Salt Lake Herald-Republican | 1918-08-25 | Page 42 | New Bank to be Ready Soon

NEW BANK TO TOBE TOBE BE READY SOON Court to Be Asked l to Turn TurnOver TurnOver TurnOver Over Assets of Merchants Mer chants Announcement that they thoy had secured enough nough acceptances to the reorganization ion tion plan to justify the stockholders in carrying it to a conclusion lon was wa made madey by y the tho depositors depositors' committee at a Joint meeting of depositors and stockholders ot of f the Merchants bank hank held yesterday esterday In n the office of O. O P. P Soule vice Ice president dent of ot the bank A committee consisting of Mr or Soule representing tho the bank C C. P. P Overfield O representing the stockholders and Thomas homas Homer representing representing- the do- do was appointed to appear before be- be toro fore oro tho the district court and ask that the receiver b by zd to ret retain ln the present banking room for tor another month In n order that the ton lon plan pl ma may be worked forked out there thore It Is la understood that the announcement announcement announce announce- ment meat that the reorganization plan has been approved by a n sufficient number of ot the depo depositors means that the court will within the next few days Le ie asked to o Issue an order turning over most of ot the tho ho assets of ot the Merchants bank to the he bank which will be reorganized to o succeed that Institution I I