The Eureka sentinel. [volume] (Eureka, Nev.) 1902-current, 1910-04-23
REGARDING MISLEADING REPORTS
What Can The Eureka County Bank
Realize on Its Assets For
Depositors


an neither . prophet nor the son Of .
prophet. Yet is fell 70 my lot TO have
made two weeks ago the remark shat the
alleged bank hooters, In order TO create .
public sentiment In their favor In this
plundered community. would be apt
to send Colonel Mazuma with other
influences over here to be used In their
interests. Whether the Colonel has ar
rived or not. 1t 10 evident certain people
have recently been abroad spreading
the misleading report that the defunct
bank was solvent aud would pay
dollar for dollar. etc.
You will remember that when that gil
gantic swindle, the s ate Bank aud Trust
Company. failed. Hickey. its president.
and his ~apologists rave out . similar
balmy statement; that Hickey said he
would use his private fortune to repay
depositors. etc. ; so with others Whose
banks failed. This was some years
ago. Have they, or either Of them,
made good? or one.hfth good? And
where is Hickey? He 10 bssking in the
sunshine Of Californis and enjoying his
great wealth whilst his deluded victims
many OF them-ars toiling hard 70
earn and ave . few more dollars for
some other bank looter.
Eureka 'Faluvs," and Dollar for Dollar
Now. Mr.. Editor, few people in this
town could be found who would OK.
perience more happiness than the writer
we're the assets Of our local failure in
shape : pay dollar for dollar. or any.
thing like It. But I do not believe In
deceivinR the public, o in raising OK.
pectations only to have them dashed
when the final time comes. I would
therefore call attention 70 the only 70.
liable data 1t present in our possession
as to the assets Of the bank, and what
these assets may be expected to realize.
I refer to the sworn statement Of the
late Bank Examiner, n. N. Van Fleet.
now on file in court. All agree, or have
up to the present. on the high quali6.
cations of the deceased officer as Q
banker and expert. and no man a. yet
has had the temerity to impugn his
integrity. He testified to having ex-
amined the bank AFFAIRS and standing
on two occasions in the Summer (May),
1909, and on the 10Th of February, just
past, and made oath that on both 90
casions he had found the bank insolvent
and SO reported to the State Banking
Board of Nevada. He testified that on
March 20, when the application for the
appointment Of receiver was made. the
assets and liabilities Of the bank, az
taken from the books of the bank, were ~
follows:
Liabilities, e4S6. 841. Is or thereabouts.
Assets. 285, 98S. 70 or Whereabouts.
Showing --
shrinkags Of $500. S7s. 4S or thsrsabouts.
And mind you. the above estimate is
tfOA tno oUOAb VI tuo oaoAp Doosco NV
likely to belittle its standing. Van
Fleet then gives In detail the various
items making mp the shrinkage. which
he states ''include bad and worthless
loans on notes and advances made on
o~verdrafts and loss In Investments Of
bank stocks and other securities. which
with the exception of . few thousand dol.
lars, are all to the recount Of the Smiths
and Grifin." The Examiner then gives
in detail ~ follows the estimated real
assets Of the bank:
Good Notes e60.29S.6l
Good Overdrafts SO, 571.74
Good Stocks and Securities AZ. sSs. 90
Real Estate 4,600.0 90
Cash and Due from Banks 1854 80
SI9l, 8l9.07
The Examiner then says: "As stated
above the capital and surplus OF the bank
is entirely gone and therefore w elimi-
rate the same. % that what concerns ~
nov 10 the amount due to depositors Of
the bank. Az shown BY the books Of the
bank the amount due