The silver state. [volume] (Winnemucca, Nev.) 1909-1925, 1923-01-04
BANK STATEMENT
SHOWS PR0SPER
First National Report Shows In
crease All Around, With Cash
in Vault Nearly Half Mil
lion; News Important

The report of the First National
Bank of Winnemucca, one of the
oldest and strongest financial insti-
tutions in the western country, is
sufficient within itself to create joy
in the positiveness of improved fl
nancial conditions, about which all
prosperity generally revolves. The
financial report of the bank is sup
piled in compliance with the re-
quirements of tire comptroller of the
currency of the United States treas
ury department, the bank being un-
der this strict government super
vision. The call for the report was
issued to show the condition of
banks at the close of busiess De-
cember 20.
The local bank shows large in
creases in practically every division,
from loans and discounts to re-
sources and undivided profits. Com
pared with the previous call for a
showing of financial standing, is
sued last September 15, the First
National shows an amazing increase
in cash and sight exchange of $175,-
003.19, which represents the differ
ence in cash on hand September 15,
of $267 ,216.63, and the cash on
hand today, which is $442 2,219.82-
nearly half a million dollars in
the bank vaults or represented by
checks paid and held for other
| banks.
The total resources of the bank
have increased S179,966.68 during
the three-month period between the
two calls for bank statements,
total resources now being shown as
S2,740, ,924.69-a figure probably
not matched by any other banking
institution anywhere in a city of
less than 1000 inhabitants.
Loans and discounts have like
wise increased, which means that
business men and other customers
of the bank have ben provided with
money for expansion. But the best
news of all is the enormous in
crease in deposits, which during the
last three months t-avea inere,. -
1895, ,313.65, being $1,991 ,856.57 on
September Is, and s2,287, 7,170.22 on
December 20. That means that
people in general have more money
to their credit in the bank-much
more money-and is proof positive
that times are on the upgrade.
One interesting item in the re-
port is Undivided profits, $751;
454.47." Undivided profits include
not only that money which is re-
served for payment of bills and to
stockholders, and for taxes but
also for losses incurred by every
bank when, perhaps, some bor-
rover rolls over and quits the fight.
This item shows an increase of ap-
proximately $4,000 and now totals
S51 ,454.47, indicating that all is
not sunshine and roses during these
times even for the supposedly rich
and thoroughly independent bankers,
which dream, by the way, is fall
lacy, for when hard times come it is
usually the banker who carries the
heaviest load, loses the most sleep
and gains the most grey hairs.
But the showing made by the
First National speaks in highest
terms of the foresight and banking
ability of its officers and directors,
and particularly is this true in re-
gard to Senator J. Shehan, vice
president and cashier, within whom
| the welfare of the institution is re-
posed almost exclusively. With the
showing of greatly increased de-
| posits and the banks normal asset
of $300,000.00 represented in capi-
tai and surplus, and liquid assets
represented by half a million dol
lars, in cash and sight exchange,
the bank is in position to meet any
emergency, and for this the people
of Winnemucca and Humboldt coun
ty, and for that matter the entire
clientele of the bank in northern
I