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Rhyolite Bank Fails. GOLDFIELD, Nev., March 21.-The First National bank of Rhyolite, Nev.. has suspended regular business pending liquidation proceedings that have been commenced. The deposits amount to $80,000 and the assets toal $9000 in cash and $122,000 in convertible securities and loans. Oscar J. Smith of Reno is president of the institution.
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RHYOLITE BANK FAILS. Goldfield, March 21.-The First National Bank of Rhyolite suspended business this morning pending liquidation. Its deposits are $80,000. Its assets total $9,000 in cash and $122,000 in convertible securities.
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NEVADA BANK SUSPENDS PENDING LIQUIDATION Goldfield. Nev., March 21.-The First National bank of Rhyolite Net., has suspended regular business pendIng liquidation proceedings that have been comenced. The deposits amount to $80,000 and the assets total $9.000 in cash and $122.000 in convertible securities and loans. Oscar J. Smith of Reno is president of the institution.
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BANK CLOSES DOORS First National of Rhyolite Suspends. Will Pay In Full GOLDFIELD. March 22. -The First National Bank of Rhyolite, Ne vada, has suspended regular business pending liquidation proceedings that have been commenced. The deposits amount to $80,000 and the assets to tal $9000 in cash and $122,000 in con vertible securities and loans. Oscar J. Smith of Reno. is president of the institution. RENO, March 22.-Asked concerning the foregoing dispatch Mr. Smith stated that this was the first news he had received concerning the bank's closing. Conditions at Rhyolite, he said, had been bad for some time, and consequentily the bank had gone into voluntary bankruptcy in order to close out an unprofitable business. He says the depositors will be paid off dollar for dollar. It is not at all likely that the other banking interests of the state will be in anywise affected.
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GOLDFIELD, Nev! - The First National bank of Rhyolite has suspended and liquidation has begun. The deposits-are $80,000.
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RHYOLITE BANK IS AMONG HAS-BEENS GOLDFIELD, Nev., March 21.-The First National bank of Ryolite suspended business this morning pending liquidation. Deposits amount to $80,000 and assets total $9,000 in cash and $122,000 in convertible securities.
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Rhvolite Bank Suspends. GOLDFIELD, Nev., March 21.-The First National bank of Rhyolite, Nev., has suspended regular business pendinΕ liquidation proceedings that have been commenced. "The deposits amount to $80,000 and the assets total $9,000 in cash and $122,000 in convertible securities and loans. Oscar J. Smith of Reno is president of the institution.
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BANK OF RHYOLITE TO GO INTO LIQUIDATION Financial Concern in Nevada Is Winding Up Its Business GOLDFIELD, Nev. March 21.-The First national bank of Rhyolite, Nev., has suspended regular business pending liquidation proceedings that have been commenced. The deposits amount to $80,000 and the assets total $9,000. in cash and $122,000 in convertible securities and loans. Oscar J. Smith of Reno is president of the institution.
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Goldfield, Nev., March 21-The First National bank of Rhyolite, Nevada, has suspended regular business pending liquidation proceedings that have been commenced. The deposits amounted to 880,000 and the assets total $9,000 in cash and $122,000 in convertible securities and loans,
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RHYOLITE BANK SUSPENDS. GOLDFIELD, March 22.-The First National Bank of Rhyolite suspended business this morning, pending liquidation. Deposits, $80,000; assets, total, $9,000 cash, $122,000 convertible securities.
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RHYOLITE BANK IS FORCED TO CLOSE DOORS By Associated Press. GOLDFIELD, Nev., March 21. The First National Bank of Rhyolite suspended today, pending liquidation. Its deposits are $80,000. The cash on hand was $9,000 and the securities totalled $122,000.
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WESTERN NEWS. Forty bodies of the Wellington ava. lanche victims have been identified. Forty-eight bodies have been taken from the Rock Island wreck in lowa. Rock Island officials will tour Colo rado to inspect their growing interests. Weston, the walker, has arrived at Topeka, ten days ahead of schedule. Prospects are good for the railroad differences to be settled by arbitration, The temperature at Rapid City, South Dakota, Monday, was eightyone degrees. San Francisco will hold a Panama celebration in 1915, having won the selection over San Diego. Tex Rickard has announced that the prices of seats for the Jeffries-Johnson fight, July 4th, will range from $5 to $50. Governor Haskell of Oklahoma has been forced by illness to take a rest. His action on forty-two bills is thereby postponed. Jack Cudahy was not tried at Kansas City for his attack upon Jere Lillis, no one having appeared to prosecute. Thomas F. Walsh and family have left San Antonio and gone to Washington. Mr. Walsh's condition is considered very serious. A nerve specialist who examined Thomas F. Walsh at San Antonio Texas, has expressed the belief that Mr. Walsh's condition is not serious. Judge Rice of Deadwood has issued an injunction against the union miners interfering with the employes of the Golden Reward Company by "either word, act or sign." High water in the Missouri river bottoms near Glencoe, North Dakota, will cause damages of $100,000. Fears are felt for three families in the inundated tract. A report from Washington says that it is altogether likely that the government will discontinue the Fort Lewis Indian school at the close of the present fiscal year. The First National Bank of Rhyolite, Nev., has suspended regular business pending liquidation proceedings. Deposits are $80,000 and assets total $9,000 in cash and $122,000 in convertible securities and loans. The maximum penalty of two years in the federal penitentiary at Leavenworth, Kas., and a fine of $10,000 was meted out to John C. Maybray and nine others by Judge McPherson in the Federal District Court at Council Bluffs, Monday.
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on the Pioneer at the camp of that name was arranged, the Eureka County bank would profit. Then the cattle selling season was coming on, when the big loan to the Eureka cattle company was to be liquidated. The Smith brothers owned very large herds of sheep and the wool e crop was also to go to reduce their d indebtedness to the bank. Altoe gether, the prospects were good for a very large reduction of the Smith e brothers obligations to the Eureka bank, if only sufficient time were given. The board kept in close touch with all these affairs and assisted the Smiths wherever possible. The Smiths surrendered 'to Eureka County bank 205 shares of stock of that institution and in time, paid a large amount from the sale of that stock, as had been arranged. The Pioneer lease, however, got into e legal tangles, its dividend, which e had been declared, was enjoined and the Smiths have to this time received nothing from their interest e therein. e Before other deals were consummated which the board had in hands, the national bank examiner closed the Smiths' First National bank at Rhyolite.. This threatened a run on their Eureka bank, and the banking board decided to close that institution at once Judge Peter Breen, in a grandstand play at Eureka, in receivership proceedings, censured the bankr ing board for not having acted d sooner, saying depositors should have been warned so that they would a have not made their deposits in the bank. This statement was entirely gratuitous and without knowledge of the facts. The bank examiner had testified that months before he had made a statement to the board showing its insolvency, but he was r not permitted to explain why the e board had delayed in closing the it bank, and Judge Breen took this k partial statement as a pretext for e lecturing the banking board. Results will disclose that the action of
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# Rhyolite Wants Bank John S. Cook & Co. of Goldfield have decided not to establish a bank at Rhyolite. The State Banking Board will not permit a banking house to maintain a branch or an agent and the Cook people do not feel justified in putting in a new corporation here. Receiver Thornton of the First National says that a bank at Rhyolite with a $25,000 capital can make money. -Rhyolite Herald.
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DEFUNCT BANK TO PAY 15 PER CENT The controller of the currency has ordered a dividend of 15 per cent to be paid to the creditors of the First National Bank of Rhyolite, Nevada. The dividend checks will be ready to be sent out by the receiver, Thomas M. Thornton, about the 20th day of September. 1910. Sale of the bank's furniture and fixtures was made this week to D. W Wilson of Los Angeles, for $500.-Rhyolite Herald.
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Stickney Buying Cattle. F. O. Stickney, of the firm of Strossnider & Stickney, Lyon county stockmen and ranchers, returned last evening from Paradise valley, where he had gone to purchase stock for his firm. Mr. Stickney was formerly in the banking business, having been at one time cashier of the Rhvolite National bank-Winnemucca Silver State. F. O. Stickney, of Yerington, was never connected with the Rhyolite bank. He was cashier of the Lyon County Bank which, instead of going ker-flewy, as did the Rhyolite bank. was one of the very few banks in the country which paid out cash on demand all through the panic.
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The sale of the remaining assets of the First National Bank of Rhyolite took place yesterday under the auspices of Receiver Clay Taliman, says the Rhyolite Herald. Among a few there was a spirited contest to purchase. Each one had his particular object in view. The assets carried a face value of nearly $140,000 The principal items of value were practically title to the patented mining claims of the Big Bell company, which adjoins the property of the Keane Wonder Min ing company, and a block of about 500,000 shares of stock of the Diamond Bullfrog Consolidated Mining company, the property of which is located on Ladd mountain at Rhyolite and is now producing through several sets of leasers. The other assets consisted of chiefly promissory notes and assessments on bank stock. Merrs. Rotta and Rheinhardt came from California to bid for purchase with speculative intent. J. E. Bevis was active in tryng to protect his and others interests in the Big Bell property. A representative of R. 11 Venton of the Nevada Ore Purchasing & Leasing company endeavored 10 secure the assets in order to obtain the block of Diamond Bullfrog stock. But the successful bidder was
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The remaining assets of the Rhyolite National Bank were sold Wednesday by Receiver Tallman. They consisted of mining stocks of a face value of $140,000,and sold for $2,800. In the dark of the moon it may be said that suffrage is a nuisance in Colorado. The other day a venerable farmer went forth to shoot some beavers and was confronted with a shotgun in the hands of a femnine game warden. Some women don't know when they have enough of a good thing, but will insist on poking their noses into the business of lawbreakers. -Goldfield Tribune. The state rested this forenoon in the Connolley case and the defense rested about 3 o'clock this afternoon. The court then took a re cess for 20 minutes, after which the case was argued and submitted to the jury. A verdict will probably be rendered this evening.
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EARLY DIVIDEND PROBABLE Eureka County Bank Adjusts and Settles Rhyolite Bank Claim and Other Matters Attorney T. J. McParlin returned last Saturday from a business trip to Rhyolite, Nevada, taken on behalf of the Receiver of the Eureka County Bank. As a result of his trip, there was filed in the District Court of Eureka County a petition by the receiver wherein it is asked that the Court approve of a stipulation providing for the settlement and compromise of all controversies between the Eureka County Bank and the first National Bank of Rhyolite. The Court approved of the settlement and compromise as for the best interests of the creditors of the Eureka County Bank. It is understood that among other matters the liability of the Eureka County Bank as a shareholder of the First National Bank of Rhyolite was adjusted to the satisfaction of the Receivers of both banks and the Court, and that thereby much expensive litigation has been avoided to the benefit of the depositors of both banks. Receiver Reynolds of the Eureka County Bank states that the settlement made has removed one of the great obstacles to the payment of the dividend which Judge Breen announced must be paid in the near future. It is stated authoritatively, as coming from Judge Breen, that after the pay. ment of this dividend the expenses of the receivership will be materially reduced. It is evident from this and the annonncement of the offer for sale of the bank building and equipment, as advertised in to-day's SENTINEL, that an effort is being made to close up speedily the affairs of the Eureka County Bank.