Show will likely have A new bank so far tills this week the news is unable to give its readers very much definite information regard ing tho the banking situation in the county seat of garfield county since tho closing of othe the state bank of garfield wo we have aicard many rumors from all sides but unfortunately tuna tely most of these rumors are without foundation and only harmful to the situation tho the public may rest assured that all information and necessary facts will como come to them in the proper way at the proper time in the meantime mc antini 1 e every thing possible is being done for the protection of depositors for whose interest and protection tho the bank was taken over by the state bank commissioner during the week weak past seth state bank commissioner and R B motherwell manager of the ille salt lake branch of the federal ads reserve erve bank spent two days in panguitch in going over the af affairs fairs of the bank trying to determine if a reorganization of the old institution was possible but commissioner mis stated that awing owing to th the condition da of the paper just at this time of the year and very little sale for live stock that it was decided a reorganization was I 1 not practical I 1 A meeting of bf a few 0 of f the leading citizens was held saturday and it it was decided that tha in view of the situation an entirely new institution should be formed at once and a committee was appointed to handle the matter some of our substantial men have pledged themselves to see the thing through and we have full confidence that within a short time panguitch will have a bank bani in operation the thing naw now is for I 1 every loyal citizen of the section to get in and boost A bank is the life blood of our commercial community and that business sent away builds up p other places and icara tears us down we cant afford to do it get in and boost and make an organization that every peyson person in this district will be proud of and willing to support dont pay any attention to the fellow with his calamity howl whose banking business in the past has been notes not deposits the real fellow though he may have money tied up is saying little as he is interested in getting things to going again and relieve the situation |