Two Strong Banking Houses, Nevada
The Nixon National Bank of Reno was
organized October 20, 1906, with a capital of $500,000, and a
paid-in surplus of $50,000, with the following officers: Geo. S.
Nixon, president; Geo. F. Turrittin, vice-president; F. M. Lee,
cashier; R. C. Turrittin, assistant cashier.
It opened its doors for business
November 12, 1906, and did a thriving business, receiving
deposits approximating $1,000,000 by the end of the first half
year.
At a stockholders' meeting held May
7, 1907, it was arranged to purchase the assets of the Bank of
Nevada, one of the pioneer banks in Reno, and the State, having
a paid in capital of $600,000. The consolidation was consummated
on May 20 of the same year, and the banking business has from
that time been transacted in the building formerly owned and
occupied by the Bank of Nevada. To facilitate the consolidation,
the Nixon National Bank increased its capital to $1,000,000, and
the Bank of Nevada Savings & Trust Company was organized with
the same ownership, and with a capital of $100,000, fully paid.
The business of both banks is carried on in the same office and
under the same management.
In response to calls from the
Comptroller of the Currency and the State Bank Examiner, the
following statements, showing condition at the close of business
on April 28th, were furnished:
The Nixon National Bank -
Resources Liabilities
Bank of Nevada Savings &
Trust - Resources
To the heavy capitalization of these
banks and to the reputations of the officers and directors, as
conservative business men and strong financial factors, must be
attributed their popularity with the banking public during the
stringent financial times just past. Their large deposits
bespeak the confidence which they enjoy from the people of their
territory, and that this confidence is appreciated is evidenced
by the magnitude of their loan accounts, which show that they
have been meeting the requirements of their clientele.
Index
Source: Sketches of the Inter-Mountain
States, Utah, Idaho and Nevada, Published by The Salt Lake
Tribune, Salt Lake City, Utah, 1909
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