Show My Myton ton on State a e Bank an Closes oses its s Doors Door An ominous sign appeared on the front door of at the Myton State Bank Dank yesterday esterday morning The words were few but they were pregnant with meaning Closed temporarily by order of Qt the state banking department Coming as It It does in less than six months after the disgraceful failure of at the First National Bank Dank of Myton l this failure whether but temporary or permanent will load load us us down with n a burden hard to carry but we must carr carr- carry it We Ve must not allow ourselves ourselves- to get too deep in the slough of despond If It there ever was a time when a man should put Jut forth every effort and dig the hardest it is when the hour bour seems darkest When the sea Is 13 smooth and the sailing is easy we can afford to let the oars rest a little but not when there is a storm The business men of this community must operate co-operate and they must as far as possible cultivate optimism instead of ot so much of Old Man Gloom If the truth were known Old Gloom contributed largely to that bank failure One little word carelessly spoken hatched the thought for another word which carried danger with it and there you ou are If you have any money in that bank you ou better better bet bet- ter take it out That was all but it helped to do the work Many any depositors lost confidence and began to withdraw withdraw withdraw with with- draw and that settled it Money is timid and the least scare will make it take refuge in a sock or under a mat- mat tress Whoever this Old Man Ian Gloom was he ought to be prosecuted Other things contributed to the failure Liquidation of the First National and the Duchesne banks hurt All the money collected by the receivers went out of the basin There may be still other causes that will come to light If so we expect to publish same The Myton l State Bank was the pioneer Institution in Duchesne county and the second oldest in the Uintah basin It was organized in 1909 The building which stands on the corner of at the two main streets a a. two story cement with basement is owned by the company It is believed all depositors will be paid one hundred cents on the dollar How soon there is no telling There will be approximately deposits to pay vay There is said to Ita be more than enough gilt edge mortgages to meet this demand If H not the real estate owned by bythe bythe bythe the bank hank Includes the building the Broome garage and the C. C W. W Evilsizer property total value around All the assets above mentioned do not include assets held by the Federal reserve Seth state bank commissioner arrived last night and is now in charge and is busy taking an tory Myton must have a bank and doubtless in the near future will have |