Milford News | 1932-06-09 | Page 4 | Relief for Closed Banks

u RELIEF FOR CLOSED BANKS The closing of a number of the smaller banks in southern Utah is not only a result of the general national depression, but has been a decisively contributing factor toward the aggravation of a condition already bad. If these closed banks could be reopened, reopen-ed, as was the case with the Cedar City bank, or at least quickly liquidated so as to put some $2,000,000 into circulation in this region, re-gion, the financial recovery would be materially hastened. The Associated Civic Clubs of Southern Utah has been working work-ing on this matter as one of its many worthwhile projects ever since the ruling of the Utah supreme count to the effect that closed clos-ed banks would not be permitted to borrow from the Reconstruction Reconstruc-tion Finance corporation. The purpose of the organization is to have the matter remedied by a special session of the legislature.