Rhyolite is a ghost town with much character. With a population of over 10,000 at one time, Rhyolite was no small town. The town was founded in 1904 and by 1907 even had electricity. There is one building still standing today in Rhyolite that was made from 10,000 beer bottles of which there was no shortage in Rhyolite. Another building, the bank building, was 3 stories tall and cost $90,000 to build. Ruins of its wall still stand today. The financial panic of 1907 took its toll on the town and businesses started to shut down. Then, the mines started to play out and by 1916 the power and light company had shut down and the people had moved on.