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Show m FAILURE BEING PROBED SALT LAKE, Nov. 22. Yesterday was another long day for tho grand jury called by tho judges of the Third district court. The seven men are continuing to delve Into tho circumstances of the failure of tho Merchants bank. In the meantime, Judge W. H. Bra-mel Bra-mel conducted a hearing yesterday on a petition filed by Stephen H. Lynch, receiver of the bank, for court advice as to action with regard to suits being brought by the Mechanics & Metals bank of New York to recover on discounted dis-counted paper. According to the petition of the receiver, re-ceiver, the Merchants bank discounted to the New York bank notes aggregating aggregat-ing $150,000. The receiver estimates that perhaps one-third of these notes are not collectable. He points out that should he, as receiver for the bank, settle for those notes as they fall due the depositors of the bank would be forced to stand the loss. If tho suits that are daily being filed by the New York bank should bo allowed to go to judgment, the receiver would have fo settle pro rata all of the judgments that were not satisfied by the original signers of the notes, of which the Merchants Mer-chants bank figured in the position of I Indorser. nn |