| Show bank bani to liquidate prospects look bright for early payment to depositors of the state bank of garfield upon his return to panguitch Pan gultch after consulting with mr soth seth paxton state bank commissioner D na M todd gives elves us the information that matters are under way for an early 13 settlement with the depositors of the 0 old id bank ot of garfield from present indications it would appear that they will receive a dividend of 45 per cent some time this month it everything works out will well and the remaining work ot of liquidation can be co completed this means that the alie money will bo be available before taxes are duo due this year which la Is the hope of the banking department with the dividend to be paid out in the immediate future the total amount depositors po will receive will equal 80 per cent of 0 their original claims this amount compares well with the liquidation of other banks inthe in the intermountain inter later mountain country that have gone gone through liquid liquidation kion since the depression in 1920 vor for the information of depositors the following comparisons pari parl sons are given for banks haul dated in the state of oc utah during the period mentioned state bank ot of kone hane suspended august 1921 per cent state bank of garfield suspended july 1023 per cent paid 80 peoples bank of 0 lehi suspended may 1921 per cent paid 70 state bank of 0 pluto piuta suspended july 1921 per cent paid 30 state bank of 0 moab suspended january 1922 per cent paid 20 state bank ot of myton suspended july 1922 per cent paid 20 bank of duschene suspended march 1921 percent paid 0 payson exchange savings bank suspended december 1923 per cent paid 0 A great many factors have entered into the success of handling tile the receivership of 0 the state bank ot of garfield which have speeded up uie oie work of liquidation chief among which was the manner in which stock holders wid and officers assumed heavy assessments and paid in money which went to the benefit ot of depositors the altitude and cooperation of all persona concerned with the Ins institution either as creditors or debtors on the whole lias has been very straightening P g out such a complicated affair full raull appreciation for these things la Is expressed by the officers of the banking department upon whom this work has baa fallen in the adjustment of the tha affairs of the old bank and the establishment ot of a now new and sound institution the future prospects and financial out loox look lor this district takes on a healthful and encouraging aspect it business conditions can continue to be carried along present lines a great future of prosperity may confidently be expected |
