State Bank & Trust Company (Carson, NV)

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TWO BANKS SUSPEND

Institutions in Nevada Mining District Closes Their Doors. Reno, Nev., Oct. 23.-The State Bank and Trust Company, of which T. B. Richey is president, and which has headquarters at Carson, and branches at Goldfield, Tonopah, Manhattan, and Blair, suspended payment to-day. This was due to the inability to realize on stocks which the Sullivan Trust Company gave last year as collateral for a loan of $400,000. The Nye and Ormsby County Bank, of which Frank Golden is president, also suspended. Richey is a large owner in Nevada mining. and has plenty of money to pay all claims. The trouble is simply due to the slump in mining stocks and refusal of banks to loan money on them.

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and that business would be resumed as soon as conditions would permit. The Goldfield bank was closed at 10:45 o'clock and a large crowd stood about the doors in the drizzling rain during the day. It was reported that the Goldfield reserves of currency would be sent to Carson and threats were made by the crowd to wreck the bank if this was attempted. Deputies were stationed at the door and there was no demonstration. C. H. Wise, assistant cashier of the Goldfield branch, declares that the bank has enough money on hand to pay two for one on all obligations. This declaration reassured the depositors, but in spite of this the two other banks, the Nye and Ormbsy and tne John S. Cook suffered from runs. The former paid out $100,000. Both institutions stood the run without a tremor and their officials declare that they will be able to pay all demands without difficulty. When the news that the State Bank and Trust company of Carson, Nevada, with branches in several camps, reached Los Angeles a well known vice president of one of the important local banking institutions was asked what effect the failure might have on local conditions. "Absolutely none at all," he replied. "Los Angeles' business relations with the Nevada camps are of too recent origin to amount to much as yet, at least to enough that any failure there would have any effect here. "We have had knowledge for sometime that the chain of Rickey banks was weak. Several individuals who had deposits in them transferred their accounts to Los Angeles institutions just recently. I understand that the crisis was precipitated by a San Francisco bank's refusing to honor checks on one of the Rickey branches."

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Statement Issued By State Bank At 2:30 o'clock this afternoon a statement was issued by the State Bank & Trust Co. at Carson, in which the recent labor troubles in the southern camps and the steady drain of deposits were given as reasons for the suspension. It states that the bank will remain closed for a time but expresses the belief that there will be no loss to depositors. A statement of resources and liabilities is not given because statements from the branches in the south have not yet arrived.

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ngs in bener

about the adreceiver at the fact that it seems the majority of the ould wait upon the exbank by the state bank will not deny the petition the court, but will allow it to en, and between this date and ursday at 10 o'clock I will take it will enter into communication with rney General Stoddard and learn of d determination in the matter. At the time named. if the information I received does not satisfy, I will appoint a receiver." CARSON, Nev., Oct. 28.-Bank Commissioner Miller has examined the books of both banks here and reports no cause for alarm. Richard Kirman, mayor of Reno, and his associates have offered to take hold of the banks and pay all depositors. F. B. Rickey, president of the State Bank and Trust company, arrived from San Francisco this morning, where he went to secure ready money. He conferred with the directors this afternoon. It is generally relieved here that the bank will resume and pay dollar for dollar.

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RICKEY ENDEAVORING

TO SECURE CAPITAL

WILL REQUIRE TWO MILLIONS TO MEET ALL DEMANDS IN FIVE BANKS.

SAN FRANCISCO, Oct. 28-Strenuous efforts are being made by Thomas B. Rickey, president of the State bank and Trust Company, the institution which closed its doors in five cities of Nevada, Wednesday, to arrange to open for business again this week. Rickey has been in this city for several days in consultation with leading local bankers with a view to securing sufficient cash to meet all the demands of depositors when the bank opens. He estimates that $2,000,000 in cash will be required to pay depositors as soon as the bank's doors are opened. Governor Sparks, of Nevada, has declared a legal holiday until yesterday, in order to give the bank officials an opportunity to realize on the great block of securities which they hold for collateral for loans, but President Rickey thinks that the holidays should be continued a few days longer in view of the conditions of the money market. When seen yesterday at the Fairmont, he said:

"The financial difficulties of the State Bank and Trust Company, in common with all other financial institutions interested in the Nevada gold fields, is primarily due to labor troubles which have so seriously interfered with the development of all mining properties in the state. All calculations have been upset by the continued labor disturbances. Investors have been frightened away. Business men have found it impossible to meet their obligations to the banks, the market for mining securities has become depressed and things are practically at a standstill.

"Our bank has a paid-up capital of $200,000 and a surplus of $204,000. In making loans we have always pursued a most conservative policy. On all clases of mining securities we have never loaned more than one-quarter to one-fifth of their value, so today we have four or five times the value of our outstanding loans in colateral, but the money stringency in New York, the failure of the Knickerbocker Trust Company and the general disposition of people to withdraw their savings and hoard them in safe deposit vaults until the situation clears makes it difficult for us to realize on these securities.

"During the past six weeks we have paid out to depositors $2,000,000, and I estimate that as much more will be required in cash to meet the demands of depositors the minute we open again. I think I can safely say that no depositor of the State Bank and Trust Company will lose one dollar, but until I have made a thorough examination of every branch of the bank in Tonopah, Carson, Goldfield, Manhattan and Blair-I cannot give out a definite statement, and I cannot say when we shall open." When asked whether a receiver

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NEVADA BANKS CLOSED

Unable to Realize on Mining Stocks Taken as Collateral. Reno, Nev.-The State Bank and Trust Company, of which T. B. Richey is president and which has headquarters at Carson and branches at Goldfield, Tonopah, Manhattan and Blair, suspended payment. This was due to the inability to realize on stocks accepted last year as collateral for a loan of $400,000. The Nye and Ormsby County Bank, of which Frank Golden is president, also suspended.

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FROM SATURDAY'S DAILY

District Attorney McCarren of Tonopib is in Elko today looking after the interests of Patsy Dayer, the Austin munderer. The big traction engine that has stood in the street the last week or two was starmed up the afternoon and taken to the mitroid camp west of town, where it will be used III graning Thirty-two years ago today was a day in Virgina City. The larger part of the city burned and many people were destitute and homeless that night The experiences of that day cannot be blotted from the memories of those who saw the city burn. Washington's monument is 555 feet high. The eggs shipped from 50 coun ties in this state, leaving 64 yet to hear from, if placed end on end would build a monument 221,882 times higher than the Washington shaft.-Kansas City Journal. We stated yesterday that all the binks in eno closed in compliance with the governor's proclamation. This was an error as the Scheeline bank transacted business ns usual. Mr. Scheeline did not believe there was any occassion to se. There was no run on bis bank and the deposits exceeded the withdrawals. Major Miller arrived in Carson yesterday and qualified as bank examiner. H. held a consulation with the officers and director 8 of the State Bank and Trust Company ID the afternoon and has goue to other points to examine all its branch banks. It is said that President Rickey says it will take two million dollars to settle affairs of the State Bank and Trust Company. A federal court at Los Angeles has just convicted the Santa Fe of giving rebates. Paul Morton confessed it several years ago, just before being appointed secretary of the navy by President Roosevelt-Commoner. A western man has succeeded in breeding what be calls 8 fenceless pig. This pig has only one eye, which causes hin to travel in a circular direction, and thus assures hie owner that he will always come home and does away entirely with the necessity of fences. change. The earth nas a shadow, but very few ever see it, except in eclipees of the moon, or else few recogniz it when they see it. Nevertheless, many of us have noticed on flue, cloudless evenings in summer shortly before sunset A rosy pink are on the horiz in opposite the sun, with a bluish gray segment under it. As the sun sinks the are rises until it attains the zenith and even passes it. This is the shadow of the earth. Scores of young men are leaving Reno to settle upon timber land in the Susanville timber reserve, in Lassen county, Cal., which was recently thrown open and which will be closed to the public the latter part of this month Many of these young men intend to purchase timber land and others intend to settle on it and make their homes there. The Nevada railroad commission yea. terday received word from Vice-President and General Manager Calvin of the Southern Pacific raitroad that the road was making every effort to relieve the car shortage as a result of the heavy stock shipments now being made from the state and that alreads

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FINANCIAL Jan

21-Merchants' and Farmers' bank of Fairmont, Minn., suspended. Feb. 2-F. D. Gilman, former president suspended Home bank of Goodland, Ind., found guilty of embezzlement. 8-F. D. Gilman, Indiana banker. sentenced to term of one to three years in state prison. -Disappearance of $173,000 from subtreasury at Chicago made public. Mar. 14-Virtual panic in Wall street: Secretary Cortelyou relieved the situation. 19-Citizens' State bank of Firth, Neb., closed by state. 28-Corbin Banking company of New York, assigned; assets, $3,000,000; liabilities, $1,700,000. Apr. 2-Maj. H. W. Salmon of Warsaw, Mo., convicted of illegal banking, sentenced three years in penitentiary. 11-Bank of Conception, at Clyde, Mo., ordered closed. 19-Ex-Judge Smith of Chicago, found guilty of conspiring to defraud stockholders and depositors of Bank of America, of which he was president; penalty, imprisonment and $1,000 fine. Jul. 1-Citizens' bank of Eureka Springs, Ark., suspended. 5-Fort Dallas National bank of Miami, Fla., closed. 20-Farmers' National bank of Boyertown, Pa., ordered closed. Aug. 3-People's State bank of Brownstown, Ind., closed by state authorities. M-Receivers appointed for Pope Mfg. Co., of Hartford, Conn.: failure ascribed to stringency of money market. Sep. 5-Watson & Co., members of New York stock and produce exchanges and of Chicago board of trade, failed. Oct. 9-Union bank of Richland, and Bowman bank of Kalamazoo, Mich., both private Institutions, closed doors. 16-Collapse of Heinze corner in copper caused violent slump in stocks in New York: firm of Otto Heinze & Co., suspended from stock exchange. 19-New York clearing house committee declared that the Heinze, Morse and Thomas interests had been eliminated from banking organizations of New York. 22-Knickerbocker Trust Co., New York's second largest financial institution, forced to suspend; great slump in securities: call money at 70 per cent. 23-Secretary of treasury ordered deposit of $25,000,000 of government funds in New York banks. Four Westinghouse companies at Pittsburg and one trust company forced into hands of receivers because of financial stringency State Bank and Trust Co., of Carson, Nevada, failed. M-Three minor banks in New York forced to close Southern Steel Co., of Birmingham, Ala., filed involuntary petition in bankruptcy. 25-Six more minor banking institutions in New York closed doors. Union Trust Co., of Providence, R. I., suspended. Banks in New York and Chicago, and many other cities adopted clearing house loan certificate system to prevent draining of supplies of currency and made withdrawal of savings deposits subject to legal notice. $0-California Safe Deposit & Trust Co. bank, at San Francisco, closed Financial conditions in New York practically normal again. Nov. 4-Three small banks in Kansas closed United States Steel corporation secured controlling Interest in Tennessee Coal & Iron Co. -Receiver appointed for Arnold Print works of North Adams, Mass., one of largest textile concerns in country. 12-Merchants' National bank of Portland, Ore., California bank of Oakland, Cal. and Farmers' & Merchants' bank of Bapulpa, I.T., suspended. as Secretary of Treasury Cortelyou ordered issue of $50,000,000 of Panama bonds and $100,000,000 certificates of indebtedness as means of relieving financial situation City National bank of Frederick, Okla., failed. 17-American Silk Co. capital stock, $11,000,000, which operated mills in several cities, placed in hands of receiver. Dec. Chelsea Savings abnk of Chelsea, Mich., owned by State Treasurer Glazier, closed. -National Bank of Commerce, one of largest financial institutions of Kansas City, suspended. Fort Pitt National bank of Pittsburg, closed. l7-Jewelers' National bank at North Attleboro, Mass., in hands of receiver.

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FINANCIAL Jan

21-Merchants' and Farmers' bank of Fairmont, Minn., suspended. Feb. 2-F. D. Gilman, former president suspended Home bank of Goodland, Ind., found guilty of embezzlement. -F. D. Gilman, Indiana banker, sentenced to term of one to three years in state prison. -Disappearance of $173,000 from subtreasury at Chicago made public. Mar. Virtual panic in Wall street; Secretary Cortelyou relieved the situation. 19-Citizens State bank of Firth, Neb., closed by state. 28-Corbin Banking company of New York, assigned; assets, $3,000,000; liabilities, $1,700,000. Apr. 2-Maj. H. W. Salmon of Warsaw, Mo., convicted of illegal banking, sentenced three years in penitentiary. 11-Bank of Conception, at Clyde, Mo., ordered closed. 19-Ex-Judge Smith of Chicago, found guilty of conspiring to defraud stockholders and depositors of Bank of America, of which he was president; penalty, imprisonment and $1,000 fine. Jul. -Citizens' bank of Eureka Springs, Ark., suspended. 5-Fort Dallas National bank of Miami, Fla., closed. 20-Farmers' National bank of Boyertown, Pa., ordered closed. Aug. 3-People's State bank of Brownstown, Ind., closed by state authorities. 14-Receivers appointed for Pope Mfg. Co., of Hartford, Conn.: failure ascribed to stringency of money market. Sep. -Watson & Co., members of New York stock and produce exchanges and of Chicago board of trade, failed. Oct. Union bank of Richland, and Bowman bank of Kalamazoo, Mich., both private institutions, closed doors. 16-Collapse of Heinze corner in copper caused violent slump in stocks in New York; firm of Otto Heinze & Co., suspended from stock exchange. New York clearing house committee declared that the Heinze, Morse and Thomas interests had been eliminated from banking organizations of New York. 22-Knickerbocker Trust Co., New York's second largest financial institution, forced to suspend; great slump in securities: call money at 70 per cent. 23-Secretary of treasury ordered deposit of $25,000,000 of government funds in New York banks Four Westinghouse companies at Pittsburg and one trust company forced into hands of receivers because of financial stringency State Bank and Trust Co., of Carson, Nevada, failed. 24-Three minor banks in New York forced to close Southern Steel Co., of Birmingham, Ala., filed involuntary Detition in bankruptcy 25 Six more minor banking Institutions in New York closed doors Union Trust Co., of Providence, R. I., suspended. 36-Banks in New York and Chicago, and many other cities adopted clearing house loan certificate system to prevent draining of supplies of currency and made withdrawal of savings deposits subject to legal notice. 30-California Safe Deposit & Trust Co. bank, at San Francisco, closed Financial conditions in New York practically normal again. Nov. 4-Three small banks in Kansas closed United States Steel corporation secured controlling interest in Tennessee Coal & Iron Co. e-Receiver appointed for Arnold Print works of North Adams, Mass. one of largest textile concerns in country. 12-Merchants National bank of Portland, Ore., California bank of Oakland, Cal., and Farmers' & Merchants' bank of Sapulpa, I. T., 18- of Treasury dered Secretary suspended. Cortelyou orissue of $50,000,000 of Panama bonds and $100,000,000 certificates of indebtedness as means of relieving finanetal situation City National bank of Frederick, Okla. failed. 27-American Silk Co. capital stock, $11,000,000, which operated mills in several cities, placed in hands of receiver. Dec. 2 Chelsea Savings abnk of Chelsea, Mich., owned by State Treasurer Glazier, closed. 5-National Bank of Commerce, one of largest financial institutions of Kansas City, suspended. 6-Fort Pitt National bank of Pittsburg. closed. 17-Jewelers National bank at North Attleboro, Mass., in hands of receiver.

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ATTACHMENT SERVED ON CARSON STATE BANK

Carson, Nev., Feb. 5.-This morning a writ of attachment was granted against the State Bank & Trust Co. of this city, Sheriff Kinney served the attachment on President Rickey as ne name to the bank. The attachment was asked for in the sum of $11,930 in the name of the Francis Mohawk Mining & Leasing company. D. Mackenzie of Goldfield, applied for the writ for the company. A receiver was immediately' placed in possession of the bank, Mr. Rickey, on being asked what course would be taken to raise the attachment, refused to make any statement as the directors and stockholders will hold a meeting this afternoon. The bank closed its doors over three months ago and while every effort has been made to re-open Mr. Rickey, the nes failed to raise the necessary coin to set It on its feet. Several days ago he made a proposition to the other stockholders that he would take the institution over and place a million the concern, provided they would turn their stock to him. This is considered today, provid.ng the attachment can be raised. The Carson branch of the bank is the home office over three-quarters of a million are involved in the name, of depositors In city and adjacent rural settlements. It was stated this morning that the loss will be close to 75 per cent.

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RICKEY BANK REORGANIZED AND WILL PAY BIGGEST DEPOSITOR BECOMES DIRECTOR All Who Have Money in Institution Will Receive What Is Due Within a Year, According to the Present Plan By Associated Press. CARSON, Nev., Feb. 10. - A new phase in the Nevada banking situation was evident this afternoon when D. MacKenzie, the heaviest individual depositor in the suspended State Bank and Trust company, agreed to refinance the institution and became one of its members. MacKenzie, who recently had an attachment issued against the bank, has awaited the action of the committee investigating the bank's securities. They reported to him this afternoon and upon personal examination he agreed to withdraw the attachment and help reorganize the bank. MacKenzie agrees to furnish $140,000. This, with the $90,000 on hand, will give a working capital sufficient for immediate needs. MacKenzie has $800,000 in deposits, but cannot secure more than any other depositor. He will become a director under the reorganization that is to be effected immediately. It is proposed to pay depositors 10 per cent in ninety days, 20 per cent in six months and the entire amount in one year. Nearly every depositor has signed this agreement. T. B. Rickey, former president, has assigned his stock and is out. Branches at Goldfield, Tonopah, Blair and Manhattan are not in the deal.

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RICKEY IS OUT -ASSIGNS STOCK Mackenzie Will Take up Bank Burden Under a New Arrangement CARSON, Feb. 12.-There will be a meeting of the depositors of the State Bank and Trust company in the district court chambers In this city tomorrow and plans will be discussed for the opening of the banks. At the meeting D. Mackenzie, who recently filed an attachment against the bank, will appear and make an offer to the depositors to place the bank upon a substantial basis. Mr. Mackenzie stated this afternoon that he would offer to place $150,000 cash in the vaults of the bank, if the stockholders will turn their stock over to the company and the depositors will sign the agreement circulated some time ago by the directors of the institution. If he does this the amount will be sufficient to pay the first 10 per cent due the depositors at the end of 90 days, according to the terms of the agreement, which most of the depositors have already signed. Mr. Mackenzie has declared that he will sign the agreement for all the companies he represents but that all other depositors must do the same. He also states that he believes that if this plan is followed the bank will soon be upon a substantial basis, and will be able to pay all depositors in full. Rickey stated to Mackenzie yesterday that he would have nothing more to do with the bank. Mackenzie agrees to furnish $150,000. This with the $50,000 on hand will give a working capital sufficient for immediate need. He will become a director under the eerganization that is to be effected immediately. It is proposed to pay depositors 10 per cent in 90 days, 20 per cent in six months and the entire amount in one year. Nearly every depositor has signed this agreement Rickey has assigned his stock. The branches at Goldfield, Tonopah, Blair and Manhattan are not in the deal.

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Declares Commissioner He has Evidence that Will Make Convicts All of the Chain of Rickey Banks to Reopen Under the New Deal RENO, Feb. 14.-J. T. Shaw, chairman of the rehabilitation committee having in charge the affairs of the State Bank and Trust company, came in from Carson last night. He plans to leave for San Francisco this morning on business connected with the company. "It is ridiculous to think that the plan of reopening the bank includes only the institution at Carson," said Shaw. "In the first place that would be a direct violation of the law and would not be allowed under any circumstances. What we intend to do is to open every one of the banks and to give every depositor in the institution an equal chance to share in every benefit derived. We have the hearty co-operation of the people of Carson and we do not look for any difficulty in having every depositor sign the agreement. We have nothing to conceal from the public; on the contrary we invite investigation and stand ready at all times to explain anything desired. What we want to do is to pull the company and its depositors through and it was through our efforts that we secured this proposition from Mackenzie and thus saved the bank from going into the hands of a receiver. "We are going to Tonopah, Goldfield, Manhattan, Gardnerville and wherever depositors of the State Bank and Trust company are located and show them where it is to the advantage of all of us to sign up and begin business at once. "As to the manner in which things have been conducted, that is another matter. It will come up later. But I can say this now; I have enough evidence in my pocket at this very moment to send at least a dozen men to the penitentiary and before the business is ended there will be criminal prosecutions. This is a matter that does not concern us now; it is something which our attorneys will attend to and the people of Nevada may depend upon it that the guilty ones will be hunted down and prosecuted as their crimes deserve."

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Rickey Held to Grand Jury as Embezzler District Attorney Accuses Nevada Financier and Two Members of Bank Commission SPECIAL DISPATCH TO THE CALL CARSON Nev., Feb. 19.-T. B. Rickey, head of the State bank and trust company, whose branches in the Nevada goldfield towns have been suspended, rests tonight under formal charges of embezzlement. He is at liberty under $10,000 bail demanded by Judge Folsom. His case will be taken up tomorrow by a special grand jury, which was summoned by the court this afternoon. Rickey was placed in his present predicament after a session marked by the prosecutor's bitter denunciation of Rickey's operations, frenzied finance, he said, that was winked at by the bank commission, which also was hotly arraigned as criminally negligent or incompetent. Judge Folsom put an end to the acrimonious exchanges between prosecution and defense by declaring at the close of the day that the evidence at hand was sufficient to hold Rickey for the grand jury. Then the court fixed bail at $10,000. which the accused banker promptly furnished. Among those who signed Rickey's bond were State Secretary Douglas, former Governor Adams, former Governor Colcord, S. P. Davis and Deputy Treasurer Wildes. The new grand jury will be drawn tomorrow morning, as Judge Lagdon will be in this city, In Rickey's defense today the banker's counsel, Attorney Chartz, asserted that Attorney General Stoddard had declared the bank solvent and held that under such testimony there could not be anything criminal to hold Rickey. Roberts, the district attorney, in summing up his address to the judge made a number of serious charges, both against Rickey and the bank commission. He stated that at the time the state board was investigating the banks two of the members were interested in the bank, Ryan, one of the members, being still president of the Nye bank, while Douglass was associated in a measure with the Fallon bank. He further stated that in case any indictments were found by the grand jury against Rickey charges would be made against every director and clerk. Roberts reviewed the testimony of Bank Examiner Miller in which he declared the bank insolvent. Several times both attorneys were on the floor at the same time and it kept the judge busy to maintain order. Before the court session this morning a new sensation was sprung in the Rickey case. Mrs. Sadler, widow of the late Governor Sadler, filed an attachment for $10,000 against the State bank and trust company. The sheriff at once took charge and placed a watchman in the bank. Mrs. Sadler had the money as a deposit and has refused to trade or transfer the account. It is believed that this is the forerunner of a receiver, which all admit cannot be held off much longer.

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The Rickey Banks The affairs of the State Bank and Trust Company are becoming more complicated. Creditors are filing suits against the bank, one of the latest of these was brought by Mrs. Sadier, widow of the late governor, for $10,326.72. An attachment was issued and levied on the bank building and its contents. Judge Langan arrived in Carson yesterday and drew a grand jury to investigate the affairs or the company's banks, The jury will meet Monday to begin the investigation, instead of meeting yesterday as stated in last evening's issue. The State bank commission met at Carson yesterday afternoon, Commis. sioners Ryan and Douglass and Bank Examiner Miller being present. Mr. Miller is making a ne N report on the condition of the bank. When this is finished the commission will be prepared to act on the attorney-general's request that a receiver be appointed. While this work is going on, the rehabilitation committee 18 progressing rapidly with its plans for reopening the cham of banks. It looks to an outsider as if the depositors and creditors should stand solidly behind the committee instead of fighting for the spoils,

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Mrs. Sadler Sues for $10,000 Mrs. R. Sadler, widow of the late Governor, filed an attachment suit at Carson on Wednesday against the State Bank and Trust Company for $10,326, the amount she had on deposit in the suspended bank.

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Bank Wreckers Arraigned

CARSON, March 21.-Four directors of the suspended State Bank and Trust company were arraigned in court today, accused of embezzlement. A motion is being made today to quash the indictment against them. The grand jury has found another indictment against T. B. Rickey of He was released on the bank. $10.000,000 bail.

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Outlook For Bank The outlook for the opening of the State Bank and Trust company is said to grow better daily according to the affairs of the bank. The directors and many of the stockholders who are not directors have agreed to raise the necessary money to meet an assessment of $100 the share on the stock, and those who cannot raise the money are arranging for friends to take over the stock and then protect them with notes. It is likely that sometime the coming week another meeting will be held by the stockholders of the institution and it will be ascertained just what the present status is. No action can be taken before May 15th but at that time the directors hope to have the necessary assessment raised and then to make a showing in court. If the money is raised then the bank will be reopened and the application for a receiver denied or withdrawn by consent.Carson News.

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Judge Van Fleet of San Francisco will hold court for Judge Farington in Carson tomorrow and will hear the motion to have the case of F. Wildes, receiver of the State Bank & Trust company, vs. T. B. Rickey et al remanded to the state courts. In this case Rickey is endeavoring to have his portion of the case heard before the federal courts on the ground that he is not a resident of Nevada.

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DIRECTORS WANT JURY

TO PASS ON CASE

All the directors of the State Bank and Trust company, with the exception of T. B. Rickey, have filed a notice of motion with the clerk of the court in Carson that in the case of Frank L. Wildes, as receiver of the bank versus the directors of the State Bank and Trust company, asking that the case be tried before a jury when it comes up for trial on the 14th of June.

The time has not been set as yet for the hearing of the motion but will be at some time prior to the 6th of June.

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Somewhere in Carson 4000 copies of the report of Receiver Frank Wildes of the defunct State Bank and Trust company, are being. safely guarded, and although the judge of the district court over a year ago ordered that the report be printed and distributed to the depositors of the bank, this action has never been taken. The report was printed in pamphlet form some months ago, but the depositors have not received the copies ordered by the court. The order was entered in the court minutes, but it now appears that the failure to distribute the pamphlets is due to the fact that the receiver desired to have each copy certified to by the county clerk. The order of court contained no reference to the certification of the documents, and the delay is causing comment by the depositors. The report shows in detail the expenditures of the receiver, together with the aomunts paid out

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RECEIVER'S REPORT.

The malicious document containing scathing denunciations of debtors, lawyers and admissions of the receiver of official dereliction and wanton extravagant expense for doing nothing, is filed in the district court at Carson in the matter of the insolvency of the State Bank and Bust company.

In the vault of that bank at Carson can be found 4000 printed copies of this promiscuous diffusion of oxene which the court ordered printed and to be distributed among depositors and creditors of the defunct institution is awaiting a search warrant for discovery and mandamus proceedings to compel obedience to court order requiring distribution. The magnanimous amount of $32,466.22 is charged for miscellaneous expenses, including salary of receiver for seven quarters at the rate of $2500 a quarter, or $27 a day amounting to $17,500, while assistants employed were paid $17,965.14; for court costs, travelling expenses and fees $4,024.50 were exuended, while two 5 per cent dividends amounting in each case to $53,306.62 have been paid. The report of the receiver, like all precious packages, is safe and securely kept from optical observance of depositors and creditors. Verily the hope of the depositors, whose accumulations of a lifetime were intrusted to this unsavory institution for safe keeping, have vanished.

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FRANK WILDES ILL IN SAN FRANCISCO It is said that Receiver Frank Wildes of the State Bank & Trust company, who is the complainant in the bank case at Carson, is in a San Francisco hospital, and it does not look as if much head way would be made with the case this month, unless the receiver take a decided turn for the better, and is able to return to this state in a short time.-Virginia Chronicle.

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California, Oregon and Sierra Valley railways. The Commisson alleged discrimination against Reno in that the rates charged from Reno to points on defendants' lines were higher than the division of the joint rate from San Francisco or Sacramento received by defendants for the same hauls.

The big sugar factory at Fallon has finished the run on the first crop of beets. It amounted to nothing commercially, but demonstrated that it is possible to manufacture sugar in this State. Next season there should be a substantial amount of sugar manufactured. As Nevada imports every pound of sugar that is used, it would appear that if the farmers will furnish the beets the people will furnish the money to buy the output.

M. J. Smith, convicted in the Esmeralda District Court of high grading under an indictment charging grand larceny, has been paroled by the Board of Pardons. The parole becomes effective February 12, 1912. His term of service, after deducting credits, would have expired some time in September next. It is understood that the action of the Board was unanimous. One of the conditions of his release was that he should avoid Goldfield and leave the State.

During his cross-examination by one of attorneys for the Directors of the State Bank & Trust Company at Carson last week, Frank Wildes, Receiver of the defunct bank, who is suing the Directors for more than $1,000,000, stated that he believed the losses of the bank were due to bad judgment on the part of the directors, rather than to gross and wilful mismanagement. He had sworn in his complaint that the directors had grossly mismanaged the bank and used extreme carelessness.

State Engineer William Kearney has gone to Washington D. C., where he will confer with Government officials in regard to the operation of the Carey Act in this State. There is much land being taken up and irrigated under the Carey Act in Nevada, and it is to avoid any trouble that Engineer Kearney will hold this conference. At the present time parties under the direction Engineer Kearney's office are making a survey of the Humboldt River and all of its tributaries.

The only dredging operations in Nevada are those of the Federal Mines Company, about 14 miles from Oreana, Humboldt County. It is a Risdon boat, equipped with 28 buckets of 5 cubic feet capacity. The power is furnished by four Doak gas engines with a total of 196 horsepower, using distillate as fuel. The depth of the ground ranges from 20 to 30 feet, and contains a considerable number of boulders. The dredge has been shut down after operating but a short time, and it is reported