f45f0751None
Click image to open full size in new tab
Rhyolite Bank Fails. GOLDFIELD, Nev., March 21.-The First National bank of Rhyolite, Nev.. has suspended regular business pending liquidation proceedings that have been commenced. The deposits amount to $80,000 and the assets toal $9000 in cash and $122,000 in convertible securities and loans. Oscar J. Smith of Reno is president of the institution.
Click image to open full size in new tab
NEVADA BANK SUSPENDS PENDING LIQUIDATION Goldfield. Nev., March 21.-The First National bank of Rhyolite Net., has suspended regular business pendIng liquidation proceedings that have been comenced. The deposits amount to $80,000 and the assets total $9.000 in cash and $122.000 in convertible securities and loans. Oscar J. Smith of Reno is president of the institution.
Click image to open full size in new tab
BANK CLOSES DOORS First National of Rhyolite Suspends. Will Pay In Full GOLDFIELD. March 22. -The First National Bank of Rhyolite, Ne vada, has suspended regular business pending liquidation proceedings that have been commenced. The deposits amount to $80,000 and the assets to tal $9000 in cash and $122,000 in con vertible securities and loans. Oscar J. Smith of Reno. is president of the institution. RENO, March 22.-Asked concerning the foregoing dispatch Mr. Smith stated that this was the first news he had received concerning the bank's closing. Conditions at Rhyolite, he said, had been bad for some time, and consequentily the bank had gone into voluntary bankruptcy in order to close out an unprofitable business. He says the depositors will be paid off dollar for dollar. It is not at all likely that the other banking interests of the state will be in anywise affected.
Click image to open full size in new tab
GOLDFIELD, Nev! - The First National bank of Rhyolite has suspended and liquidation has begun. The deposits-are $80,000.
Click image to open full size in new tab
BANK OF RHYOLITE TO GO INTO LIQUIDATION Financial Concern in Nevada Is Winding Up Its Business GOLDFIELD, Nev. March 21.-The First national bank of Rhyolite, Nev., has suspended regular business pending liquidation proceedings that have been commenced. The deposits amount to $80,000 and the assets total $9,000. in cash and $122,000 in convertible securities and loans. Oscar J. Smith of Reno is president of the institution.
Click image to open full size in new tab
RHYOLITE BANK SUSPENDS. GOLDFIELD, March 22.-The First National Bank of Rhyolite suspended business this morning, pending liquidation. Deposits, $80,000; assets, total, $9,000 cash, $122,000 convertible securities.
Click image to open full size in new tab
RHYOLITE BANK IS FORCED TO CLOSE DOORS By Associated Press. GOLDFIELD, Nev., March 21. The First National Bank of Rhyolite suspended today, pending liquidation. Its deposits are $80,000. The cash on hand was $9,000 and the securities totalled $122,000.
Click image to open full size in new tab
WESTERN NEWS. Forty bodies of the Wellington ava. lanche victims have been identified. Forty-eight bodies have been taken from the Rock Island wreck in lowa. Rock Island officials will tour Colo rado to inspect their growing interests. Weston, the walker, has arrived at Topeka, ten days ahead of schedule. Prospects are good for the railroad differences to be settled by arbitration, The temperature at Rapid City, South Dakota, Monday, was eightyone degrees. San Francisco will hold a Panama celebration in 1915, having won the selection over San Diego. Tex Rickard has announced that the prices of seats for the Jeffries-Johnson fight, July 4th, will range from $5 to $50. Governor Haskell of Oklahoma has been forced by illness to take a rest. His action on forty-two bills is thereby postponed. Jack Cudahy was not tried at Kansas City for his attack upon Jere Lillis, no one having appeared to prosecute. Thomas F. Walsh and family have left San Antonio and gone to Washington. Mr. Walsh's condition is considered very serious. A nerve specialist who examined Thomas F. Walsh at San Antonio Texas, has expressed the belief that Mr. Walsh's condition is not serious. Judge Rice of Deadwood has issued an injunction against the union miners interfering with the employes of the Golden Reward Company by "either word, act or sign." High water in the Missouri river bottoms near Glencoe, North Dakota, will cause damages of $100,000. Fears are felt for three families in the inundated tract. A report from Washington says that it is altogether likely that the government will discontinue the Fort Lewis Indian school at the close of the present fiscal year. The First National Bank of Rhyolite, Nev., has suspended regular business pending liquidation proceedings. Deposits are $80,000 and assets total $9,000 in cash and $122,000 in convertible securities and loans. The maximum penalty of two years in the federal penitentiary at Leavenworth, Kas., and a fine of $10,000 was meted out to John C. Maybray and nine others by Judge McPherson in the Federal District Court at Council Bluffs, Monday.
Click image to open full size in new tab
THE LATEST IMPORTANT DIS PATCHES PUT INTO SHORT, CRISP PARAGRAPHS. STORY OF THE WEEK SHOWING THE PROGRESS OF EVENTS IN OUR OWN AND FOREIGN LANDS. WESTERN. Mrs. Russell Sage is ill at Pasadena, Calif. Prairie fires in Nebraska caused a loss of $200,000. South Dakota sheep losses will be about fifty per cent. Forty-eight bodies have been taken from the Rock Island wreck in lowa. Rock Island officials will tour Colorado to inspect their growing interests. Weston, the walker, has arrived at Topeka, ten days ahead of schedule. Prospects are good for the railroad differences to be settled by arbitration. The temperature at Rapid City, South Dakota, Monday, was eightyone degrees. San Francisco will hold a Panama celebration in 1915, having won the selection over San Diego. Tex Rickard has announced that the prices of seats for the Jeffries-Johnson fight, July 4th, will range from $5 to $50. Jack Cudahy was not tried at Kansas City for his attack upon Jere Lillis, no one having appeared to prosecute. Thomas F. Walsh and family have left San Antonio and gone to Washing. ton. Mr. Walsh's condition is considered very serious. Galen Clarke, the discoverer of the Mariposa grove of big trees and for twenty years guardian of Yosemite valley, died Thursday night, aged ninety. six. A report from Washington says that it is altogether likely that the govern. ment will discontinue the Fort Lewis Indian school at the close of the present fiscal year. "Squatters" having occupied their tracts since before creation of forest reserves, and complied with the home: stead law, can acquire title to 160 acres prior to survey. At Anaconda, Montana, the Anacon. da Copper Company voted to increase its capital stock from 1,200,000 to 6, 000,000 shares, and provided for the merging of a half-dozen other compa nies. The First National Bank of Rhyolite, Nev., has suspended regular business pending liquidation proceedings. De. posits are $80,000 and assets total $9. 000 in cash and $122,000 in convertible securities and loans. The maximum penalty of two years in the federal penitentiary at Leaven. worth, Kas., and a fine of $10,000 was meted out to John C. Maybray and nine others by Judge McPherson in the Federal District Court at Council Bluffs, Monday.
Click image to open full size in new tab
WESTERN NEWS. Forty bodies of the Wellington avalanche victims have been identified. Weston, the walker, has arrived at Topeka, ten days ahead of schedule. The temperature at Rapid City, South Dakota, Monday, was eightyone degrees. A lower freight rate from the West to Utah and Wyoming points has been announced. The main building of Cherokee Seminary at Talequah, Oklahoma, was destroyed by fire Sunday. George Sinkford, John Overman and Charles Dideen were killed in a mine explosion at Pittsburg, Kansas, Friday. Tex Rickard has announced that the prices of seats for the Jeffries-Johnson fight, July 4th, will range from $5 to $50. Governor Haskell of Oklahoma has been forced by illness to take a rest. His action on forty-two bills is thereby postponed. Thomas F. Walsh and family have left San Antonio and gone to Washington. Mr. Walsh's condition is considered very serious. The Southwest Shippers' Traffic Association presented their grievances to a member of the Interstate Commerce Commission at Kansas City, Friday. A nerve specialist who examined Thomas F. Walsh at San Antonio Texas, has expressed the belief that Mr. Walsh's condition is not serious. Judge Rice of Deadwood has issued an injunction against the union miners interfering with the employes of the Golden Reward Company by "either word, act or sign." High water in the Missouri river bottoms near Glencoe, North Dakota, will cause damages of $100,000. Fears are felt for three families in the inundated tract. The First National Bank of Rhyolite, Nev., has suspended regular business pending liquidation proceedings. Deposits are $80,000 and assets total $9,000 in cash and $122,000 in convertible securities and loans. The maximum penalty of two years in the federal penitentiary at Leavenworth, Kas., and a fine of $10,000 was meted out to John C. Maybray and nine others by Judge McPherson in the Federal District Court at Council Bluffs, Monday.
Click image to open full size in new tab
Rhyolite Bank Quits. The First National Bank of Rhyolite failed to openfor business Monday morning and a card on the door announced that the concern had gone into liquidation. The news did not create much surprise as it has been known for sometime that other busiiness was receiving more attention than the affairs of the bank. The deposits will not exceed $80,000 with assets of cash approximating $9,000 000. The suspension has been expected and no other banks will be affected. The officers of the bank are: Oscar J. Smith, Reno, president; Bert Smith, vice-president; and F. H. Stickney, cashier.-Clark County Review.
Click image to open full size in new tab
PEOPLE ASTOUNDED AT THE SMITHS' RASCALITY lands in southern California and other RENO, April 5.-The Gazette has properties, any one of which should the following on the Eureka bank pull, not only the banks but ourselves, failure: The failure of the Bank of and that within a very few months. Eureka now seems to be a very serious "The affairs of the banks will be matter, inasmuch as the assets are but closed up without expense other than a small fraction of the liabilities. The that which is absolutely necessary. failure of the First National Bank of The failure was due to our investRhyolite does not appear to be a very ments, particularly in southern Nebad one, inasmuch as the deposits are vada, many of which proved disaspractically assured by the assets of the trous. We worked in the face of ininstitution. numerable obstacles, the first being The Eureka bank failure is in the the San Francisco fire, which caused neighborhood of a $300,000 collapse, it a shrinkage in our securities amountcontaining the lifetime savings of a ing to half a million dollars. The fall number of people and the ready money in the price of our Goldfield holdings, of the county of Eureka. due to the labor troubles there, caught Osear J. Smith of this city, Bert L. us for a couple of bundred thousand Smith and Mrs. O. J. Smith are the dollars more and the great panic comones most directly responsible for the pleted the disaster. Since that we have failure and they have come to the struggled to get our heads above water assistance of the institution with pracand I think we should have succeeded tically every cent they possess and all in time. But the crash has come now of their personal realty holdings. and all we will do the rest of our days, O. J. Smith was seen by a Gazette if it requires our remaining years, will iepresentative this morning and was be to make everybody square, and this given the first interview that has apwill, we hope, require only a few t peared since the failure. Mr. Smith months. Then, and only then, we will has perceptably aged during the past endeavor to repair our individual forten days and he has assumed a more tunes. serious aspect than his wont, but he "I want to say this, that ! am in is philosophie through it all. He said: close touch with the banking institu"My brother, my wife and I were tions throughout the state and all of V in apparently prosperous circumstances them are in most prosperous condibefore the crash came, but we played L. tion, especially those of Reno, which out our hands to the last card, or, as o are as strong as the rock of Gibrala billiard devotee would say, to the tar. The First National Bank of Elko, end of the string. h with which my brother and myself We did not really know that the were once prominently connected, is crash, would come until the night beas solvent as any other banking instifore the suspension of the Rhyolite intution in Nevada. The Bank of Manstitution. It would have been better hattan, which we controlled has been for our depositors and for ourselves if liquidated without loss to a single inwe had wound up our banking business dividual. Nearly all accounts have months ago, but we had investments been paid and there 1S more than that were liable to prove of great value enough gold coin in the vaults to pay at any moment. everything that remains and then "That is all there is to the story and some." we have all three placed what forGeorge H. Taylor of the Washoe tune we possess back of the instituCounty Bank was asked what he knew tions. Mrs. Smith will possess absoregarding the suspension, inasmuch as lutely nothing more than the equity in he is interested in the Eureka Cattle her house and I will have my law company, one of the chief creditors of library, the tool of my trade; Bert will the institution, but he said that he had emerge equally stripped of his posses. not yet received any definite informasions. tion. "I am confident that the Rhyolite Moritz Sheeline was to have acceptbank will pay every cent of its ined the receivership of the institution, debtedness and am assured that the but he returned without reaching that Eureka institution will do equally as point, on account of the railroad well. My brother and I will not only washouts. He said that he intended surrender all our present assets, but to accept the receivership, but would we will labor for the balance of our now decline, because of the small stidays to the end that no man can say pend that was allowed, it being the we ever took advantage of them to intention to keep the cost of liquidation the extent of a fraction of a cent. to the very lowest possible amount. "We have a lease at Pioneer, oil
Click image to open full size in new tab
on the Pioneer at the camp of that name was arranged, the Eureka County bank would profit. Then the cattle selling season was coming on, when the big loan to the Eureka cattle company was to be liquidated. The Smith brothers owned very large herds of sheep and the wool e crop was also to go to reduce their d indebtedness to the bank. Altoe gether, the prospects were good for a very large reduction of the Smith e brothers obligations to the Eureka bank, if only sufficient time were given. The board kept in close touch with all these affairs and assisted the Smiths wherever possible. The Smiths surrendered 'to Eureka County bank 205 shares of stock of that institution and in time, paid a large amount from the sale of that stock, as had been arranged. The Pioneer lease, however, got into e legal tangles, its dividend, which e had been declared, was enjoined and the Smiths have to this time received nothing from their interest e therein. e Before other deals were consummated which the board had in hands, the national bank examiner closed the Smiths' First National bank at Rhyolite.. This threatened a run on their Eureka bank, and the banking board decided to close that institution at once Judge Peter Breen, in a grandstand play at Eureka, in receivership proceedings, censured the bankr ing board for not having acted d sooner, saying depositors should have been warned so that they would a have not made their deposits in the bank. This statement was entirely gratuitous and without knowledge of the facts. The bank examiner had testified that months before he had made a statement to the board showing its insolvency, but he was r not permitted to explain why the e board had delayed in closing the it bank, and Judge Breen took this k partial statement as a pretext for e lecturing the banking board. Results will disclose that the action of
Click image to open full size in new tab
# Rhyolite Wants Bank John S. Cook & Co. of Goldfield have decided not to establish a bank at Rhyolite. The State Banking Board will not permit a banking house to maintain a branch or an agent and the Cook people do not feel justified in putting in a new corporation here. Receiver Thornton of the First National says that a bank at Rhyolite with a $25,000 capital can make money. -Rhyolite Herald.
Click image to open full size in new tab
DEFUNCT BANK TO PAY 15 PER CENT The controller of the currency has ordered a dividend of 15 per cent to be paid to the creditors of the First National Bank of Rhyolite, Nevada. The dividend checks will be ready to be sent out by the receiver, Thomas M. Thornton, about the 20th day of September. 1910. Sale of the bank's furniture and fixtures was made this week to D. W Wilson of Los Angeles, for $500.-Rhyolite Herald.
Click image to open full size in new tab
Nevada State News It is estimated that Clark County will produce over $50,000 worth of melons this year. The Controller of the Currency has ordered a dividend of 15 per cent to be paid to the creditors of the the First National Bank of Rhyolite, Nevada. Typhoid fever is having quite a serious run in Virginia City and several deaths have taken place during the past few weeks. The cause is attributed to the water that is used for drinking purposes. While playing with companions near the old Combination mine in Goldfield. Ray Ferre, 7 years old, was crushed by a falling ore car and died shortly afterward at the St. Mary's Hospital. The father of the boy was employed in the lower workings of the mine at the time his son was injured. The contracts recently let for the construction of the new high line of the Salt Lake Route through the meadow Valley wash aggregate $6,000,000. The work was let in two sections; the ShattuckEdingder Company of Los Angeles receiving the contract for the southern portion, and the Utah Construction Company of Salt Lake and Odgen got the northern portion. Major Minnamascot, the mule which Col. W.J. Bryan sent to Goldfield two years ago as a compliment to the precinct for showing the largest gain in Democratic votes in the United States, is now employed on a beer wagon. The Major, it will be remembered, was received at Goldfield by a grand Democratic jolllfication,it which the Governor and other notables welcomed him with flowing oratory. A cloudburst rushed into Tonopah Tuesday night from Butler mountain, flooding the main street from wall to wall and filling cellars with water and debris. A considerable amount of damage resulted and the power and electric light were out of commission for several hours, leaving mine hoists idle and the town in darkness. The water came with great suddenness and the storm is the worst there for several years. Manager Stone of the Butters plant in Sixmile Canyon, Storey County has conducted a series of experiments whereby the successful treatment of concentrates has been brought about and instead of shipping concentrates to the smelters as heretofore, the company is now treating them at the plant, securing a high per centage of extraction of the values. The company is now able to treat ore in all its process from the battery to the cy. anide tanks, and at a low rate of expense. That Churchill County is becoming famous as a feeding ground for stockmen all over the State, was proved last week when the Western Meat Company of San Francisco and Reno endeavored to purchase 3000 tons of hay for the purpose of feeding stock in and around Fallon this Winter. In all, the CO mpany has purchased 700 tone, and is now negotiating for more, paying $6 and $7 per ton for alfalfa, and is paying 12 cents per head per day for feeding stock cattle and 5 cents per day for pasture. C. W. Kinney, who recently sold the big salt deposit at Sand Springs in Churchill County to New York capitalists, is after material for the building of & railroad from Fallon to SandSprings. He says that this road, which has been surveyed and will be 23 miles long, will cost about $180,000, and will be used to haul salt from the works to Fallon. He is preparing to go to the East to make further arrangements for the material. He expects to begin building a big salt refinery at Sand Springs by October. The final chapter in the merger of two great copper companies in the Ely district controlled by the Guggenheim initnrests was recently closed in Portland, Maine, at a special meeting of the Cumberland Ely Company, when it was voted almost unanimously to sell the property to the Nevada Consolidated The vote was 1,273,476 shares in favor of the consolidation, and 2291 shares op-
Click image to open full size in new tab
# Nevada State News William Mackay, for five years the foreman of the State Printing Office at Carson, has been retained in that position by the incoming State Printer, Joe Farnsworth. Investigation shows that the skeleton recently found near Elko was that of Bill Porter, a Norwegian trapper. He was afflicted with cancer of the lip and killed himself with a rifle. The remains were identified by his rifle and a cooking outfit. Receiver Thomas M. Thorton of the Smith First National bank of Rhyolite has sold the vault doors, safe, safety deposit boxes and the furniture and other fixtures of the failed institution to the G. M. West Company of San Francisco for $2000. In the district court at Goldfield on Friday Judge Stevens handed down a decision and order setting aside the verdict of $75,000, rendered in favor of the Goldfield-Mohawk Mining Company, in its suit against the Frances-Mohawk Mining and Leasing Company, on the ground of "insufficient evidence to justify the verdict." A new trial is ordered. W. C. Blackwords was arrested Wednesday in Sparks charged with being an accomplice of his wife, who was also arrested in Odgen Wednesday for the robbing of Banker Gerber of Sacramento on December 8 of $6000 worth of diamonds and furs. The woman hired out as a servant girl and by this means was able to rob the house, assisted by her husband. Fire Monday night at Sheridan, 20 miles south of Carson, nearly wiped the little town off the map. A merchandise store, two saloons, the postoffice, express office and several dwellings were destroyed. The loss is estimated at $50,000, with little insurance. A young man named Russell, who was sleeping in the store, was badly burned and his condition is serious The boiler of a locomotive on the Tonopah & Tidewater Railroad exploded while the train it was drawing was near Beatty on December 30. Engineer Frank McEntree was killed outright and Fireman Cadd is believed to have been fatally injured. The locomotive was demolished and the noise of the explosion was heard for miles. Pieces of the engine were hurled 500 yards. No one other than the engine crew was hurt.