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Show BUTTE BANK HAS CLOSED ITS DOORS Fear of Run on Institution Causes One of the Strongest Banks in Montana to Close up. The Statement Is Made That the Bank la Solvent and That the 6,000 Depositors De-positors Will Receive Their Money Within the Next Sixty Days. Dutto. Tho Stato Savings bank ot Dutto, ono of the Inrgest Institutions ot tho kind In Montana, which was generally spoken of as tho Helnzo batik, closed Its doors shortly after 10 o'clock Thursday morning. This proceeding wns tho result ot a meeting meet-ing of tho directors, who posted this notlco on tho door; "Because of unsettled rumors that cannot bo verified that may cause unusual and excessive demands by depositors, de-positors, and owing to a shortago nt currency and Inability to Becuru Additional Ad-ditional currency Immediately with which to pay demands which may bo made, tho management has decided It advlsablo In tho Interests of all depositors depos-itors to suspend for tho tlmo being. The bnnk Is solvent." It Is stated that tho bnnk Is solvent sol-vent and will pay out Inside of sixty days. Otto Helnzo & Co. did not owo the bank a dollar, and K. A. Helnzo owes It less than $30,000, which Is amply secured. Mr. Largoy, president, presi-dent, owes It about $7,500, and he Is ablo to pay many times that amount Tho bank holds on band about $300,-000, $300,-000, and Its deposits amount to about $3,000,000. Thcro nro abont G.000 depositors, de-positors, and of this number 575 aro commercial deposits; tho others aro savings of working men and women. Tho directors announce that they will proceed with tho building of tho new bank, which Is nearlng completion, comple-tion, nnd which will coat $200,000. Stato Rxamlner Collins will tako charge ot tho bank. |
