14646. State Bank and Trust company (Tonopah, NV)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
August 31, 1912
Location
Tonopah, Nevada (38.067, -117.230)

Metadata

Model
gpt-5-mini
Short Digest
ff6dd5ad

Response Measures

None

Description

The articles consistently describe the institution as 'defunct' and under receiver Frank L. Wildes. No articles describe a depositor run; the bank had already closed and was in receivership, with dividends being declared by the receiver and litigation (libel suit) involving the receiver. Thus this is a suspension that resulted in permanent closure/receivership.

Events (4)
1. August 31, 1912 Receivership
Newspaper Excerpt
THIRD DIVIDEND OF TEN PER CENT IS DECLARED BY RECEIVER OF DEFUNCT STATE BANK CO. Frank L. Wildes, receiver of the long defunct and practically forgotten State Bank and Trust company, has declared a dividend of 10 per cent, the third to be declared since the bank was forced to close its doors.
Source
newspapers
2. May 5, 1913 Other
Newspaper Excerpt
Receiver Frank L. Wildes of the State Bank and Trust company, has started a libel suit against the Tonopah Bonanza, claiming that paper has damaged him to the extent of $30,000.
Source
newspapers
3. March 31, 1914 Other
Newspaper Excerpt
WILDES DISMISSES DAMAGE SUIT AGAINST BONANZA Frank L. Wildes, receiver for the defunct State Bank and Trust company, has dismissed his suit against the Tonopah Bonanza Publishing company...
Source
newspapers
4. July 25, 1914 Other
Newspaper Excerpt
PETITION FOR REMOVAL OF WILDES AS RECEIVER A. W. Briggs of Tonopah came over from the silver camp this morning to circulate a petition for the removal of Frank Wildes as receiver of the State Bank and Trust company.
Source
newspapers

Newspaper Articles (7)
1. August 31, 1912 Tonopah Daily Bonanza Tonopah, NV
Article from Tonopah Daily Bonanza, August 31, 1912

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Article Text

THIRD DIVIDEND OF TEN PER CENT IS DECLARED BY RECEIVER OF DEFUNCT STATE BANK CO. Frank L. Wildes, receiver of the long defunct and practically forgotTHREE DAYS ten State Bank and Trust company, has declared a dividend of 10 per cent, the third to be declared since BEFORE DATE OF the bank was forced to close its doors. Shortly after Wildes was placed THE PRIMARIES in charge of the affairs of the bank, and when there happened to be considerable negotiable assets, two diviINTEREST IS INCREASING AND dends of 10 per cent each were dePOLITICAL DISCUSSIONS clared. Since that date all funds WAXING WARM. received have been used in maintaining the expense of the receivership. The 10 per cent dividend lately But three more days will elapse declared has been mailed to the debefore the primary election will be positors and others having claims held and with the date rapidly drawagainst the institution. As proof that ing near, increased interest is to the dividend has been declared the be noted on the part of the candiBonanza this morning received a dates and their supporters, who are check for 62 cents in payment of a endeavoring to weather the several claim against the defunct institution. contests. When the suits brought by Wildes The ballot boxes and supplies have against the directors of the bank been delivered to the various prewere settled about two months ago cincts in Nye county, of which there It was predicted then by Wildes that are 20 outside of Tonopah, and the a. dividend would be declared. Very necessary officials sworn in and little faith was placed in the promready to take up their duties. It is ise, but the developments of today believed that a light vote will be prove that the predictions were based polled throughout the county and upon facts. the official returns should be made

2. May 5, 1913 Tonopah Daily Bonanza Tonopah, NV
Article from Tonopah Daily Bonanza, May 5, 1913

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Article Text

Conservative Capital During the early history of practically every new mining camp there is money in plenty to carry on prospect development work, says the Mining Record. Particularly is this true if the first showings made are rich, such as to attract wide attention. Following this early period, however, there usually comes a time when interest begins to slacken, as the rich surface ores are exhausted, and deeper work must be done to prove the real merits of the camp. When such a period has arrived in the history of any camp, there have aways been found those who were willing to risk additional money, to spend the time and the effort in carrying through the necessary development work. Perhaps, though, a camp may have "made good" from the beginnnig. Rich surface ores may have been plentiful, and leading direct to ore bodies that give steady results. Whichever the case, when the merits of the camp have been fully proven, comes the time when conservative capital is at last interested and is willing to undertake further work, taking over and carrying on work at well established properties, or of taking up development work at prospect properties where the indications look good for the future. Something like this is now in evidence at Cobalt, where it is reported that as many properties have changed hands during the past quarter as were transferred during the three years previous. Most of these properties, too, have been taken by English capital, where interest is being awakened now that there is no question but what the mines of Cobalt are able to pay profits. When a camp has fully proven its merits then is the time when conservative capital consents to take hold. To the capital that is willing to take a few risks belongs the profits that come from speculative work. Conservative capital is willing to wait until it is absolutely shown that profits may be secured from work in that particular camp. Receiver Frank L. Wildes of the State Bank and Trust company, has started a libel suit against the Tonopah Bonanza, claiming that paper has damaged him to the extent of $30,000. The Bonanza, like nearly every other paper in the state, took occasional raps at the bank receiver, and the many expression set forth in the different publications seemed to have made a hit with the general public, and especially with those who lost money in the State bank when the crash came. Bill Booth, editor of the Bonanza, seems to be losing little sleep over the prospect of having to dig up thirty thousand bucks. He declares the suit will work out fine for his advertising, on account of the publicity it will give his paper. Receiver Frank Wildes of the State Bank and Trust company, has entered a suit against Editor W. W. Booth of the Tonopah Bonanza. Mr. Wildes Asks $30,000 for libel. Booth is known from one end of the state to the other as a writer who handles a subject withoùt gloves and both before and after the investigation of the above receivership by the recent legislature, the Bonanza was very free in saying what it thought of the

3. June 9, 1913 Tonopah Daily Bonanza Tonopah, NV
Article from Tonopah Daily Bonanza, June 9, 1913

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Article Text

# BONANZA LIBEL # SUIT BE TRIED # IN NYE COUNTY ACTION IS TRANSFERRED FROM JUDGE LANGAN'S TO JUDGE AVERILL'S COURT. Strenuous objections on the part of Attorneys for Frank L. Wildes, receiver of the State Bank and Trust company, now undergoing investiga- tion by the attorney general, marked the move by Attorney William For- man to have the famous $30,000 libel suit instituted by Wildes against the Bonanza transferred from Judge Lan- gan's court at Carson to the Fifth Judicial district court at Tonopah. The petition asking that the suit be transferred was filed Saturday by Forman and the objections were duly entered by Wildes. Judge Langan finally agreed to the transfer when it was clearly shown that the Bonanza was entitled to have the case determined in this county. Wildes brought suit against the Bonanza charging defamation of character.

4. March 31, 1914 The Silver State Winnemucca, NV
Article from The Silver State, March 31, 1914

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Article Text

WILDES DISMISSES DAMAGE SUIT AGAINST BONANZA Frank L. Wildes, receiver for the defunct State Bank and Trust company, has dismissed his suit against the Tonopah Bonanza Publishing company asking for judgment for $30,000 damages alleged to have been sustained through publication in the Bonanza of an article accusing Wildes of malfeasance in office. "The case had been set for hearing on April 6 before a jury," says the Bonanza, "and the dismissal is a confesion that the plaintiff was in error in instituting the suit and that there was no ground for the claim. This suit was field on the 22d day of April, 1913, and since that time the plaintiff has by all sort of subterfuges delayed a hearing on the merits and now, after almost a year of proerastination, comes into court and ad mits there is no foundation for the demand." The Bonanza adds: 'At this stage the Bonanza can only state that it regrets that the suit did not come to trial, as depositors would have liked to have seen Frank L. Wildes in Tonopah and have an opportunity of ask. ing him a few pertinent questions."

5. April 5, 1914 White Pine News Weekly Mining Review East Ely, Ely, NV
Article from White Pine News Weekly Mining Review, April 5, 1914

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Article Text

# LIBEL SUIT DISMISSED. Frank L. Wildes, receiver for the defunct State Bank and Trust company, has dismissed his suit against the Tonopah Bonanza Publishing company asking for judgment for $30,000 damages alleged to have been sustained through publication in the Bonanza of an article accusing Wildes of malfeasance in office. "The case had been set for hearing on April 6 before a jury," says the

6. June 29, 1914 Tonopah Daily Bonanza Tonopah, NV
Article from Tonopah Daily Bonanza, June 29, 1914

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Article Text

Bradshaw and John G. Kirchen all arrived back in Tonopah yesterday morning from the Mine Operators' meeting in Reno. FRANK L. WILDES, receiver of the State Bank and Trust company, accompanied by his attorneys, Herr & Green, are here in connection with a case in the district court. Among the visitors to Manhattan yesterday were Arthur Raycraft, J. Wesley Stewart, W. J. Webster, Jim C. Martin and C. C. Boak, who autoed over in the Stewart machine. C. F. WITTENBERG, wife and family, Mr. and Mrs. R. H. Burdick and children, and Mrs. Gladys Smith, of Rawhide, motored over to Peavine

7. July 25, 1914 The Goldfield News and Weekly Tribune Goldfield, NV
Article from The Goldfield News and Weekly Tribune, July 25, 1914

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Article Text

PETITION FOR REMOVAL OF WILDES AS RECEIVER A. W. Briggs of Tonopah came over from the silver camp this morning to circulate a petition for the removal of Frank Wildes as receiver of the State Bank and Trust company. The petition asks for the appointment of Former Governor Jewett W. Adams in the event of the removal of Wildes from the receivership.