Article Text
GUARANTY FUND DECISION GIVEN Depositors in Closed Banks Whose Claims Were Held Up Are Granted Rights Depositors in closed banks, whose been held up by bank entitled rights guaranty fund their claims been allowed time the bank ing decisions the state supreme court, received in Sioux Falls today. Up March 1923, the Guaranty Fund and all claims March and March number bank failures such that could made in since then payments been made only the number cases failed prior March 1923, against the final decision delayed litigation The court now holds that the in these cases, they finally succeed in establishing their claims, the the claims had allowed at the the bank The cases in which the decisions were rendered against banking department and Lytle against banking depart ment. The plaintiffs were both depos itors the State Winfred which closed 27, 1922. made claim against guaranty fund for payment their deposits but the perintendent banks rejected the claims, that the bank had agreed pay rate of interest by Plaintiffs then suit the super intendent allow the claims, and the cases not finally until ter March when the Guaranty Fund had ceased making then th plaintiffs good claim against Guaranty Fund, but the banking partment claimed they only to certificate the when the claims were finally sat isfled, which gave them only smal percentage their The preme decision would not be equitable require the plaintiffs March 1926, but that the plaintin should either paid in full receive certificates 27, 1922, and payable March 1923 Cherry, Davenport Braithwaite and Caldwell Burns for the Null Royhl Huron for the banking department.