14608. Riverside Bank (Reno, NV)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
November 1, 1932
Location
Reno, Nevada (39.530, -119.814)

Metadata

Model
gpt-5-mini
Short Digest
850688a0

Response Measures

None

Description

Riverside Bank was one of the Wingfield state banks that did not open after Nevada's statewide bank holiday in November 1932 and was later placed in receivership (Feb 1934). Articles describe reorganization plans and depositor waivers, but the bank remained closed and a receiver was appointed, indicating permanent closure rather than a temporary run-driven suspension.

Events (4)
1. November 1, 1932 Suspension
Cause
Government Action
Cause Details
Did not open after Nevada's statewide bank holiday (Nov 1932) amid Wingfield chain difficulties; banks remained closed thereafter.
Newspaper Excerpt
The banks failed to open their doors after Nevada's first statewide bank holiday in November, 1932.
Source
newspapers
2. November 21, 1932 Other
Newspaper Excerpt
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.
Source
newspapers
3. March 2, 1933 Other
Newspaper Excerpt
Waiver and Subscription Agreement Depositor Creditor of the Riverside Bank: The undersigned, depositor and/or creditor of the Riverside Bank, suspended, ... Dated 1933.
Source
newspapers
4. February 28, 1934 Receivership
Newspaper Excerpt
Leo F. Schmidt ... was appointed receiver for seven closed state banks in Nevada. The institutions ... are the Bank Nevada Savings and Trust company, the United Nevada bank and the Riverside bank, all of Reno.
Source
newspapers

Newspaper Articles (12)
1. 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

2. February 18, 1933 Reno Gazette-Journal Reno, NV
Article from Reno Gazette-Journal, February 18, 1933

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CROCKER PLAYED BANK CLAIM (Continued from One) anything." He referred to the Riverside Bank. right did Crocker have to insist this be did insist, though?" Earlier his testimony Frisch told the dividends by the Riverpaid Bank and this apparent stability that bank that caused committee to determine the loan from the necessity. Frisch said the off its loan paid the and that the securities pledged, which were double value the turned were in the Riverside's possession. Frisch the committee that spite Riverside funds deposit the Reno tional he believed with the every Riverside positor paid in full. He plained that the work of receiver its affairs. He said the Riverside could continued going with replacement patred capital, without money placed the Reno National. COMPANY The affairs of the Nevada Surety Bonding were ing Diskin's examination, with explaining he had conducted examination into the back the company in 1929. He they considered in good shape then. He revealed there had been some fear while official that they might be too many one basket" eggs the handle all state bonding There nothing to indicate then that company not financially sound, said. The value the Sutter Butte bonds and stock which form large part of assets the bondFrisch he had been informed by San Francisco brokers the stock had market value that he had listed of the bonds being worth only $4000. Jerry Sheehan, general manager of Wingfield banks, asked by committee during the afternoon hearing about the activities of Willis the affairs the Wingfield banks. came Sheehan said, told me that Wingfield had placed the stock in their them. to Wingfield he had given them free RAISE MONEY Willis did everything help raise meet declining Sheehan said. much that loan did Crocker Sheehan asked. million eight hundred thoudollars." the purpose of this loan to and no. We money from Crocker with the be paid back with the loan one million dolwhich Mills (secretary of the treasury) stipulated was to meet dwindling deposits." the purpose of Willis behere money for Crocker?" thought to help field." served to make the Crocker bank preferred creditor, Cahlan asked. looked that way after we closed." CALLED Sheehan described efforts of the bank officials to straighten out the affairs the Wingfield chain the chief bank aminer been going the situation the requestof the bank. found no our system of doing business,' Sheehan deal of Sheehan's testimony afternoon had to do with loans the banks he spent considertime explaining items pointed him the call statements the banks. Sheehan asserted that the certificate of deposit due to the Bank Nevada held by the HenderBank of Elko and Reno National witnesses had that such deposits had been considered "cash hand" number years. The former bank examiner, late True Vencill, who succeeded Seaborn, the present examiner, the syssaid, although he said had objected to

3. March 2, 1933 Reno Gazette-Journal Reno, NV
Article from Reno Gazette-Journal, March 2, 1933

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Waiver Form Bank Depositors' State Banks Is For Complete READY MAIL THEM WITHIN FEW DAYS Coast Situation Is Not by Eccles to Expected Change Plans National Bank Waiver Sent to Comptroller of Currency for Review The waiver which will mailed within few days the positors state banks in the Wingfield chain completed today executive committee of the general depositors committee. The complete text of the waiver form for the Riverside bank printherewith. The same form used for all the state banks in the The waiver form for the two national banks very similar but not be ready for publication or mailing until in princiby comptroller of the currency furnished copies. chairman of the the stated today that the banking holiday in California would effect on the reorganization plans for the Wingfield banks as far could see as agreement with the California corporations to deposit $500,000 in the proposed new bank deferred deposit gentlemen' agreement which the California positors carry out. Eccles also said the promised by the Finance Corporation be forthcoming the reorganizaprogram out. waiver form in full fol- Waiver and Subscription Agreement Depositor Creditor of the Riverside Bank: The undersigned, depositor and/or creditor of the Riverside Bank. suspended, in consideration of now the execution of like agreements by such depositors of said bank may the and for and for the purof providing for the pose tion of said bank and other banks commonly known as the Wingfield Banks (Bank Wells, Wells Banking Nevada: First National Bank of Winnemucca, Winnemucca, Churchill County Bank, Fallon. NeBank of Sparks, NeCarson Valley Carson Virginia City VirNevada: Tonopah Banking Corporation, Tonopah, Nevada: the Reno National Bank of Nevada Savings Trust United Nevada Bank and Riverside all of Reno, Nevada) does hereby sell. transfer, convey and set over unto the executive hereinafter named, its claim against pended in trust for uses and purposes set forth and hereby agrees as follows: That the assets of each of said Wingfield banks shall be separately (6) appraisers shall be appointed follows: One the receiver of the Reno National one by the receiver of the First National Bank Winnemucca, one the examiner and two (2) others. be lected by Victor Palmer, who acts for certain large corporations interested the reorganization of the Wingfield banks and one to be lected by chairman of the respective committees of the present closed banks. All assets of this and all of the Wingfield banks determined by appraisers to be good and/or good shall sold, transferred and assigned to mortgage company organized and incorporated as to qualified borrower from the Reconstruction Finance Corporation other governmental loan associations or and new which shall have capital of and surplus of and which shall have charter and the right to opmain bank with branches. The value of the shares of the par shall $25. The capital the mortgage company shall approximately but said capital may vary, depending upon the amount assets transferred thereto under the appraisals and classifications. The value of the shares par the mortgage company shall be one dollar each. The appraisers herein provided for shall determine and fix the specific the Wingfield banks which shall be placed in the bank" and the specific assets which shall be placed in the "mortgage" company. The assets so placed in the new bank and/or mortgage company and acquired from the state bank examiner in charge of the suspended bank equal the liabilities of the bank absolutely assumed paid by the bank company pursuant to this agreement and under like agreements executed by other creditors. under such contract with the state bank examiner shall entered into in the acquisition of said assets. Said amount of assets so placed and retained in the new bank shall be subject adjustment amount actually found to the time of bank compensate for the total liamortgage company bilities paid The assets retained by the new bank or mortgage company are to taken over at face value with adjustment interest to the date of fer when the interest but any ing may be taken over at the value fixed by the appraisers such agreed upon the bank and the state bank aminer. All assets of the Riverside Bank which deemed by apdoubtful shall sold, transferred assigned the new bank company but the bank company will transfer all of items (hereinafter called the trust fund) three liquidating trustees pointed the judge the district court the district of Nevada having jurisdiction thereof. Said trustees must depositors. Said trust fund shall be held in trust shall be distributed rata from time to time by said trustees the creditors waiving and contributing aforesaid portion claims. trustees shall make no charge services but shall be entitled deduct from the proceeds liquidation the and necessary of carrying said trust. together the cost fees, court costs and the and the said trustees the right sell compromise obligations held them. renew extend the tions of debtors said and file suits, mortgages, chase foreclosed property closure the trust estate, take all such steps as they their judgment deem necessary for the liquidation of said assets by collection compromise the and way the same fully though said assets were fully ed by said liquidating trustees their right Said have the expense the trust estate make such penditures and out the trust estate may be necessary for the and the thereof and for such purpose may borrow and pledge all or part the trust assets security therefor. The undersigned and each creditor entitled participate in said trust fund shall receive participation tificate representing his or her terest in the trust assets. Said trust fund shall be exclusively for the benefit of the depositors and creditors of the Riverside Bank, when said paid in the amounts of their original claims against said closed together with interest the rate four per cent per annum from November 1932, balance shall be distributed stockholders of the Riverside Bank or their successors in interest. their may appear. Whenever the new bank and/or the mortgage company the trust fund are each interested asset line of credit, the new bank shall have first upon the security any, accompanying asset of credit, the company have the second thereon and such order shall be entitled to receive out of said asset line of credit the security therefor the full amount of their respective interests therein before part thereof shall be covered by said The new bank mortgage company for period from after the the shall right to substitute any the liquidated assets retained in the new bank mortgage company renewals thereof. in whole or in when renewal made) for any of the trust assets or the proceeds liquidation of said exchange to limited to bills receivable and to upon the basis original mutual of price terest to the date of exchange that such exchange shall only be made between assets origin(at time of transfer) from the examiner charge of the Riverside Bank. distribution shall be made by the trustees until after the expiration of said period of substitution. At any time after the expiration said exchange substituperiod tion the liquidating trustee or trustees upon the written quest of the owners majority amount of said participation certificates sell remaining trust sets public sale to the highest bidder for cash after having given such of time and place said may be required the creditors requesting and trustee or trustees shall thereupon make final disposition of the proceeds of said trust assets then on hand the and for the purposes hereinabove provided. At such sale the new mortgage company may be purchaser of all or any part of said residue of the trust assets. During the entire period while said assets are process liquidation trustee committee three positors their shall conferred from time to time concerning such liquidation and shall have full access to the books and records said understood that trustee trustees shall exercise their powers jointly, but majority three trustees be appointed, shall control, the vacancy the powers duties thereof may performed by surviving members. majority interest of the creditholding participation certificates trust elect trustees time upon giving thirty written notice such election to each depositor creditor holding participation certificates Forest Eccles, Dyer and Clarence Kind hereby designated committee of the depositors' said bank and are granted the power and shall, when has been organized provided this agreement, transfer to said bank and/or mortgage the company undersigned's claim against the pended bank as enable the bank mortgage company use the same in part in purchasing and acquiring the assets of said pended bank from the state bank Said the bank mortgage company as the interest of the committee is authorized assignee of the undersigned make proof claim in its name the examiner charge suspended obtain the customary certificate issued favor the new bank mortgage company and committee bank mortgage company authorized to release, cancel surrender said receiver's certificate said state bank examiner part consideration the purchase and quisition the of the company suspended and upon such surrender and cancellation of said tificate said state bank examiner shall stand fully released from all claims the undersigned any participation the assets said spended bank and the delivery of the assets of said suspended bank to said new bank shall first and operate final dividend undersigned in full payment of of his her present claims against said state bank examiner. This agreement shall not deemed to waiver of liability of any holders of the Riverside Bank liability shall of such stockholders' trustees hereinbefore until enforced by the all notes, securi- any named, and moneys, obtained by the ties and judgments account thereof shall quest, said trustees on included in the trust fund to for the benefit of depositors up It in the Riverside Bank. the assets of the five The value of Bank classified at Riverside the be set termined by appraisals slow shall be the in an and/or good but basis credit of the depositor of net the new bank ferred and/or creditor and each mortgage company, creditor shall, depositor said net made titled to that proportion credit shall count assets as his deposit bear total of the said good to the assets the new but slow lease Riverside Bank. from his said net The undersigned, therefrom, of, credit, and payable only thereof hereby mortgage able. capital stock thereof the company and surplus of icates capital capital and to, the bank. understood and agreed that It the legal title to the entire capital company shall stock the bank in trust vested the will for the subscribers of the capital stock thereof, each subscriber com- that the capital stock mortgage pany shall receive participation tificate which shall represent his terest the assets of the mortgage obliga- and company all its tions and liabilities shall been of paid. banks the The assets of the Wingfield and more have been tentatively appraised, and in bank under this plan agreement the and accordance with said appraisal, the following distribution of assets to the made up of (1) the respective One trust the subscription the capital in the company, the (3) the the capital and surplus of the depositors' deposits in the fol- in the will be approximately lows. $1,000 deposit for the using illustration positors purpose the organization of the new bank paid, provided. however, that depositor may, lieu of such during deferred credit, entitled, upon receive negotiable time board tificates of deposit which shall bear interest the same rate. understood that the twentycent made available of the time of the will be of opening up on the books the account credit, his my subject to and that the dedeposits where no negotiable ity certificates issued, the deposits are they likewise cessor. available in individual the an to my credit to check. have subject It understood the either the to the right any and all of the installments event before there- shall maturity provided that for if any deposit or deposits released and made availinstallment installments, including said deposit, the certifdeposit there- trustee corresponding shall due and have thereupon become available to all the depositors similarly and that of said said any stallments trust maturity thereof, notice of that fact of be furnished to me. It understood and agreed It reorganization the Wingfield banks by and through new bank company hands accomplished, that said new bank said mortgage shall each company and have board of directors consisting said sixteen members, and that the placing $500,000 on deferred deposit in said new shall have right to select designate four (4) members board of directors for each, the selves bank and the company the of the bank agreed selected by the corporations shall shall president and the manager of the bank. Twelve of the remaining directors said new bank and mortgage and company shall be selected the have of each of the Wingfield shares safeguarding interests of all depositors through the selection of directors. period of this trust, following election of the first directors provided paragraph hereof; also through said directors to continue the management and direction of the affairs said bank. In the that the directors shall die, resign become incapable of duties such director the said trustees shall have and authorpower to select elect from among stockholders said bank that so selected shall not been time the any in past an officer director of any the that any of the trustees decline to act shall resign any reason be incapable of perto forming the duties of said trustees shall select such trustee such selected and elected shall the same power and authority trustees first selected. The aforetrustees while this shall not directors the bank mortgage company. understood and agreed that shares of stock of the bank issued placed in the said trustees and held throughout the period of five years, that there shall be issued by the bank certificates of title ownership of shares so to issued to us, which certificates may be sold, transferred otherwise disposed of with the same effect shares of stock themwere delivered the underbeing understood and that such certificates of title and in the event sale, transfer other disposition thereof whereby the ownership said stock shall pass other parties, then in such event said trustees shall the right cause the said of stock transferred the books of the said bank buyer, transferee person to whom the same shall passed. It pressly understood and provided that the of the said shares stock the the said trustees any action by such trustees shall in no way or the right the undersigned sell, transfer otherwise dispose the tificates to be issued as hereinbefore provided. Banks which are depositors the Riverside Bank any other Wingfield bank may join in this or like agreement, the banks joining in this or like agreement shall be subscribers to the stock in either the bank or the new mortgage company, but such bank's net credit shall payable in equal installments provided by paragraph hereof. 12. It is further agreed that this agreement, and similar by depositors the other Wingfield banks, shall apply to all public funds or deposits of the state of Nevada other governmental agencies of said including the state bank examinany court receiver in charge municipalities, townships, commissions, boards, irrigation districts or political subdivisions or agencies, and that in order carry this agreement into full force effect will necessary that proper legislative action be taken which place such deposits upon equality with individual depositors and creditors. done through legisla- tive authority and through the chinery provided by the act entitled act to provide for the compromise, release of indebtedness, liability or obligation any corporation, state amendments thereof. and an amendment to the state banking act, to adopted by the present legislature. This agreement shall void shall be carried full force and effect within ninety days after March 1933, and said new bank has not opened for business by said date said executive committee shall reassign claim any ceiver's certificate representing undersigned his cessor in interest. Dated 1933.

4. February 10, 1934 The Los Angeles Times Los Angeles, CA
Article from The Los Angeles Times, February 10, 1934

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Bank Receivers' Naming Upheld CARSON CITY The right District Judge Guild for Nevada State banks, which the defunct George Wingbanking group, upheld unanimous decision the Nevada Supreme Court today Institutions affected the Bank Nevada Savings and Trust pany, the United Bank and Riverside Bank, all Reno: Bank Sparks, the Carson Valley Carson City, the Virginia City Bank and the TonoBanking Corporation.

5. February 10, 1934 The Salt Lake Tribune Salt Lake City, UT
Article from The Salt Lake Tribune, February 10, 1934

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Bank Receiver Action Upheld CARSON CITY, Nev., Feb. 9 (JP)The right of District Judge Clark J. Guild to appoint receivers for seven Neveda state banks, all of which were members of the defunct George Wing. field banking group, was upheld in a unanimous decision of the Nevada supreme court today. Institutions affected by the ruling are the Bank of Nevada Savings and Trust company, the United Nevada bank and the Riverside bank, all of Reno; the Bank of Sparks, the Carson Valley bank at Carson City, the Virginia City bank and the Tonopah Banking corporation.

6. February 28, 1934 The Sacramento Bee Sacramento, CA
Article from The Sacramento Bee, February 28, 1934

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GUILD SELECTS HOLLAND LAND BANK RECEIVER CONCERN SHOWS Lovelock Cashier Will Have PROFIT IN YEAR Charge Of Closed Wing- field Institutions CARSON CITY (Nev.), Feb. 28 ier of the First National Bank at Lovelock, Nev., to-day was appointed receiver for seven closed state banks in Nevada. The institutions. all of which are members the controlled by George Wingfield, Reno capitalist, are the Bank Nevada Savings and Trust Company, the United Nevada Bank, and the Riverside Bank. all of Reno: the Bank of Sparks, the Carson Valley Bank, the City Bank and the Tonopah Banking Corporation. Salary Is $500 Monthly. District Clark Guild, after Schmidt, fixed his salary $500 per month and named the law firm Samuel Platt and John Sinal of Reno to act as his attorney The banks failed to open their doors after Nevada's first statewide bank holiday in November. 1932. The two Wingfield national banks, the Reno National and the First National of Winnemucca, are being liquidated by national bank The Wingfield state banks, the Wells State Bank. the Henderson Banking Corporation of Elko, and the Churchill County Bank have been taken by depositor corporations. Annual Report Of Clarksburg Enterprise Is Issued By Company Agriculture in the rich Holland district netted substantial returns to the growers last year. The annual report of the Holland Land Company which operates vast acreage the section around Yolo was sued to-day by Ottem, the president, the concern's net profits from all sources were $46,685.09 deducting reserve of $7,287 for federal income taxes. Net Profits Of $26,807.87 The the brought net profit of $26,807.87 consisting largely crop lease rentals and the interest on land sales contracts. The land sales profits amounted to $2,735.23 Ottem says the company realized book profit $24,631.27 on the of contract for the sale of 2,894 in the Yolo bypart of the Sacramento River flood control project The former have until Jan1936, to repurchase the at price equivalent to the balance due under their contract was Plans For 1934 Made. During 1933, Holland Land sold crops valued at $29.220.60 as the annual share-lease rental on the by-pass land. Leases already are made for the farming of this acreage during 1934. The area has plowed, with 1,000 acres planted to barley. The tenants plan put the remainder in sugar beets and In the refinancing of contracts and second mortgages through the federal farm loan agencies, the company has since January 1st, $48,199.85 in cash and junior mortgage for $2,000 on 122 acres. Ottem says expects to recelve an additional $156,000 in cash and $64,000 of junior mortgages on 1,352 acres in further refinancing Paid $73.25 A Share. The report shows the total liquidating and earned dividends paid to date on the outstanding stock amounts $2,197,500. or $73.25 share This amount includes $60,000 distributed since the last annual meeting of the stockholders year ago. The report also deals to some extent with the stand aken by the in the Holland Land District against the curtailment of sugar beet production, this being leading one in the district. With California second only to in the production of domestic beet sugar the company appeals to Californians to urge their and congressmen to support all legislation favorable to the sugar beet growers The company ended 1933 with total assets of -Capital Man Is Manager. Gus Olson, known in Sacramento as the former chairman of the agricultural committee of the Sacramento Chamber of Commerce, the general manager of the Holland Land Company. Besides Ottem and Olson the other officers include William Timson, vice president: George M. Burton, John E. Jardine, B. Lilienthal, Mendenhall, Lee B. Milbank, W. A. Richardson and Rollo Wheeler. other members of the board of directors: Huhn, secretary, and W. H. Bielefeld, assistant secretary. The general offices are in Clarksburg.

7. March 1, 1934 The Salt Lake Tribune Salt Lake City, UT
Article from The Salt Lake Tribune, March 1, 1934

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Receiver Named For Seven Closed Banks in Nevada CARSON CITY, Nev., Feb. 28 (AP) Leo F. Schmidt, assistant cashier of the First National bank of Lovelock, Nev., today was appointed receiver for seven closed state banks in Nevada. The institutions, all of which members the group controlled by George Wingfield, Reno capitalist. are the Bank of Nevada Savings and Trust company, the United Nevada bank and the Riverside bank, all Reno: the Bank of Sparks, the Car son Valley bank, the Virginia City of bank the Tonopah Banking cor poration. District Judge Clark J. Guild, after appointing Schmidt, fixed his salary at $500 per month and "named the law firm of Samuell Platt and John Sinai of Reno to act as his attorney The banks involved failed to open their doors after Nevada first state wide bank holiday in November, 1932. two Wingfield banks the Reno National and the First Na tional of Winnemucca, are being liquidated by national receivers. The remaining Wingfield state banks, Churchill County bank, been over corporations.

8. March 24, 1934 Nevada State Journal Reno, NV
Article from Nevada State Journal, March 24, 1934

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Assistant Receiver Leaves Home for Theater and Fails to Return; Every Movement Checked Reno legionnaires may organize searching parties to hunt for Roy J. Frisch today, George Twaddle, commander of Darrell Dunkle Post, and H. J. MacSherry, chairman of the post's executive committee, announced The has offered its assistance to the at midnight. legion Reno police department and the sheriff's office. Sheriff Russell Trathen announced last night that he had arranged for 120 Nevada guardsmen to participate in a systematic search of the territory surrounding Reno. The guardsmen will all be heavily armed. Peavine Mountain, the desert to the north, territory paralleling the highways and the Truckee river territory will be thoroughly combed, Trathen said. Roy J. Frisch stepped into oblivion yesterday. Authorities investigating the mysterious disappearance of Frisch, who is a former city councilman, one time Washoe county assessor and former cashier of the Riverside Bank, said they were up against a stone wall. Three possible explanations of his disappearance were advanced: 1. Frisch either has been "taken for a by eastern gangsters who might have sought revenge for his testimony in a swindle case in which four men were sent to the penitentiary in New York. 2. Or he has been kidnaped for ransom. 3. Or he is a victim of amnesia. Facts Relative to Disappearance Are Established by Investigating Officers Authorities apparently last night had established several facts relating to his disappearance. They were: 1. Firsch left his home, 247 Court street, at 7:45 p. m. Thursday and did not return. 2. He attended a movie and walked up Virginia street to Court street, going west on Court a short distance past the sheriff's office. 3. He stopped and talked to a friend at a point between the sheriff's office and his home at Thursday. 4. He did not go home. His bed was in. bridge party was held at the Frisch home until 2 m. yesterday. None of the family or guests saw him come in. It was believed that he would not have gone in side door, although there is a door on the east side of the Frisch house. No Sign of Struggle Is Found Along Street Over Which Frisch Passed on His Way Home The area between the sheriff's office and the Frisch home, which is on the corner of Court and Belmont, is believed to hold the mystery of the physical act of his disappearance. Court street between Virginia and Belmont is fairly well lighted, but there are several dark places in which it is believed a car might have stopped, its occupants picked up Frisch and driven off without being seen. Officers went over the sidewalk, parking and street painstakingly for signs of struggle. There was no blood or signs of scuffle. Police Chief M. Kirkley, who is conducting the investigation, last night had men covering all vantage points, chasing clues, most of which were proving false, and doing everything possible to find the missing assistant to Bank Receiver Leo F. Schmitt. Federal Investigators Asked to Help; Everything Found in Order at Bank United States District Attorney H. H. Atkinson stated that he "was interested in the Chief Kirkley asked for federal investigators to aid in the case. Frisch lives quietly with his mother and sisters at the Court street home. He is considered a model citizen and business man. Associates said he never uses alcohol, gambles, or even smokes. His health has been good. He recently was appointed assistant to the bank receiver and put in charge of the Riverside Bank assets. All the assets and money were checked in with Receiver Schmitt several days ago when Schmitt took over the affairs of seven of the closed state banks. "Everything is 100 per cent all right with Frisch as far as the bank is concerned," Schmitt stated last night.

9. March 24, 1934 Nevada State Journal Reno, NV
Article from Nevada State Journal, March 24, 1934

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Three Theories Advanced After' Roy Frisch Strangely Drops Out Of Sight; Gang Plot Is Feared Cotinued from Page One going to a show and will be home early.' Frisch is not especially fond of cards and it is-believed that that was why he decided to go to the show, although he very seldom goes out at night, according to his family and associates. That was the last time any of his family saw him. Police checked the airport, the railroad station and bus station. No trace of him could be found at any of those places. When he failed to return, the front porch light was left on for him. His sister looked in his room at 2 m. yesterday and he was not there. Police were notified at noon yesterday. It was explained that an alarm was not broadcast before because members of the family had believed that he would return. Report Frisch Seen Near Postoffice Is Discounted; Secretary Unworried at First A report that Frisch had been seen at 9 a. m. yesterday morning in front of the postoffice was discounted. It was believed that the man who had reported seeing Frisch was mistaken. Miss Frankie Shaughnessy, who is employed at the Riverside and United Nevada Banks, where Frisch's offices said that he did not go to work at 8:45 a. m. as usual. Miss Shaughnessy, who does Frisch's secretarial work, said that she was not alarmed when he did not appear because she thought he might have been around town on other business. "He usually comes to work at 8:45 a. she stated. "Nine o'clock is when work begins usually at the bank, but his time for beginnig work is 8:45.' She said that the report of his being seen at the postoffice was doubtful because Frisch never went to the postoffice for mail. Either Miss Shaughnessy or Joe Fuetsch, who is employed at the bank, goes after the mail. Business Engagements Booked for Day; Many Clues Run Down, But Produce Nothing Police also stated that it appeared unusual that but one person should report seeing Frisch at the postoffice at 9 clock in the morning, when the postoffice is busy and the streets crowded. Frisch is very well known. Miss Shaughnessy said that he had voiced no intentions of leaving town and that, on the contrary, he had booked business engagements for all day yesterday He never worked nights at the bank, she said. Frisch's principal office is in the United Nevada Bank, but he divides his time between the United Nevada and the Riverside because he still has to take care of the safety deposit boxes at the Riverside, although most of the business is now carried on at the United Nevada. Many clues were run down by police yesterday. Sheriff E. R. Trathen also was working on the case. One clue led sheriff's deputies and police to the sand pits near the golf club on Plumas road. Someone called and said that he had heard shooting out that way. Nothing was found at the sand pits. No Notes, Phone Calls or Ransom Demands Received; Prosecution Connection Studied In some quarters it was believed that kidnapers might have picked the period just before Governor Balzar's funéral to abduct Frisch. Those advancing this theory believed that the kidnapers might figure that the police would be diverted from the case by the task of handling the crowds and traffic at the governor's funeral. No notes, phone calls or ransom demands had been received at midnight today, authorities stated. Those who believed that Frisch might have been the victim of a gangland reprisal for his part in convicting four New York gangsters in a swindle case. Securities and bonds which the alleged swindlers obtained from wealthy New York residents were handled through the Riverside Bank when Frisch was cashier of the institution and before it closed November 1, 1932. Frisch was called to New York to testify in the case several times. The last time he went was about two months ago. The four men who were convicted in New York and whose pals might have reason to "take Frisch for a ride" were John West, Patrick Sullivan, Joseph Marshall and W. E. Shaw. Family Has No Knowledge of Threats; Associates Say His Health of the Best Members of his family said that he had not said anything about receiving threats from anyone. Business associates said that he appeared in the best of health and spirits when he left the United Nevada Bank at 5 m. Thursday. That was the last time his associates saw him. Frisch was never known to have disappeared before. He was exceptionally regular in his habits. The amnesia theory had absolutely nothing to back it up, except that "such things happen." He appeared in robust health and his nerves apparently were sound. W. J. Tobin, Reno National Bank receiver, is an intimate friend of Frisch. Tobin last saw the missing man Thursday afternoon, he stated last night. Tobin, too, said that Frisch appeared in the best of spirits. The two planned to play golf at Lake Tahoe Saturday, Tobin said. 'When we played golf together, he never expressed any fear of being "bumped off' by gangsters or anything like that,' Tobin said. Mother Reported in "Very Nervous State" As Result of Frisch's Disappearance "Of course, when I look back, I can recall that at times Roy appeared nervous. He never said why he was nervous. He never said anything about having been threatened by Once in a while he would mention his trips to New York. He only mentioned them, that's Tobin said. Roy Frisch's mother, widow of the late Charles Frisch, was reportedly in a "very nervous state" last night. Frisch has two brothers, Albert and Charles Frisch, and two sisters, Alice and Louise, living in Reno. He was born in Reno 45 years ago and was educated in the Reno schools. He was always considered a model boy in school. He served as city councilman for 12 years, before he went over seas to war. Later he was county assessor, but left that position to become cashier of the Riverside Bank when the bank was organized. He also was in the contracting business at one time. Frisch is member of the Darrell Dunke Post, American Legion, and the Reno Elks Club: It was believed that he did not carry more than $25 on his when he left his person This discounted any theory that he might have been held up, robbed and

10. April 4, 1934 Nevada State Journal Reno, NV
Article from Nevada State Journal, April 4, 1934

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Name Successor To Roy Frisch W. F. Powers, former assistant cashier of the Lyon County Bank. has taken over the duties of Roy J Frisch as assistant bank rece.ver in charge of the Rivers.de Bank Receiver Leo F Schmitt announced last night Meanwhile United Press dispatches from Sacramento reported that the search conducted there for Frisch had been unsuccessful and several more federal investigators reportedly arrived in Reno to join other federal agents handling the case. Powers who has taken over Frisch's duties at the bank, his had 18 years' banking experience and recently came here from Yerington to work as an assistant to Schmitt.

11. June 1, 1934 Mason Valley News Yerington, NV
Article from Mason Valley News, June 1, 1934

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13 STATE BANKS STILL OPEN RENO, Nev., (UP)-Thirteen banks in Nevada are open for business, compared to 31 before the depression, a United Press survey showed. Of the banks open six are national banks, four state banks are operating without limitations and three under restrictions. Thirteen of the 18 closed institutions are in hands of receivers. 4 others have been reorganized into liquidatating companied and one, Bank of, Southern Nevada at Las Vegas, is in voluntary liquidation. Depositors of the closed Battle Mountain State Bank have petitioned for permission to reopen under restrictions. Hearing has been set for June 6 before Judge Edgar Eather at Austin. If the depositors' petition is granted the Batle Mountain institution will be opened for limited business similar to the Lander County Bank, Austin, the Mason Valley Bank at Yerington, and the Wells State Bank. Banks reopening for restricted business under the supervision of State Bank Superintendent E. J. Seaborn are required to freeze all old deposits for a four year period. New deposits must be held in cash, be, deposited with a Federal Reserve bank or invested in federal securities. Banks open for unrestricted business are: Ely National Bank and First National Bank, both at Ely; First National Bank, Lovelock; First National Bank, Elko; First National Bank, Reno: Ruth Bank, Ruth; First State Bank, Las Vegas; First National Bank, Eureka; Farmers Bank of Carson Valley, Minden, and the Bank of Pioche. Those under restrictions are: Lander County Bank, Austin; Wells State Bank, and the Mason Valley Bank. Closed Banks under Leo F. Schmitt as receiver are: Carson Valley Bank, Carson City; Bank of Nevada Savings and Trust, Riverside Bank, and United Nevada Bank, all of Reno; Bank of Sparks; Tonopah Banking Corporation, of Tonopah, and Virginia City Bank. Seaborn is in charge of the following closed institutions: Battle Mountain State Bank; Douglas County Farmers' Bank Gardnerville; The Quinn River Bank, McDermiat; Winnemucka State Bank and Trust Co. The Reno National Bank is in charge of Walter J. Tobin, national bank receiver. Receiver H. S. Streeter is in charge of the First National Bank of Winnemucca. MRS. JOHN FEENEY, former resident of Wabuska, accompanied by her son John, is spending a short vacation visiting at the home of Mrs. Gelmstedt. She will return to San Francisco on Monday. Subscribe to the News.

12. July 16, 1934 The Sacramento Bee Sacramento, CA
Article from The Sacramento Bee, July 16, 1934

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BANK RECEIVER BUYS NEVADA FIRM ASSETS RENO (Nev.). July 16.-Assets of The Realization Company, taken over from the old Washoe County Bank several years ago, were bought by the receiver of the United Nevada Bank, defunct Wingfiled institution, at a sheriff's sale Thursday. The sale was held to satisfy a judgment obtained by the receiver totaling $154,393.54. The receiver, Leo F. Schmidt, bought personal property on June 28th for $38,280, and Thursday bought the real property for Stockholders in The Realization Company are completely wiped out. The company was formed in 1929 when the United Nevada Bank was organized to take over the old Washoe County Bank Depositors were paid 75 cents on the dollar, taking the remainder in Realization Company stock. RECEIVER FOR SEVEN BANKS FILES REPORT RENO (Nev.), July 16.-In a report filed by Leo F. Schmitt receiver for seven state banks of the closed Wingfield chain. collections of $722,000 above operating expenses. in period of four months are shown. Part of this money has been distributed and part is being distributed to depositors of the Riverside Bank and the Bank of Nevada Savings and Trust Company of Reno, and the Bank of Sparks of Sparks The report of the receiver is given in great detail for each of the seven banks he is administering In only one case, however, that of the United Nevada Bank, does he indicate what the total depositor dividend may be, and he places this at not in excess of 50 cents on the dollar The United Nevada Bank has paid no dividend so far BUTCHER IS JAILED IN RECKLESS DRIVING CASE LODI (San Joaquin Co.), July 16 Alex Seidler, 30, butcher, was sent to jail for fifty days by Police Judge J. E. Hopkins in default of $100 fine imposed on a charge of reckless driving. Seidler gave Police Officers Del Acker and A. E. White a race through the city before he was arrested Thursday night FIRE DESTROYS CABIN GRASS VALLEY (Nevada Co.), July 16.-A fire late Saturday destroyed cabin, woodshed and per sonal belongings of several employes at the Manion Dairy on the Upper Colfax Road The dam age is estimated at $300. chemical engine from the Grass Valley Fire Department prevented the flames from spreading to the main buildings.