Tonopah daily bonanza. [volume] (Tonopah, Nev.) 1906-1929, 1908-02-20
CASHIER
C(SHMAN
REPLIES
TAKES EXCEPTION TO CERTAIN
STATEMENTS OF GRAND
JURY.
Reply to Report of Grand Jury, rela-
tive to State Bank and Trust
Company, Tonopah.

After reading the report of the
Grand Jury as published in the daily
papers, and noting particularly the
criticisms as to the management of
the affairs of the State Bank and
Trust Company, Tonopah agency, |
feel impelled to publish few COM
ments on said report, which makes,
in my opinion. a number of asser-
tions wholly unjustifiable and un-
warranted. from my actual knowl-
edge of existing conditions.
The remarks that l shall make
in this article cover only the branch
.es of the State Bank and Trust Com
pany at Tonopah, Blair, and Man
haitian, as these points come under
the personal supervision of the writ
er. AS to the affairs of the State
Bank and Trust Company, Carson
City. where is located the headquar-
ters of said bank, or as to those OF
the Goldfield branch, have nothing
to say, for the reason that | know
absolutely nothing of the business
at these points
Our reports from each agency are
made direct to Carson, and twice
each year a statement of the affairs
lof the State Bank and Trust Com
Hbany as a whole is published for the
Information of the public at large,
and the stockholders of said bank
The Grand Jury, in making up its
report, has apparently completely ig-
nored all statements made under
oath to that body by myself relative
particularly to the Tonopah agency,
and has succeeded in making an en-
tirely one-sided and apparently pre-
JUDGED report, which places the
writer, who has had the manage
ment of the said agency, in a false
and uncalled for position with the
clients of the bank and the public at
large.
Regarding the closing of the bank,
1t will be recalled that this agency
closed its doors on October 23d
1907, at II o'clock a. m. All the in-
timation | had as to the necessity
of taking this action came to me by
wire from James T. Davis, our cash
ier at Carson City, Nevada, a few
minutes before closing, and upon re-
ceipt of his telegram instructing us
to close our doors, | promptly conf
piled. All the deposits received that
morning were returned to the deposl-
tors, and had we on the 22d of Oc'
tober received any intimation that
the bank was not solvent and would
close it's doors, this agency would
certainly not have received any de-
posts on that date, nor on any other
date on which we might have been
cognizant of such state of affairs.
In fact, up to this time the only
knowledge that | have had as to the
solvency or the Insolvency of the
State Bank and Trust Company
comes through the State Board OF
Bank Examiners, comprised of the
highest officials of the State. and
which Board after receiving report
from the State Bank Examiner pro-
nounced the State Bank and Trust
Company solvent.
At the time the Grand Jury sent 2
committee to this bank for the pur-
pose of examining our books, State
Bank Examiner Miller was present
and | wish to say most emphatically
that the only objection | made to the
examination of our clients accounts
NJ. the committee of the Grand jury
Us based on the fact that the rela.
tions between the bank and Its
clients are and should be as sacred
as those between a lawyer and his
clients. or a doctor and his patients
stated plainly to the committee
that If they claimed that crime had
been committed, and that they were
in search of the necessary informa-
tion to fasten such crime on the per-
petrator thereof. all objections would
be withdrawn. and the examination
permitted of any books and papers
connected with the matter,
The committee stated that 1t had
no knowledge of a crime. but as d
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