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RECEIVER OPENS FIRST NATIONAL CONSOLIDATED WITH OTHER INSOLVENT BANKS DYKES IS IN CHARGE Liquidated Parsons, Kan., Bank 100 Per Cent Plus 6 Per Cent Interest There has been considerable quandary since the closing of the First National Bank concerning its re-opening The bank is now open under the direction of John H. Dykes, the receiver, who with his assistants consisting of J. H. Smith, L. E. Bredine, E. F. Bollinger and Miss Kathryn Klotzbach, will endeavor to liquidate the bank in speedy manner and make as little loss to the depositors as possible. Mr. Dykes is also ceiver for the Nowata National Bank, the First National Bank of Sapulpa, and the First National Bank of Barnsdall. He is national bank receiver by profession. This is the sixth insolvent national bank that he has liquidated, the first bank being the Farmers National bank at Parsons, Kansas, which he liquidated 100 per cent to the creditors plus 6 per cent interest on their money. Mr. Dykes will make his headquarters in Collinsville and handle all the banks from this point. The Comptroller of Currency in the interest of economy consolidates failed banks under one receiver as in this instance,, and the receiver is paid a flat salary per year to handle as many as he can. Mr. Dykes states that the creditors of the First National are fortunate in this respect as his salary is just the same now with four banks as it was with three before he was placto ed in charge of the local institution. All debtors are urged to call for an interview with Mr. Dykes at once. Those having property left in safekeeping should call for the same immediately as the receiver will not be responsible for it. All depositors may call at the bank and obtain their cancelled checks and statements and prove up their claims. Mr. Dykes appears to be very congenial person but under the condition it makes it necessary for him to be a bit "hard boiled" if the case necessitates. He has the power of both federal and state courts to enforce the collection of debts due the bank. He appears to want to be fair with those having notes with the bank and would like to have them call and Total make arrangements to take care of their paper at once. The News gets the impression that he expects to be fair with those who wish to be fair Deposits with the bank. pledge Collinsville is getting the reputation of having the coolest headed people possible. They have not beDeposits come excited about the losing of any of the industries and there was no great excitement apparent when the last calamity hit the town, although some of the business firms have been compelled to postpone payments to their wholesale houses on this ac849.10 count. However, that is the only thing they could do for any demonTotal strations of violence to any one would not get their money for them any sooner. ter is good as well as vocalist, having played saxaphone and bass in the local bands while merely boy. In fact he started in the boys band organized by the News editor the year the war took all the older band men into the service and boys were all that were left to make up a band. This band was very popular at the Confederate Veterans reunion held at Tulsa that year, and at which time Collinsville was well advertised by her bands. The News is surely glad to see these young musicians making good at their work It only proves that many of our young people at the present time are wasting opportunity by not taking up something useful in their spare time.
