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RUMONS. - That the First National Bank, at Austin. has suspended payments; and that Len Wines has purchased an interest in Hill Beachey's stage line from this city to White Pine.
First National Bank of Nevada (Austin, NV)
Episode Information
- Episode UID
133100838- Episode Type
- Run → Suspension → Closure
- Bank Type
- national
- Bank ID
-
13310national - Charter Number
- 1331
- Start Date
- October 7, 1869
- Location
- Austin, Nevada (39.493, -117.070)
Metadata
- Model
- gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
- Short Digest
a32bfa676ed16ce2
Response Measures
Accommodated withdrawals, Public signal of financial health, Full suspension, Books examined
Receivership Details
- Depositor recovery rate
- 92.7%
- Date receivership started
- 1869-10-14
- Date receivership terminated
- 1884-05-16
- OCC cause of failure
- Losses
- Share of assets assessed as good
- 18.1%
- Share of assets assessed as doubtful
- 69.2%
- Share of assets assessed as worthless
- 12.7%
Description
Sheriff took possession after attachments; receiver E. S. Davis later appointed.
Events (5)
1.
June 23, 1865
Chartered
- Source
- historical_nic
2.
October 7, 1869
Run
- Cause
- Rumor Or Misinformation
- Cause Details
- Prevalence of rumors and a dispatch from Hamilton: 'Take no checks on the First National Bank. It has failed.' also linked to trouble at the Hamilton/White Pine agency that drained funds.
- Measures
- Assistant cashier paid out about $8,000–$10,000; bank closed for the night; assurances given by heavy depositors.
- Newspaper Excerpt
- At about seven o'clock last evening Main street in front of the National Bank was the scene of an extraordinary excitement... The bank was opened, the men rushed in, and scores of trembling hands presented certificates of deposit at the counter.
- Source
- newspapers
3.
October 7, 1869
Suspension
- Cause
- Government Action
- Cause Details
- Attachments sued out by creditors and sheriff/court took possession of the bank's effects, preventing business.
- Newspaper Excerpt
- The door was opened by Deputy Sheriff Taber, who informed the crowd that the bank could transact no business then, as he had taken possession of all its effects by the mandate of the court.
- Source
- newspapers
4.
October 14, 1869
Receivership
- Source
- historical_nic
5.
October 14, 1869
Receivership
- Newspaper Excerpt
- E. S. Davis, Receiver of the First National Bank, by his attorney made application to compromise bad debts and sell personal property.
- Source
- newspapers
Newspaper Articles (16)
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It was taken from the work $2 per City pound. claim. kind Dr. of Frank bromide Thayer of silver has Mountain finest rich one of the Numerous other specimens. of the and specimens. rare, are to be seen in all sections town, from the Cope mines. NEW DANCE HOUSE. stranger on arriving town during the night time, would suppose going in the amount of music and dancing from that we were decided votaries of Terpsich- rather on and crazy ones at that. who were evidentore. pleasure. But it is not, comer overdoing a for an enterprising new laid for ly. overdone, Corinne is having the flooring erected, from house larger than any vet Dance House. a which dance will be known as the U. P. TRAVEL SOME Dest.- person just arrived SOME from Cope district, states the be number enoren route to that place to with of wagons and that they are mainly merchandise. loaded mous, machinery, lumber and the movemilling of flour dust raised by and The clouds the wagons are perfectly stifling. road for ment can be of seen at certain points on the miles in either direction. FINE SPECIMEN Fred. Hafford received the Thursday last a piece of ore. from Mountain on City mine, in Cope district, full weigh- of pounds. which is literally office and ing fifty-two chloride of silver. It is at his silver the is for such a mass of pure to be worth rarely seeing ever found. This ought district is all right. enough ore is to convince croakers that Cope THE NEW SCHOOLHOUSE Mr. L. H. Nolte. work expects to have the brick schoolhouse ready for of the the contractor. completed, roofing the by best toIt will be, when schoolnight. and most comfortable school will constructed State. The district of house in in the all probability. about the first open. November, with at least 160 scholars. LONG FREIGHT TRAIN.-The freight train from of Central Pacific Railroad yesterday, the west consisted of thirty-five cars, fourteen Lumber the which were loaded with lumber. of been arriving in about the same propor- we unhas day for the past week, and yet unfilled. tion derstand every there are large orders for lumber THE LATEST PICTORIALS. The latest newspictorials, periodicals, etc., and Smith a new & stock papers, of stationery. can be found at drug store, opposite the Cosmopoli- idea that Douglas' Hotel. They have an insane else, and tan sell cheaper than anybody their they can motto is "cheap. cheaper. cheapest! HEAVY ON TOWN JUBORS. A law passed at last session of the Legislature, allows be compensation the of three dollars per diem, to by the county. to only such petit and miles paid as live a distance of five twenty grand from the jurors Courthouse and a mileage of cents each way to all jurors. .. A MILL FOR COPE. Atchison & Co.'s qquartz mill was shipped from this town, on Weunder- Wednesday, for the Cope mining district. and that it took over thirty wagons from six back-actions. stand each drawn by a team of to eight animals, to do this transportation SCHPENDED.-Work in the construction of the Courthouse has been suspended for the two or three days, owing to the from non-ar- San past of the iron doors and gratings of it. rival required for the jail portion by Francisco It is expected that work will be resumed the masons on Monday next. DECLARED A COUNTY ROAD.-Based upon a petition from the residents of Ruby valley, the Board of Commissioners has declared Humthe traveled road from Camp Ruby to a old boldt Wells, via Ruby and Clover valleys, county road. NEW STAGE LINE TO COPE Enright, the enterprising expressman, has this week put on to first-class line of stages from this place district Mountain a City, in the Cope mining in one day. Passengers can now make the trip BCILDINGS.-There are probably not less fifty frame, brick and stone building for in than of erection in this town to-day. saloons course as dwellings, stores and before occupation tents are rapidly disappearing The the army of carpenters and masons employed. IN CHOKEE. James Riordan, for putting a head on Mrs. McGarraghan of police notoriwas on Wednesday fined $28, and, in deety. fault of the payment of which. was sent up to the Hotel de Chokee" for 14 days. PERSONAL Charley Rhoades, the celebrated banjoist. of negro minstrel motoriety, has arrived in town. He is to pick the strings be at Pierson's Washoe Saloon. and swears that won't play nigger any more. RUMONS. That the First National Bank, at Austin. has suspended payments; and that Wines has purchased an interest in White Hill Pine. Beachey's Len stage line from this city to DR. I. WHITE desires it to be understood that office is in the first building below hereto the Gem his Saloon. and not in the second as fore advertised MARR.- Rev. Father Mevall will hold
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about 3,000 majurity. The House will be Democratic and the Senate Republican. New York, October 12-The World's Philadelphia special saye that the Democratic committee claim the State by 6.000 majority. Columbus, Ohio, October 13. -The election is doube ful, The House is probably Democratic and the Senate Republican. Hayes' majority will not bu large. The Democrats claim that Pendleton is elected and are very jubilaut, firing cannon and having torchlight processions. Philadelphia, October 12-Formey's press says that the Republican majority in the State is not less than 8,000 and may reach 10.00). The Repablicing have both brauches of the Legislature; in the Senite three majority, and a still larger majority In the Hous: than last year. Williams, for Judge, has probably run ahead of Geary 2,500. Pittsburgh, October 13 -Alleghany county gives Guary four or five thousand. There was only about a two-thirds vote out. The Democrats gain in western Pennsylvania, and lose in the eartern part of the State. Chicago, October 13.-No further or more definite news can as yet be ohtained concerning the Ohio election. The State is claimed by both parties and the Legislature is still doubtful. Philadelphia, October 13.-The City Council will have a Repablic ⑉ majority of 30 on joint ballot. There is no date to indicate the majority in the State, but all the papers but one conceile Genry's election by from five to ten thousand majority. A Wa-hington special says that the First National Bank of Austin, Nevada, has failed and so receiver will appointed re-tuday. This is the first National Bank tailure eiuce the last annual report of the Comptroll.r of the Currency. 192 Lodges were represented in the Masonic Grand Lodge of California on last Wednesday. The Oregon State Fair opened on Wednesday-the best show ever had in the State. Several Democratic members of the Washington Territory Legi-lature have h.ft for parts unknown. breaking the quorum and thus preventing the etc. tion of Territorial officers hy the Republican majority. The mergeant-at-arme-has sent after the seceders. The branch mint. at Carson, is now ready to commence coining half dollars.
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DANI e Additional Particulars-Suepension of the First National Bank at Austin-Iutense Excitement. [From the Reese River (Nev.) Reveille, Oct. 7.] At about seven o'clock last evening Main street in front of the National Bank was the scene of an extraordinary excitement. Men gathered there rapidly from all directions, and soon there was a dense and excited crowd in the street. The excitement spread 10 Lander Hill and reached the lowest depths of the mines, and miners, with great drops of sweat upon their blanched faces, left their stopes and drins and came to the surface and walked or ran hurriedly to the bank. The excitement of these men was intense, for rumor led them to fear that their hard-earned deposits were in danger. The bank was opened, the men rushed in, and scores of trembling hands presented certificates of deposit at the counter. The sum of $8,000 or $10,000 was paid out by the assistant cashier; a few words of aseurance were spoken to the throng by a friend, who is a heavy depositor, and the bank was closed again for the night. The cause of this panic was a prevalence of rumors concerning the condition of the bank. Twenty minutes before the occurrence of the scene we have described a despatch from Hamiiton was received by a firm in this city in these words:-"Take no checks on the First National Bank. It has failed." Instantly this starting news appeared to blend with the atmosphere, for every man and woman knew it, and repeated it one to another. Lawyers' offices were besieged to prepare attachments, and the Sheriff's deputies rushed to and fro with unwonted alacrity. These officers were kept busy long after midnight, and attachments for upwards of $60,000 were served on the cashier of the bank. The bank and us effects passed quietly into the custody of the Sheriff. In the meantime a run on the bank in the morning by the small depositors seemed to be organized. A8 early as eight o'clock this morning knots of men stood talking on Main street. They appeared to be unconscious that the Sheriff was in possession 01 the bank. and expected that its doors would be opened as usual, and all demands paid. At nine o'clock, the hour of opening. a large crowd of men was collected at the doors of the bank. They grew impatient and at last demanded admittance for the purpose of receiving the amount of their deposits. The door was opened by Deputy Sheriff Taber, who informed the crowd that the bank could transact no business then, as he had taken possession of all its effects by the mandate of the court. In spite of this expianation. many persisted in demanding their money, alleging that they had earned it by nard and dangeroue work, were poor and must have it. Although these depositors were excited they manifested no disposition to attempt violence. Colonel Buel, who had just arrived from San Francisco, addressed a fewawords to the men, advising them to be patient and expressing his entire confidence in the ability of the First National Bank to pay every dollar que to its depositors. This declaration seemed to reassure the crowd in some degree, for it soon Broke into small knots of men, who stood in the street and at the corners talking of the alfairs of the bank until noon. We have heard that this nitch in the business of the First National Bank was produced by the conduet of the agency at Hamilton, White Pine. The drafts of this agency had dramed the agency in San Francisco, and both of these concerns have been closed. We have learned no particulars of the nature of the trouble in the agency at White Pine. The affairs of the parent bank in this city are pronounced by well-informed parties to be in a sound condition; but now it may be affected by the transactions of its agencies remains to be seen. The capital or the bank is $250,000, and it has a reserve fund, arising from profits in cases of its quarterly dividends, of $68,000. Its deposits are general and amount to $120,000. The account of the bank in certificate de. posits, which is included in the above sum, does not exceed $40,000. or this sum perhaps not more than $13,000 or $18,000 would be demanded by the holders of certificates of deposits If the bank were free to transact business. There are several heavy depositors in the bank among the business men of this city, none of whom has sought to draw his funds. They express the fullest confidence in the stability of the bank. and of its ability to speedily adjust the affairs of its agencies. Nearly all the attachments were sued out by parties living outside of Austin, and grew out of their relation with the agency at Hamilton.
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Items of Interest. A dispatch from New York says there were lively times in the Gold Room last Saturday Mr. Jordan, of the Gold Exchange Bank, made a speech, saying that the bank had lost $250,000 in order to go on. and that if the Board had not advanced $4,000,000 to the street during the panic, all the brokers would have been ruined. 'He said the bank was solvent. At a subsequent meeting of the crediitors of the bank, the feeling was unanimous in favor of giving Jordan A fair chance, and it was agreed to take no legal steps against the bank for ten days. THE following notice was found posted on a huge-sized trunk at a railroad depot a few days ago: "Baggage smashers are requested to handle this trunk with care, as it contains nitro-glycerine, Greek fire, gun cotton, and two live gorrillas." AN exchange inquires: "How can we increase our producing and consuming population?" Another exchange answers the query as follows: "By persuading the unnarried to get married. settle down and do their duty. E. A. DAVIS, United States Surveyor General for Nevada, will take charge. as assignee, of the effects of the First National Bank at Austin THE Worrell sisters are astonishing the world at St. Louis, THE merchants' clerks in Paris are on a general strike. Two more Cuban privateers left New York last week.
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Matters in Austia, Nevada. The Reveille of October 14th has the sub joined Austin is just now hard beset by troubles. They have come "not singly, as spies. but in battalions. The city had recovered from the drain of White Pine and the changes caused by the railroad : she had aroused from her letbargy, unfolded her hands and looked fate squarely in the face. And she found as individuals have often done. that a brave spirit was an over-match for fate. She stopped her ery for help. put her own shoulder to the wheel and began to move forward and upward once more. Last week-on the very day that the National Bank closed its doors in the face of hundreds who had given it their confidence and their cash at the same timeaffaire looked more encouraging than they had done for many months. There were no idlers: every one was at work and the mines were rewarding the laborers better than ever. The merchants were replenishing their stocks of goods in anticipation of a steady trade during the Winter. In fact, the feeling of confidence was general, and apparently well founded. The suspension or failure, or whatever it may prove to be. of the National Bank, was a very severe blow in the face: it was a stunner. But the community rallied after some sponging and cuddling, and came to "time" once more. but with its spirits a little dashed. Probable losses were discussed-when they are known their bulk will be found upon the shoulders of the poor man. which makes the "Blessed in the Scriptures a seeming mockery-and there was a general disposition to make the best of a bad bargain. There was work to be done and prompt pay to be had, and that was enough. Losses might be made up in time. In one week from the closing of J. W. Harker's First National Bank of Nevada, the property of the Lane and Fuller Company was sold conditionally to an English company and its mine and mill were closed. Bv this act more than a hundred men were thrown out of the employment. A day later. vesterday. II. Augustus Tavlor, President," telegraphed from New York to the agent of in this city: until taxes the continue Manhattan operations Company and labor Dis- be reduced. Accordingly the extensive works of the Manhattan Company are closed. and 150 men are deprived of work. These three shocks occurred within a week. The first two are understood. but the full significance of and severest is not apparent. II. Augustus Tavlor Doubtless, the last knows. and and by he will probably show his hand by It may mean simply a reduction of the wages of miners to $3.50 or $3 per day; or it mav mean stringent coercion. n long period of idleness, and the introduction finally of labor into the deserted camp. We how the miners cannot Chinese say will receive will the net first proposition, but we believe they sensibly. We have no sympathy with the movement that would seek to replace the present miners of the country by Chinese laborers. It is narrow. selfish, sordid ; a grasping after larger profits. As to the reduction of taxes (d-n taxes! they arealways a bore to the class that is best able to pay them), II. Augustus Taylor will find it slow business. They may not "dewn" at his bidding. Taxes in this State are high; that on the proceeds of mines-the bullion tax-is felt to be onerous. The people have prayed. retitioned and cursed about them ; but the Collector never fails to appear to demand them. And the worst of it is we cannot "stop operations" until they are id duced. It will be well, perhaps, if II. Augustus Taylor's company can.
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FROM AUSTIN. AUSTIN, Nev., October 23.-It appeared by the evidence of Assistant Cashier Fox, on his late examination, that only $15,000 were in the vault of the First National Bank when the run took place, and that there had not been more than $15,000 or $18,000 on hand at any one time for the last two months. John Hensley was severely, but not dangerously, injured by a blast at Mineral Hill, a few days ago.
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THE NEVADA BANK PANIC Additional Paritculars-Stspension 01 the First National Bank at AdsUD-ILIOLSE Excitement. From the Reese Ricer (Net.) Becrille, Oct. 7. T o'clock last evening Main street in front of the National Bank, was the scene of an extraordicary excitement. Men gathered there rapioly from all directions, and soon there was dense and esctted crowd in the street. delcitement *pread to Lander Hill and reacted the lowest depths of the miler, and miners, with grea" drops of aw upon their planched races, stopes and drinks and came to the surface and walted or rau burneuly to the bank. The excitement of these men was intense, for ramor led them to fear that their bard earned deposit were in danper. The babk was opened, the men rus ed 1D, and scores of trembling hands presented certificales of deposit as the counter. The sum or $5,000 or $10,000 was paid out by the Assistant Casaler: a few words of assurance were spoten to the throng by a friend, who is a heavy depositor, and the bank was c osed awain for the night The cause or this panic was a prevalence of run ors COLCELLING the condition of the bank. Twelty nipties before the occurrence of the sceze we have discribed, a despaten from Hamiltoo >as received by a Dra in this city 10 these words: "Tate Lu check+ on the First National Bank. It has talled. Instantly this starthing Dews appeared to blend with tue afinorphere. for every man and WOCKD snew 11, ADD repeated It one to autother. Lawrers' offices were besteged to prepare attachments, and the Sheriff's deportes rushed to and Iro with comon'ed alacrity. Taewa officers were kept busy long after and attachments for upwards of $60,009 were versed on the Cashier of the bank. The bank and 129 effects passed quietly 1010 the custody of the Sherm In the a run on the DADE in the morning DT the small depositors seemed to be organized At early as So'clock this knote of men blood taking on Math street They appeared to lie that the Sperifi was in posses-ion 01 the babb, underpected that 11%-doors would be opened as usual, and all demands paid. AS 3 o'clock, the hour of opening, large crowil of men ASS collected at the door of the pank. Ther grew o impatient, at last den anded suimittance for the purpose of receiving the amount of their deposits. The door was opened by Deputy Sherid Tater, who informed the crowd that the bank could le transac no business then, as be had taken pos8 session of all ILE effects by the mandate or the 11 Court. In spite of this explanation, many perstated to demanding their money, alleging that they bad earned It by hard and dargerous work, or were poor, and must have It Although these depositors were excired they manifested no disposition to attempt violence. Colonel Buel, who had just arrived from San Pracisco, addressed a few words to the men. advising them 10 be patient, and expression his entire conndence ID the ability of the First National Bank to pay every dollar que to its depositors. This declaration seemed to reasore the crowd in some degree, for It ROOD broke into small by knots of men, who stood in the Birees and at the st. orders, talking of the affairs of the bank until LOON, les We have heard that this hich in the business be of the First National Bank was prodaced by the codd et of the agency at flamilton, Write Proe. he The draits of this agency had drained the agency ID San Francisco, and both 01 these concerns have been closed. We have learned no partienlars of the cause of the trouble in the acency at White Pine. The affairs of the parent back in this city are pronounced by we'l-injoined parties to be in a sound :cobdition: but how It may be affected by ca the transactions of Its agencies remaine to be to seen. The capital of the bank la $250,000, and it bas a reserve fund. arising from profit in cases of " quariety disidends of It. deposits in are general, and amount 3 $120,600 The account nd of the back, In cerpicate deposits, which is 10pie cluded in the above aud. does not exceed $40,000. An or this sum perhaps not more than $15,000 or ug $15,000 would Le decanded by the holders of cerplicates of deposit If the bank were free to ya, transact business Dg em There are several heavy depositors in the bank Ms an ODR the LO-11 est men of this city, DODEOI whom its hate cought to draw their funds. They express the tuliest confidence in the statility of the back, and in its ability to speedity adjust the adairs of us magendes Nearly all the attachments were aued 22out by parties living outside of Austin, and grew as out of their relation with the agency at Ilamiton. in In
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FROM AUSTIN. AUSTIN, Janury 18.-In the District Court, to-day. E. S. Davis, Receiver of the First National Bank, by his attorney made application to compromise bad debts and sell personal property. Wells, Fargo & Co. received from Belmont, last night, eight bars of bullion, valued at about $4,000, for shipment to San Francisco. The weather is cloudy and mild ; has been snowing all day.
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PRESENT YOUR CLAIMS.-A telegram from Austin, of the 15th, says: "All persons holding claims against the First National Bank at Austin, or its agency at San Francisco, are requested by E. S. Davis, Receiver, to present the same to him, at this place, without delay."
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BANK NOTICE.-In Nevada a notice has been published requesting all persons holding claims against the First National Bank at Aus. tin, or its Agency at San Francisco, to present the same to E. S. Davis, Receiver, without de lay, and those holding claims against the White Pine Agencies of the same institution to present them to W. S. McCormick, Deputy Re. ceiver at Hamilton.
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HOW IT was DONE It will be remembered that a few years ago the First National of Novada, located at Austin, suspended payment; in short, 'busted.'' Gen.E. S. Davis was appointed receiver, and in the Revcille advertises a long list of overdrawn accounts, promissory notes, etc.,-held by the Bank at time of failure, and included in its list of namete-for sale at auction. The Reveille, in adverting to the advertisement, has the following under the head of "pleasant reading:" The advertising columns of the Reveille offer some nice lightreading to those of our readers who pinned their faith and coin to the First National Bank of Nevada, and sold their claims at a large discount. If nothing more, its perusal will afford them an opportanity of neeing the way traveled by their bright and shining twenty-dollar pieces. In the list of bad and doubtful debts due the First National Bank of Nevada, which is published in our advertising columns, appears many familiar names, some of them of citizens of wealth and standing -such a name as James A. Shotwell, for instance. Shotwell was a noted thief and convicted forger, and yet this bank gave him thousands of dollars. The Bank officials may have considered it a loan; but in reality it was a gift; for Shotwell had no means of paying it back, even had he been so disposed. The Bank also seems to have been very accommodating to Harker, the President, and the entire Harker family, the names of several of whom appear in the list. To any person acquainted with the names included in the list, it is evidence enough that the affairs of the Bank were, to put it mildly, shamefully mismanaged; and it will be calculated to make people, who lost nearly their all, feel extremely happy to see that their hard-earned dollars were dealt out with a lavish hand to irrespensible and impecunious individuals, and forgers and thieves. w
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SOME years ago the first, last and only National Bank of Nevada commenced operations in Austin. It issued bills, loaned money and received deposits, and did a lively business for a while; but in 1870 it collapsed and left depositors lamenting. Some men who had deposited their all in the bank were financially ruined. while others, who had overdrawn their accounts and borowed money of the institution, were gainers by its failure. The bank was adjudged bankrupt, and a receiver appointed to settle its affairs. One or two small dividends have since been declared and paid to the creditors of the institution, and the receiver now advertises a long list of promissory and overdrawn accounts for sale to the highest bidder. Many familiar names are in the list, some of them yet residents of Nevada. James A. Shotwell, the White Pine forger, is down for over $22,000, and undoubtedly the notes of that noted individual for the whole amount can be purchased for two bits, and except as curiosities they would be dear at that price.
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THE AUSTIN NATIONAL BANK.- - We find the following compliment paid to our old friend .. Red Precip." and accompanying encouraging statement of the affairs of the defunct First National Bank of Nevada (at Austin), in the Reveille of November 13: General E.S. Davis, Surveyor General of Nevada, who has been in town during the greater part of the week, settling up the affairs of the defunct First National Bank of Nevada, of which he is Receiver in Bankruptcy, left on last evening's Battle Mountain stage, en route for Salt Lake City. Under the management of General Davis the affairs of the National Bank have panned out well; a large proportion of the indebtedness was compromised, and on the balance dividends amounting to eighty cents on the dollar have been paid. There will probably be another dividend of ten cents, which will make ninety cents that have been paid. and when that is settled. all pertaining to the First National Bank of Nevada will be a thing of the past, and it will never be thought of again except by some poor devil whose twenty dollar pieces were loaned out to forgers and convicts by the men whom he had intrusted them for safe keeping. Vale : good bye ! and may we never look upon its like again.
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THAT DIVIDEND. A Bit of Local History-Have You Any Stock ? Wednesday the SENTINEL published the following dispatch: WASHINGTON, April 29.-The Controller of Currency has declared a dividend in favor of the creditors of the First National Bank of Nevada, at Austin, Nev., of 25 2-15 per cent, making in all $92,515. The Reveille throws light on the otherwise dark telegram by means of the following reminiscence: Old time Austin people will remember the First National Bank of Nevada, which failed in Austin in the Spring of 1869. At the time it collapsed, J. W. Harker, now of San Francisco, was President, and C.F. Horne, now of Eureka, was Cashier. The main bank was in Austin, and there were branches at Treasure Hill, Hamilton and San Francisco. One day the whole concern collapsed. Gen. E. S. Davis, now of Oakland, was appointed Receiver, and he appointed G. S. McCornick as deputy at Treasure Hill and Hamilton. They proceeded to settle up the affairs of the bank. For a long time its scrip was to be had for 12½ cents on the dollar, but finally it rose to 25 cents. Something like 90 per cent has been paid to the creditors, and the general opinion was that the last payment had been made. If you happen to have any of the bank paper here is a chance to realize on it.
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A Broken Bank Dividend. Persons happening to hold paper on the First National Bank, which failed in Austin, will be interested in the following: WASHINGTON, April 29.-The Controller of Currency has declared a dividend in favor of the creditors of the First National Bank of Nevada, at Austin Nevada, of 25 and 2-15 per cent., making in all $92,515, At the time the bank collapsed J. W. Harker,now of San Francisco, was President, and C. F. Horne, now of Eureka, was Cashier. The main bank was in Austin and there were branches at Treasure Hill, Hamilton and San Francisco. One day the whole concern collapsed. Gen E. S. Davis, now of Oakland, was appointed Receiver and he appointed G. S. McCornick as deputy at Treasure Hill and Hamilton. They proceeded to settle up the affairs of the b ank. For a long time its scrip was to be had for 12½ cents on the dollar, but finally it rose to 25 cents. Something like 90 per cent, had been paid to the creditors and the general opinion was that the last payment had been made.