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DEPOSITORS ARE UNEASY Meeting of Men Whose Money Is Tied Up in Defunct Olyphant Bank. HAVE ENGAGED AN ATTORNEY Dividend of Fifty Per Cent. Was Promised to Them to Be Paid on April 4. It Has Not Been Paid and They Are Restless. Depositors of the insolvent Olyphant bank are becoming uneasy over the failure of the promise made to them that a dividend of from 50 to 60 per cent. of their deposits would be paid on April 4. The bank went to the wall on Jan. 28, and its collapse caused unexampled consternation among the people of Olyphant and vicinity. It was supposed to be doing a business at a figure averaging. $50,000, but when it failed only $3,000 in cash was found in the safe. Immediately after the institution went into the hands of the courts and Attorney John P. Kelly was appointed assignee, the reports went out that the depositors need not worry, that dollar for dollar would be paid to them; but, of course, it would require a little time, and they would be expected to exercise due patience. It was good and cheerful news to them when the announcement came to them from Assignee Kelly that on April 4 or thereabouts he would be able to restore half of their money. April 4 has gone by a month, and no money has been forthcoming. That the cause of the unrest among them and the reason for two meetings that have within a week been held. The first time they assembled since the failure was on last Wednesday evening at Mahon's hall, Olyphant. A. M. Carpenter, who is treasurer of the Blakely school district, and had $4,000 of school funds on deposit when the bank failed, was chosen chairman. Dr. W. E. Lloyd, of Olyphant, was appointed secretary. At that meeting John T. Mooney and David C. Phillips, with the chairman, were selected as a committee to engage counsel to take their interests in hand. Recommended Attorney W. W. Watson. That committee came to Scranton this week and performed the task that had been assigned to it, and was ready to report at last night's meeting. The services of Attorney W. W. Watson, of the law firm of Watson & Diehl, were engaged conditionally by the committee, and the depositors ratified that selection and a subscription was taken up among them to liquidate the expenses that have accrued up to date and to pay the retaining fee. Actually there are not more than 150 depositors, but there are SO many school children who had accounts from dimes up to a few dollars, that including them the number of depositors would aggre-
