The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1910-11-26
Shoe on the Other Foot

r>HE Eureka County Bank, which was closed by the Nevada State
Banking Commission seven months ago, and which brought
down upon the board the anathemas of the opposition press
has paid another 25 per cent dividend, amounting to ~$So,14545, max
ing a total of dividends paid in the seven months since its suspension
of ~$16O,28290, which is by no means a bad record.
When the Eureka bank was closed an awful condition of affairs
was bemoaned by the newspapers opposed to Governor DckeSon
and his board, and commlseratlon was extended TO n Dankrups0 oM
munity of Eureka that the last Of their money had gone glimmenng
and that the state banking board, created to protect their interests
was nothing more than a lot of political scavengers who stood by anu
allowed the bank to be looted. Sympathy was expressed for the ds-
postors, as they would save nothing from the wreck, = etc.
With the payment of a second 25 per cent dividend within seven
months, the critics are as silent as CLANS. They have nothing 10 80!
The depositors have, however, and it is all in praise of the banking
board. The inside history of the banking boards connection Wh
the affairs of the bank, prior to its enforced suspension, have pecon'
known. District Attorney Henderson, who was induced to resign
and go back to country school teaching because of his lack OF hhs
for the office, has been succeeded by Attorney Mcfarland, a ,oo'u
lawyer of highest standing. He has gone into the affairs OF the Dam
and into the records of the banking board, which disclosed the enos
of the board to save the institution and it's deposOrs from rwn @a
his Investigations have put an entirely new light upon the affair." a'
instead Of blame being attached to the board, it is now receiving :"
commentator deserved for protecting the depostors to the extern"
thousands and thousands of dollars.
While the Eureka bank was insolvent when the state banking
board took possession Of all the banks of the state other than TN -
tional banks, it was deemed unwise by the board to close the 4 ts
that time, hoping that a large sum of money might be saved Smhs
who owned the bank and had looted it. The board was making s wd
progress, and certain stocks of the First National Bank OF EkO ,a GOV
cred. The Eureka bank owned stock in the First National Bank =
Rhyoite. This bank had been closed by the national bank t ehI Eursa
and a heavy assessment levied on stockholders. Knowing the =! ~ nnr
County Bank could not meet its assessment, the board rlh" raaavr
ceeded to close that institution. When the petition Tor a Ir
was presented to Judge Breene, he Immediately went IN Inc me hank
and lambasted the board for not having closed the Eureha hui
months before, when it was first known the bank was insolvehs, Js
this was before he had become advised of the reasons 10 inc aIorate
delay in acting. And it was from Breene's of-hand ~ spM cue
criticism that the opposition newspapers of the state took tnen ,mrs
The wisdom of the banking boards delay In closing nc mi Of
bank has been established and made patent by the dsDar sm which
these dividends were derived was saved to the bank hro uoJt for
activity of the banking board before it closed the Dank, re ~ md bis
which. by the way. Judge Breene is now claiming for hlmSes .ostIty
receiver in IN attempt to justify himself in his former ac's :"
to the banking board. pes
Judge Breene now finds the shoe on the other "N
pie of Eureka are aware of the fact.