14605. Reno National Bank (Reno, NV)

View Charter #8424 on SPMC

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 8424
Charter Number: 8424
Start Date: November 1, 1932
Location: Reno, Nevada (39.530, -119.814)

Metadata

Model: gpt-5-mini
Short Digest: 63d47223

Response Measures

None

Receivership Details

Depositor recovery rate: 57.6%
Date receivership started: 1932-12-09
Date receivership terminated: 1941-10-16
Share of assets assessed as good: 22.5%
Share of assets assessed as doubtful: 50.8%
Share of assets assessed as worthless: 26.7%

Description

The Reno National was closed as part of a statewide banking holiday beginning November 1932 and did not reopen; a federal receiver (Walter J. Tobin) was appointed in December 1932. Articles describe a declared banking holiday (government action) and later receivership and litigation. No discrete depositor run on the Reno National itself is described in these clippings (runs mentioned refer to other banks, e.g., First National).

Events (6)

1. November 2, 1906 Chartered

Source: historical_nic

2. November 1, 1932 Suspension

Cause: Government Action
Cause Details: State-declared banking holiday / moratorium in November 1932 to prevent runs and permit reorganization of Wingfield banks; banks were put on 'holiday' (moratorium) and remained closed and subject to extensions.
Newspaper Excerpt: requested that legal holiday be declared for banks and banking in the state of Nevada from November 1932 until November 15, 1932 ... the said banks are still closed
Source: newspapers

3. December 9, 1932 Receivership

Source: historical_nic

4. December 10, 1932 Receivership

Newspaper Excerpt: Walter Tobin ... left ... for Reno, Nev., to take the position of receiver for the Reno National bank. ... The Reno National bank, and considerable number of affiliated banks, were closed about two months ago. Yesterday the directors of the bank decided to go receivership ... message from Washington ... from the federal comptroller of banks appointed Tobin receiver for the Reno National bank . . . . (Great Falls Leader 1932-12-10).
Source: newspapers

5. December 29, 1932 Receivership

Newspaper Excerpt: Walter J. Tobin, former Billings resident, has taken over his duties as receiver of the Reno National bank at Reno, Nev. His appointment to the position was made ... (Billings Gazette 1932-12-29).
Source: newspapers

6. January 20, 1933 Other

Newspaper Excerpt: banking holiday was declared... the Reno National Bank and the National Bank were placed in the hands of national bank and the other banks placed in the hands of the bank examiner the state of Nevada and 'Whereas, the said banks are still closed,' (Reno Gazette-Journal 1933-01-20).
Source: newspapers

Newspaper Articles (23)

1. November 2, 1932 Fremont Tribune Fremont, NE

Article from Fremont Tribune, November 2, 1932

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NEVADA MERCHANTS BENEFIT BY PLAN Closing of Banks Causes Surprise Events RENO. NEV. merchants and discovered unexpected in what started out to round from and spun suits only urged up the closed banks. was and on of citizens. All hoarded suddenly released from sugar and simbegan to rush into circulation. Police Chief M. Kirley feared alert footpads, armed with lengths rubber nose filled with birdshot, would the "holiday. He urged citizens leave their station safe. Thousands dollars was "on deposit" there today. One "holiday victim" was Delbert Hammond, who recently sold little business-a cozy saloonfor $7,000. Today be still had the was locked the Reno Naone "holiday and Hammond his was eating credit. "It's philosophised Ham"Twenty years ago when belonged the club. There were the "George the only one who has his George's 12 are closed."

2. November 2, 1932 The Hanford Sentinel Hanford, CA

Article from The Hanford Sentinel, November 2, 1932

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(Continued from Page bank in the city to remain open. stacked up $3,000,000 in cash. "Come get invited President Richard Kirnan. "Come again he urged closing time. Others, whose quiet withdrawals in recent weeks was in part responsible for the "moratorium," also found themselves with cash in their pockets or hidden in their sugarbowls. The gambling halls had their thousands of dollars kept pay off winning streaks. $17,000,000 Locked There was at least $17,000,000 locked up in the closed banks. But there was $3,000,000 more in the First National, and thousands on thousands in pockets of citizens. All the cash, so suddenly released from strongholds, began to rush into circulation. Police Chief Kirkley feared footpads, armed with lengths of rubber hose filled would join the "holiday." He urged citizens to leave their cash in the station safe. Thousands of dollars "on deposit" there today. One "holiday victim." was Delbert Hammond. recently sold his nice little cozy Today he still had the $7,000. but was locked up in the Reno National. one of the "holiday and Hammond eating his meals on credit. "It's philosophized Hammond. "Twenty years ago when Tonopah gambler belonged the Elks club. There millionaires in the club Anent Wingfield "George Wingfield the only who still has his George's 12 banks are closed." Ed Voelitti, finishing course international law at the University Ed's over visiting him. Voelitti's partner, for Ed the other Ed's on the Closing of the banks leftfor and order when some $15,000 in election bets cancelled. Betting only form of bling against the law in Unable due to their funds being on "holiday", the wagerers called off their agreements. Due to the tremendous amount of cash in circulation, Reno residents probably will pull through the period moratorium without sufferfor lack of money. MILD RUN ON BANK DEPOSITS BEGIN Nov. mild on the First National Bank. which started yesterday when Reno's other two banks closed for two weeks' period, ended today and depositors began opennew accounts. Most of the unrest which markannouncement of the banking holiday had settled and business returned to normal basis Fewpeople on the streets. who withdrew Many persons from the First National money yesterday made deposits today.

3. November 21, 1932 Nevada State Journal Reno, NV

Article from Nevada State Journal, November 21, 1932

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SPARKS SESSION FIRST AND WELLS TOMORROW McKee, Wingfield and Thatcher to Explain Consolidation Plans; Legislation Needed By GEORGE CRISSEY The first of series of mass meetings to educate Nevadans as to the advantage of reorganizing the Wingfield banks into one consolidated bank which, with branches, would serve the entire state, will be launched at Sparks tonight. A mass meeting of depositors of the Bank of Sparks will be held. It will be addressed by J. K. McKee, Reconstruction Finance Corporation expert; George Wingfield, head of the Wingfield banks; George B. Thatcher and others. The meeting will open at 7:30 m. in the auditorium of the Sparks high school. H. Gazin will open the conference and will call upon Thatcher to preside. The meeting will be open to the public and depositors are particularly urged to attend. Plan of Reopening Banks Through Creation Of Consolidated Institution Will Be Told The meeting is the forerunner of similar gatherings to be held in all communities where Wingfield banks are located. The meeting in Sparks will be followed by gathering of bank depositors of the Henderson Banking corporation in Elko Tuesday noon and of the Wells State Bank Tuesday night. The Winnemucca meeting is likely to be held Wednesday noon. Three meetings are likely in Reno, one for the depositors of the Reno National and the Bank of Nevada Savings & Trust company, another for the United Nevalda and the third for the Riverside Bank. However, the dates of the Reno meetings have not been set. In each instance depositors will be told of Nevada banking difficulties and of the way out, through the consolidated bank plan. Consolidation of 12 Banks Into One Strong Institution Is Basis of Reorganization Plan The plan, as explained to a committee of depositors which endorsed it, is simplicity itself. The 12 Wingfield banks, now on a holiday to permit reorganization, would be wiped out and their assets utilized in creating one strong bank with branches. A special session of the legislature, in addition to depositor consent, is necessary. If the depositrs agree to the change in banking, a special session will be called to legalize branch banking which, at present, is contrary to Nevada law. Reconstruction Finance Corporation Expert Gives Plan Unqualified Endorsement Local citizens today stressed the fact that the plan has the unqualified endorsement of McKee, who represents the Federal Reconstruction Finance Corporation. He, it was pointed out, is an outsider, and sees Nevada problems in the abstract. His decision, after prolonged investigation, is in favor of the plan. That, it was stréssed, is the view of a financial expert from the outside who has no direct interest in the state. The members of the depositors' committee which, on Saturday night, endorsed the consolidated bank plan, left for their various homes to arrange general meetings of depositors. In each instance, the committeemen will carry word of the plan back home, plan the meeting and advise Thatcher who will arrange for the mass meetings. McKee Leaves Tuesday for Washington, But LeRoy Will Remain Until Plan is Worked Out McKee is leaving Nevada Tuesday after the Wells called back due to for He was meeting Washington. pressure of business from other quarters. A. R. LeRoy, the other R. C. expert, will remain here, however, until the present situation is worked out. Details of the plan call for depositors waiving 40 per cent of their deposits, which would be given to them in stock in the consolidated bank: The remaining 60 per cent would be subject to a withdrawal restriction while assets of the bank, including slow loans, would go into a trust fund to secure the deposits transferred into stock. McKee heartily approved of the plan, saying he saw officials that view also. out. Bank expressed other way

4. December 10, 1932 The Great Falls Leader Great Falls, MT

Article from The Great Falls Leader, December 10, 1932

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TOBIN CALLED TO RENO TO BE BANK RECEIVER Manager for H. B. Lake & Co. Appointed to Important Job in Nevada Walter Tobin, since last June manager here Lake Co., securities and grain brokers the Ford building, left on the morning train at 11 o'clock today for Reno, Nev., to take the position of receiver for the Reno National bank. Mr. Tobin's appointment at Reno came in message from Washington yesterday afternoon, from the federal comptroller of banks. The Reno National bank, and considerable numof affiliated banks, were closed about two months ago. Yesterday the directors of the bank decided to go receivership and the from Washington to Mr. Tobin soon followed. Tobin had wide experience in the banking business before becoming affiliated the Lake company about three years ago, when Mr. Lake opened branch house Billings and him in charge. He remained the Billings six months when he came Great Falls as for the Lake company. The Reno National bank $5,and its closing months ago, with group of affiliated sensation. of the institution as very position. that Mr. Tobin's jurisdiction later extend also to the affiliated banks.

5. December 23, 1932 Nevada State Journal Reno, NV

Article from Nevada State Journal, December 23, 1932

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Contractor Sued By Oil Company The Shell Oil company of Nevada yesterday filed a complaint to administer trust, to reach equitable assets and for an injunction in its suit against A. D. Drumm, Jr., Fallon contractor, and A. D. Drumm, Jr., Incorporated. The suit is the outgrowth of an alleged gasoline and oil bill for $19,272.67. said to be owed to the oil company by Drumm. A. D. Druman. Jr., and A. D. Drumm, Jr., Inc., E. C. Peterson, state comptroller; A. L. Haight. trustee; George Wingfield, the Reno National Bank, F. G. Awalt, acting comptroller of currency of the United States; the Nevada Surety and Bonding company, W. J. Tobin, Reno National Bank receiver; the Standard Oil company of California, and numerous "Doe corporations" are named in the complaint. The Shell company seeks to enjoin the defendants from paying any money due Drumm, or Drumm, Inc. The complaint also seeks to have the defendants make a report of money due Drumm to the oil company; would have Drumm make a report of his assets; wants a new trustee named in the place of Haight, and seeks to have a receiver appointed to administer the assets of Drumm and the Drumm corporation. John Robb Clarke is attorney for the oil company.

6. December 29, 1932 The Billings Gazette Billings, MT

Article from The Billings Gazette, December 29, 1932

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W. J. TOBIN BECOMES RENO BANK RECEIVER Walter J. Tobin, former Billings resident, has taken over his duties as receiver of the Reno National bank at Reno, Nev. His appointment to the position was made because of his experience in banking work at Washington, D. C. While here, Mr. Tobin was manager of the H. B. Lake & Co. He left last summer for Great Falls to assoclated with the Great Falls branch of the same firm.

7. January 20, 1933 Reno Gazette-Journal Reno, NV

Article from Reno Gazette-Journal, January 20, 1933

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BANK INVESTIGATION ORDERED SENATE Is Scheduled to Assembly Act Resolution by on Heidtman on Monday CARSON, Nev., Jan. an investigation into the -Proposing bank situation in Nevada, the office bank examiner and the state Bonding and Surety Company, resolution introduced by Senator of Washoe county the senate today after adopted Heidtman had urged the Senator necessity of immediate action. Actin the assembly, however, was until the first of the week Cahlan of Clark had his motion after to refer the to the adopted and banking committee of banks which he the chairman. Heldtman resolution is the The second introduced at this session in calling for the bank insenate The Heidtman plan, vestigation. however. includes an inquiry into the bank examiner's office and the management of the Nevada Surety Assets of and Bonding would be exthe bonding company under the terms of the proamined posal. read in When the resolution this afternoon Malone assembly that be considof Washoe urged Cahlan moved to ered immediately. refer to his amend the motion to the committee, because, had not been printed resolution had opportunity to the membres no He said he had examine closely. desire, however, to delay the because he is in favor of vestigation the proposal. roll call vote on the There was no amendment. The Washoe Cahlan several other assemdelegation blymen voted against the delay. Adoption by the senate of the not without debate olution there were objections although voiced to an investigation. There was vote taken. the resolution record by vote. There being adopted no nays recorded. After the resolution read. SenBranson of White author another resolution calling for into the banking situainvestigation the Heidtman plan tion inquired displace his resolution. sought Heidtman that his resoluincluded investigation of the tion bank examiner's office and and Bonding ComNevada Surety pany. provisions not contained in the said he Branson proposal. inquiry into all believed sweeping angles of the necessary the adoption of the and he urged immediately that the resolution investigation may start once. Branson asserted that the investithe banking situation gation than any other more important matter. to know what became of want people's money and the causes the leading into the "There something behind Senator resolution,' he asserted. Heidtman's to make the bank we going of the situation? Are aminer goat to infer that the goveryou trying did not have full knowledge nor the situation. If you are going have an investigation have one of connected with it. every person there something wrong with bank examiner's office willing to believe there is something wrong with the governor's office probably was referring to the fact that the governor appoints the bank and chairman of the state banking board. Branson urged that the Heldtman resolution be sent to the committee on banks and banking which holds proposal and that the two resolutions be combined and then offered. Senator Scott of Lincoln said the Branson resolution did not refer all closed banks does the man plan and he said he believed that the would be hampered any angle of the inquiry limited. The resolution is as follows: "Senate concurrent resolution providing for an investigation of the banking situation in the state of Nevada, the handling and control an investigation of the state bank examiner's office and of the Nevada Bonding and Surety Company. on October 31, Lieutenant Griswold of the state of Nevada was notified by the management twelve banks of the state of Nevada that there financial condition was in precarious condition and, fearing run on said banks, requested that legal holiday be declared for banks and banking in the state of Nevada from November 1932 until November 15, 1932 and after thorough gation of the status in the state of Nevada and deeming advisable for the welfare and benefit of the depositors of said banks, Lieutenant Governor Griswold did declare banking holiday from November 1932. November 15, 1932. which was extended from time to time since No. vember 15, 1932, by Governor Balzar until the Reno National Bank and the National Bank were placed in the hands of national bank and the other banks placed in the hands of the bank examiner the state of Nevada and "Whereas, the said banks are still closed, causing untold misery and threatening financial structure state "Whereas, the depositors of the

8. January 26, 1933 Reno Gazette-Journal Reno, NV

Article from Reno Gazette-Journal, January 26, 1933

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BANK'S POSTS NOTICE CONDITION The Reno National Bank had assets and clusive capital stock, surplus and undivided profits of December when was taken over by the federal bank according to notice posted at the bank this morning. Cash on hand at that time, the port amounted to The other assets included bills receivable amounting to and other assets including the banking house amounted to It was explained by Tobin, federal receiver, that the assets listed included everything turned over to him including items that were considered lost and doubtful in the classification of the assets made by the bank officials when the banking holiday was declared. The unsecured liabilities. including the deposits, amounted to on December the report shows, while the secured deposits amounted to Bills payable amountto and were secured by pledge of assets of the bank aggregating $5,206,516.06.

9. February 18, 1933 Reno Gazette-Journal Reno, NV

Article from Reno Gazette-Journal, February 18, 1933

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Waiver Depositors' Details of Sets Forth Proposed CURRENCY SUBMITTED Plan Calls for Issuing Certificates Negotiable For Deferred Deposits Will Be Submitted Monday To Chairman of Banks' Depositors Committees The waiver form. which depositors national banks the Wingfield chain requested sign in the reorganization plan, printed in full herewaiver form prepared comptroller the currency the United for the Reno National based the plan submitted to the Finand the comptroloffice. According to the execucommittee depositors' committees. with possibly minor changes. must used national banks and one similar character will probably used state banks also. forth detail the waiver reorganization program. folWalver Subscription Agreement Depositor and/or Creditor the National The undersigned, depositor and/or creditor of the Reno National consideration execution like agreements of the other of said such bank same, and for the purfor of providing for the and other banks commonly the Wingfield Banks (Bank Wells Nevada: Henderson Banking Corporation, Nevada: First National Bank of WinWinnemucca, Churchill County Bank, Fallon, vada: Bank of Sparks, NeCarson Valley Bank, Carson City. Nevada; Virginia City Bank. Virginia Nevada: Banking Tonopah. the Reno Bank of Nevada Trust United vada Bank and Riverside Bank. all Nevada). hereby agrees folThat the assets each of said Wingfield banks shall separately appraised by five be appointed follows: One the the Reno National Bank, by the of the First National Bank of Winnemucca, one state bank examiner of Nevada, and two (2) others, lected by Victor Palmer, who acts for large corporations interested the reorganization the Wingfield banks. All assets of this and all the other Wingfield banks determined the appraisers be good and/or good shall sold, transferred assigned to mortgage company organized and incorporated to qualified borrower from the Reconstruction Finance Corporation other and which shall have capital of and surplus of $500,000. and which shall have charter right main bank with branches. The value of the shares the bank shall be The capital the company shall approximately but said capital may depending upon the amount assets transferred thereto under the appraisals and classificaThe par value the shares company shall be one appraisers herein provided for shall determine and the specific assets of the Wingfield banks which shall be placed "new bank" specific which shall placed the "mortgage" company. The assets placed in the bank mortgage company acquired from the receiver the pended bank shall equal the liabilisuspended bank absolutely assumed by the bank and/or mortgage company pursuant this agreement and like by other under the receiver entered the of said assets. 'ount assets placed and tained the bank shall be adjustment amount equal sum actually found necessary at the time compensate the new bank mortgage company for the total liabilities be and/or by The assets retained bank company taken face value adjustment interest to the of transfer where asset bearing, but where the asset interest bearing will taken either book value carried books of the suspended banks suspension the value fixed the appraisers such appraised value agreed upon by the bank, the receiver of suspended and approved comptroller the currency the United assets the National deemed by the shall praisers transferred bank mortgage but the new bank pany will transfer items company called trust fund) three trustees pointed judge the United States district court for the district of Nevada. Said trust fund shall held trust shall be distributed time by trustees to the and contributing aforesaid portion claims. The trustees shall make charge for their services but shall entitled deduct from proceeds liquidation the actual necessary cost carrying together with necessary cost collections, court costs and the the said trustees the held compromise them. renew extend tions of debtors said trust, and file foreclose mortgages, property closure the benefit trust and take all they their judgment steps for the liquidation said assets sale the same and way deal the same fully every though assets were fully by said liquidating trustees their right. Said trustees have the power and the expense the trust estate make such penditures and disbursements out of the trust estate may be necessary the the assets thereof. The undersigned depositor creditor consents, that company may pointed trustee lieu of three trustees hereinabove provided for with same powers, duties and obligations The undersigned and each creditor participate in said trust fund receive tificate representing his her terest trusteed assets. Said trust fund shall be exclusively the benefit the depositors and creditors the Reno National Bank, but and when said depositors paid in full, together with interest the rate of four per cent per annum from 1932. then balance shall be distributed the stockholders of the Reno National Bank their interests may appear. Whenever and/or the mortgage company and the trust fund each interested in any asset line of credit. the new bank and/or mortgage company shall have first upon any, accomasset credit, and shall to out said asset line credit security therefor. the full amount interest before any part thereof shall recovered by said trustees. The bank and/or mortgage company for period one year from and after the organization of the bank shall have the right any of assets retained the mortgage company (or thereof renewal made) for the trusteed assets the ceeds liquidation of same, said change upon the basis purchase price with mutual justment of interest to the date exchange sustitution. any after the expiration period exchange substitution the trustee trustees shall, upon written quest owners of majority in amount participation certificates sell the public the highest bidder cash after having given such notice of time and place said may required the creditsale, and said trustee trustees shall thereupon make final disposition the proceeds said trusteed assets hand manner for the purposes hereinabove provided. At such the new bank mortgage pany may purchaser all any part of said residue of the trusteed assets. During the entire period while said process liquidation by liquidating trustee representative committee three positors their shall conferred with from time time cerning liquidation and shall have full to the books and records of said trust. said trustee trustees shall exercise their powers jointly, but majority three trustees appointed, shall control, the event vacancy the powers duties thereof may performed the members. majority interest the creditholding participation certificates said trust may elect trustees any time upon thirty days' written notice such depositor and creditor holding ticipation certificates. the depositors' committee representatives depositors' committee said suspended bank are granted the power and authority and shall, when said bank mortgage has organized provided this agreement, transfer bank and/or mortgage the company undersigned's claim against the suspended bank enable bank mortgage company the part purchasing and acquiring the said pended bank from the receiver. Said committee or the new bank and/or mortgage successor interest authorassignee the claim in to the receiver of said suspendthe in the bank and/or and said committee or said company bank and/or mortgage company authorized release, cancel and certificate receiver consideration for the acquisition by the purchase bank mortgage company said suspended bank, and cancelcertificate said receiver the comptroller of shall and fully released from all claims of the undersigned to any participation bank delivery assets said suspended bank said bank operate lieu of first and dividend said receiver to the and full payment suspended bank This agreement not be constitute waiver liability any holders Reno National Bank but such stockholders' liability shall collected by the receiver and shall be included the assets sold to the bank The value of the assets of the Reno Bank termined by the appraisals to be good good but shall be basis credit depositor creditor new bank mortgage company, each depositor creditor shall entitled to that proportion of said net his deposit credit bear to the total the good good assets the Reno National The undersigned, from his said net credit, panyable only therefrom. hereby subsc bes thereof the capital stock of the company and thereof to the capital and/or capital and surplus the bank. understood and agreed that the entire capital the company shall be vested bank. each subscribed the capital stock the mortgage pany shall receive participation tificate which shall represent terest the of the company after all obligations and liabilities shall have been paid. The assets of the Wingfield banks have been tentatively appraised, and under this plan agreement in accordance with appraisal, the following distribution assets the respective made up of the trust fund, (2) the subscription capital the company, subscription the capital and surplus of the deposits in the will be approximately folusing deposit for the illustration: made available in individual subject check. my bank will the right lease and all of the installments any above outlined before maturity thereof, provided that deposit released made availdeposits installments, including said deposit, the certificates deposit corresponding thereshall thereupon become due and available situated, that any maturity thereof, notice of that fact be furnished further understood and agreed that said Wingfield banks through bank and mortgage company accomplished, that said bank said shall each company board directors consisting sixteen (16) members, and the corporation more deferred posit said bank shall have to select designate three members the board directors for the company. Twelve of the remaining directors the said new bank company the positors' each the Wingfield each of the Wingfield banks shall have one (1) director, and the directors selected named the original articles incorporation. (1) director shall be the president of the bank. the depositors' fail select the judge the before whom said pending shall designate such director directors. 10. Banks which are depositors Reno National Bank any Wingfield join in this like agreement, provided, however, the banks joining in or like agreement shall not subscribers the stock either the bank the but bank's credit shall payable in equal installments provided by paragraph hereof. further agreed that this agreement, and similar agreements depositors the other Wingfield banks, shall apply all public funds or the Nevada said state, that in order to carry this agreement into force effect will necessary that proper legislative action taken which place such public deposits upon equality with individual depositors and This can done through legislaauthority through chinery the act entitled for the compromise, adjustment release debtedness, liability obligation corporation, association, Nevada" and amendments thereto adopted the present legislature, broadening the scope said act to include states, towns and other departments. This agreement shall be unless shall be carried full force and effect within sixty (60) after March and said

10. March 14, 1933 Reno Gazette-Journal Reno, NV

Article from Reno Gazette-Journal, March 14, 1933

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BANK RECEIVER Andrew Drumm. prominent Fallon named defendant yesterday in suit brought federal court Walter receiver for the Reno National Bank in Reno. The Reno National holds $50,000 demand note signed by Drumm on March 31, 1932, on which payments have been made. alleged. The note secured by trucks and other highway equipment valued. according to the complaint. more half of the debt. Tobin asks the appointment of ceiver pending the final decree in the controversy and the sale of the property. This the first suit filed by the receiver the Reno National Bank since took charge of the institution which closed doors last Oc-

11. March 21, 1933 Reno Gazette-Journal Reno, NV

Article from Reno Gazette-Journal, March 21, 1933

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FILED DOUGLASS SALES SHOW BIG RECOVER RECEIVER FOR DROP HERE NOTE Licenses for only 4971 pleasure cars had been issued by the county sessor's office up to noon though the deadline for purchase the 1933 numeral plates was reached twenty-one days ago. At this time last year some 6100 plates had been issued in Washoe county. Motorists have been particularly slow in getting their plates this year, according to Frank Campbell, county assessor, who attributed their laxness in large part prevailing financial Campbell said he had noticed that persons who many hitherto had maintained as many two and even three cars have this year purchased licenses for only single car, indicating that they have either stored or of their disposed "extra" In accordance with instructions from the secretary of state, who charge of the motor vehicle department, Campbell has not been imposing the usual three-dollar fine for late registration. Whether this fine will be imposed later if license purchases fail to pick up he did not say, but he did call attention to the fact that the state police are "tagging" motorists whose still cars bear the old black and orange 1932 plates. Douglass of Fallon today appointed receiver Andrew Drumm, Inc., prominent highway contracting firm located Fallon. Receivership of the concern had been asked by Walter Tobin, receiver of the Reno National Bank. The bank holds demand note issued in March, 1931, on which no payments have been made, asserted. John Mueller of Reno, suggested by M. Diskin, attorney for the bank, receiver, was objected to by Drumm. Douglass nominated by Drumm. An order to show cause why the receiver should not enter into full control of the property set for April

12. March 21, 1933 Reno Gazette-Journal Reno, NV

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suit growing out of the closure the Reno National Bank, was filed in the district court today, with Slutter seeking to gain possession of $17,000 promissory note he alleges the bank and W. its ceiver, refuse turn over to him. James Boyd Slutter. The note, signed by and Lena Juniper, deposited in the bank in 1929 by Slutter. brother of the plaintiff, to whom was later assigned. "The note deposited the complaint reads, the sole purpose of the bank receiving the payments due that they might be deposited to Slutter's credit." Slutter alleges that both Tobin and the bank assume any responsibility for delivery note to him, and adds that could he gain possession of the note Mr. and Mrs. Juniper would pay balance $7500 still due He asks for the court either to order the bank to turn the note over to him or for an award of $7500 damages plus court costs and interest from November 23, 1932.

13. September 2, 1933 The Spokesman-Review Spokane, WA

Article from The Spokesman-Review, September 2, 1933

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U. BANK RECEIVER JAILED Refused to Give Information to Help CARSON CITY Nev., Sept. national receiver charge the Reno National bank cited court today refusing to sidered proposed reorganize and other banks the Wingfield group. Tobin was five days jail fined $10 Judge Clark Guild, who advised attorneys for receiver, "Tobin going to testify will know the reason writ habeas corpus sworn in the federal district court sentence could carried was returnable before Judge Frank H. Noreross later today.

14. September 2, 1933 The Spokesman-Review Spokane, WA

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BANK RECEIVER JAILED Refused to Give Information to Help Reorganization. CARSON Nev. Sept Tobin, national receiver charge the Reno National bank, contempt court today for refusing testimony considered proposed other banks the Wingfield group Tobin was jail fined $10 Judge Clark advised attorneys for the receiver "Tobin going testify will know reason why habeas corpus sworn in the federal fore sentence could carried out, was Frank H. Norcross later today.

15. September 6, 1933 The Sacramento Bee Sacramento, CA

Article from The Sacramento Bee, September 6, 1933

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TOBIN OBTAINS NEVADA WRIT TO KEEP ECORDS Outcome Of Action Affects Decision In Bank Reorganization CARSON CITY (Nev.) Sept. restraining order was issued the federal district here yesterday enjoining incourt troduction of national bank records state court hearing on plan reorganize eleven closed banks in Nevada. The Friday, at which time Judge Frank H. will determine whether shall be made Hearings Halted. Issuance of the order brought to halt hearings on the proposed plan, whereby the organization eleven banks, including two nationbe consolidated and reopened under depositor controlled Judge Norcross had held the action of Judge Clark Guild in finding W. Tobin. National Bank guilty contempt for give certain testimony the state court hearing. and had habeas corcommenced Tobin. Of Much Concern. No sooner Tobin returned to the stand in state court again asked disclose information he considered confidential, his attorneys obtained the temporary restraining How the matter will finally be settled matter much conGuild has said, in effect. that not pass on the plan until facts are placed before him disclosing the condition both Reno National the First National Bank of Winne-

16. September 14, 1933 Reno Gazette-Journal Reno, NV

Article from Reno Gazette-Journal, September 14, 1933

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FORMAL OBJECTION ACCEPTANCE PROPOSAL MADE Banker Transferred Home And Other Is Property Charge of Depositors Federal Court to Take Up Petition Saturday; Later Date May Set formal protest against acceptance by the United States district court Nevada the offer settlement made George Wingfield. president director the Reno National and the ground that he has upon forth full statement of his assets that certain alleged transfers property were made by him prior to the bank being closed, was filed in that court The test entered the names Newman, Hall and man, all of who are depositors in and of the Reno National, according to the complaint, total sum of than $20,000. The plaint says they represent not only themselves in the action but other depositors who time, signify their willingness" to join the protest. In the offer of settlement recently made by Wingfield offered to liver the the Reno tional Bank and the First National notes and and equity in tain ranching properties in Churchill and Washoe worth. more than upon the condition that would relieved all his stockholder's director's liability to the two banks named. His stockholder's the Reno tional amounts to and the case of the First National presenting the offer to the court Tobin of the Reno National and Streeter the First National of Winnemucca that accepted, saying it appeared to them that if Mr. Wingfield were required go through bankruptcy the depositors the bank could not make greater might make less covery. In objecting acceptance of the protesting depositors allege that their belief that the financial statement rendered to the court Mr. Wingfield does not contain complete statement holdings, and furthermore, that prior the closing of the Reno National Bank, he made various transfers

17. September 19, 1933 Oakland Tribune Oakland, CA

Article from Oakland Tribune, September 19, 1933

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Nevada Bank Chain Reopening Sought RENO Tobin. Reno National Bank Barry Tobin's route Wash ington by confer comptroller currency of the closed The plan. drawn by the banks the national banks in the chain can program nine State banks closed tober 1932

18. January 27, 1934 The Sacramento Bee Sacramento, CA

Article from The Sacramento Bee, January 27, 1934

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CHARGES FORCE NEW ACTION IS RESIGNATIONS FILED IN RENO OFPETALUMANS BANK LAWSUIT Mayor, Two Councilmen And State Superintendent Charges City Attorney Quit Illegal Transfer Of Under Attacks Securities PETALUMA (Sonoma Co.), Jan. climax charges citizens committee, Mayor liam two members of the city council and the city attorney resigned here, counmember he will resign on February Councilmen George Van Bebber and Ludwig Schluckebier, who with Mayor Farrell are accused by the citizens committee of selling merchandise through their private businesses to the city, submitted their resignations special meeting the council Councilman Chris Riewertz announced he officially give his post at the next regular ing the council protest against the action of the citizens City Attorney Louis H. Cromwell submitted his resignation. RENO (Nev.). suit seeking return of assets of one of the closed Wingfield banks was filed here late yesterday by E. Seaborn, state bank superintendent. against the Reno National Bank, its W. and the Crocker First National Bank of San Francisco. The suit demands return to the Bank of Nevada Savings and Trust Company of assets valued at $931,allegedly transferred illegally from the savings bank to the Reno National and then used by the latter as collateral for loan from the Reconstruction Finance Corporation. Preference Is Sought. A request is made in the complaint that if the assets cannot be returned that the Bank of Nevada be made preferred creditor. The directors the two banks identical, asserted that the Crocker bank officials took charge the Spring of 1932 of all the Wingfield banks and were the transfer assets made that Crocker bank loans could secured. The Crocker bank paid off before the closing the Wingfield Later when additional RFC loans were made, is asserted, the Reno National did not have security and used the Bank of Nevada assets as collateral.

19. January 27, 1934 Nevada State Journal Reno, NV

Article from Nevada State Journal, January 27, 1934

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RETURN OF SECURITIES IS SOUGHT Crocker, Tobin, Named Defendants In Action Bank Superintendent E. born yesterday filed suit against Tobin, Reno National Bank ceiver: the C. and the Crocker National Bank for the return of assets held by them to the Bank of Nevada Savings Trust company. Harwood & Diskin, Seaborn's tornies, filed the suit in the Washoe district court, demanding that 664.42 of the Bank of Nevada Savings Trust company's assets, now held by the Reno National receiver and the be returned to the savings bank. Asks Preference The complaint asks, the return of the savings bank's assets can not that the court declare the Bank of Nevada's claim and entitled to in priority payment out of the assets of the Reno ional. Seaborn took over the affairs the Bank of Nevada Savings Trust December company after the bank holiday was claimed November 1932. According to the complaint, the Bank Nevada had deposit National Bank in April, 1932 the same time the Reno National Bank owed $826,425 to the Crocker First National Bank and indebted to the Federal Reserve Bank $133,500. The amount owed to the Federal serve Bank was secured. Crocker Management Sometime prior to April, 1932, the cashier and assistant cashier of the Crocker bank were invited by officers or an officer of the Reno tional Bank and Bank of Nevada Savings Trust company to manage the business of the Reno National and the savings bank, the complaint asserts. The officers and directors of the Reno National and the Bank of vada were identical, was stated. The Crocker bank officials rected the management of the Reno National and the savings bank from a date prior to April, 1932, to September 1932, the complaint alleges. Charges No Authority The placing of Crocker officers over the affairs of the two Reno banks was done without the authority of the board of directors of the Reno banks, Seaborn charges. The taking the powers of the board of directors of the Reno banks illegal, it was asserted. Beginning with the month of April, 1932, many depositors of the Reno National Bank were withdrawing their deposits and the Crocker First National Bank was insistent on payment of the debt due by the Reno National. The available sets of the Reno National, due existing economic conditions, were frozen, it was claimed. Loans The Crocker officials assertedly in charge of the Reno banks caused the officers of the Reno National to apply to the for loans and pledged as security for payment of the loans paper and securities delivered to the Reno National by the Bank of Nevada. Seaborn alleges. At the time the Crocker officials purportedly took charge of the Reno National and Bank of Nevada, the owed by the Reno Natmoney ional was not secured. When the Crocker officials legedly took over management of the two banks, they obtained ity for their loans. Crocker Paid Off The borrowing from the was begun and continued to pay off the large sums of money owed by the Reno National to the Crocker institution, the complaint states. Some of the money went to meet the demands of the depositors of the Reno National. In April, 1932, acting under the instructions from the Crocker officials, an application was made to the for loan which was (Continued Page

20. February 24, 1934 The Sacramento Bee Sacramento, CA

Article from The Sacramento Bee, February 24, 1934

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ROOSEVELT IS ASKED TO OPEN NEVADA BANK PROBE Reno National Depositors Appeal To President Against Wingfield Dominance WHITEWASH CHARGED TO FEDERAL OFFICIALS Numerous Violations Of Bank. ing Laws Are Cited In Sensational Letter RENO (Nev.), Feb. bristling with sensational charges, Barnard, Reno realrepresenting several thousand depositors of the closed Wingfield chain of banks, to-day direct appeal to President Franklin Roosevelt federal investigation the affairs of the Reno National Bank, of the chain. Citing more than dozen leged violations the federal and banking by officers directors of this institution, Barnard's It believed that investigation by the department justice will innumerable violations gross Irregularities. Under Wingfield's Thumb. The letter the belief that Walter Tobin, receiver for the bank, is under the complete domination the Wingfield clique that H. H. Atkinson, the United States District Attorney in Reno, is indebted to George Wingfield, political Nevada, such extent that he cannot act "Both declares the letter, "have given officials complete Influence Of Politics. The belief also that help be expected from secretary the treasury Washington, C., because of political In this connection the president's attention called to the fact George Thatcher and William Woodburn are the litical bosses of Thatcher being Thatcher and same Given Protection. "The this state feel they little or protection from the federal straightening out the tangled In this communication concludes. "They are Mr. urgent help. You must not fail Atkinson is charged with having used his with the federal prevent Tobin declared have permitted the statute to against mining securowned by Wingfield which attached securIty Wingfield's bank liability charged also while Wingfield owes $352,100 his liability tempt has been made to collect Allegations Thirteen allegations are up the letter that Wingfieldthe state them to with These The Reno National Bank September 1932, falsely in its the of $303,818 the house Bank of Nevada Savings and Comthree months The of $700,000 John Taylor, directhe institution This loan alone the entire capital stock Wingfield Favored. The loans $137,204 on Nevada Stock Farms, Nevada stock owned by Through directorates National Bank looted the Savings and Trust pledged the RFC for the paid the Crocker First Bank The bank continued to operate months after its officers and banking examiner knew was Other Banks Looted Other the Wingfield the Reno National running the split system ployed the instituthe expense of the other Loans exceeding or three the State the Wingfield control the paper. Woodburn and other officers the bank made withdrawals from either directly indirectly At the bank suspended Transfers Shown. Wingfield and Woodburn both transferred real estate relatives deeds gift prior to the closing the bank. False and fraudulent statements, and credits, published Reno National Bank Nevada Savings prior closing. Copies were sent the justice and United States Senators Costigan, McAdoo and Johnson.

21. March 2, 1934 The Sacramento Bee Sacramento, CA

Article from The Sacramento Bee, March 2, 1934

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COURT REJECTS LIABILITY OFFER BY WINGFIELD Federal Court Says Com. promise Proffer In Present Form Is Unfair (Continued From Page One) $50,000 on deposit in the twp national Tobin Urges Acceptance The value the property offered was given Tobin. receiver the Reno National Bank, when he took stand yesterday, and Tobin offer should accepted. that Wingfield hopelessly Replying questions from said he requested Wingfield shares of Goldfield solidated mining together other free assets, but that Wingfield had declined. Asked Wingfield later the Crock Bank of San Francisco Tobin informed him, Tobin testified felt not turn mining stock he had creditors wanted nucleus rehabilitate his nances. Wingfield Never Sued. Tobin explained he had brought against Wingfield, though he had against others, cause secured cluding bank, bring Wingfield was forced into that liability would be offer He testimony length value ranches which Wingfield offered to turn over to the receivTobin that it was his get the greatest for the and but could shown the Wingfield offer was the obtainable that he would be glad to use any other means get Great Liability. the bank and Riverside bank the Crocker holds Goldfield Reno Securities, which owns Riverside Golden Hotels Reno, certificate of Bank Elko valued $100,000. Tobin said he had tried in every action, Wingfield's equities securities pledged the Crocker Wingfield Takes Stand. Wingfield, the stand, he had no assets other than those shown the financial statement of made by the bank receivhis compromise 80 and per his free He nied deeded his home to time deposits shrinking banks. said the deeding home had nothing to with the banking situation 1931.

22. March 10, 1934 Nevada State Journal Reno, NV

Article from Nevada State Journal, March 10, 1934

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By WASHOE PETE Good morning! Are there, you Jonesy? We mean Thomas Jones, William Jones, Stanford Jones, Jones, Philip S. Jones, Lionel Jones, Joe Jones, John Jones, January Jones, James Jones, Harry Jones, Harold Jones, Gus Jones, Frank Jones, Enos H. Jones, David W. Jones, Charles M. Jones, Charles Jones, Dorrance Jones, Benjamin Jones, Rev. Bayard H. Jones, Arthur E. Jones Mrs Evelyn Jonasson (rear, 412 University avenue). GOOD Now comes one Walter Tobin, Reno National Bank receiver, who deposes and swears to help all newspaper reporters the rest of his life. He's such comfort to Out looking for untoward incidents, staggered through the doors of the Reno National to find out if the bank building had been leased by if Receiver Tobin had sold any more sheep. (In case you hadn't heard. bank receivers are always from counting sheep. said the america hasn't leased the and haven't any more eewees." (Eewees, we figgered. are playful "Nope," continued the receiver, No news good news. Why don't you run big banner line across the top of the front page of The Journal in the morning saying: News Good we agreed, but couldn't convince the boss that everybody would preciate it. OOPSCAY! comes the village Riley Palma tell dolorous tale of sheeplope had seven. They all died. The last one drowned in watering trough. Sheeplope occurred at the Palma ranch at Eureka when an eewee eloped with an antelope was the only case of its kind Riley and many biologists ever heard came to no good end, these half-sheep, critters. The last one died a year ago, but figgered you hadn't heard about had forgotten about it, what? BANK DEPARTMENT Mark Bradshaw says the local boys Tonopah, headed by John Connolly, are talking about starting a bank of their own. Ten of them are about digging up $5000 aplece for VISITORS Mrs. E. Dyer and Mrs. E. Stauffer, Winnemucca; and Mrs. Riley Palma and Mr. and Mrs. Henry Palma, Eureka; Mr. Mark Bradshaw, Tonopah; Jenkins, Johnstonville. Cal: Mrs. Delaney, Eureka; W. Barlow and son, Goldfield. and Mrs. Nicholson, Portola; Ward, Otto and K. Douglas, Beatty; Short and family, and Mrs. Wilson, Lovelock; Mrs. Cash and Mrs. Mina Frink, Jaines Burton, John Sturgeon, Bridgeport; Lawrence Hill, Susanville, and Leland Pierce, Winnemucca. From Smithy of Virginia City, hear that the Old Virginia Kitchen open again under the management of Mr. and Mrs. Moore. There are 106 licensed liquor tablishments of assorted kinds in Reno. Frank Ingram looking for suite offices for the NRA. Whoaaaaaa! It's moving time in apartments. But the rent ain't due for three weeks "A Reader." who is the world's most prolific author, next to Anonread about law in souri compelling motorists to turn their lights one-half hour fore sunset and to keep them on hour after sunrise. believes that the Reno city council should adopt similar ordinance safeguard accidents which from not turning their (Continued on Page Two)

23. May 7, 1934 The Sacramento Bee Sacramento, CA

Article from The Sacramento Bee, May 7, 1934

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DEPOSITORS ASK OUSTER OF RENO BANK RECEIVER Letter Demanding Removal Of Walter J. Tobin Sent To Comptroller PLEA CHARGES COLLUSION WITH WINGFIELD GROUP T. Connor Is Told He Has Made No Effort To Liquidate (McClatchy Newspapers Service) WASHINGTON (D. May The removal of Walter Tobin, ceiver of the Reno National Bank in Reno, one of the closed Wingfield chain, demanded the Depositors Protective Associathe Closed Wingfield Banks letter received to-day O'Connor, comptroller of curappointed receiver Decem1932, characterized the letter having been effect, simply the tool of the Wingfield Collusion Is Charged. It charges with Incompecollusion with George Wingfield, Nevada political lieutenants, failure protect the the In the administration of the bank's The letter, document setting the specific charges against Tobin great was signed by Barnard, secretary the Mr. since taking charge of the bank, has been continually wined dined members of the Wingfield official family," the "Mr. Tobin into the Hotel. most hotel In the state, and by Mr. Wingfield, through corporahas residence there. charge him with collusion with Wingfield and his legal associates ask his immediate removal. Serious Charges Made. Tobin charged with having effort liquidate the period of fourteen months after he but the outcome Other charges include the follow- Failure to bring suit against the Crocker National Bank San Francisco for the recovery other assets the association claims withdrawn illegally Wingfield from the Reno institu- Failure to attach the properties the Stock field for loan 000,000, which the deems excessive illegal Collusion William Wooddirector of the bank, whereby satisfied his stockholders liability with on property failure bring suit to collect Paper Deal Is Cited. enforce payment of the Journal pany, publishers of Reno paper, which the association charges made give Wing field political control the editorial policies of the in connection with this that Tobin this money the election this year order the endorsers and Wingfield full control of the editorial policies of the paper.' Tobin further charged with Failure to George Wingfield for the property to Mrs. Wingfield prior the Wingfield banks the Fall 1932. Failure the department justice certificates posit the funds and assets the Savings Trust Company Reno National Bank were "fraudulent and illegal." Claims Wingfield Is Favored. Failure bring suit against Wingfield for the payment of his liability stockholder the Reno of pending comby the Nevada litical rejected United States District court. The alleges Tobin entered into collusion with field this matter. Failure prevent Wingfield from $100,000 worth (Continued on Page Column 3)