Article Text
DEPOSITORS RETURN TO STATE SAVINGS PLANS ARE BEING MADE FOR REORGANIZATION OF BANK. FLURRY HAS SUBSIDED While plans for reogranization under the state banking stabilization law were being perfected by officials of the State Savings bank under direction of the state bank. ing department, other banks of the city Wednesday were doing routine business, with little to remind them of the flurry of withdrawal which the closing and reopening of the State Savings bank Tuesday Patrons of the State Savings bank were redepositing their money there this morning under the reorganization, and at the other banks the usual banking business was being done, deposits were coming in about normal volume and the banks were cashing checks, issuing drafts, etc., in the regular course of business. Plans for the reorganization of the bank are still indefinite. No effort has been made as yet to secure according to W. S. Baird, vice president, and no trustees have been appointed yet to take over the old affairs of the bank. Probably it will be three or four days before action can be taken on these matters. City, county and school funds which deposited in the State Savings bank are protected under the bank guarantee law. No definite date can be given as to when the bank will begin to pay off depositors, Baird said, but it will be as soon as possible. Meanwhile at other banks the flurry of withdrawals had subsided. G. Turner, chairman of the board of directors of the City Na. tional bank, announced that the "run" had touched the bank only "The last day of February and the frst day March are always heavy days in this bank," he said. "Of course there were some withdrawals, but they were mostly of the smaller savings depositors and many of them have again deposited their funds in the bank." A small line of persons was waiting at the statement window at 11 a. m., but the other windows seemed no busier than usual. Roy Maxfield, vice president of First National bank, also said ceased. that withdrawals had practically "We are prepared to pay all those who want their money," he declared, "but reason to believe that the panic which always follows closing of a bank has sub sided. "The people of Council Bluffs have no reason to fear any bank in the city. "The big run of withdrawals was taken care of Tuesday without trouble, B. A. Gronstall, vice president of the Council Bluffs Savings banks, declared. Today everything is going along in the normal way.'
