Show REORGANIZATION OF DEFUNCT BANK Wi Will Be Auxiliary of the Chicago Chicago Chicago Chi Chi- First National cago Bank FORGAN N NAMES MES OFFICIALS i Stensland Asset Will iVill 1 Re lIe Turned O cr to 10 New Officers When nu Business o oIs Is Resumed Chicago Aug 2 25 The The Tho reorganisation tion tun of the lie lIh Milwaukee Av Avenue ii e State bank bani as an auxiliary or branch of if ho tho First National bank Is soon to tobe tobe tobe be begun b un as nN the thc first move o mo In iii the rehabilitation ic- ic habilitation of or the lie defunct institution A An ii U understanding ing b between the business men of or the thc Milwaukee avenue ave ave- lve- lve nue lue district arid aral James B. B organ president of or tho lie First National banI bank has nas bc been n reached through which the lie ton of business bundles is I for flU The t new ICV Institution I t ii t Ii iii wil vI I I Shi hUrt iL with n. n capital of lC am and a 3 surplus of f OoOO Of this amount ivill wil bl be subscribed by s nC f nf J c Mt c t tc nW Tho 2 l U it T n V k h. h taken from Oln force of tho 10 National ban bunk bank Ie That I Is tho the main multi stipulation of or President Forsan For- For san gati an I I be he a u State Rank The new Institution will wil be a state batik bank n I. I An effort will wil bo he made to s-c- s sc ure cule cure commercial accounts princIpal princIpal- I by b y an au al item that was neglected b by Paul 0 O. Sten Stensland lanc who believed other oth oth- CI er accounts and departments more profitable hIe Proun Promises I c also were vere d til le from rom ud Judge e Bethea b by the lie committee com com- that the receiverships of the Stensland assets would bk btu IJ turned over overo overto o er to o the reorganizers to accept in trust as soon Hoon as the they evinced their ability to o care car for them For nine hours a line lne of depositors extended Irma from the main entrance of lh he the bank along Carpenter r street to- to lay day At 4 o'clock the doors were closed 1 and scores wele turned a ay a About 1700 d depositors IJ were paid and ald about disbursed Of tho time money drawn almost el eighty per pcr cent was Immediately Immediate redeposit redeposit- cd ell in the lie safety vaults aults of the thc bank Moro More than was as placed in the box boxes s Friday and Saturday Assistant States Slate Attorney Harbour declared today that hat the arrest anest of Stensland Is close at hand baud p I |