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Seventy Per Cent Dividend for Depositors Failed Bank
Receiver Miller Authorizes Statement That Within About Two Weeks First Dividend to Depositors in Failed First National Bank of Denton, and Amounting to About $37,000.00 Will Be Paid in Denton, at The Farmers State Bank---Another Dividend Later.
A 70 per cent dividend!
A total cash payment of $37,000 in round numbers!
This is the vastly pleasing news for depositors in the failed First National Bank of Denton, given out officially here last Tuesday afternoon by J. R. Miller, receiver.
The checks to depositors have been made out and are in the mails going to Washington. After arrival at the treasury department the checks will be signed by the comptroller of the treasury, and re-mailed to Receiver Miller.
Disbursement of the dividend checks will be it will be as much as 25 per cent, and possibly a little more.
Thus the forecast of the Recorder, in its news story of the closing of the First National Bank of
Denton, that the depositars would receive approx- imately 100 per cent of their deposits, and that a new, stronger and better bank would be set up in
Denton, will have been fulfilled. The latter fore- cast is now an accomplished fact, to the great grat- ification and benefit of the farmers and business men of the whole Denton area.
It is really a wondersul record that Receiver made at the Farmers' State Bank in Denton.
Miller is making in this matter, and one that will
Receiver Miller indicated that about two entitle him to the unstinted praise of all concerned. weeks would elapse from the time the checks were mailed from Lewistown Wednesday afternoon be- fore they would be available for disbursement.
It is no more than fair, in this connection, to point
An additional dividend will be paid out in the not distant future. While the amount cannot be officially stated at this-time, as collections on the out that President A. C. Edwards, of the successor bank, has been an invaluable ally and helper. His attitude throughout has been creditable to the last assets of the failed bank have not been finished, degree.
Great credit is also due the Depositor's com- mittee, by whose co-operation and untiring efforts although that work is in active progress. the assets of the bank were disposed of at the
However, from such information as has been gathered by the Recorder, the indications are that best possible figure, and who 80 ably assisted in the establishing of the new bank, and sustained a spirit of harmony thru all the dealings.
