Carson City daily appeal. [volume] (Carson City, Nev.) 1907-1930, 1908-07-20
First Report Of
Receiver WiidGS
Continued from Page u

of affairs. In my judgement the
money appropriated for this work was
well spent, and it is to be regretted
that their efforts to stay the tide were
unsuccessful, as they were made sole
ly in the interests of the depositors.
Affairs AS They Stand
Among the assets Of this concern l
may mention the following:
Mines, mills, hoists, windmills, dis
abled automobiles, laundries, brewer
les, bar furniture and fixtures, empty
safes and enough mining stock to
property paper every shed in the
State of Nevada. A banker capable
of Judging the worth of the above
mentioned junk is a valuable man,
and would be recognized as such in
any community. The principal re-
quirement of an Examiner of this
bank was a large blue pencil and
strength to WELD it mercilessly. His
work had been easy indeed had a
Bank Auditor been appointed by the
bank people, who was capable, en-
powered to act, and of an inquisitive
turn of mind.
An immense amount of detail work
must be done and its being done.
All buildings are being placed upon
a paying basis, and economy practie-
ed as far as possible. I realize that
this business could easily be wound
up in a comparatively short time, bat
should such a plan be followed the
wreckage would be fearful. Matters
which require much time and labor
have to be adjusted before I can
render a full report.
The Sullivan Trust Company may
aid me in pulling cut greater assets.
although I must confess to consider
able doubt. Some of their mines are
reported good, but a five years lease
on three of them-The Stray Dog
Jumping Jack and Indian Camp of
Manhattan-dOeS not appeal to me as
offering immediate prospects Of reali-
zation to advantage. The Eagles
Nest and Hailstone of Fairview are
among their Unbiased properties. ]
cannot see that peddling the stock
of these companies would help mat
tiers. 1t is impossible, at the pres
ent time, to market any securities
of this class and any attempt to do
SO would only result in great sacra-
fee and benefit no one. These mines
must be disposed of as mines-not
stock bait-and it is possible some
offer will be secured for them.
The depositors will have to possess
themselves of patience. l will en-
deavor to pay a small dividend, but
in order to do 80 must first ascertain
the liabilities, which, for some I'M
known reason, have never been shown
and the number of surprises in the
way of claims which are valid-posi-
lively valid-is astounding. 1t will
require both time and labor to
s,raighten out the books and N cor
responding with both creditors and
debtors. Mechanics liens have beer
filed, suits brought, attachments
levied, sheriffs in charge for months
with heavy costs, and to once get
started ahead is a work of magnitude
Every n is waiting for the "Fal
Opening All the promises date
after election"
1 have in prospect several sales O.
real estate. which will materially
assist in fastening the much desired
dividend to depositors.
People of Tonopah and Goldfeld
appear to appreciate the difficulty OF
disposing of anything; stock or realty
The realty, however, may be made
a paying investment instead of a
burden. All unnecessary furniture
and fittings are being disposed of as
raDldly as possible.
l herewith append two inancia'
statements; the one taken from the
books of the bank which show as
sets amounting to approximately, One
and One alt Million Dollars ($1, 800.
O00.0O); the other, my estimate of
the assets Of this concern, showing
a difference between the two of over
| Nine Hundred and Forty Thousand