The Eureka sentinel. [volume] (Eureka, Nev.) 1902-current, 1910-04-16

A. Yes. sir.
@. You are going to look for every
thing in the bank
A. Yes sir, we will 90 through the
bank and find everything hat is there.
That is all.
A. b. Wilcher was called, sworn aud
testified as follows:
Mr.. Henderson-Mr. Witcher, have
you been a member of the State Bank
ing Board
A. 1 have
q. When did you first take Office as
a member of the State Banking Board
A. In April. 1909.
@. Have you served in that capacity
until now
A. Yes. sir.
@. Are you filing any office en- the
Board now
A. l have recently been appointed
State Bank Examiner.
@ You are State Bank Examiner
now, are you not
A. Yes, sir.
@. You arrived in Eureka yesterday
A. Yes, sir.
@. Since coming to Eureka have you
been consulted regarding the selling of
this stock Of the First National Bank of
Elko. held by the Eureka County Bank
A. l have, yes. sir.
Q. Were the matters gone into fully
A. Yes sir. the matters were gone in
to fully; | knew Of them-of the cir
cumstances before coming here.
@ Do you consider the sale at this
time, Of this stock to Mr.. Gedney at $50
per share q fair and reasonable offer.
A. Yes sir, l do, for more reasons
than one. My particular reason is. l
know that assessment has been ordered
against that stock; to the best OF my
knowledge that assessment is $40 per
share; that would then make this stock
worth $50 per share.
@. You think. then, that $50 per
share would be a fair price
A. l do.
@. You think. if the Receiver is al
lowed 20 make this sale he is getting a
fair amount for the stock
A. do.
@. You feel in selling this stock the
interests of the depositors are being pro.
toa4aI o,l "a - - kIos~ s,ta~aot 70 aalI
it
A. lido.
The Court-Are you still a member of
the State Banking Board
A. think l am; to the best of my
knowledge / am but there might be a
question of law there as to whether l
was not holding two positions under the
State.
Toe Court-You recommend as State
Bank Examiner the sale of the stock at
$50 per share
A.. LIDO.
That is all.
F. s. Gedney was called. sworn and
testified as follows:
Nj. Henderson-You are the President
of the First National Bank, Elko
A. | am.
Q. Did you receive a notice from the
Comptroller of the Currency that an
assessment had been levied upon the
stock of the First National Bank of Elko
A. The Comptroller does not levy the
assessment. We received a letter from
him directing IS to assess this stock;
then we levy the assessment.
@. What will be the amount of that
assessment.
A. l am almost certain that it will be
$40 per share, from my information
from what Mr.. Mallet told me. The
Bank Examiner had seen him the day /
was over in Eureka; that was the Esd
day of March. and from what he told
Mr.. Mallet I should judge it would be
$40 per share.
@. At this time your firm belief is
that the assessment will be $40 per
share.
A. Yes, sir.
Q. Did you agree with Spencer Rey-
nolds. the Receiver. in the presence Of
Mr.. Witcher, that should the assess
ment not amount to $40. you would pay
the Receiver the difference.
A. / have. l understand that it is
the agreement that l AN to pay You the
difference between $50 and the amount
of the assessment.
Mr.. Henderson-Well. I am to pay it
to the Receiver for the depositors.
The Court - In other words, you
agree that you will pay for this stock
$50, aud should the assessment you
have spoken of be less than $40, you will
pay the difference to the Eureka County
Bank.
A. That is exactly the agreement; |
pay the par value of the stock less the
assessment.
Mr.. Henderson. Are you willing at
this time to turn over to the Receiver
$27, 800 for this stock.
A. am.
@. Are you willing. in taking this
stock, to release the attachments against
the bank.
A. Provided there is no more stock
in the Enreka Comfy belonging to the