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Fountain City Bank May Re-open Monday City Bank of Fountain City probably be ready re-open Monday, Dr. Carl Martin, one the promoters of the new plan, said last night. course, won't know definitely until the meeting the night at Central church of Fountain City," he said. The name may be changed Bank of Fountain City block 600 shares has obtained the former and City residents scribed for all Directors will be elected Saturday night.
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BANK WILL BE REOPENED To Be In Operation Monday or Tuesday; Dr. Martin Is Chosen President. With new name ficers, the Fountain City Bank be reopened Monday or Tuesday the latest, stockholders and directors decided last night they completed reorganization. Dr. Carl Martin was chosen president. The bank, which suspended Jan. 20, the same day the East Tennessee National Bank closed, formerly was called City Bank of Fountain City. Application for change in name is being made. Restrict Deposits Under plans carried forward since suspension, withdrawals of old deposits will be limited to four per cent month. New deposits, however, can be withdrawn at any time. holding 90 per cent the deposits have agreed the withdraway. Martin said, following more than month of intensive work Fountain Citians seeking to revive the bank. "There very confident and hopeful spirit felt over Dr. Martin reported. State examiners approved the plans. Reorganization gives control of the bank stock the Fountain City people. Capital stock is 000. Have Deposits At the time of its suspension the bank had in deposits, on hand and due from banks amounting and and liabilities of more than $124,000. Stockholders met first last night and elected directors. The elected the following ficers in adidtion to the president: Prof. W. R. Woolrich Cashier, Henry. Assistant cashier, Claude Myers