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THE BANKING LAW. With the passage of assembly bill No. 173, introduced by Coxe of 'Lincoln county, the one mèritorious act of the late session of the legislature was accomplished. This act alone almost made up for the many things that had been neglected by the body which adjourned sine die yesterday. The citizens of the entire state, especially those of Tonopah, feel indebted to Mr. Coxe for the introduction of the measure and grateful to the legislature for adopting it. Had Coxe not, at a later date, introduced the bill' which called for the taxing of druggists $200 for the handling of alcohol, he would have been the hero of the session. With the new banking law in effect, Mr. Eugene Howell, cashier of the Tonopah Banking Corporation, will assume charge of the State Bank & Trust Company and of the Nye & Ormsby County banks. Mr. Howell, in the capacity of state bank examiner will be aided in this work by the state banking board. That the bank examiner will legislate the affairs of the defunct institutions to the best possible advantage and in the interest of the depositors, goes without saying. Mr. Howell is well known throughout the state, in banking circles, while in Tonopah he is one of the foremost citizens. He enjoys the entire confidence of the public and it may be depended upon that that confidence will not be abused. Under the new law the receivers of the two erstwhile local banking institutions go down and out. A fact that should cause rejoicing in the hearts of all who were unfortunate enough to have money on deposit when the banks went to the wall. The useless expense of salaries for receivers and receivers' assistants, not to mention the many thousands of dollars that have gone to foreign attorneys in fees, will be eliminated entirely and the depositor will have some chance of recovering a little of his hard-earned coin. The money will all stay at home instead of going to Reno and Carson. Just how much is left in the .wrecked banks for the benefit of depositors it is impossible, at the present time, to estimate. However, what is left is theirs and they will get it. In the future it is believed that dividends will be thicker and larger than they have in the past. Not since April 10, 1909, has a dividend been paid-and that one only of five cents-notwithstanding the fact that considerable of a revenue has been forthcoming to the receiver. Just what has been done with the $4000 paid by the Elks for their building, just what has become of the $8000 which was recently secured for a block of Big Four stock, just what has become of the rents from the State Bank & Trust building in Tonopah and the one in Carson, are questions that it will be up to the receiver to answer as soon as the state's representatives take hold of the bank's affairs. This bill is now in the hands of the governor for his signature, and it is to be hoped that. after due consideration, he will affix his signature to the "one best bet" of his late refractory legislature.
