Tonopah bonanza. [volume] (Butler City [i.e. Butler], Nev.) 1901-1909, 1907-12-21
EDITORIAL COMMENT
WHY NOT OPEN THE o VENT BANKS?

closed banks in this State; but we feel that the time has come when t
remain silent any longer would not be subscribing the b@t interests Of tn
state and of this community in particular.
The Bonanza this morning feels impened to ask tbe opostion th,
"a oen uppermost In the minds of everybody for the past two months
When are the State Bank and Trust Company and the Nye and ormsb,
County Bank going to open, and how are they going to pay their de-
The Bank Commission, through the State Bank Examiner bas exam
h nu .e oahs ana ns pronounced 10Th of them solvent Now. if the
deposhors? "s H' pay 'H"
In the same sentence that the Bank Commissioners declared both
@anks solvent, they urge upon the depostors that they sign the agree
ments to accept ten per cent of their money in three months after the
banks open. The Commission says the banks are solvent: T r Rickev
and his directors say that the State Bank and Trust COMPANY Is solvent
frank Golden and his directors say that the Nye and ormsbv ie sol.
vent; then why do 20 the banks OPEN Rckev has Iedge bs 49,
fortune to the deposttors of his bank; and Frank Golden 10 to be ot.
uon "y hickey. as pledged his private fortune to his depoators Then
why do the banks no open?
1t is quite evident that the bankers have been INDUCING in a game
OF blf When a receiver for each bank was mentioned there was > viz
mou 10 v OF indignation went up from the president and their directors
mere was al of bringing in reserves, but those reserve funds have nc
y iahed 70 materialze' and the banks have failed to open. They have
~ueu' "o ontns' n we would like to be informed where there is
any warrant in law for such a proceeding? We would like to know
wheret there is any other State that would have stood for sucb trieino In
@'ner states Tn actions have been prompt and expedient.
In this State the bankers tell the deposftors that tbey must wtt mn
" TN get goo and ready to open and give them back their money
denositars y mere are bankers IN jail because they cannot pay their
eposNor we are not advocating any such strenuous measures in this
community, but the Bonanza is the organ of the people and is going to-
insist n the people receiving fair play.
Time and again W e have been assured that the banks ara ,otn.
Open NOW we are told that they may open on January 2d when tbe
Ne and ormsby closed its doors, we were told that the hart "r ~ant tms
m IN which to get in its reserve funds. which would not occpnv NOR
u banks by declaring legal holidays for indefinite periods an h vo
~ olnSus posted a notice on its doors that the bank was closed in coz
sequence of the holidays. Then the statement was ade. tnot ~ -
"a 10 close n account of holding the paper Of the STATE PANT ma r.
Company This was specifically denied by the statoR snt o pan ra ana [u
pany. DN anu rust ON
NOW both banks seem to be operating o n a mutual salvation h..A.
ln po~9 oehg ma is best for The banks, unmindful of what is host
- me uep0tors. or OF the rights OF the depositors True hoy ad hou
lays In California, and that they have them ct hi d,rina 49, Ln
Wy mere va a vi on the California Safe Deposit and Trust Cornapv
say nohuay or n % holiday, the bank was forced to close its doors rbe
directors an tn president declared that the institution was soIvert
au ny were glVen shrft to prove their assertions. The BANK Cor,n,is
Sln stepped in right away. and demanded to be shown. The presidant
OF TN bank as given time in which TO reach San Francfsoo - ~
D"S' ant shorty thereafter the Attorney General was asked for nor.
nisspon 70 commence proceedings against the bank. There were secrJ.
tis missing, and three of the officials we're swooped own mo- "a
landed in Jail WH Woh ana
These gentlemen we're not permitted Ito tell their denostors th.t
thy mst sign an agreement and wait for their a year c.shion
uSnman' IN a interview last night, tells what will befau the denositors
"ho my 10 sign the agreement There may be several suits started,
ne ne says pt TN bank will find protection in the report of tho STAT
banK commissioners. Suits of that kind would take severat yoars -
Hows this? Are the banks governing the Bank Commission ad
'he courts is well? Several years to get the which vac 60 co..
placed in the keeping of the banks by the depositors? This is
:" 10" II Is proposed to pay the depositors. If they cannot mar tbe
Gu per en- IN three months, why then those who have signed the agree
" n VIII ave TO Wat until the banks "a pay ii. They IA bava To
All several years. And Mr.. Hickey and Mr.. Golden zach save that ~
'aN Is soVeht And Mr.. Hickey and Mr.. Golden each saws that his
ae fortune is behind his bank, Several years behind them. douhttess
- Is pretty lea time that both banks issued a statement which would
uteIgioe reading to the public, and showed the depositors iut
farce. ""A o""Ssoh is "a
n report of the Commission S an abortion: it is a isgraco 10 tho
mo I'M saddest part of it is the signature of Governor Sparks At
~ n@u u me commission II a report like that were to be mad TO
ne OomPuo"er Q Currency, somebody's head would go into the basket
'u aomepouy would b. rdculed out of Office. The Bonanza is rot goir,
Q hN TINS matter rest where it is This paper will follow an Tho nvon1
Wn II is ascertaine what are the rights of the deposiors and
10" iH me mw can reach into the affairs of the banks We demand
. KNOW, IL IN re solvent, why do they not open: if thew are sol
'ent' why re they not paying their depositors?