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Show North Sanpete Bank Pays 2nd Dividend Chrcks totaling $24,067.89 were mailed today by tho State Banking Department to the creditors of the North Sanpete Bank. The above money represents the proceeds from collections and is not borrowed money. The above . announcement was made by R. F. Starley, Assistant Examiner in Charge of the North Sanpete Bank. Mr. Starley further states that the Bank Cornrnis'ioner is continuing continu-ing h!s work in connection with the applications fer loans from the Reconstruction Re-construction Finance Corporation to the two Mt. Pleasant Banks and it is expected that these loans will be closed in the near future. From the proceeds of the Recon-struct'on Recon-struct'on Finance Corporation loan th North Sanpete Bamk depositors will receive approximately 40 per cent in addition to what has been pa'd. Mr. Starlep further states that when the North Sanpete Bank closed in July 1931 they owed se-, se-, cured notes ta Salt Lake City Banks amounting to $48,000.00, and had p-eferred claims outstanding a-mounting a-mounting to $32,788.49. They had (j'T.eral creditors claims outstanding, outstand-ing, amounting to $174,841 53, making mak-ing total creditors' cla'ins outstanding outstand-ing of $255,630.02. The prerent out-rtending out-rtending liability of the North Sanpete San-pete Bank creditors, totals $120,549-.77. $120,549-.77. This meaps that s;nce the Rank clesed creditors claims have bem paid amounting to $135,080.25. |