Show R F C TO AID A I D DEPOSITORS IN IN- IN CLOSED BANKS More Th Than n Will WillBe WillBe WillBe Be Ma Made e. Available le leto to Ut hns TO THAW FROZEN ASSETS Immediate Payment of Dividends Dividends Dividends' Divi Divi- Possible More than may be poured into the pockets of oC depositors in closed banks in titan tah in Inthe the near fu Lu- future u. u ture hire through a new liberal l policy of or orthe the Reconstruction Finance corporation corporation corpora corpora- tion State Bank Commissioner r John A. A Malia Malla revealed Tu Tuesday da The R. R F. F C C. the bank commissioner commission commission- er explained explained- plans to take over the assets of the closed banks and submit loans to the state banking department as liquidating gent agent for forthe the closed Institutions in This process he pointed out would permit immediate payment of dividends dividends divi divi- to depositors whereas years yeas might be required to thaw frozen assets in the ordinary course of pro pro- Available A The revelation that more than 2 2 may be available soon for fors s such ch bank depositors was was m made de in connection with an n announcement from the commissioner commissioner- that he already already already al al- al- al ready has filed tiled applications with with the the R R. F. F C C. for Jn n liquidating loans for the benefit of depositors in fives five clos closed d banks l In lit the state Other are e ready to be filed he said which h would make snake I thousands us n dS of f Ut lin hO b k d deposits arc a arc e fr frozen i n ili in banks banks' wh whose e do doors rs s vcr ere closed the ill fortunes of de pr ion Commissioner M Malia announced he received word from rom Congressman inan J. J WIll Robinson Robinson- acting as the the state st state te banking banking- departments department's representative in Washington D D. C C. that because of the fact tact the theR R. R F. F FC C. C h has has' S adopted a a more liberal policy policy looking looking to the liquidation Of ot assets of ot closed I sed banks over overa a period of time there there- is every indication Utah will wUl get the full amount reque requested ted in its applications I Applications Application Approved With the idea of ot speeding the liquidation loans Comm Commissioner loner MaHa Ma Ma- Ha Ba said he already has submitted applications applications applications' applications applications' ap ap- ap- ap totaling which have been approved by various district dis dis- courts throughout the state These include th the M Jit ML Pleasant Continued on Pine Pare Three CLOSED BANKS TO GET U S 8 AID R F C Will Provide Provid More Than to Pay S Utah Depositors Depositor Continued from P Pate Page e One i I Commercial and Savings bank bank of Mt Ml Pleasant Pheasant North Sanpete bank at Mt Jolt Pleasant Bank of American Fork American Fork State Bank of Beaver Courty Cowl Court ty y Beav Beaver t Iron County bank Par Parowan wan Applications for relief of depositors depositors tors of the Jordan Valley bank and the MIdvale State bank are ready to 10 tobe be ae submitted to the district court for approval he ne said Agents of the Reconstruction Fi Pt- Finance Finance nance nance corporation are in the field in Mt Ml Pleasant inspecting condition of ot banks there and will move to American Amerlean Amer Amer- ican lean Fork to continue work there late ate this week Orden Bank Inspected The R. R F. F C. C also has an inspector at Ogden Commissioner Malia J said ald inspecting assets of the closed Ogden State bank Applications also are lining ng prepared pre pr pared looking to the relief relic of depositors tors bra in the Sugar Banking company Salt Lake City Gr Grantsville Deseret bank pank of Grantsville Tremonton Banking Banking Bank Bank- ing company Tremonton Pr Provo vo Commercial Com Corn mercial and Savings bank Provo Bank of Heber City Heber Because of litigation in connection with the affairs of the Millard County b bank at Fillmore and the Tooele County bank at Tooele appl applications for rel relief ef of depositors in those institutions institutions institutions institutions' in in- have been delayed the explained but are expected expected ex ex- to be r ready ady soon |