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OCONTO BANK MAY REOPEN, SAYS LINGER President of Institution Says Many Businessmen Interested. (Special to Press-Gazette) OCONTO. Wis.-That there is possibility of reorganizing the closed Oconto National bank, which would afford its depositors protection, is indicated in the statement made Saturday to Green Bay Press-Gazette representative by Dr. Earl A. Linger president of the closed bank. The bank suspended operations on Aug on the order of its board of directors because of "frozen assets" and heavy withdrawals. Harry W. Walker Chicago, federal bank examiner, took charge of affairs immediately and during last week A. R. McLean the national banking department audited the books Perry Peters has been announced as the receiver appointed for the closed bank by the D. C. He is due at the bank today Dr. Lingers statement follows: "The Oconto National bank suspended business on August because of the rapid withdrawal of funds from the bank. The bank's books are being audited this week by the national banking department Perry Peters has been appointed by the Comptroller of Currency at Washington to act as receiver for the bank. Mr. Peters will have complete charge and will liquidate the assets of the bank: he will also have authority to turn the assets of the bank over to new bank providing the necessary capital can be secured for its organization. "The directors of the Oconto Na. tional bank are very anxious to perfect reorganization and take over the assets of the old bank: this they believe to be the best step in the protection of the depositors of the old bank. Business men who have been approached on the proposition of taking stock in the reorganization have shown fine co-operation and many men who previously were not stockholders have signified their willingness to come into the reorganized bank and it is now thought possible to raise the necessary funds with which to reopen the bank. "If depositors of the bank will be patient until the audit is made and the receiver takes over the assets of the bank, statement can then be made as to the probable time required for the reorganization. LEONA LINDGREN WINS TITLE OF MISS OCONTO contest conducted by the Bodnar Brothers shows in connection with the Wisconsin Paid Firemen's convention here and the Oconto homecoming celebration resulted in awarding the title of Miss Ocento to Leona Lindgren, daughter of Charles Lindgren, town of Little River farmer. She received 21,620 votes Thelma Jarvey. daughter of Mrs. Mary Jarvey, Lamkey st., took secoond place with 19,600 votes. Third place went to Madge Wheeler Miss Oconto was awarded silver loving cup and diamond ring Second place winner received wrist watch and third place a costume set. With the departure of the firemen and the shows Oconto streets took on deserted appearance in comparison with the crowds which filled the streets during last week. The Bodnar Brothers shows went to Antigo.
