Salt Lake Telegram | 1936-08-01 | Page 3 | Provo Court Okehs Standby Agreement

Court Standby Agreement A A standby agreement tween four creditors of the Provo and Machine company to termine the distribution of an anS SF F P C loan being secured by the S was ratified in the district ourt ourt at Provo Friday by Judge Abe Turner The state banking department petitioned petitioned pe- pe tho the court to ratify the agreement in behalf of ot the closed rove Commercial and Savings lh bank ank in order that a compromise i settlement of the company's obligations to the bank might be effect- effect ill id Under terms of the agreement e bank will receive 20 per cent of e S obligations and interest from the I n. n Judge Turner also approved a re- re rt of liquidation proceedings at ate e bank from February 1 to toMay toay tolay May lay ay 31 1