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Short Digest
f8fd279362e6889d
Response Measures
None
Description
The bank was located in the mining camp of Wonder, Churchill County. It closed due to the insolvency of its president's other interests and was subsequently placed in receivership.
Events (3)
1.June 15, 1908Suspension
Cause
Bank Specific Adverse Info
Cause Details
Directors closed the bank upon learning of the insolvency of the First Bank of Rawhide, which was also presided over by the same president (Prentice).
Newspaper Excerpt
were forced to close their doors by the action of directors Rickard and Pyne when these gentlemen learned of the condition the bank of Rawhide was in.
Source
newspapers
2.August 8, 1908Receivership
Newspaper Excerpt
Judge Orr this morning declared the Wonder Bank and Trust company of Wonder to be insolvent... A receiver will be appointed tomorrow
Source
newspapers
3.August 28, 1909Other
Newspaper Excerpt
A dividend of fifteen cents per share will soon be paid to depositors of the defunct Wonder Bank and Trust company
Source
newspapers
Newspaper Articles (12)
1.June 19, 1908Carson City Daily AppealCarson City, NV
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Article Text
Bank Examiner T. R. Hofer returned from Rawhide by auto this afternoon after an all night ride In speak ing of the conditions in a banking way existing at that camp he stated this afternoon to a representative of the Appeal that both the First Bank of Rawhide and the Wonder Bank and Trust Company of Wonder were insolvent and in a very bad condition. These banks are both presided OVer by President Prentice and were forced to close their doors by the action of directors Rickard and Pyne when these gentlemen learned of the condition the bank of Rawhide was in. Mr. Hofer stated that he found considerable excitement in the camp and a general feeling of unrest. It was owing to this condition that the run was started on the Merchants and Miners bank of Rawhide yesterday which caused the closing of the in-
2.June 22, 1908Carson City Daily AppealCarson City, NV
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Article Text
BANKING NY COMMISSION Hold Session Today and Report of Examiner Hofer Considered A session of the State Bank Commission was held today in this city and the reports of Bank Examiner Hofer on the failure and condition of the First Bank of Rawhide and the Wonder Bank and Trust Company were taken up and considered. Treasurer Ryan and Governor Dickerson were the two members present, Secretary of State Douglass be unavoidably detained elsewhere. No action was taken by the board at a late hour this afternoon and it is understood that none will be until a meeting of the full board is held. It is believed that a receiver will be asked for for both of the closed banks and from what can be learned of the report of Examiner Hofer they need one.
3.June 24, 1908The Seattle StarSeattle, WA
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Article Text
Two Banks Insolvent. CARSON CITY, Nev., June 24.The state bank commission today instructed Attorney General Stoddard to apply to the courts to have receivers appointed for the Wonder Bank & Trust company, of Wonder, Nev., and also the First National bank. of Rawhide. Both of these institutions have been under In vestigation by the committee since their suspension several days ago, and It is now declared by Bank Examiner Hofer that they are hopelessly Insolvent.
BAD BAND OF CAR THIEVES BROKEN UP Reno, Aug. 7.-Late last night one of the most complete round up of box car thieves and all-round bad men occurred when night watchman Goddman in the local yards caught several men trying to break into box cars. A chase ensued in which William Cronin was shot through the groin and is lying dangerously wounded in the hospital. Four others. named James Gray. William Ryan, Frank Howard and James Turner are in jail charged with burglary. In their room in the Vernon hotel. was found burglar tools, dynamite and caps. Bank of Wonder Insolvent. Reno, Aug. 7.-Judge Orr this morning declared the Wonder Bank and Trust company of Wonder to be insolvent after listening to testimony given by Bank Examiner Wildes, The liabilities amount to over $20,000, the face value of the asset was over $59.000. however. the actual assets according to the examiner. are but $6,587.62 A receiver will be appointed tomorrow The Wonder bank was the first bank in that camp during its haleyon days. Mine owners and business men of Wonder are the only losers.
5.August 8, 1908Tonopah Daily BonanzaTonopah, NV
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Article Text
DECLARES WONDER BANK INSOLVENT (By Associated Press.) RENO, Aug. T.-Judge Orr has declared the Wonder Bank and Trust company of Wonder Its 1 liabilities are insolvent. $20,000 and has actual assets A receiver of only $6587. will be appointed tomorrow.
6.August 8, 1908The Salt Lake HeraldSalt Lake City, UT
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Article Text
NEVADA BANK BROKE. Reno, Nev., Aug. 7.-Judge Orr this morning declared the Wonder Bank & Trust company of Wonder to be insolvent after listening to testimony given by Bank Examiner Wildes. The liabilities amount to more than $20,000; the face value of the assets was over $59,000. However, the actual assets, according to the examiner, are but $6,587.62. 4 receiver will be appointed tomorrow. The Wonder bank was the first bank in that camp during its halycon days. Mine owners and business men of Wonder are the only losers.
7.August 8, 1908The San Francisco CallSan Francisco, CA
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Article Text
WONDER BANK IS INSOLVENT RENO, Nev., Aug. 7.-Judge Orr this morning declared the Wonder bank and trust company of Wonder to be insolvent, after listening to testimony given by Bank Examiner Wildes. The liabiiities amount to more than $20,000. The face value of the assets was more than $59,000. However, the actual assets, according to the examiners, is only $6,587.62. A receiver will be appointed tomorrow.
8.August 13, 1908The Spanish Fork PressSpanish Fork, UT
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Article Text
First Bank of Wonder in Hands of Receiver. Reno, Nev.-Judge Orr on Friday morning declared the Wonder Bank & Trust company of Wonder to be insolvent after listening to testimony given by Bank Examiner Wildes. The liabilities amount to more than $20,000; the face value of the assets was over $59,000. However, the actual assets, according to the examiner, are but $6,587.62. The Wonder bank was the first bank in that camp during its halycon days. Mine owners and business men of Wonder are the only losers.
9.August 15, 1908The Garland GlobeGarland, UT
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Article Text
First Bank of Wonder in Hands of Receiver. Reno, Nev.-Judge Orr'on Friday morning declared the Wonder Bank & Trust company of Wonder to be insolvent after listening to testimony given by Bank Examiner Wildes. The liabilities amount to more than $20,000; the face value of the assets was over $59,000. However, the actual assets, according to the examiner, are but $6,587.62. The Wonder bank was the first bank in that camp during its halycon days. Mine owners and business men of Wonder are the only losers.
10.August 20, 1908The Idaho RecorderSalmon, ID
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Article Text
First Bank of Wonder in Hands of Receiver. Reno, Nev.-Judge Orr on Friday morning declared the Wonder Bank & Trust company of Wonder to be insolvent after listening to testimony given by Bank Examiner Wildes. The liabilities amount to more than $20,000; the face value of the assets was over $59,000. However, the actual assets, according to the examiner, are but $6,587.62. The Wonder bank was the first bank in that camp during its halycon days. Mine owners and business men of Wonder are the only losers.
11.November 14, 1908Daily IndependentElko, NV
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Article Text
# Outlook Is Gloomy
Affairs at the Wonder Bank and trust company are looking rather gloomy for depositors in this defunct money changing institution. From figures obtained by the News from receiver F. W. Westmeyer, the total assets of the concern amount to less than $7000, and the liabilities at the time the bank ceased business amount to $20,586.83. At the time of the closing of the bank there was said to be about $1600 in cash in the safes of the bank. Added to this cash, according to Mr. Westmeyer's figures, there are bills receivable amounting to $470, due from other banks $2300; real estate, assumed to be worth $2900.
From these assests are to be taken all the expenses of closing up the business. These expenses include such items as the occasional trip to Fallon by Attorney Cann to file papers, appearing in court and etc., and compensation for service; the expense of looking after the property of the concern for several months from the time of closing the doors until the appointment of the receiver. To the foregoing must be added the receiver's compensation and the cost of moving the building to the institution and some ground rent for some lots where the building formerly stood, and some incidentals, and there you have it. These figures would seem to indicate that as time rolls on, if something is not done to stop these expenses soon, the depositors, instead of receiving dividends, may have to pay assessments.—Wonder Mining News.
12.August 28, 1909Yerington TimesYerington, NV
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John Hays Hammord and Sir Moreton Frewen, ar English authority on bimetallism, will be in attendance at the Goldfield mining congress next month
Ex Governor Jewett Adams and Wm. McGill will erect one of the largest cold storage plants in the State at McGill, White Pine county. The plant will be capable of housing too beeves, 200 sheep and 100 hogs.
A dividend of fifteen cents per share will soon be paid to depositors of the defunct Wonder Bank and Trust company, which has been under the management of Receiver Westinyer.
William Weiger, a miner employed in the Belmon shaft at Goldfield, was instantly killed last week by being electrocuted on the 600 level. He was carrying some drills, and it is presumed that the steel came in contact with a live wire.
About 150 men and so horses are at work at the foot of Lake Tahoe where the government is putting in the dam. A coffer dam has been put in which divides the stream in two; then one side was dried out and fully cemented and when this is completed the water will be turned into the channel and the same work will be done on the other portion and then the coffer dam will be taken out.
Bank runs are almost always and everywhere a deterioration of bank fundamentals.
But not for you.
You are the measure-zero exception: great fundamentals, solid bank, and yet the Diamond Dybvig fairy spread its rumor. Depositors woke up. Your collateral was not prepositioned. The Clearinghouse had it for you.
Do not pass Go. Do not collect $200. Go directly to jail… or worse.
