The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1907-12-07

The situation at both of the local
banks seems to be at a s~tandstill as Tar
as n move oward immediate opening
Is concerned. There are a few depositors
yet to sign up and till their signatures
are obtained the banks will not reopen.
President Hickey. of the State Bank was
expected in Goldfeld early in the week.
but has been detained at Carson City on
business.
The following interview with Mr..
Hickey appeared in the Carson City
News. and gives a better idea OF the
banks position than any statement here
tofore published:
Mr.. Hickey, can you give me any
idea as to the date of reopening bank?
The people are very anxious to know
this"
Il regret to say tina I cannot. This
is a matter. that rests entirely with our
depositors. I have presented an agree
ment to them to be signed and returned
to us. That agreement has appeared in
your columns By II our depositors
agree to take time certificates payable
in three. six. nine and tweive months.
with interest at the rate OF three and
oit-hdi per Ccnt DcT dNNuT1s u tONtT
their deposits. We need this time to
realize on our sc .urities and to secure
to our depositors dollar for dollar de-
posted. The State Bank and Trust
company stands ready to open the doors
of every branch Immediately after we
have the signatures of every depositor
to that agreement. Everything that we
can do to facilitate a r~eopening has been
done. Just as soon as we have the sig
natures we will open. The certificates
are in the hands of the engraver and
will be on hand whenever needed. We
are getting signatures every day. Some
few are holding back. Just what they
expect to gain I cannot say. The plan
I a proposed has been taken up by a
number of banks throughout the entire
country. 1t is the only feasible plan to
secure the depositors their money"
"Mr. Hickey. it has been reported that
you made a statement to the effect that
when 30 per cent of your depositors had
signed tina. agreement. you would re-
open. Is that rue
1T is not. If 1t were true. we would
be open now. Every depositor. no mat
ter what the size of his account may be.
must sign the agreement before we can
reopen. 1 have had the best legal adj
vice to be had on this subject. While
the question is one that has NOT been
passed upon by the higher courts, my
advice has been to rave everyone sign
up before we open. I propose to follow
that advice and to the best of my abfl-
ity. protect every depositor to the extent
of his deposit. I will mo- play any fav-
critics. This is a matter of vital inter-
est to all. and a mistake cannot and
must not be made at this time. Just
where this reputed statement originated.
I do not know. l have been careful in
all my talks with my depositors to en-
phasize the necessity of al, standing to-
gether."
What is your position. Senator, in
regard to the guarantee you made to a
committee representing the Goldfeld
depositors of your bank? Do o stand
ready with your private estate to make
up any deficiency in the payments to
any depositor in your bank?"
Most assuredly I do. I cannot make
preferred creditors of any depositor, no
matter where he lives. Here Is an ex-
tract of a letter written by me to Mr..
E. B. Cushman, of the Tonopah agency
of our bank:
In regard to the guarantee which I