14618. Round Mountain Banking Corporation (Round Mountain, NV)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
December 5, 1908
Location
Round Mountain, Nevada (38.711, -117.068)

Metadata

Model
gpt-5-mini
Short Digest
c10876ec

Response Measures

None

Description

The bank suspended on Dec 5, 1908 citing bad loans. Articles state it would reopen in thirty days to pay depositors, but will not resume business. A receivership petition was filed Dec 17, 1908 and a receiver (R. P. Dunlap) was in charge by Jan 1909. No run on the bank is reported; closure followed suspension and receiver appointment.

Events (4)

1. December 5, 1908 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Closed due to bad loans; statements in multiple dispatches attribute suspension to bad loans.
Newspaper Excerpt
The Round Mountain Banking Corporation ... has closed its doors. Bad loans are given as the cause of suspension. It is announced that the bank will reopen in thirty days to pay depositors, but will not resume business.
Source
newspapers
2. December 12, 1908 Other
Newspaper Excerpt
BANK EXAMINER HOFER NOW IN CHARGE Of Round Mountain Banking Corporation ... Bank Examiner Hofer was instructed to take charge of the institution and make a thorough report upon its condition as soon as possible.
Source
newspapers
3. December 17, 1908 Other
Newspaper Excerpt
A petition was filed ... asking that a receiver be appointed for the Round Mountain Banking corporation and that the said corporation be declared insolvent ... Judge O'Brien issued an order that the directors and officers appear in the district court ... show cause why the facts of the petition should not be complied with.
Source
newspapers
4. January 2, 1909 Receivership
Newspaper Excerpt
R. P. Dunlap, who was appointed receiver for the Round Mountain Banking corporation ... returned from the northern camp ... He has spent the past several days in Round Mountain examining into the affairs of the defunct banking institution.
Source
newspapers

Newspaper Articles (9)

Article from Tonopah Daily Bonanza, February 12, 1908

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Article Text

ROUND MOUNTAIN BANK'S DIVIDEND FINANCIAL INSTITUTION AT THE GOLD CAMP IN FINE CONDITION. The Round Mountain Banking Corporation is one of the best arguments of the worth of Round Mountain, for the bank has just paid a f dividend of seven per cent. During t all the panic and panicky times the bank remained open, and paid every check that was presented in hard y cash. At the last meeting Reese B. Wampler was added to the board of directors, the officers and directors now being as follows: e Congressman George Bartlett, president; J. F. Stebbins, vice-president; C. O. Olive, cashier; L. A. Hannon, assistant cashier; Nelson Rounsevell, T. J. McSorley and Reese B. y Wampler. A visit to the Nevada Club means that you will be a steady patron. h Your friends will be there to greet


Article from Arizona Republican, December 5, 1908

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Article Text

NEVADA BANK CLOSES. As Usual the Depositors Are to Be Paid. Tonopah, Dec. 4-The Round Mountain Banking Corporation of Round Mountain, a' town in Nye county, sixty miles north of Tonopah, has closed its doors. Bad loans are given as the cause of suspension. It is announced that the bank will reopen in thirty days and pay its creditors, but will not resume business. The bank is capitalized at $25,000 and had $30,000 in deposits. The extent of the liabilities is unknown.


Article from Los Angeles Herald, December 5, 1908

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Article Text

BANK IN NEVADA TOWN IS CLOSED FROM BAD LOANS TONOPAH, Nev., Dec. 4.-The Round Mountain Banking corporation of Round Mountain, a town in Nye county, sixty miles north of Tonopah, has closed its dors. Bad loans are given as the cause of suspension. It is announced the bank will reopen in thirty days to pay depositors, but will not resume business. The bank is capitalized at $25,000, and has deposits amounting to about $30,000. The extent of its liabilities is unknown.


Article from Carson City Daily Appeal, December 12, 1908

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Article Text

BANK EXAMINER HOFER NOW IN CHARGE Of Round Mountain Banking Corporation and Will Make Report to State Bank Commission A meeting of the Banking Commis- condition as soon as possible. What sion of the State was held yesterday ever action is to be taken regarding afternoon in the office of the Gover- the bank will be held until the report nor and the closing of the Round of the Bank Examiner is in the hands Mountain Banking Corporation, which of the Commission. At the time of the suspension of suspended business on the 5th inst., the bank the statement was made by was considered by the Commission. Bank Examiner Hofer was instretits officials that t hey would open a branch office in Tonopah where they ed to take charge of the institution would pay the depositors in full. and make a thorough report upon its


Article from The Eureka Sentinel, December 12, 1908

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Article Text

Round Mountain Bank Has Failed A Tonopah, Nevada, dispatch says the Round Mountain Banking Corporation of Round Mountain, a town in Nye County, 60 miles north of Tonopah, has closed its doors. Bad loans are given as the cause of suspension. It is announced that the bank will re. open in 30 days to pay depositors, but will not resume business. The bank is capitalized at $25,000, and has deposits amounting to about $30,000. The extent of its liabilities is unknown.


Article from Tonopah Daily Bonanza, December 17, 1908

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Article Text

PETITION FOR APPOINTMENT OF BANK RECEIVER A petition was filed yesterday in THE COHN SALE the district court by Attorney Gener. al Stoddard, who is acting under the instructions of the State Bank comMOST POPULAR missioners, asking that a receiver be appointed for the Ronud Mountain The big sale at the store of Mrs. Banking corporation and that the S. B. Cohen has been meeting with said corporation be declared insoltremendous success, for many of the vent and that a restraining order be shoppers have taken advantage of issued against the directors and ofthe low prices to secure Christmas ficers of the bank from carrying on articles. Everything in the store has any business, as it is unsafe to transbeen cut one-half in price and there act any of its business whatsoever. are some rare bargains. A large line Judge O'Brien issued an order that of ladies' suits, coats, petticoats and the directors and officers appear in skirts is displayed, and every one is the district court on next Monday a real bargain in itself. The sale will and show cause why the facts of the be conducted until the sum of $2000 petition should not be complied with. is taken in with which the manageThe petition states that the total ment will secure a full line of spring liabilities of the corporation are $29,goods. 699.07, and the total assets $21, 318. 19.


Article from Carson City Daily Appeal, December 19, 1908

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Article Text

PEOPLE WHO COME AND GO Doings of a Few of The People, Local and Otherwise. Manager Egan of the Springs, is spending the day in town. He reports the weather cold but the water as warm and fine as ever at his resort. Attorney General Stoddard has departed for Tonopah where he will appear in court in the matter of the receivership for the Round Mountain Banking Corporation which suspended business on the 5th inst. Attorney Geo. S. Green of Reno, is spending the day in this city on legal business as the attorney of Receiver Wildes. U. S. Deputy Marshal Stern has returned from an official visit to Ely. Judge Denny was a departure last evening for Salt Lake. James J. Corbett, the well known boxer, is starring in "Facing the Music," which is being presented at the present time at Tonopah. Fleckner is filling his candy boxes Across from the V. & T. Depot. with whipped cream chocolats, cream nut centers, nut Italian nougats, nut French nougats, fruit center chocolates, chocolate dipped almonds, marshmailows and many more delicate, delicious, well-fiavored creams, our boxes are neat and tasty. Across from the V. & T. Depot.


Article from Tonopah Daily Bonanza, January 6, 1909

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Article Text

INSPECTED DEFUNCT BANK R. P. Dunlap, who was appointed receiver for the Round Mountain Banking corporation some time ago by the district court, returned from the northern camp last evening. He has spent the past several days in Round Mountain examining into the affairs of the defunct banking institution. As to the amount that the creditors would receive, Mr. Dunlap stated that he was unable to give the required information as he did not know the amount that could be realized on the assets. He further stated that the rumors that had been spread around as to the amount of money the depositors would receive, had no. foundation whatsoever, and had been started by parties who were not in any way familiar with the conditions of the bank. The rumors referred to were those to the effect that the bank would only be able to pay 10 cents on the dollar to the depositors and creditors.


Article from Tonopah Daily Bonanza, February 7, 1909

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Article Text

BANK STATEMENT TO BE MADE. A Round Mountain depositor of the late defunct bank of that place writes the Daily Bonanza asking when the depositors will be paid and a statement given to the public. In reply the Bonanza has investigated affairs and finds that a full and complete statement of the condition of the Round Mountain Banking Corporation has been' published in the Round Mountain Nugget, together with a letter from the receiver, showing the situation at the time he took charge, January 2, 1909. On