Carson City daily appeal. [volume] (Carson City, Nev.) 1907-1930, 1909-03-11
BANK COMMISSION
Confined from Page One) .

Brooks, Did you make any clOrt
10 protect the depositors after the
closing of the bank or at any other
rime?' hyan. II don't remember,
the minutes are gone. | always
wanted to do the best thing for the
depositors. that was my first consld-
Grafton"
Boyd. Have o n reports 10
show the depreciation OF assets ana
liabilities up to the time Oh the APP
pointment Of the receivers Ryan
don't remember. the minut@s ar"
n the report Hofar made might
show that. or the receiver might 10
able to tell
Mr. RYAN then went over the trans.
action of the $4,000 in Douglass
personal account. CorrOboratinS Doug
lass statement in regard 10 the mat
fer. The commissioners also stated
that when the receiver was asked
for by the commission. the chairman
and attorney Of the renabllltatlOn
committee Ccnsured the commission
for so doing and in reply to a qucs
ton as to why the commission allow
ed the trading of accounts, SAID th"
commission had no jurisdiction, the
bank was never declared inSOlvcnt,
though Miller stopped the trading
in his order from Tonopah. BY that
time the ovCrdraft at the carson
City bank had been reduced from
$4,000 to $4,000.
Brooks. Did Miller ever ask for
a receiver" Ryan. No.
Brooks then showed him a letter
and export OF Miller dated Feb - in
which Miller ordered trading OF ac-
counts To cease and recommending a
receiver he appointed. Mr.. Ryan
looked at it and said Il wouldn't
swear that | ever saw that before, "
and asked why he never saw it, said:
II might have been in the Governors
ONCE. | am giving my evidence as
nca as | can remember
Brooks. Those things were permit
ted in face of the report Of Miller
VI February l5?" Ryan, II had moth
ing to do with it,"
brooks. No receiver was appoint
cd in spite of Miller's recommended
ton at that time. why" Ryan. Tho
rehabilitation Committee asked us
NOT to. in fact We were harrassod in
every way, Attorney Sam Plat
was firm in the opinion Hickey would
come through with the Sl00.0 600. |
was anxious to see the dcpositOrs get
their money and delayed on that ac-
COunt
Boyd. Did any of the ]depositors
urge a r]ecciver?" Ryan. NO"
Boyd. Did the bank suffer from
the trading of a]ccounts?" Ryan, Il
could not say as to that"
Asscmblyman Brandon asked Ryan
the same line of questions about the
mining stock security and Ryan eX-
planned in a general way the fuCtua-
tons Of the stock market and was
excused.
RECEIVER WiLDES
Receiver Wildes "a sworn and
Senator Boyd asked nim about the
books. about his status and If he
could furnish the committee with
statements. and he applied in the al
iirmativc after explaining his ap.
nnint nnant hia pntinnG aud tho GtDtnL
OF affairs under his management. He
said he is in favor Of trading of aC-
counts when properly done and that
the bank did not suffer any consider
able loss by trading OF accounts,
though depositors who had no oppOr-
tunity to trade might nave suffered.
BANK WAS ~lNSOLvENT
Boyd. What do you consider was
the state of the bank when it closed.
Wildes. 1T was absolutely i%nsOlvcnt.'
After a discussion of trading Of ac-
counts Senator Boyd stated that
what the committee wanted to know
II there was an dereliction Of duty on
the part OF the commission that aus
cd loss to depositors, that the com
mittee wants tgures, that it wants
q statement Of assets and liabilities
of October %, 1907. u statement at
the date when the receiver tOOk
charge, and a statement of the am
cunt Of trading done. and he asked
IT the receiver could give the com
mittce those figures. Mr.. Wildes re-
plcd hat he could.
Asked by Senator Boyd what the
receiver is doing to clear up the aft,
airs of The bank, Mr.. Nildes stated
that he is calling in loans. trying to
sell assets and doing all possible tC
realize on money due the bank from
its debtors md stated that he will