14638. State Bank & Trust Company (Tonopah, NV)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
March 22, 1921
Location
Tonopah, Nevada (38.067, -117.230)

Metadata

Model
gpt-5-mini
Short Digest
ceaab3e3

Response Measures

None

Description

The articles describe a long-running receivership of the State Bank & Trust Company (14 years as of 1921) and court proceedings to sell assets and close the receivership. No bank run is described; the institution is treated as defunct and in receivership (permanently closed). Minor OCR corrections: 'Carso City' -> Carson City; 'Nevada First National' / 'First National bank of Tonopah' refer to the purchaser bidder.

Events (5)

1. March 22, 1921 Receivership
Newspaper Excerpt
The hearing yesterday at Carson City ... on the motion to dissolve the receivership of the State Bank & Trust company, which has been conducted by Frank Wildes ... for the past 14 years.
Source
newspapers
2. February 24, 1922 Receivership
Newspaper Excerpt
The State Bank & Trust company receivership proceedings are again looming. ... a hearing will be had before Judge Frank P. Langan at Carson City, when Receiver Frank P. Wildes will appear to show cause why the assets of the defunct institution should not be sold and the receivership brought to an end.
Source
newspapers
3. April 11, 1922 Receivership
Newspaper Excerpt
Assets of Defunct State Bank & Trust Company Sold by Order of Judge Langan. Sale of the assets ... The bid of the First National bank of Tonopah offering $30,000 for the five-story banking building in Tonopah was received and the sale was made subject to the confirmation by the court.
Source
newspapers
4. May 24, 1922 Receivership
Newspaper Excerpt
Judge Frank P. Langan ... disapproved of the sale of the property of the State Bank & Trust company, which was offered at auction several weeks ago by Receiver F. L. Wildes ... The attorney-general and the attorney for the receiver were authorized to make an effort to dispose of the property by private sale, failing in which another sale at auction will be advertised.
Source
newspapers
5. February 22, 1923 Receivership
Newspaper Excerpt
March 8 has been set by Judge G. A. Ballard for hearing ... on a petition of Frank L. Wildes, receiver of the State Bank & Trust Company, praying for confirmation or rejection of an offer of $30,000 for the State Bank building at Tonopah.
Source
newspapers

Newspaper Articles (5)

Article from Tonopah Daily Bonanza, March 22, 1921

Click image to open full size in new tab

Article Text

RECEIVERSHIP DISSOLUTION HEARIN IN APRIL The hearing yesterday at Carson City in Judge Langan's court on the motion to dissolve the receivership of the State Bank & Trust company, which has been conducted by Frank Wildes and an expensive bookkeeper for the past 14 years, was put over until April 16. Attorney General Fowler. who asked to dissolve the receivership, found that no reports had been filed for years, and the judge made an order that Wildes must file reports from 1916 to January, 1921, and that a new surety bond for the receiver be filed at once One of the receiver's bondsmen has been dead for years. During the legislative investigation Wildes testified before the committee that the reason he had not filed reports was because Judge Langan would not permit him to do so. While testifying before the joint session he denied having made this statement, and it is upon this testimony that he is to be tried for perjury. Langan says he is anxious to close up the affairs of the State bank. The people of the state of Nevada think he should be, after 14 years work on a situation which could have been cleared up insdre of a year. This State Bank fiasco has created a strench in Nevada that cannot be wasted out by all the disinfectants in the world. It now looks as If Wildes will wind up as the owner of the State Bank & Trust company building in Tonopah, as he claims a large amount is due him for his services as receiver these long 14 years that the poor depositors have been waiting for a settlement. How either Langan or Wildes can look a depositor of the State Bank in the face is more than anyone can figure out Think of a court that would allow a receivership of 14 years' duration with many of the depositors dying in the meantime, some of them in straitened circumstances. What will the next chapter of this mess divulge?


Article from Tonopah Daily Bonanza, February 24, 1922

Click image to open full size in new tab

Article Text

SHADES OF HADES BANK CASE UP AGAIN Shades of hades! The State Bank & Trust company receivership procoedings are again looming. On next Tuesday a hearing will be had before Judge Frank P. Langan at Carso City, when Receiver Frank P. Wildes will appear to show cause why the assets of the defunct institution should not be sold and the receivership brought to an end. Depositors ar now wondering if this nauseous court proceeding will realIv be closed, or if some scheme is not devised whereby a few more paltry dollars may be set aside to swell the earnings of Wildes. Some of the defrauded depositors are considering the advisability of calling a meeting of all stockholders with a view to levying an assessment, the proceeds to be used in paying Receiver Wildes his salary in full in the event it is determined by Langan that the bank building in Tonopah will not bring enough to satisfy the claims.


Article from Tonopah Daily Bonanza, April 11, 1922

Click image to open full size in new tab

Article Text

BANK BUILDING SOLD TO NEVADA FIRST NATIONAL Assets of Defunct State Bank & Trust Company Sold by Order of Judge Langan. Sale of the assets of the State Bank & Trust company was conducted by the receiver, Frank L. Wildes yesterday by order of the court. The bid of the First National bank of Tonopah offering $30,000 for the five-story banking building in Tonopah was received and the sale was made subject to the confirmation by the court. Four years ago this summer the same bank bid $41,000 for the property, but the ale was not at that time authorzed. The Averill lodging house, also in Tonopah. was bid in for $150 by Charles E. Hudson, a San Francisco broker All sales were made subject o approval by Judge Langan. The Crockett building in Tonopah vas purchased by C. E. Hudson for $10.


Article from Tonopah Daily Bonanza, May 24, 1922

Click image to open full size in new tab

Article Text

DEFUNCT BANK SALE IS HELD IN ABEYANCE Advertised Sale of Property Is Set Aside by Ruling of Judge Frank Langan. Judge Frank P. Langan in the district court Tuesday disapproved of the sale of the property of the State Bank & Trust company, which was offered at auction several weeks ago by Receiver F. L. Wildes, who then disposed of it subject to court approval. Judge Langan based his ruling of disapproval on the ground that the printed notice of sale was defective and did not conform to the court order. There was no argument of the merits of the sale or the justness of the prices obtained, except that Attorney H. R. Cooke, urged confirmation of the sale for $30,000 of the company's building in Tonopah. He said that in the event of the property being again offered, the likelihood would be of a smaller price being bid. This item and that of the building owned by the company in Carson City, were the principal items in the sale. Receiver Wildes was present with his attorney, George Green. The state was represented by Robert Richards, deputy attorney-general. who filed objections to the confirmation of the sale on the grounds recognized by the court. The attorney-general and the attorney for the receiver were authorized to make an effort to dispose of the property by private sale, failing in which another sale at auction will be advertised.


Article from The Silver State, February 22, 1923

Click image to open full size in new tab

Article Text

Bank Building Sale— March 8 has been set by Judge G. A. Ballard for hearing in the district court here on a petition of Frank L. Wildes, receiver of the State Bank & Trust Company, praying for confirmation or rejection of an offer of $30,000 for the State Bank building at Tonopah. The offer was made by the Nevada First National Bank of Tonopah, that company having made a similar offer a few months ago.Carson Appeal.