Carson City daily appeal. [volume] (Carson City, Nev.) 1907-1930, 1908-07-20
Statement filed
WITH COURT TODAY
Mismanagement, Negligence and
Business Neglect are Among
the Many Charges Made by
Receiver WildeS. Hickey
Receives Bulk of
the Blame

lars ($3S7 ,000.00)-in about the same
condition as were those made by
the Tonopah agency. In taking over
the cash there the discovery was
made that the Assistant Cashier who
by the way had departed. had re-
ported to the home office in Car
son City, certain amount of cash on
hand-approximately Forty Thousand
Dollars ($40, 0,000.00). The amount OF
actual cash turned over to your Re-
ceiver was Thirty three Thousand
Six Hundred Dollars (s33. 3.60O.00), the
balance being made up of cash tags.
Ii is clear to my mind that the in
dividual who reports cash tags as
cash is personally responsible for
their conversion into such; but in
every instance of these cash items
they were represented to me as being
legacies from former employees, who,
OF course, were no longer with this
concern
The same reckless, irresponsible
spirit which dominated the affairs OF
the Tonopah branch, appeared equal
" rampant in Goldfeld. | cannot
saw anything good of the management
Of either agency. The acts of the
Directors OF the bank and of those
under them can only be partially
justified, by the assumption that they
were grievously misinformed.
Blair The examination of the
agency at Blair resulted in closing
the same. The bank owns the build
ing and the fixtures as we'll as sew
eral pieces of real estate, on which
we can possibly realize fifty per cent
(5O per cent? of the cost. In fact
am now making an effort along
these lines with Goldfield people.
Procrastination and Neglect
In Goldfield | found that for sever
al months-four at least-a large
force of clerks was employed on full
salary; this since The State Bank and
Trust Company closed it's doors.
Questioning those in charge of that
branch brought forth only the non
chaIant reply: From time to time
We expected to reopen the bank" !"
Yet information is clear that the
branches were notified to practice the
strictest economy; but they certainly
failed to do so and made no effort
to sustain the bank in this direction.
In these branches | find absolute
neglect on all sides. Deeds were un-
recorded, valid obligations allowed to
accrue unnecessarily, Thousands of
shares of mining stock certificates
were not endorsed. carelessness on
every hand in matters OF vital i'm
portance. live business matters nine
months delayed, because of the gross
negligence of those in charge of, and
responsible for, these branches.
Promises! Promises; and Procrasti.
nation! ..-
Some Reasons For Failure
What brought about the deplorable
condition Of affairs which surround
this institution? 1t cannot be denied
that the financial condition prevalent
throughout the United States was the
primary influence. But the ability to
forsee just such disturb ances, to read
and profit by the signs of the ap-
preaching financial storm, to have
provided adequate shelter, and to
have left, at no time t9,c main struc-
ture unprotected, is .,.st one of the
essential qualifications which dis
tinguishes the capable banker and
financier from the man who must,
of necessity. make a failure during
adversity, of an enterprise for which
he has neither special training nor
marked adaptability. Emulation and
imitation may have had much to do
with ito get above someone else,
as in the case OF the five-story build.
ing in Tonopah. The establishment.
OF four branches indicate some greed
the limitation, of a small capital
could never have been considered.
IL must have been lost sight Of in the
\ glamer OF millions of dollars in de-
positors' money; and temporarily at
least, dividends were likely to come
Every man and woman whom |
have interviewed unreservedly
places the whole blame upon Presi-
dent T. B. Hickey, All can say
to this is: Hickey must have been
a. tarnation smart man" to know the
condition of every account on the
books Of five active banks Self-con
fldence and possibly the desire to b.
recognized and called the biggest
banker in the State, and the richest
man. may have something to do with
It; but no living man could have had
an intimate. knowledge Of all that Is
laid to his door, Notwithstanding his
undoubted talents along certain lines
Possibly his agents could rightly
% ''."-. 's'.,-t-a.t s.sss.rs- sgrs>-