OCR Text |
Show Depositors' Committee Decides De-cides Upon Campaign for Reorganization. As result of a meeting yesterday of the depositors committee of the Merchants bank, the body will open headquarters in the bank today and will commence a systematic canvass of depositors to secure se-cure Ihcir signature to the agreement for reorganizing the Institution. At the meeting yesterday, which was called by Thomas Homer of the committee, commit-tee, it was announced that depositors representing aVout $700,000 of deposits had signed the agreement for reorganization, but that the signatures of depositors representing about SI ,200.000 wore needed to insure the success of the plan. The committee members present were informed that there were rumors afloat that there was a plan by interested pcr-poiis pcr-poiis to close out the claims against the bank at 80 ee-nts on the dollar a.nil to dispose dis-pose of the bank fixtures and non-lupud assets. The committee was urged to see that all depositors signed -the agreement for reorganization, so that this plan could not bo carried out, and t hat. every depositor de-positor might, through the operation of s new bank, le enabled to get dollar for dollar on his deposits finally. About twenty-five depositors present at Ihe meeting agreed to donate their services ser-vices as canvn.ssers to secure, the necessary neces-sary signatures to the reorganization agreement. That this work may be done systematically it was decided to open headquarters for the depositors' committee commit-tee in the bark and direct operations from that point. |