Tonopah daily bonanza. [volume] (Tonopah, Nev.) 1906-1929, 1909-11-23
Directors Paid Nothing for
Stock in the Carson Bank
Boyd is Making Roadway in the Investigation
Of Nye and Ornsby County Bank Affairs.

The manner in which the affairs
of the Nye and Ormsby County bank
were conducted is being slowly
brought to light in the investigation
that has been going on for week
at Carson. The following is taken
in part from the News and relates
to the proceedings of Saturday:
Six days have been consumed in
hearing the testimony under the CT
tation issued by Judge Langan to
the directors of the First National
bank to appear and show what in
terest the Nye and Ormsby County
bank owns in the First National
bank, of Carson City.
All the directors Of the First
National bank, with the exception
Of Frank Golden, have been on the
stand. Each one has sworn that
he never paid a dollar for his stock
except T. A. Raycraft, who gave his
check to Golden two or three
months ago for his own ten and
George Mile ten shares.
Every one has testified that Col
was ever paid for in cash. Golden
paid for it. Ellis gave his note
about three months ago to Golden
personally. Decker gave his to
some one, he did not know whether
it was payable to Golden or the
bank, two weeks ago.
Boyd tried for six days to find
out when and how the First Nation
al paid for the real estate in Car
sen City which it occupies and
which belonged to the Nye and
Ormsby County bank He doesn't
know yet. In fact there are lots of
things he doesn't know and seems
unable to find out. He was unable
to find any security for the notes
of Ellis or Decker to pay for their
stock.
AS to the interest owned in the
bank by the Nye and Ormsby County
bank, the First National admits it
to be $23,500 of the total capital
stock of $4,000 Chartz started to
say yesterday that this $23,500,
with $500 from another source,
made up the second subscription
and full payment of the capital
stock, but was corrected by Golden.
The statement obviously was wrong.
Receiver Hall of the Nye and
Ormsby bank, claims a much larger
interest than is admitted by the
First National. 1t is this contention
that causes the inquiry. If it is
shown that the real estate and as
signed notes of the Nye and Orms-
by, or other transferred assets, ag-
gregate more than $23,500, admit
ted by the First National Hall will
win his contention. During the in
quiry many dramatic situations,
many damaging statements and sew
eral surprising statements have been
made.
Yesterday Hoffman of the First
National was identifying some notes
supposed to make up loan of the
First National, the security for
which are sixteen notes of the Nye
and Ormsby. Many of the notes
were missing, either paid or re-
assigned. Golden moved close to
Hoffman when the reading began
and Boyd attorney for the receiver,
made a bitter remark to Hoffman,
which was also addressed to Col
den The remark was uncalled for
and Chartz sprang to his feet and
protested. Golden clenched his
hands and Boyd sat alert for a mo-
ment. while others In the court
room looked for a physical demon
stration forthwith The court adj
monished Boyd severely, Chartz sat
down and the incident passed,
Hoffman was on the stand most
Of the day with hooks and records.
lie was examined on bookkeeping
details IN an effort 10 find the bali