Carson City daily appeal. [volume] (Carson City, Nev.) 1907-1930, 1911-10-05
Jam rs +. GREEN
Bank Matters

There is hardly a daay passes but that someone comes ,o this Of
flee and registers a kick and openly complains concerning the banking
cases that are going O n the courts. This is. hard material to handle.
1t is a proposition that touches the vita points in the livelihood OF many.
Hundreds of people lost money IN ough the bank failures in this city
and there seems to be little likelihood of any substantial returns ever
being made to the people who lost their savings There are many sides
the question, in fact it is like a revolving cylinder, there are n o par
tcular sides to settle I, they all look alike.
In the ase of the State Bank & Trust Company: No one with
good sens believes that the directors deliberately wrecked that nsttu-
ton. Men are not such fools that they will wreck the machine that
makes them money and a living. Circumstances came about that the
bank went 10 III wall atbousb il mav be true that if thu business had
been properly handled the failure would have been averted. n d-
rectors did not deliberately forfeit their stock, lose money Or wllfuiy
steal anything from the people. The failure took place and now to save
part of the wreck has been the que ston. 1t is currently reported that
he ;nsti+ution shor1vh 100. w.. dooSs wars closed drew nj his de
posts and thus saved his financial bacon. Thus far this has never been
an issue at the trial. is merely rum or and has never been proven
Since the failure Receiver Wndes has been in charge with a salary
that would fit a President of a going and money-making concern
Thousands upon thousands of dollars have gone INTO attorneys eS'
Laws have been passed and Two small dividends paid. More money
has been paid out to clerks and receivers and others who have benefit
ted, that has gone to the people who lost their good conn IN IN shattef-
ing of the institution. The calling of names and the expenditure OF all
this money has OF brought back a cent in fact it has taken a great
sun O money from the resources OF the where " Will N VIZ
cannot say and it is doubtful if anyone could make an intelligent Estate
ment on this score. 1t is such conditions that the depositors come 10
the newspaper Offices and val Information concerning. 1t is n % here
and i. is a discouraging position, to say the least We do believe hi
the law passed last winter reducing all such costs should be in effect
and stop any such proceedings in the future.
Then the Nye & Ormsby Bank case This failure is not Sc large
and a considerable amount of the money has been paid to depostofs'
The one item that interests the people and which is of vital interes to
every taxpayer and every person having business dealings with the
county, is the loss of the $4,000 county money to that bank 1t there
is redress by suit it should be instituted and prosecuted. If the bond
vas not good it should be SC deter mined. Considering the number OF
mel 0 the bond and their financial standing the payment could be made
If the men who are o n the bond are financially broke let them o
state. If there is n o money among them and the bond is not good, let
it be found out, but at least settle h bill way or ii other. This
loss affects every taxpayer in the county. With that amount OF money
returned to the treasury it would materially reduce the taxation bur
den and place the county affairs n sound footing.
The Appeal hopes to have some clear statements in this regard n
a few days. AS stated ednoiany son days ago, W are working o n
the proposition, but desire to be as nearly correct as possible under
the circumstances in which W have to dig Tut our information and
w e are about ready o publish what we can find out.
The matter is getting to be ancient history and should be settled
or wiped of the books. The mat tier oncerns every one, is OF the
most vita interest, should be public and n people are entitled &c
know the exact status. Until the Appeal took hold of the matter it has
been a dead issue, practically buried, but this paper, for the benefit of
it's readers and the interested people will not allow this cas- to be n
trely buried until it is dead-setded. The matter is getting to be n
cient history and should be either settled or completely wiped off the
books. The hire of the attorneys alone in this case would have wiped
out the debt and many others with it.
The fact that the directors of both banks are Carson people to a
greater extent makes the problem unusually hard to handle. 1t is hoped
that Judge Langan will now sake the matter down to a finish and find
out just where the county, the depositors, the two receivers and the
people are at-October 1902, October lo11-quite a while. and nothing
accomplished.