Pioche daily record. [volume] (Pioche, Nev.) 1872-1876, 1876-07-28

Stanford had deposited with the bank as
security for his overdrsftS TO ID. o.
Mills. Referring TO the charge in the
Alta of September twenty first. 1875,
that the proprietors OF the Bulletin and
Call remitted money to Simonton, of
New York. TO speculate in stock; that
they strove to make the panic disastrous
as possible and were in the conspiracy to
the bank. Reese testified: | know of
no effort OF these parties TO affect stock
values or to break the bank or cause the
public to lose confidence in 1t. The
cause of the failure of the bank was that
Ralston used its funds for his own pur.
pose and did not replace them. This he
did surruptitiously, irregularly and with
out the knowledge of the Directors. The
largest deficit was found in the refinery
| account, amounting TO about two millions;
! the refinery was separate corporation
but under the control of the bank. The
hooks of the bank contained a debt to
the refinery account of upwards of two
| millions, which were ictitious-ma
| featured by Ralston, who had monthly
/ used the money for his own purpose.
! We also found instances in which GER
| tltcatrs OF deposit had been issued IN
which money never came into the bank;
/ one instance. was that of Carpenters
| certificate for over half a million. Raj
ston's total Indebtedness was over four
millions. You may call it what you like,
| it was Misrepresentation. AS to the over
issue of stock, | made no examination
| of that until after the bank resumed.
| am credltaby informed there was
but it had been retired and the the stock
stood all right when l took the books in
hand" Witness eyaded the question by
whom such stock was retired and the
point was not pressed. II Judge it was
retired in the interest OF Raston and
that before the suspension of the bank,
there were overtures made by persons
interested in the bank to go into an ar
rangement with Flood IL y Brien, by
which that firm were to take the bank
and carry it on, the parties making the
proposition Offering to become respon-
sible to the amount of one million dol
lars il the assets OF the bank were not
sufficient. was party to that. l do
not know Of any false news published
by the Call and Bulletin at that time.
After the failure bad an interview with
the proprietor of these papers. / sug-
guested that the newspaper controversy,
then going on upon the subject, WAS det-
rimental to the prospects of the bank re-
Stunning; they SAID controversy had
placed them in false light; that they
were charged with doing things they
were not guilty of, but on my informing
, them we were doing our best to resume,
they, to forward that result, agreed in
effect to drop the controversy and stop
,, defending themselves. 1t was admitted
on all hands. it would be for the Interest
,, of the community and that they wouC
do nothing to impede US in the work o.
resuming. think they afterwards die
all that was possible to assist US.
, SAN FRANCIsCo, July 27.-The retail
merchants met at Dashaway Hall to tn,
number of eleven, this morning, to fur
ther consider the silver discount ques
, /, ton, but as so little interest appeared tt
be shown in the matter, it was resolved
to adjourn subject to the call of the Prcsi
r dent 1t was mentioned incidental,
r that a number of merchants had signet
the resolutions adopted at the last meet
ing, but the general impression appeared
: to be that the whole thing had ended il
smoke