Carson City daily appeal. [volume] (Carson City, Nev.) 1907-1930, 1908-04-24

ton committee. has pressed the point
with every force at his command.
As last resource. it was made plain
TO the Bank Commission that by and
through the influence Of the indiyid
ual members Of that Commission. OF
10 speak more accurately. tlr0ugT, he
Influence Of Douglas ard Ryan. mem
hers Of the Commission that Mr..
Rickey could be brought to realize
fully his moral Obligation, and that
he would finally consent to nut IN
the Droportionate amount requested of
him. In a word he consented to Go
this. At four thirty o'clCcI, yesterday
afternoon s2i7,50o was actually
pledged by Mr. Rickey ana certain of
the directors and stockholders of the
bank as an additional cash asset for
the resumption of the banks business
Napes and Bender. stockholders and
directors residing at Reno. wired that
they would protect their holdings to
whatever extent Hickey would protect
his. Other stockholders and direct
ors offered similar pledges. ard why,
in the name of reason. common sense.
fair dealing and justice, after knowing
these things. the Bank Commission
insisted unon the Attorney Generals
filing his application for Receiver.
is something more than I can under
stand
''Was the Commission sincere when
its individual members assured the
rehabilitation committee that they
would cooperate with it toward the
reOpening of the State Bank and
Trust Company, or what reason can
they give at this time in explanation
of the fact that when the funds nee
essary for the opening of. the bank
| were forthcoming, the Commission
suddenly throws up it's hands and in
, structs for Receivership. I am
speaking plainly, but there is some
thing else I want to tell you
"On March q, 1908, the entire re-
sources of the State Bank and Trust
Company were s1,612 9O232. The en-
| tire Ebalities upon this date. includ-
| ing of course deposits amounting to
81 ,057 .S92.72 amounted to S1'149'5493S
| The excess resources on this date
were S463 ,35294 In other words,
the above amount of excess re-
| sources may be wiped out and lost
| forever, and yet the bank could pay
depositors dollar for dollar.The State
Bank Commission knows this condi-
tions of affSirs, and yet they have
peitioned for a Receiver upon the
grounds of insolvency. Nearly a
month has passed since that state
ment was made, and n safe in
stating that the amount OF excess re-
sources at the present da-e, exceeds
the figures above set forth. Now one
word further.
Il have continuously fought a Re-
ceivership for the reason that my
examination of the banks condition
led me to the inevitable conclusion
that it was unnecessary, and that 1t
would intimately lead to a loss to
the depositor. No sane man
with any conception Of the banking
business, after an examination of the
condition Of the State Bank and
Trust Company, would make the un-
equivocal statement that the bank
could not be rescued for the safety
OF the depositors without recourse
to a receivership.
'I have worked untiringly with the
reorganization committee in an effort
to convince Mr.. Hickey, and the pres.
ent Board OF Directors of thier mora
land legal duty to Lepositrs. On yes
terday afternoon. at half pasta foul
o'clock, Mr.: Rickey, certsinsof thu
stockholders and directors stood read!
to make good. 1t was believed tina
the long struggle had at least beel