Carson City daily appeal. [volume] (Carson City, Nev.) 1907-1930, 1908-08-22

Mr. Wildes then testifi ed that he
had settled two attachments suits in
which bonds belonging to the bank
were Icing held and had paid the
claims in order to get the bonds back
into this state and under the juris-
diction of this court.
Thirty one thousand dollars of these
bonds are the issue made by Ormsby
county for the purpose of erecting
! the new school house and the other
/ $4,000 are first mortgage bonds of
/ the Nevada Power Light and Water
Company of Reno. The former bears
per cent interest and the latter g.
! Mr.. Wildes stated that it was nee
essary to redeem these bonds in or
der to get the handling of them and
they bear good interest and are Of
the best kind of collateral.
When asked how much money he
anticipated he could raise on the Sc
curities held by the bank he stated
that if he could raise an additional
10000 within the next six months
he would consider he was doing good
work. Under this head he stated that
the bank held milliones and milliones
of shares of stocks as securities for
loans but at the present time their
value would not represent one cent
share as a whole. Attorney Mack
asked for estimates as to the value
of this class of securities but the
Receiver stated that it was impossi-
BILE to estimate their value owing to
the condition of the market and in
fact of the entire country financially.
Mr. Wildes in estimating that he
might collect $4,000 during the next
six months stated he was figuring on
the sale of stocks among them being
the banks holdings in Silver Peak,
Jim Butler, North Star and Kewanas
stocks. These stocks he is of the
opinion he can realize on most any
time. The Sullivan Trust Companys
securities includes millions of shares
of stocks that at the present. time are
worthless with the possible exception
of a couple of the stocks which might
be sacrificed at the present time for
a small sum.
| Wildes continued with the state
ment that it was an impossibility to
| loans the nrpSpnt
time owing to the scarcity of money
all over the country. Every attempt
had met with practically the same
statement that you cannot get blood
ont of a turnip and his efforts in this
I line had been without avail.
The deposits at the present time
amount to S1,0S6,000.
REALITY
I Mr.. Wildes was then asked the val
ne of the realty owned by the bank
and gave the following estimates:
Carson bank, $4,000; Goldtield
bank, cost $4,000, value 100000; the
bank also owns the Sullivan Trust
company's frame b. S.aS at Gold
field and the Receiver places value
of $4,000 on the same. The Tonopah
bank building which cost the mag
nificent sum of $4,000 is given a
value of 100000 and $4,000 is placed
as the value of the building at Blair.
In all cases Mr.. Wildes stated, he
could not get these values at a fore
ed sale but had set them according
to what he considered a fair market
value.
Mr.. Wildes here testified that the
bank held 100000 worth of notes as
securities for loans but these were
not collectable at the present time
Lawsuits could be instituted but it
would mean great expense and lit
tie gain at the present time. The
same applied to disposing Of the real
ity owned by the institution. 1t