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o Transfer of All Assets of e Barre Savings Bank & Trust Co. About Apr. 5 INTEREST TART a ON IL 1, 1922 S n Chancellor Action on Petition of ceiver After Matters Cleared Up After an all-day session yesterday at the banking rooms of the Barre Sav+ ings Bank Judge C. as Stanley and Trust Wilson company chancellor, before the latter approved the petition of the receiver, George B. Carpenter, for authority to dispose of all the assets of the closed Barre Savings Bank and Trust company to the newly-organized Barre Trust company. The decree of the chancellor will be filed to-day and must run 20 days before the transfer can be made to the new organization, which will bring the date of the transfer to April 5. The new Barre Trust company exto for as soon pects date open as business complete after that it can arrange+ ments for so doing, probably about April 10. But it was the understanding of court that the new bank, which to Bank Savings agrees the pay and depositors Trust in company the Barre in interest to 1920, will interest at of full, begin with paying up Nov. the 23, rate all four per cent from April 1, 1920, to depositors who leave their deposits with the new bank. At hearings, committees the the new representing depositors, yesterday's old bank stockholders, and attorneys the representing various interests were all interests making it known that the for the-new. dethe present, old they institution approved by offer made The folcommittee has to the the positors' lowing report depositors made the of old bank: "March 16, 1922. "To of Savings Bank the depositors and Trust the company: Barre "Your committee has investigated the situation of the Barre Savings Bank and Trust company as appears from our report to the court of chancery, which follows: "We feel that the proposition of the Barre is fair to the dethat the new tional stock and of positors, Trust capital company bank surplus, with addiin cash, will a institution reand $75,000 solid paid and be should sound the and of all of the old Trust ceive Bank depositors and support company." co-operation Barre Savings committee the to following The depositors' report the chancellor: made To the court chancery. for the of state Washington, within honorable and of of Vermont: county elected by for the purpose "The the depositors undersigned committee of the of Barre inthe proposition for over asvestigating Trust of company the taking Bank the sets Barre Savings and Trust beg the Savings "We company, requested leave Granite to whom report. and Trust company, we had not aswho sets understood Bank and might examined possibly be the intera to an exof the assets ested amination in purchase make of the Barre with Bank and Trust company. Savings view of one of determining (100) whether cent the of fer hundred per to the depositors as of Nov. 23, 1920, was the best offer obtainable. the court postponed of the offer consideration "At our request of the Barre Trust company. has been made nd advised that "Such we are examination the consider Granite bank does not care he of the assets Savings onsider purchase the proposition of to the and Barre does Trust company a fair proposition uner all the circumstances. therefore, respectfully ask the ourt to the offer rust for the "We. company accept assets of the of Barre the Barre Savings Bank and Trust comany. at the city of Barre in the day f March A. D., ounty "Dated of Washington 1922.' this 15th is signed by Leslie C. CarZanleoni, enter, The report Charles jr., James [cDonald and M. D. Keefe, committee
