Lovelock tribune. (Lovelock, Nev.) 1898-1912, 1908-02-21
RICKEY PLACED
UNDER BONDS
Former President Accused Of
MiSmanagement.
Nye County Grand Jury Probes Deep
" iafO Affairs Of State Bank and
Trust Company -... Other Arrests
Likely to Follow.

Criminal delay on the part of the
state bank commission, criminal se-
cretiveness on the part of officials of
the Hickey financial syndicate since
the suspension and a scoring of the
men connected with both organ
izations, were contained in the re-
port of the Nye county grand jury
received at Carson City.
The Hickey corporation man.
ayers were accused by the grand jury
of blocking its investigation when
ever possible; the bank commission
was accused of refusing to furnish
evidence or act when called on, and
Attorney General Stoddard was gent
ly reprimanded for the assistance he
did not give.
The Nye county grand jury's report
says in part: Hundreds and hun
dreds Of thousands of dollars were
given away by the Hickey banks, Sc
cured by the most fimsy and friv-
olous collateral. The earnings. saw
ings and deposits of the people at
large seem to have been ruthlessly
shuffled away, and in its stead there
remains in most instances only paper
collateral which. in aur estimation is
now and always hss been a poor and
trivial security for the money it rep
resents.'
The action of the grand jury Great
ed more of a sensation than did the
evidence in the second day of the
Hickey trial on an embezzlement
charge. With the exception Of
the receipt of telegram that a
Hickey loan to the Keane Wonder
Mining company, of $4,000 had
been recalled, nothing but the former
presidents lax methods of business
was produced at the examination.
However, it was shown that when
Hickey wanted to make a loan he
would make it. Later, in directors
meeting, he might tell his associates
that he had ordered such loan and
that it was all right"
Also it was made known that 7. B.
Hickey nearly always held the pos
ition of president or director of
every corporation to which he loaned
the funds of his banks.
Directors Brougher, Meters and
Woodbury., the latter state senator,
and the former wealthy Carson
man, denied on the stand that they
we're aware of the insolvency of the
Hickey banks before suspension was
announced.
Others connected with the State
bank are under the surveillance of
the prosecutors detectives, and it is
rumored that arrests may be made.
Additional evidence was produced to
show that Hickey accepted deposits
until the hour of closing,
The afternoon session of the ex-
animation of Hickey brought out sew
eral items of interest. Bank Exam
iner Miller, on ss.examination.
stated that on his investigation, he
couldn't report anything criminal in
any of Rickey's loans or his connection
with the bank. As far as he could
ascertain, Hickey didn't owe the bank
cent. Several clerks of the insti-
tuition we're on the stand, and all
agreed that they had 20 idea that
the bank was insolvent. They. in
fact. were anong ihs depositors.
AS the bank commission is not salts
fed with the tabulated report, Ex-
aminer Miller will Immediately go
over the accounts of the bank and
make another report.
Justice Folsom bound Hickey over
to the grand jury on charge of
embezzlement. He fixed his bail at
$4,000 which was furnished i'm
mediately. A new grand jury has
been called.