| Show stockholders TOCK HOLDERS OF i BANK ARE HELD LIABLE 1 stockholders in the defunct state bank of Duchesne 0 tu chesne will wilf be called on to to stand the file full stockholders liability ity under the state banking laws it aas was announced this morning morn lne by 9 seta e th bixton paxton state elate bank commissioner r though this will provide an amount equal to outstanding stock in the institution the state banking department department estimates there will still le be a deficit of approximately in n meeting ano claims or the banks creditors tors mr air returned to salt la co e after a trip over the uintah basin made in connection with the liquidation bation ot of two defunct institutions lie went over the affairs of 0 the duchesne ban bank with examiner in charge and the attorney and artac ii e id ed the conclusion that with tho concurrence of 0 the district court r 0 du dur chesne county the stockholders stok holders in the bank bank should assume an additional inability liability in an amount equal to the amount of stock hold held by them the bleed tor for the liability and the deficit a accounted lor for by mr air in the shrinkage of the securities held by the bank on loans as well as the unusual asual loss ot of some of the stock puring tho the winters or of 1919 and 1920 the district lost considerable stock by y the severe weather dud and in addition the value of 0 the stock has decreased considerably at myton the bank commissioner held a meeting with tho the directors of 0 the defunct state bank ot of myton upon learning that the stockholders and directors had taken no steps to ward reorganization lie ha urged its immediate consideration A mass meeting will be called next tuesday night under the auspices ot of the myton commercial club at which time the people will vote on the nation it Is expected a committee will be appointed to solicit stock subscriptions in the d district tor for taking over til th banks affairs mr air estimates some 50 will be required to take over the bank this would be used to take out ot of the bank the slow ana oad bad assets to the extent ot of this paper would be held in trust trusi by the state banking department and any liquidation effected through it would be used first to guarantee the paper taken over by the new organization and second to repay the original stockholders the removal ot of this bad paper would place the bank well on its feet with in deposits of 0 which some gokoo would bo be in good securities and the balance in furniture and fixtures and the bank building in spite ot of the failure ot of the two banks in the basin th the e commissioner said there appeared to nm to be an optimistic feeling among the me people and a marked improvement in the conditions during the last 30 days the honey crop which was seriously threatened some weeks ago appears to be turning out gooe good wane the alfalfa seed crop which nas been threatened by crickets and hoppers is promising fair returns |
