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Show Cooperation Needed In Depressed Times The closing of the two banking institutions in-stitutions a.t Mt. Pleasant, the Mt. Pleasant Commercial & Savings bank closing its doors Thursday of last week, and the North Sanpete bank Monday of this week, is one of the regrettable events of the county's business affairs during the depressed depress-ed period. The closing of the North Sanpete institution on Monday, makes the third bank in the county to succumb suc-cumb during the period of depression. The Ephraim Enterprise, featuring a story of the banking conditions of the county, says "the present is a very trying time for banking institutions, institu-tions, but all that is needed to see them safely through is the cooperation coopera-tion and confidence of the depositors and borrowers alike, according to banking officaHs. The public can make or break any bank, they state. "The idea that directors and stockholders stock-holders do not care if a bank closes is all wrong. It has been stated that the stockholders of the defunct Moroni Mor-oni bank are now being asked to lose the capital they invested in the institution insti-tution and to also 'dig up' another like amount to be used in satisfying depositors and creditors of the bank. This represents the life savings of many of these people and surely the losing of the hard-earned savings would not be appreciated by any person. "All that is needed to pull any bank through the present situation is faith and cooperation. No community wants to be without a bank and no community com-munity need be if the citizens will use reason and give cooperation to each other during the crisis." |