Carson City daily appeal. [volume] (Carson City, Nev.) 1907-1930, 1908-03-06

Last evening at the close uf the
meeting Of The State Bank Commits
sion the following order was issued.
Mr.. Ryan was called to Virginia City
and for that reason his name does
not appear at the bottom of the state
ment Governor Sparks signed his
name to the statement at his home
at Reno last night.
Mr.. Miller has not as vet presented
his complete tabulated statement to
the commission but will in the next
few days
In speaking of the statement
member OF the commission stated
this afternoon that the statement had
been made owing to the fact that
Examiner Miller had notified the
bank officials that they could not
continue the trading Of accounts
The commission did not see it in this
light and yesterday recnJed the or
der made by the Bank Examiner and
notified the directors of the State
Bank and Trust Company that they
couId do all the trading of accounts
that the ydeemed fit.
The statement follows and tells its
own story:
Office OF the Board of State Bank
Commissioners
Carson City, Nevada.
March ), 1905.
Whereas. Tho State Bank Examin-
er, NJ. H. Miller. an appointee of the
Board of State Bank Commissioners
on or about the Goth. day of February
1908, ordered and directed the State
Bank and Trust Company, and its Of
ficers and the officers uf its various
branches, to cease trading and
shuff1ing accounts:
And Whereas. Said Bank and its Of
ficers have intimated that they under
stand such order to mean. that they
shall not accept checks executed by
depositOrs on deposits in the bank.
or shall not assign on the books of
the bank a deposit from depositor
to debtor: or shall not strike a bal
ance between the amount due such
bank of said debtor. or shall not set
tie obligations due such bank in any
other manner than by accenting cash !:
, or. by the crediting of an obligation
[ duo 1,,t L,,
against debt due by such depostor
. to such bank:
| And Whereas. Said Bank Examiner
| has notified such bank and its of
: ficers that such character CT bankine
business is unsafe. and has reported
his action in such matter to this
board;
And Whereas. In the opinion OF this
:, board. said banking institution. and
its various branches. are in the sole
and exclusive management and con
troll of the directors thereof. ant
;. were not at the time said order wa
made. and are not now in the hand
of. or under the control of Said Banl
Examiner, or this Bank Commission
by reason of the fact. that prior t
Z said date the Bank Examiner wa
y directed to surrender possession an
e control of said bank to the director
II of that institution;
And Whereas, Said practices. whic
said Bank Examiner. has ordered an
directed that said bank. and il
; branches. and the officers thereof
Z shall discontinue, are the usual an
y customary practices of banks. banl
n ing institutions. and in fact, all othe
n commercial institutions and hay
u been from time immemOrial;
n And Whereas: To prevent sue
\ practices would be practically diss
< luton of such bank AID banking CO
I. poration;
~ And Whereas, Such dissolution CT
N only be accomplished through IL
N appointment of a receiver;
m And Whereas, in the opinion Of th
~ board. it has not been demOnstrat,
Y: or shown to this commission that Il
w bank is insolvent. or that there n
w been a preference Of creditors,
m that there is liable to be a preferen
m of creditors, or that said institute
IN cannot be rehabiliated by its o,
* TE board of directors with the assistan
w of the deDOsitOrs of such lnstitutio
w And Whereas, it is the opinion
this board that such practices CO