14621. Searchlight Bank & Trust Company (Searchlight, NV)

Bank Information

Episode Type
Suspension → Closure
Bank Type
trust company
Start Date
December 19, 1907
Location
Searchlight, Nevada (35.465, -114.920)

Metadata

Model
gpt-5-mini
Short Digest
52b273fc

Response Measures

None

Description

Articles (Dec 1907–Jan 1909) describe the Searchlight Bank & Trust Company becoming insolvent, suspension and court/receiver actions. No article describes a depositor run; the institution was turned over to a receiver and remained defunct. Key allegations: president H. Taber (Tabor/Taber OCR variants) hypothecated securities and used funds in private enterprises; assets far below liabilities. Dates: suspension noted Dec 19–20, 1907; examiner/receiver requests Dec 20, 1907; formal receiver appointment actions in Jan 1908. OCR variants of president's name (Taber/Tabor) present in source; I preserved 'H. Taber' as in article 1 but noted possible 'Tabor' in later reporting.

Events (5)
1. December 19, 1907 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Allegations that President H. Taber hypothecated negotiable notes and securities to raise funds which were used in his private enterprises; institution 'gutted' of negotiable notes and securities.
Newspaper Excerpt
PRESIDENT IS BLAMED For Suspension of the Searchlight Bank ... it is alleged that the money was used by President H. Taber in private enterprises.
Source
newspapers
2. December 20, 1907 Receivership
Newspaper Excerpt
The committee in charge of the Searchlight Bank and Trust company, has wired the bank examiner to come at once, and take charge of affairs and appoint a receiver.
Source
newspapers
3. January 3, 1908 Other
Newspaper Excerpt
ASKS FOR RECEIVER For the Defunct Searchlight Bank. ... Attorney General Stoddard has filed a suit ... asking that Geo. T. Mills ... be appointed receiver of the Searchlight Bank. ... assets of the institution are given at about $6000 and the liabilities $28,000.
Source
newspapers
4. January 15, 1908 Receivership
Newspaper Excerpt
In the District Court ... accepting the resignation of George T. Mills as receiver of the Searchlight Bank and Trust Company and appointing Benjamin McCready as receiver at the request of the depositors.
Source
newspapers
5. January 22, 1909 Other
Newspaper Excerpt
CASHIER MUST FACE CHARGES ... Accused, with President, of Having Received Deposits, Knowing Institution Was Already in Insolvent Condition ... indictment ... charged with receiving deposits after knowing that the bank ... was in an insolvent condition.
Source
newspapers

Newspaper Articles (12)
1. December 20, 1907 Carson City Daily Appeal Carson City, NV
Article from Carson City Daily Appeal, December 20, 1907

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Article Text

PRESIDENT IS BLAMED For Suspension of the Searchlight Bank Loaned Himself Funds SEARCHLIGHT. Nev., Dec. 19.At ameeting of the depositors of the Searchlight Bank & Trust Company held last evening, a committee reported that securities owned by the bank have been hypothecated to McCormick & Company of Salt Lake for the sum of $15,000. and it is alleged that the money was used by President H. Taber in private enterprises. It is also asserted that the institution has been gutted of all its negotiable notes and securities, the same having been hypothecated and the funds used in private enterprises of Taber and his associates. The committee states that criminal proceedings will be instituted against every one involved in the transactions.

2. December 21, 1907 Arizona Republican Phoenix, AZ
Article from Arizona Republican, December 21, 1907

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Article Text

NEEDS A RECEIVER Searchlight, Nev. Dec. 20.-The committee in charge of the Searchlight Bank and Trust company, has wired the bank examiner to come at once, and take charge of affairs and appoint a receiver.

3. December 21, 1907 Los Angeles Herald Los Angeles, CA
Article from Los Angeles Herald, December 21, 1907

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Article Text

Ask Receiver for Bank By Associated Press. SEARCHLIGHT, Nev., Dec. 20.-A committee in charge of the Searchlight Bank and Trust company has wired for a bank examiner to come at once to take charge of affairs and appoint a receiver.

4. December 27, 1907 The White Pine News Ely, NV
Article from The White Pine News, December 27, 1907

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Article Text

REVEIVER WANTED FOR BANK SEARCHLIGHT, Dec. 26.-A committee in charge of the Searchlight Bank & Trust company has wired for a bank examiner to come at once to take charge of affairs and appoint a receiver.

5. January 3, 1908 Carson City Daily Appeal Carson City, NV
Article from Carson City Daily Appeal, January 3, 1908

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Article Text

ASKS FOR RECEIVER For the Defunct Searchlight Bank. Mills Qualifies In accordance with a law passed the last legislature Attorney General Stoddard has filed a suit in the District Court of this city in the name of the Nevada Bank Commission asking that Geo. T. Mills of this city be appointed receiver of the Searchlight Bank. Mr. Mills has filed a bond in the amount of $15,000 to act in that capacity. The case will be heard before Judge Langan at the next session of the district court. in this city and will then probably be transfered to Lin coln county where the defunct bank is located. A receiver will then be appointed from among the depositors and Mr. Mills will then be relieved. At the present time there is an attachment against the property of the bank for $100 and unless a receiver was appointed the property would be sold to pay the attachment. The assets of the institution are given at about $6000 and the liabililies $28,000.

6. January 3, 1908 Weekly Independent Elko, NV
Article from Weekly Independent, January 3, 1908

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Article Text

FROM MONDAY'S DAILY Mr. 11. J. Mayham and Mr. B. W. Carlow went to Tuscarora yesterday to look over the situation. They will re. turn to morrow night Only one more day to get your new year resolutions in shape Be sure to have them ready to put in force carly Wednesday morning. Mr. Wintermantel is contined to his bed with typhoid fever. He LS getting along nicely and no serious results are feared. Hope he will FOOD be out. Major Miller has telegraphed Govern. or Sparks that the Searchlight bank In no COID at all and it is insolvent. He will remain ID charge of the bank until a receiver is appointed. The funeral of Ray Mitchell took place from the Episcopal Church Sunday afternoon and was attended by many friends of the family. Peace to his ashes. James Mahoney, an account of whose crime we published Saturday, died at the prison last Friday. He was a native of !reland, aged 79 years, and leaves two daughters, Mrs. Huling of Virginia City and Mrs. Wagner of San Francisco. The chairmen of the various Christmas tree committees should not fail to be at Attorney Hendereon's office at 7 o'clock this evening. Their presence is necessary ID order that all bills contracted by their committees CAD be settied. A new force took charge of the Western Union office this afternoon. C. S. Morgan, auditor from the general superintendent's office at San Francisco, checked up the accounts. T. J. Smith of Oakland will have charge of the office with Harry A. Piercy of Sacrsmento no assistant. The Goldfield situation bas forced Governor Sparks into H delicate position, but he should not fail to act for what he and his advisers deem to be the best interests of the state. Telegrams assuring him of the euppor! of the people of Elko county ID any action he may take for the preservation of law and order at Goldfield were sent from here this forenoon. Billy Booth, publisher of the Bonanza, has been remonstrate with by a few people for his attitude toward the banks, Billy Booth desires to state to the public, that 80 long no he can pay his printers, and has money for the purchase of printer's ink, he will continue his attacks on the banks until the depositors are satisfied that they have received a square deal at the hands of the banks.-Tonopah Bonanza. One of the counterfeit ten-dollar pieces which have lately made their appearance 11) town was melted down by L. H. Hubbard, a local assayer, and found to contain only about lifty cents in gold, the remainder being copper. It WAS thought by many that the phony coms contained a reasonable amount of gold, but this test proves that they are only plated and bogus to the core and without intrinsic value. So look out for them.-Humboldt Star. J. N. Bryan, propristor of the skating rink, WAS fined $200 and costs in Judge Brissell's court this morning for gambling with minors. This is the minimum fine and his honor in pronouncing sentence stated that he would imposo the maximum penalty for a second offense. He further stated that it was his intention to break un the gambling parties

7. January 8, 1908 The White Pine News Ely, NV
Article from The White Pine News, January 8, 1908

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Article Text

Attorney General Stoddard has begun proceedings in the Ormsby district court for the appointment of a receiver for the Searchlight bank. The petition asks that George T. Mills of Carson be appointed temporary receiver. President Taber, Director Hansen and about a dozen other "John Does" are named as defendants. It was necessary to begin the proceedings in Ormsby county in order to prevent the sale of some of the bank's property now under attachments. The total assets of the bank now located amount to about $6,000 and the liabilities to about $28,090.

8. January 10, 1908 Weekly Independent Elko, NV
Article from Weekly Independent, January 10, 1908

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Article Text

Salmagundi. FROM SATURDAY'S DAILY. AD P ssenger truibe is reported OD time wright. Mrs. Joseph Harris returned from Carson this morning. Judge Brown left for Ely this forenoon to finish up the court business left over from the holidays. The joint installation of Pythian Sisters and Knights of Pythias will be held on the evening of January 7th. Sie the corrected notice. Judge Farrington has continued the suit of the Goldfield mine owners against the Golafield Miners' Union, in which a perpetual injunction :8 asked, until January 10 b. Slow progress is being made ID the resoure of the entombed miners at Ely. At present, the rescurers can make only ten feet a day, and at last accounts had 425 feet to go. The men are III good health and seem cheerful. Col R ynol Is has left Goldfield, leav ing Major Krebs ID command. The force will be reduced to 136 men, 111cluding officers They will probably go iDto winter quarters in the Columbia hotel. Governor Sparks has offered a reward of 8500 for the arrest of the murderers of George Brown, the man who was killed ID the robbery of the Jargstorff hotel at Reno. The commissioners of Washoe county have offered a reward of $300 for the enme purpose. William Barnes Paine committed suicide at Yermgton Wednesday afternoon by shooting himself in the mouth, the bullet going throuh his head and earry. mg to the ceiling a quantity of bair. He had been brooding over imaginary troubles for some time. He was buried by the Yerington Engles A few days ago Attorney Jurich of Ety and James Doran went to Rieptown and held up asaloon and gamblinghouse and took 8190 from the roulette wheel and cash register. Doran claimed that he WAS a partner in the place and was unable to draw down any of the profits. Jurich held the crowd back with a gun, while Doran gathered the money. Both men are under arrest for robbery. Attorney-General Stoddard has begun proceedings in the Ormeby district court for the appointment of a receiver for the Searchlight Bank. The petition asks that George T. Mills of Carson be appointed temporary receiver. President Taber, Director Hansen and about a dozen "John Does" are named as defendants. It was necessary to begive the proceedings in Ormsby county in order to prevent the sale of some of the bank's property now under attach. ments. The total assests of the bank now located amount to about $6,000 and the liabilities to about $23,000. Mr. and Mrs. J. A. McBride celebrated the twenty-fifth anniversary of their marriage last night. A few invited guests assembled at their residence last night and extended their congratulations and partook of the gool cheer placed before them. The evening was spent in social conversation, 10 which

9. January 15, 1908 Carson City Daily Appeal Carson City, NV
Article from Carson City Daily Appeal, January 15, 1908

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PERMANENT RECEIVER. In the District Court yesterday morning an order was made by Judge Langan accepting the resignation of George T. Mills as receiver of the Searchlight Bank and Trust Company and appointing Benjamin McCready as receiver at the request of the depositors. Mr. McCready is from Pioche, Lincoln County.

10. January 25, 1908 The Pioche Weekly Record Pioche, NV
Article from The Pioche Weekly Record, January 25, 1908

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# Local and Personal Hammond & Fuller can deliver wood, cut any length, for cooking or heating purposes; $4 a tier Subscribe for the RECORD for the county seat news. Leave your wood orders at Hodges-Cook Cos' store. Hammond & Fuller Sheriff Smith spent a few days in Pioche the fore part of the week. Have your wood delivered, cut any length desired; full measurement and the price most reasonable. Good quality printing at right prices-Send your orders to the RECORD. Col. W. B. MacSherry made a flying business trip to Salt Lake City this week. A. McCauley of Salt Lake City, arrived Tuesday evening and will accept a position at the Prince mine. Mrs. Vickey of Portland, Oregon, is in Pioche visiting with her brother, James C. Healy and wife. Dr. W. P. Murray of Caliente and a large owner in the X-Ray Mining Company who are operating in the Highland District, spent Sunday last in Pioche. Richard Chope, foreman for the Prince Consolidated Mining Company, returned from a few weeks' visit to Salt Lake City Wednesday last. "Gus, the tamale man," is having a building erected on the Stine lot, north of the Club Saloon, and will conduct in same, when completed, a first-class chop house. J. B. Wheeler was a passenger for Salt Lake City Wednesday last, where he went to be in attendance at the Dry Farming Congress which has been in session there during the past week. Special meeting of the Ladies' Guild will be held Thursday, January 30th, at Mrs. Christian. Business of importance. All members requested to be present. MRS. J. D. CAMPBELL, Secretary. Ed. W. Clark, County Treasurer and Chris N. Brown of the Las Vegas Bank, Inc. came in from Las Vegas Sunday night. Mr. Clark will remain in Pioche for some days. Mr. Brown returned Tuesday morning. We are informed that Bishop Spaulding has promised a visit to Pioche shortly. We will be pleased to welcome the bishop at any time, for his services are noted among the local people as being both interesting and instructive. Wm. Lloyd and John R. Cook, returned from Los Angeles the fore part of the week. Lloyd has been in Arizona looking over some very promising mining claims which he and other Pioche people are interested in. He reports conditions as he found them to be most favorable. Mrs. J. E. Price entertained a number of relatives at a surprise party Thursday evening last, the occasion being the fiftieth birthday of Jas. E. Price. Card games and music were indulged in during the evening and a most delicate lunchon was served by the hostess. Mrs. Hover and daughter arrived from Los Angeles Wednesday last, and are guests of the Hotel Cecil. We have been informed that they have under consideration the remodeling of the dining room at the Hotel Cecil and of conducting a first-eating establishment, which will be thrown open to the public some time during March. The case of the State Bank Commission against the Searchlight Bank and Trust Company has been transferred from the First Judicial District to the Fourth Judicial District, this county. Geo. T. Mills who was at first appointed receiver has resigned and Benj. Macready of Searchlight has been appointed as permanent receiver. Mac-

11. February 20, 1908 The White Pine News Ely, NV
Article from The White Pine News, February 20, 1908

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BANK FOUND DEPLETED. While in this city Bank Examiner Miller stated that his examination of the defunct Searchlight band disclosed a most deplorable condition. When he arrived at Searchlight and went to the bank he found the banking room almost bare, destitute of fuel and not enough money about the place to even purchase wood. Mr. Miller bought wood and after making a fire conducted an examination of the books. He found no funds in the bank vault; it was entirely empty. He did find a bag containing jewelry but later developments showed that the jewels belonged to a depositor. Later some securities were located, but as Examiner Miller had turned the entire affair over to the receiver appointed by the court he did not know how the affair finally resulted.-Carson News.

12. January 22, 1909 Los Angeles Herald Los Angeles, CA
Article from Los Angeles Herald, January 22, 1909

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CASHIER MUST FACE CHARGES REQUISITION PAPERS FROM NEVADA HONORED SEARCHLIGHT BANK OFFICIAL UNDER INDICTMENT Accused, with President, of Having Received Deposits, Knowing Insti= tution Was Already in Insol= vent Condition Charged with receiving deposits after knowing that the bank of which he was cashier was in an insolvent condition, S. E. Williamson of the defunct Searchlight Bank and Trust company, Searchlight, Nev., will be compelled to appear in a local justice court and defend himself in proceedings wherein he is declared a fugitive from justice. He was arrested today in Pasadena by Special Deputy Sheriff Rouse. Homer G. Tabor, president of the same institution, is also wanted to explain why money was received by the insolvent bank. He is now believed to be in San Digeo, and officers have been sent to place him under arrest. Tabor is well known in Los Angeles, at one time being connected as an officer of the ill-fated West Side bank of this city, the affairs of which have been made the subject of much investigtaion by the present grand jury. The indictment on which the warrant of arrest received here is based is only one of nineteen distinct charges brought against Williamson and Tabor by the grand jury of Lincoln county, Nev. This indictment was returned September 19, and the specific charge is that the two bank officials received $725 from John Howe, nineteen days after they knew the bank was insolvent. Requisition papers for the return to Searchlight of Williamson and Tabor have been honored by Governor Gillett. The West Side bank, of which Tabor was once an officer, is now in the hands of a receiver.