, Now Closed Will Pay A dispatch from Rawhide has the the following concerning the closed banking institutions there and conveys the information that a fight will be made against the appointment of a receiver: Key Pittman the well-known attorney left Rawhide Wednesday morning for Carson City where he is going to put up a fight against the appointment of a receiver for the First Bank of Rawhide. Pittman says the bank can pay 25 per cent of its obligations and is therefore not insolvent. A movement is afoot to have it absorbed in a Rawhide National Bank and the proposition embraces the project of taking in the business of the "two banks of the camp. Pittman states that the Merchants' and Miners Bank is also in a position to pay 25 per cent to depositors right now and that if the creditors of both institutions should agree to it. an arrangement would be perefeted whereby both banks pay down 25 per cent and issue time certificates for the rest of the indebtedness and the National Bank would be f sponsor for the certificates.

15. June 26, 1908 Tonopah Daily Bonanza Tonopah, NV

Article from Tonopah Daily Bonanza, June 26, 1908

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RAWHIDE'S ONLY BANK A SALOON 1 RENO, Nev., June 25.--State Bank Examiner Hofer returned from Rawhide last night, after making his examination of the First Bank of Rawhide and the Merchants and Miners' Bank at that place. He also examired the Bank of Wonder, and de. clares that all three of the institutions are insolvent. He says the Merchants and Miners' Bank may be able to settle its claims if the creditors do not press them, and a little time is given. The Northern Saloon, run by Tex Rickard, at Rawhide, has practically assumed all banking operations, an-1 tonight Rickard came up to Reno with several thousand dollars' worth of checks which he has cashed. Rickard has arranged to serve as a clearing house for the Rawhide merchants and will do a banking busi. ness over his bar.

16. June 27, 1908 The White Pine News Ely, NV

Article from The White Pine News, June 27, 1908

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REHABILITATE RAWHIDE BANKS Key Pittman Opposes Naming of Receiver-Says Institutions Can Pay 25 Per Cent. RAWHIDE, June 26.-Key Pittman left Rawhide this morning for Carson, where he is going to put up a fight against the appointment of a receiver for the First Bank of Rawhide. Pittman says the bank can pay 25 per cent of its obligations and is therefore not insolvent. A movement is afoot to have it absorbed in Rawhide National bank and the proposition embraces the project of taking in the business of the two banks of the camp Pittman stated that the Merchants' and Miners' bank was also in a position to pay 25 per cent to depositors right now and that if the creditors of both institutions should agree to it, an arrangement would be perfected whereby both banks pay down 25 per cent and issue time certificates for the rest of the indebtedness and the national bank would be sponsor for the certificates.

17. June 27, 1908 The Garland Globe Garland, UT

Article from The Garland Globe, June 27, 1908

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NORTHWEST NOTES The Merchants and Miners' bank of Rawhide, Nevada, after standing a. run for four days, closed its doors. It is reported that business will be resumed and depositors paid in full. The power plant of the Portland Railway Light and Power company at Cazadero was almost entirely destroyed by fire Sunday. The plant is valued at three-quarters of a million dollars. Lewis Ferris was acquitted of the charge of murder in connection with the dynamiting of the Overland Burlington train near Butte, May 1 last, after the jury had deliberated on the case scarcely an hour. The first murder at Tip Top, the new mining camp, twelve miles from Mills City, Nevada, occurred last week when O. E. Cockrill shot M. E. Jacobs, both mining men, in a dispute over a mining claim. Bank Examiner Hofer of Nevada reports the First Bank of Rawhide and the Wonder Trust company are both: insolvent. The bank examiner states that the bank of Rawhide is solvent and will soon open again. An unknown man was killed at Nyssa, Ore., while endeavoring to steal a ride on a freight train. While endeavoring to get on the rapidly moving train he slipped and the wheels passed over both legs, death resulting a few hours later. By the explosion of a carload of dynamite near Sargent, Colo., a freight train on the Denver & Rio Grande railroad was blown to pieces, two tramps were killed and several trainmen were injured, one fatally. A hole four feet deep was blown in the ground. Christopher A. Wills, aged about 60, was found dead, fully dressed, lying across his bed in the Melrose apartments at Reno, Nevada. It is thought he died from natural causes. Willis was from Buffalo, N. Y., where he has a wife and little daughter living. Forty-five miles from Pioche, in a northerly direction, a new mining district has been organized. Atlanta is the name of the new district and every foot of available ground has been taken up. Pioche is the nearest supply point for the new district. The decision of the interstate corhmerce commission upholding, in the main, the case of the lumbermen of the Pacific northwest, ends the contention which for the past eight months has tied up the lumber indusu o try of this section of the country. Joe Schafer, negro, twice sentenced Pullip the JoJ pesueq be 01 Butte 18 of a man named Hawkins, but savea from the noose each time by the sue preme court, which reversed the finding of the lower court, has been an a. rested in Salt Lake City, charged with 71 beating a woman over the head with chall. e p An explosion partially wrecked the 18 front part of a house occupied by w members of the Mormon faith at Eugene, Ore. None were injured, but 0 Mrs. E. E. Howell, one of the ind mates, suffered so severe a nervous A) shock that she was rendered uncon. scious. A note of warning was found posted in the building. 'A Two thousand five hundred miners os in the Northern Colorado coal fields quit work last week, intending to re'. main out until the operators grant an 08 increase in wages or make satisfactory concessions. If after further neJO gotiations between the United Mine Workers' officials and the operators no 'p settlement is reached, a formal strike will be called. JO ... State Senator Charles McDonnell of Sweet Grass county, Montana, is conducting a series of experiments in conjunction with Luther Burbank. He has already succeeded in raising a large crop of pineapples and is now Brajting different THE processes. He proposes to graft the banana tree and the loco weed, and claims he can produce an edible fruit. He also proposes to make a creeping vine of the sugar beet plant. and killed Luther Heckman, aged 21, was

18. June 27, 1908 The Coalville Times Coalville, UT

Article from The Coalville Times, June 27, 1908

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NORTHWEST NOTES The Merchants and Miners' bank of Rawhide. Nevada, after standing run for four days, closed its doors. It is reported that business will be resumed and depositors paid in full. The power plant of the Portland Railway Light and Power company at Cazadero was almost entirely destroyed by fire Sunday. The plant is valued at three-quarters of a million dollars. Lewis Ferris was acquitted of the charge of murder in connection with the dynamiting of the Overland Burlington train near Butte. May 1 last, after the jury had deliberated on the case scarcely an hour. The first murder at Tip Top. the new mining camp. twelve miles from Mills City, Nevada, occurred last week when O. E. Cockrill shot M. E. Jacobs, both mining men, in a dispute clarm. Sujuju " тело Bank Examiner Hofer of Nevada reports the First Bank of Rawhide and the Wonder Trust company are both insolvent. The bank examiner states that the bank of Rawhide is solvent uado uoos THAN pue An unknown man was killed at Nyssa, Ore., while endeavoring to steal a ride on a freight train. While endeavoring to get on the rapidly moving train he slipped and the wheels passed over both legs, death resulting a few hours later By the explosion of a carload of dynamite near Sargent. Colo., a freight train on the Denver & Rio Grande railroad was blown to pieces, two tramps were killed and several trainmen were injured, one fatally. A hole four feet deep was blown in the ground. Christopher A. Wills, aged about 60, was found dead, fully dressed, lying across his bed in the Melrose apartments at Reno, Nevada. It is thought he died from natural causes. Willia was from Buffalo, N. Y., where he has a wife and little daughter living. Forty-five miles from Pioche, in a northerly direction, a new mining dis. trict has been organized. Atlanta is the name of the new district and every foot of available ground has been taken up. Pioche is the nearest supply point for the new district. The decision of the interstate commerce commission upholding, in the main. the case of the lumbermen of the Pacific northwest, ends the contention which for the past eight months has tied up the lumber industry of this section of the country. Joe Schafer, negro, twice sentenced I at Butte to be hanged for the killing DOARS and Рэшни user V JO from the noose each time by the supreme court, which reversed the finding of the lower court, has been an rested in Salt Lake City, charged with beating a woman over the head with challe e An explosion partially wrecked the front part of a house occupied by members of the Mormon faith at Eugene, Ore. None were injured, but Mrs. E. E. Howell, one of the ino mates, suffered so severe a nervous shock that she was rendered unconscious. A note of warning was found posted in the building. Two thousand five hundred miners In the Northern Colorado coal fields I quit work last week, intending to ren main out until the operators grant an increase in wages or make satisfactory concessions. If after further negotiations between the United Mine Workers' officials and the operators no settlement is reached, a formal strike will be called. State Senator Charles McDonnell of Sweet Grass county, Montana, is conducting a series of experiments in p conjunction with Luther Burbank. He has already succeeded in raising a large crop of pineapples and is now 0 experimenting with different grafting processes. He proposes to graft the to banana tree and the loco weed, and claims he can produce an edible fruit. He also proposes to make a creeping vine of the sugar beet plant. a Luther Heckman, aged 21, was killed and a number of persons shocked and bruised, though not seriU ously injured by an explosion of 3,000 " pounds of nitroglycerine at the E. I. Dupont Denemours Powder company's works at Louviers, twenty miles south of Denver. S Through the coolness of Assistant Secretary James E. Dougherty, of the 0 state humane society, Governor Henry A. Butchel of Colorado escaped probable injury at the hands of Mrs. Annie 11 Jochim, an insane woman. The woman was looking for the governor with revolver. B 01 SI dollar million меи V be the demands constructed of at Winnipeg to meet

19. July 29, 1908 Tonopah Daily Bonanza Tonopah, NV

Article from Tonopah Daily Bonanza, July 29, 1908

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RECEIVER FOR RAWHIDE BANK (By Associated Press. ) CARSON, July 28.-Application for a receiver for the First Bank of Rawhide was made today before Judge Langan. The appointment will be made August 6.

20. July 29, 1908 The San Francisco Call San Francisco, CA

Article from The San Francisco Call, July 29, 1908

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Telegraph Brevities LIPTON ENTERTAINS ATHLETES London, July 28.-Sir Thomas Lipton entertained a party of 65 visiting athletes, among them many Amerleans, on his steam yacht Erin today. BANDITS SECURE $40,000-Tiraspol, Russia, July 28.-A band of unknown men today attacked the offices of the cashier at the local railroad station and got away with $40,000. BANK WANTS RECEIVER Carson. Nev., July 28.-The-applleation for a receiver for the First Bank of Rawhide was made today. before Judge Langdon. The appointment will be made on August 6 and in all probability A. A. Codd will be named as the man. APPEAL OIL CASE Bakersfield, July 28.The famous oil land case of the Lackawanna oil company against the Santa Fe, in which decisions against the latter have been rendered in the United States land office. will be appealed to the secretary of the interior. RUSSIAN CHOLERA VIRULENT-St. Petersburg. July 28.-The cholers that has made its, appearance in Russia this year is most virulent. According to investigations made by a distingushed medical authority, the sanitary conditions in the Volga towns are horrible. TRAIN KILLS MAN-Reno, Nev July 28.An unknown man who was stealing a ride on- the overland limited was ground to pieces beneath the wheels and his body strewn in bits for over a mile three miles east of Winnemucca. An inquest did not develop his identity. CONGRESSMAN POWERS DIES-Houlton, Me., July 28.-Representative Llewellyn Powers of the fourth Maine congressional district died at his summer home here early today. Powers served as governor of Maine for two terms and was serving his sixth term in congress. SIX YEARS FOR LARCENY Bakersfield, July 28.-Marion Marjory, 19 years old, of Salinas. was today sentenced to six years in San Quentin for grand larceny. involving the theft of a cheap watch. Otto Kell and J. A. Mendoza, who pleaded guilty to forgery, were given five years in the same prison.

21. August 12, 1908 Carson City Daily Appeal Carson City, NV

Article from Carson City Daily Appeal, August 12, 1908

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Receiver is Appointed Judge Langan has appointed Frank J. Cavanaugh receiver for the First Bank of Rawhide and has placed his bond at $20,000. The case was heard in the court in this county a couple of weeks ago and at that time it was given out that A. A. Codd would protably receive the appointment. However, the depositors in the defunct institution favored the appointment of Cavanaugh and the appointment was made in accordance to their wishes. The appointee is interested in Rawhide, where he nas a number of claims and is prominently interested in some of the big leases of the camp.

22. August 12, 1908 Tonopah Daily Bonanza Tonopah, NV

Article from Tonopah Daily Bonanza, August 12, 1908

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RECEIVER FOR RAWHIDE BANK GOLDFIELD, Aug. 11.-Another echo of the financial troubles at Rawhide was heard in Judge Langan's court yesterday, when Frank J. Cavanaugh was appointed receiver for the First Bank of Rawhide. The court fixed his bonds at $20,000. The judge also formally declared the institution in liquidation. The application for liquidation was heard by Judge Langan some time ago, but the formal orders were not entered until yesterday. President Prentice reported that the liabilities of the bank were in the vicinity of $52,000 at the time of the failure, but this is not likely to be verified by the developments, as the deposits alone run close to $35,000, without considering certificates of deposit or the claims of stockholders. One prospect is listed for a loan of $9000, which would have been going it pretty strong on a conservative basis, with a loan of $1000. Mr. Cavanaugh's petition was signed by depositors representing $28,000. The only other applicant was A. A. Codd. Mr. Cavanaugh came from Denver, where he was manager of the Postal Telegraph Cable company, and for some time conducted an undertaking establishment in Goldfield, afterwards casting his fortunes with the Rawhide district. He is interested in the Miller lease on the Hooligan Hill, on the Coalition property, where he is associated with Thomas Kerns, J. R. Meeker and M. D. Reay. Last week these men made one shipment ce of thirty-eight and one-half tons to 1, the Gates mill, which yielded an as average of $42 per ton. They sent tanother shipment of fifty tons out e. yesterday. Mr. Cavanaugh said that ethe Bradford mill was booked to beve gin operations yesterday with a care pacity of twenty tons a day, and is enough ore in sight to keep the mill he going for one month. ri-