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July Plans completed here today for the reopening the Palatka Bank and Trust which closed its doors pany July due to inability of collect certificates of time deposit Georgia bank. The reopenplan followed along lines suggested by Ernest state comptroller of currency. Depositors signing agreement allow 45 of their remain in the bank for money four months. gradually after that period. Thircent of the money will remain "frozen" until the Georgia paper credits are repaid making 20 per cent of the positors' money available for mediate withdrawal. Mobley. cashier of the bank. will remain charge the request of the depositors. The bank expected repay each dollar owed since its severance from the bank chain system which caused its slight run Putnam National bank here Friday had completely stopped. and deposits yesterday topped by thousands of dollars The chamber of commerce here working plan the East Florida Savings and Trust which closed Wednesday. Both of the closed banks here entirely solvent except the cutting down of the total reserve in the Florida East Coast and inability collect on Georgia paper the Palatka Bank and company. Business cally improving. according merchants. and general feeling confidence
