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Mass Meeting To Pass Upon New Bank For Lake City To Be Held Friday Afternoon Stock Subscription Going Good; Prospects Are Considered Bright. Whether Lake City will have new bank in the near future and whether the new organization will take over the afairs of the defunct Bank of Lake City will be decided at mass meeting which has been called for Friday afternoon at two o'clock at the courthouse in Lake City. Mayor F. Johnston has issued call for the meeting, requesting the attendance of all depositors and stockholders of the defunct bank and all other parties interested in a new bank. Five petitions for stock in the proposed new bank are in circulation and much stock has been signed. The amount is now between $20,000 and $25,000, it is stated. Drive to organize a $50,000 bank is being made, however an institution can open with $25,000 stock. If the mass meeting acts favorably and the required amount of approved stock is bound to be signed up then the state banking will be asked for permission for estab lishment of new Meanwhile the checking up of the old bank by Receiver Noel Burke of Marianna proceeds. Lake City citizens stated that many parties outside of that town had volunteered to take stock in the new institution, that liberal response was coming from Jonesboro. Prospects are reported to be bright.
