First Bank of Rawhide

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: August 31, 1932
Location: Rawhide, Nevada (39.017, -118.391)

Metadata

Model: gpt-5-mini
Short Digest: 73cb3c4e

Response Measures

None

Description

Article (Aug 31, 1932) describes the First Bank of Rawhide as defunct with a receiver appointed by the Fifth Judicial District Court and assets nearly exhausted. No run or depositor panic is mentioned; the bank is in receivership and effectively closed.

Events (2)

1. August 31, 1932 Receivership

Newspaper Excerpt: Cavanaugh appointed ... kept his $20,000 bond in effect...There were no assets to pay such fee Cavanaugh waived it and accepted the 'thanks' of the court for his twenty-four years of responsibility; also describes assets nearly gone (all but $240).
Source: newspapers

2. August 31, 1932 Suspension

Cause: Government Action
Cause Details: Court action: receiver appointed by the Fifth Judicial District Court leading to suspension/closure.
Newspaper Excerpt: Frank job defunct First Bank of Rawhide, Nev has terminated with the the Fifth Judicial District Court of Nevada...the flourishing ing of Rawhide by the bank were lost
Source: newspapers

Newspaper Articles (1)

1. August 31, 1932 The Recorder San Francisco, CA

Article from The Recorder, August 31, 1932

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Article Text

Nevada Receiver Finds Job Costly F. J. Cavanaugh Declares Himself Unavailable for Further Service. HAWTHORNE Nev. Aug. Frank job defunct First Bank of Rawhide, Nev has terminated with the the Fifth Judicial District Court of Nevada, and Cavanaugh he not available for furThe job, estimates him more then of his Cavanaugh appointed and three days bond of $20,000 Shortly the entire the flourishing ing of Rawhide by the bank were lost Cash held the was deFirst NaBank of Goldfield, which to the reof all but $240 of the assets remaining Cavanaugh tried from to time during years the but for or another was to get the matter before the day Judge Emmett Walsh he had had in his $7.16 in of mining stock worthless total asthe In the was forced to keep his $20,000 bond in effect. The original bond premium was $60 year. The total cost exceeded Cavanaugh's attorney asked the receivership fee of $5000, but since there were no assets to pay such fee Cavanaugh waived it and accepted the "thanks" of the court for his twenty-four years of responsibility