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Show Defunct Payson Bank Tor Pay Small Dividend Soon f principal, to .say nothing of the in- torwit. - . ;, j-Oile' ?.:tli LjjKo b8 rtk" h'ri',1 lfatni-4 '.( i :M7,miO m S'JU.OOO m-curiiy, but lost SU.OOO and the interest. This left $21)6,000 worth of the ' poorer assets to meet $300,000 worth of depositors' claims. Of the S2(iC,000 about $100,000 has been washed off the books by bankruptcy bank-ruptcy proceedings. According to Mr. Street he re-! re-! Reived $10,000 s.lar from the' bank .and hat the attorneys J-eoeivcd lees totaling $5,000. The attorneys were : I paid $50 a day while in court and j J $2.rj a day when doing office work, j : The stockholders' liability of $50,- ' 000 is about 25 pet cent collected. Mr. Street has received no pay for the past two years and for three years previously he had received $50 and $75 a month, he said. The condition of the Payson Exchange Ex-change Savings bank at the time the state took charge is about as follows, Air, Stieet says: Assets, $583,000; liabilities, $4K0,-000. $4K0,-000. The liabilities include $180,000 borrowed from other banks, which were secured by $317,000 worth of the assets. When the institutions liquidated this $317,000 it proved insufficient in-sufficient in some cases to pay the Payment of a dividend of probably prob-ably 5 per eent to the depositors of the defunct Payson Kxchanpe Savings Sav-ings bank, will in all probability be followed by the permanent closing of the affairs of the institution, according ac-cording to K. H. SI reet, examiner in charge. No dividend has been paid since I he bank was taken over by the slate in 1923. because its best assets as-sets were pledged to pay borrowed money and because the rest were practically worthless, said Mr. Street, Thursday. Grand jury indicthients were re turned against J. C. . l-:tlsworth, cashier of the bank, for misuse of lunds but he was acquitted. Them is on hand at the present time $11,000 in cash and about $150,-000 $150,-000 wuith of assets which the state has been unable to turn at even a fraction of the paper value. Mr. Street took charge of the banlf when it was closed at a salary sal-ary of $300 per month which included in-cluded payment for the Moab bank receivership. George P. Parker, now attorney-general and J. W. Robinson of Provo were the attorneys, at-torneys, i , |