Carson City daily appeal. [volume] (Carson City, Nev.) 1907-1930, 1907-11-22
MEETING Or
THE DEPOSITORS
Of N. s. .. Bank Last Evening
Was Well Attended. Both
Sides Discussed

securities without running men WON.
Ell and children who have their
homes mortgaged for few dollars
As TO the condition of the bank
the report Of the State Bank Examin-
CT which will be published in the next
few days Will tell the entire story
L will show the kind and value of
cur securities and the amounts Of
assets and liabilities. Examiner Mil
Ter has examined every branch OF the
bank and has had free access to all
thorough one in every respect and
believe will show that the Nye and
Ormsby County Bank is cne OF the
strongest banking institutions in the
State and that there is not three 9th
er banks in the State in as good 3
financial condition,
As to the $4,000 which was rum
ored to have been drawn from the
bank by Mr. Ryan I do not believe
there is a word of truth IN the mat
ter. in fact. will pledge my word
that no such transaction took place.
Where Mr.. Ryan got The $4,000 is his
business but it did not come from
the Nye and Ormsby County Bank
Mr.. Sweeney here called upon Geo
COwing. Cashier Of the local bank to
verify his remarks. the latter stating
that never at any one time since the
closing of the bank has he had that
amount o fcoin in the vaults.
A motion was then made and sec
onded that Mr.. Sweeney ask the 9th
er directors and stockholders Of the
blink if they would pledge their for
tunes to the depositors in case it
was needed Mr. Sweeney willingly
agreed to do this.
! Mr.. Heidenreich asked what pro
! lection and securities would be Civ
en- to the signers for their money
which they were practically foaning
to the bank for one year. Mr. Sween
/ ey answered him that the securities
on which the bank loaned his money
/ WITS the security that he would have
for the payment of the same. All sec
urities taken for money loaned are
/ in the hands of the bank and protect
the depostors to the full amount
! Several questions were asked by
other depositors which We're agreeab-
ly answered by Mr. Sweeney.
I Mr. George Brown asked what
would be the result if depositOr
would refus eto sign. Mr.. Sweeney
sttted that while he could not ans
wer this question for a fact ne be-
lieved that if 90 per cent. of the de-
pOsitor ssigned the agreement that
lie remaining ten per cent. would
be forced TO abide by the judgment
of the majority and would be issued
time interest bearing certificates the
same as though they had signed the
: agreement. He believed this proceed
ure would be ordered by the State
Bank Commission provided the re-
port OF the Examiner showed the
banks to be unquestionablv solvent.
Statements were made in favor OF
signing the agreement by General
Hagerman who was one of the first
to sign and the few words he said
were right TO the point. and by Gu,
uintn.
: A motion was made TO appoint q
committee to examine the banks bur
the chairman deferred action on the
matter until later time
The meeting then adjourned
r During the talk of Mr.. Sweeney ht
( stated thtt the certificates would b,
e issued in denominations of from s.
|. to $40. interest bearing from date o
t issue. and that the same could b,
L circulated as currency. These will
r be much safer and more valuable
q than clearing house certificates a:
y they will be redeemable i'll gold OF
1t a certain date and will bear interes
S while the certificates in use are no
/ redeemable except at the option o
r the clearing house and do not bea
d any interest whatever
e The meeting was a success in ey
S cry way and it is the general in
j. preston that much good was accom-
n plished for both sides.
II
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