Carson City daily appeal. [volume] (Carson City, Nev.) 1907-1930, 1907-11-22

\ number of depositors of the Nyel
nd Ormsby County Bank were pres
eat at the meeting of the depositors
called at the Court House last ey-I
ening by Alfred ChartZ
Mr.. Chartz who had called the
meeting at the request Of number
Of the depositors in the bank was
unanimously appointed chairman OF
the meeting and James D. Finch, Jr.
acted as Secretary
MI Chartz then addressed the gath
ing and explained the object OF the
meeting and for what purpose il had
been called. He stated that the Dir
ectorsand stockholders had nor pledg-
their fortunes to the support of the
institution and stated that they would
pay dollar for dollar if they were
compelled TO use every cent OF their
private wealth as had been done by
the President. Board Of Directors and
Stockholders OF the State Bank and
He said it was the duty for these
Trust Company.
men to take an oath that they would
protect the depCsitOrs who had en-
trusted their savings TO them to the
extent of every dollar. He further
said that they had published no stJie-
and that the people had no way Of
knowing how the bank stood in
financial way He said that it was
the duty of the depositors to ap-
point a cOmittee to investigate the
standing of the bank and ascertain
if possible the exact financial condi
ton MI Chartz said that he under
stood that $4,000 had been drawn
from the Institution after the doors
had been closed on the 23d of last
month by D. NJ. Ryan. one of the
directors of the bank and given to
County Treasurer Patterson This
money was deposited by the county
in the bank and as Mr.. Ryan is on
the bond or the county treasurer Mr..
| Chartz said he understood the money
was given to Mr.. Ryan so as to pro-
| tect him as bOndsman of the county
i treasure. Mr.. Chartz declared that
this action was strictly unfair and
dishonest and that the money belong
ed to, the people and not to the direc-
tors and stockholders of the bank
nor to the bondsman of any man.
Mr.. James Sweeney arose after the
chairman had finished and after stat
ing that the meeting had not been
j called by permission of any official
of the bank and that they were un
aware of the meeting until they saw
the notice in the paper He sad as
he was the only director of the bank
living in this city he thought it his
} duty to make a statement.
To my personal knowledge, said
Mr.. Sweeney the Nye and Ormsby
County Bank is able to pay dollar fol
dollar TO its depositors. 1t should
not be placed in the same category
, with banks that have failed or sus
pended We are short of coin at the
present time due to the general finan
cial condition of the entire country
We are in no way responsible for tn,
present condition but merely fell ;
victim to the financial panic of thu
East along with hundreds of institu
! tions in different parts of the cOun
try.
Il feel safe in saying that no othe
bank in the state has better securitie
1 for the monies loaned than has tn
t ! Nye and Ormsby County Bank. Gu
4 securities today, even with the mark
cts in the present condition, will NOR
I than realize on the moneys loaned
: The people must not forget tha
4 the borrower must be protected a
this time as much as the deposition
el Seven out of nine are borrowers an
p they must not be made to suffer an
It more than the depositor Would
be right to forclose on our mortgage
on homes and personal property sin
ply because the depositors want thei
o money on a minutes notice? WOul
r itbe right to drive people to tn
Y wall simply because few depositor
v object to- bow to the will of the ma
c Ority and sign the agreement whic
d will get for them dollar for dolla
y of their deposits and interest on tn
same at the "ate of 31A per cent? "
don't think so and for that reasO
p have asked our depositors to give L
the desired time to realize on Ou