Show aI BANK PLAN APPROVED Depositors Accept Project for Restoring Citizens Citizens' State Institution Instructions to accept tho the latest reorganization re reorganization re- re organization plan were given to the tho Citizens' Citizens State bank depositors committee com com- at a mass meeting held In Bingham last night b by d depositors of the tile defunct Institution The instruction instruction instruction tion set act forth that tho lie committee should meet at 11 a. a m. m today In conference con con- ference with D. D C C. C Dunbar receiver and notify him that the tho depositors ac accept accept accept ac- ac the latest rehabilitation proposal Meantime however It has eloped developed that the plan which the depo depositors ac accepted accepted nc- nc may not prove workable Mr 11 Dunbar said yesterday he has received Information to tho the effect that officers and directors of or the bank Lank may not beable beable be bo able to carry out their part of or the tho agreement The reorganization scheme called for tor torpa pa paying the depositors 60 cents on the tho dollar loliar in cash and giving them been 49 per cent of or th stock of tho the reorganized bank hanl tho the remaining remaining- 51 1 per cent to bo be taken over o b by the Utah State National bank banle Un Under er this plan the officers and directors ot or the defunct bank were re required re- re to raise a considerable sum of or money Mr 11 Dunbar said ho was In Informed informed In- In formed yesterday that they mo may be unable to carry out their part of ot the tho agreement Should the tho reorganization plan fall fail Mr Dunbar said ho probably probably abl ably will have havo to liquidate the Iho bank a L solution which h he says sas would mean paying the depositors not to exceed exceed ex ex- 50 tiO cents on the dollar |