Show NEW BANK IS NOW BEINe BEING ORGANIZED Bank of Duchesne Forced to date No Prospects Prospect of Reopen Reopen- Reopening ing Old Olet Bank Up to the present time there ther has bas been no one considering the ta taking ing over of the Bank of Duchesne state state bantling banking Jw department has taken charge c o of the bank and have appointed appointed appointed ap ap- pointed E. E C. C Robbins to manage the process of liquidation Under the new state law no receiver is ap appointed appointed appointed pointed and the affairs of off the bank banka a are e entirely in the hands an s of the state banking The new law seems tto to he be a a- avast vast improvement over the old system and the all absorbing absorbing absorbing ab ab- ab- ab expense o 0 rs and attorneys attorneys attorneys at at- is eliminated affording t the e depositors a much better chance of getting t their money oney returned Joe Barb glio president Of tf the Helper State Bank was in town the latter part of last week and met with the business men of the town He proposed the organization of a new bank and his met with the hearty arty support of tho the business men Mr agreed tb to take in stock in fn the new bank if were raised in the county Committees were appointed and imme immediately immediately im im- im- im me mediately started with a subscription tion ion list Wednesday night the list included seventy names and totaled the he necessary amount An effort was vas made to have as large a number of f stockholders as poss possible ble and although although al- al though hough the full amount has been subscribed others will be asked to take ake stock as the subscribers in inome ome some caes have agreed to take from one ne to ten shares as may may- maybe may be necessary sary ary If possible the willbe will willbe willo be o scattered among one hundred stockholders with one share apiece Aside from front from the above activities no steps have been taken toward oward the organization of the new bank but bank ank but the but the the- j response to theall the the- call all for subscribers assures the early early eary ear- ear ly y opening of a a. new institution tion still of men meri There are rumors men with sufficient capital taking over over the he old bank but for the most part this his idea has been given up and and- so soar far ar no offers have have- been made to th the officials of the bank A g of the Bank of Duchesne would of course be t the e only means of gi giving ng immediate relief to the hard situation situation situa- situa tion ion which its closing forced upon I the he community A new bank however however how how- how I ever will undoubtedly go a long way toward oward making the speedy winding up of the affairs of the old bank possible there and appears no doubt that hat the new organization will ll be beI perfected in jn the near future |