Show CC PT ahn TO LIQUIDATE STATE ASSETS commatee Comm itee of seven will handle matter if per cent sign A vast majority of the depositors of the state bank of sevier which was compelled to close its doors january IS 18 on account of embezzlement of more than of its funds by A J bird assistant cashier packed the auditorium of the tabernacle last thursday january 28 23 to consider a plan of liquidation which was presented by the directors with judge N J bates as spokesman A J ashman was unanimously elected chairman of the meeting after some two hours discussion and explanation the depositors finally voted to accept a plan of liquidation such as was used by the moroni bank last year with very successful results this involves the turning over of the matter of liquidation to a committee of the depositors working with the state banking department to handle it and it is said that this method is much less expensive the following committee was elected to make a study of the assets of the bank and to apportion the funds to the best of their judgment N J bates lewis W jones D P jensen H H petersen V F bradley david A smith and dan peterson before such a procedure can be carried out it is is necessary that absolutely every depositor or other creditor sign the agreement to give this committee con complete power to handle the situation more than agreements were signed at this meeting and the great majority favored the plan the committee will within the next few days mail out double postal cards to every depositor who has not yet signed one side of the card will contain the following message and the other side will carry the agreement which is also given here the more quickly these signed cards are returned to the committee the sooner can they start paying off the depositors and the less the expense will be message dear depositor A large majority attended the meeting of depositors held january 28 1932 called to consider the best means of liquidating the affairs of the state bank of sevier after full consideration it was unanimously concluded that the best course would be to appoint a committee and give them full authority to represent all depositors in the settlement of the banks affairs for this purpose everyone present representing more than accounts executed an assignment of their c claims to the committee appointed we feel confident that you will desire to join the rest in this movement and for that reason we are mailing you the attached form of assignment used by other depositors with the hope that you will immediately sign and return the card caid the quicker you reply the earlier you will get returns very truly yours D P JENSEN secretary of the committee agreement we the undersigned undersigner under signed depositor or depositors in the state bank of sevier hereby assign to H H petersen D P jensen lewis W jones dan peterson V F bradley N J bates and D A smith a committee appointed by the depositors po to assist in the liquidation of the bank all and several our claims and accounts in every nature whatsoever against the said state bank of sevier and we hereby give and grant unto them full and complete authority to act for and in behalf of us either cither jointly or severally in any and all matters pertaining to said institution and its liquidation including the right to execute for and in our behalf severally full and complete release of our respective claims against the said bank and the state banking department of the state of utah in consideration hereof it is hereby understood that the said committee will make such distribution of the assets of the said ban bank for the several depositors and other creditors as in their judgment will be equitable qui table and just and that distribution bo be made to the un der signed will be accepted by us severally in full and complete satisfaction is and as final and full payment of all our said claims in witness whereof we have hereunto set our hands bands the day and year indicated preceding our respective signatures date sign here |