Show BANK BANK CLOSED 25 YEARS PAYS UP Depositors Will Fill Receive Big Premium Original On Ort inal Accounts WESTERLY R n I Dec 10 10 D Cy Dy The Associated A Press Press bank which was closed by the courts In 1901 for tor In- In investments In Investments vestments will begin payments today to its depositors which will ra raise the total they ha have vo received to per cent with more to come Back Dack In 1901 IDOl when this little littletown littletown town town had fewer than resi resl resi- resi residents residents dents It was shocked when the doors of ot the tho l Mechanics Savings bank founded In IS 1840 40 I were closed There were 1900 savings accounts one to every fourth per per- person person person son of the population and the tho leading business men of ot the com corn community were the directors Too much mach wildcat stock In Oklahoma oil well wells and Florida orange e groves was the tho common talk Cut But the directors were able to distribute 25 per cent of o the deposits four months utter after the tho closings cent In 18 25 per 25 per moro months and then dribbles of ot 5 and 10 per cent at Intervals until the Investors had recovered every cent of their mone money and 10 cents on the dollar dollar dollar-as as premium The wells and groves lS produced The two surviving directors Ira B Crandall retired clothing mer mer- merchant mer- mer merchant merchant I chant and Thomas Nichols still lit In the banking business voted a 0 distribution of ot beginning today from the proceeds proceed of ot the tho oil lands Within six or seven senn months said Mr tr Crandall Cranall we expect to reduce our remaining assets to cash and will wll pay another dividend dividend ot of six or seven per cent |