Bullfrog Nevada Bank
The names of President and VP of the Southern Nevada Bank appears here on the letterhead as Oscar Smith & Bert Smith respectively. Bert Smith came West at an early age gaining mining investment experience in Colorado and Wyoming. The brothers experienced considerable success with their purchase of the Eureka County Bank in 1897 and the Smith brothers had founded the First National Bank of Elko in 1893. Other banking interests were acquired, the logical progression being to Rhyolite based on their former experience with Nevada mining camps. Bert Smith also founded the Bank of Manhattan where he was President in 1907. Oscar Smith complemented his brother's career in many ways however his rise in banking began very modestly progressing from lower ranks in a smelting operation to a position of chief assayer and ore buyer. I wonder how much high-grade Smith used to finance his banking interests?
This letter is from cashier Stickney to F P Thompson and talks about a "general depression" in 1907 affecting all mining stocks and also mentions collecting on lots in "Jumpertown" to pay for the annual claims work. Letter also says: "Your Bullfrog lots have practically no value at the present time, the town having practically all moved to Rhyolite. We move at the end of this week, when we become absorbed in the First National Bank of Rhyolite."
Panic of 1907!