Pioneer Banking Corporation

Episode Information

Episode UID: 5523686991315
Episode Type: Suspension → Closure
Bank Type: state
Bank ID: 552368699 hash
Start Date: July 1, 1909*
Location: Pioneer, Nevada (38.804, -116.806)

Metadata

Model: gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest: 4acd6a967fbe923a

Response Measures

None

Description

Article states the bank had closed earlier and directors are liquidating and paying depositors in full.

Events (1)

1. July 1, 1909* Suspension

Cause: Voluntary Liquidation
Cause Details: Bank had closed some time earlier; directors handed over funds to liquidate and to settle claims without loss to depositors.
Newspaper Excerpt: would liquidate and pay its depositors dollar for dollar.
Source: newspapers

Newspaper Articles (1)

1. July 27, 1909 Carson City Daily Appeal Carson City, NV

Article from Carson City Daily Appeal, July 27, 1909

Click image to open full size in new tab

Article Text

RAILROAD COMMISSION NOW WANTS REDUCTION ASKS FOR FROM 15 TO 30 PIONEER BANK LOCAL COUPLE PER CENT OFF ON DOMESTIC TARIFFS MARRIED LIQUIDATES The Railroad Commission yesterWord was received in this city A marriage license was issued yesday notified two raiiroads operating yesterday to the effect that the Pioterday by the County Clerk to Leroy in this State that their freight rates neer Bank ing Corporation of Pioneer T. (Booth and Miss Hazel Hofer of ought to be reduced from 15 to 30 Nevada, which closed its doors some this city and the marriage of the per cent. on all interstate traffic. time ago would liaquidate and pay well known young people took place A hearing in this matter will be its depositors dollar for dollar. Bank in Reno last evening, after which heard before the commission on Examiner Van Fleet left for Pioneer they departed for California where August 17, at which time the railseveral days ago to take charge 01 they WIN spend some time before road companies will be given an opthe bank and it is through his efforts returning to this city to make their portunity to show cause whv the rethat the affairs of the bank are befuture home. duction asked for by the commission ing straightened out in such a satisBoth are well known residents of shall not be made effective. factory manner. this city. The groom is employed The notice has been sent to the Word was received from Mr. Van in the train dispatchers office of the Southern Pacific Company effectFleet today to the effect :hat the diV. &. T. Ry., and the bride is the ing the line of the Central Pacific rectors of the institution had handed daughter of T. R. and Mrs. Hofer railroad in Nevada and to the Neover to him the necessary money and was born and reared in this city. vada California railroad running beto liquidate and that by the close 01 or some time past she has been ween Hazen and Mina. businees today all claims against the employed as a clerk in the local The text of the notice to the institution of every nature would be postoffice. Southern Pacific is as follows: settled. As the couple stole a march on [BEFORE THE RAILROAD COMAt the time the institution closed their many friends in this city conMISSION OF NEVADA its doors there were only about $15,gratulations will be in order upon To the Southern Pacific Company: 000 in deposits on the books and this Their return. amount was made good by the diYou are hereby formally notified rectors, who under the new banking that the commission believes your ACCEPT ROBINSON STREET law of the state, would have been entire schedule of class rates upon The city council met last night and held personally responsible for the interstate freight, within the state of accepted the extension of Robinson deposits and the greater part of them Nevada upon the main line of the street to the Rickey tract from the had been acquired 30 day previous Central Pacific railroad, is excessive, Rickey estate. The Crowell map of to the closing of the bank. unjust, unreasonable and discriminthe new addition to the west limits atory: that this commission further of the city was accepted. Price of [Bank Examiner Van Fleet was in believes that all of such class rates Pioneer at the time the bank closed the land for the extension of the should be reduced 30 per cent from and took personal charge of affairs street was fixed at $300. the present charges, and that the with the result that by tonight the subject should be thoroughly investibusiness of the institution will be Judge Langan was an arrival from gated, as provided for in subdivision entirely settled without the loss of a Virginia City this morning to hold a "b," of section 12, of the so-called seession of the District Court here. single dollar to the depositors and railroad commission law of this state creditors of the bank. which law is more specifically ellNo definite action has a yet been titled: taken by the bank commission as re "An act to regulate railraods, te! gards the Bullfrg Bank and Trust egraph and telephone companies and Company of Rhyolite which closed other common carriers in this state, its doors a short time ago but it is creating a railroad commission, conunderstood that efforts are being stituting the governor, the lieutenant made to adjust affairs in the same governor and the attorney general, a manner as with the Pioneer bank R G railroad porad for the appointment. and thus eliminate the appointment and removal of the railroad commisof a receiver for the institution. sioners, prevent the imposition of The bank examiner will probably unreasonable rates, prevent unjust go direct from Pioneer to Rhyolite discromination, insure an adequate and take up the matter of the Bullrailway service, and fixing maximum frog bank and endeavor to have the freight charges. directors arrange for a liquidation of "Approved March 5, 1907." all claims. As amended March 20, 1939.