Carson City daily appeal. [volume] (Carson City, Nev.) 1907-1930, 1908-06-15
NON HAND
MOUNTS TO $2500
Utilities Are Estimated at
$4,000. Examiner H0fer
les Charge of Institution

lished a branch in Rawhide last Jan
uary.
In April. owing to the considerable
volume of business then being trans
acter it was considered advisable to
incorporate the Rawhide branch as
separate bank and charter was OBJ
tanned under the name OF the First
Bank of Rawhide. During the past
few weeks, however, owing to the
number of people leaving the camp
we lost about per cent. of our de
posits, although every demand was
met without difficulty
''As it appeared we were not likely
and there was therefore no immediate
necessity for my presence in Rawhide
came to Reno four days ago with
the purpose Of interesting capital
and hoping to dispose of part of the
unsubscribed bank stock. AHvices
/ from the bank did not disclose any
further depreciation and l was, there
fore. surprised to learn from Messrs.
Pyne and Rickard directors OF the
bank, who arrived in Reno this morn
| ing, that there had been no further
decline in deposits.
.As it was not certain that out
standing loans could be collected
quickly enough to meet any further
possible decline it was considered
advisable for the protection of every
body to close the bank until the
State Bank Examiner could make his
report, which will he will do on
Tuesday. 1 have therefore wired the
cashier to close the bank until such
report is received.
RUSSELL PRENTICE.
: Directors Rickard and Pyne have
made the following statement re
garding the closed bank and thei1
interests in its affairs:
about two months ago E. A. Aid
e rich. formerly for four years assistan
5 cashier of the Static Bank and Trus
s Company of Goldfield, came to us ant
t told us that he could secure the posi-
/ ton of cashier Of the First Bank o
e Rawhide if we would subscribe 70
d some stock in that bank. Aldrich de
e clared that the loans Of the Firs
y; oil vic Crh
: cepting s25OO worth.
e He said thatt he deposits amounte
y to about $12O,OOO. He asked us t
% go into it in order that he might &c
st the position mentioned. We granite
d the request of Aldrich, Pyne sub
le scribing for $500 and Richard $500
worth of the stock of bank: Ale
lc rich was accordingly appointed II
* cashier. We (Pyne and Rickard
lie went in as directors on April II las
le The Wonder Bank and Trust Cor
n. pany which had been run original
at as bank in Wonder, started in ia
in uary last a branch at Rawhide, whie
j. in April was taken over by the Fir
re Bank of Rawhide. The First Bar
n of Rawhide was incorporated wi
IN Russell Prentice for $4,000. H. Y
is Huskey $1,000 and B. S. Bethel SO
is At the time of taking over the bran'
of the Wonder Bank, the First Bal
lk of Rawhide was organized for $500
t; After this organization we went in
d. the bank as aforesaid. The deposi
re. were over 100000, the loans abo
de $4,000.
by The bank went along until abo
de May 13, when Mr. Pelton, dissati
fled stockholder in the Wonder bar
n commenced suit against Prentice a
all the First Bank of Rawhide, allegi
ng that he had not received his part
ng the profits of the transfer to the FIJI
IRE Bank of Rawhide and asking that
b. Receiver be appointed for the bal