Farmers State Bank (Wallace, NE)

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TWO BANKS WILL REOPEN

Wood River and Wallace Institutions Receiving New Capital WOOD RIVER. (UP) Plans for reopening the Farmers' State bank here are completed. It is expected the institution be reorganized and ready for business within short time. Depositors, at recent meeting, drew up plans for reopening which have been approved by the state banking department. The plan provides that depositors waive 20 percent of their deposits. The remaining 80 percent would be paid them the rate of 2½ percent each The 20 waived, under the proposed plan, would be repaid eventually out of the earnings of the have agreed to subscribe $50,000 of new capital. As as have approved the plan, the bank will resume op(UP). The management of the Farmers' State of Wallace, has reopened that institution. closed since 15. The bank had placed in the hands of the state department trade and to forestall threatened run. Resources of the bank were not impaired, officers said, and it was found possible reopen after an agreement had reached. under terms which depositors will withdraw only limited funds. means of stabilizing the has partially italized to the of $25,000. Charles L. Cooper is

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TWO BANKS WILL REOPEN

Wood River and Wallace In stitutions Receiving New Capital. WOOD RIVER. (UP). Plans for reopening the Farmers' State bank here are completed. It is expected the institution can be reorganized and ready for business within short time. at a recent meeting. drew up plans for reopening which have been approved by the state banking department. The plan provides that depositors waive 20 percent of their deposits. The remain ing 80 percent would be paid them at the rate of 2½ percent each month. The 20 waived, under the proposed plan, would be repaid eventually out of the earn ings of the Stockholders have agreed to subscribe $50,000 of new capital. As soon as depositors have approved the plan, the bank will resume operations. WALLACE (UP). The management of the Farmers' State bank of Wallace, has reopened that institution, closed since Oct. 15. The bank had been placed in the hands of the state department of trade and commerce to forestall a threatened run. Resources of the bank were not impaired, officers said, and it was found possible to reopen after an agreement had been reached, under terms which depositors will withdraw only limited of funds. As a means of stabilizing the bank, it has been partially recapitalized to the extent of $25,000. Charles L. Cooper is president.

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TWO BANKS WILL

Wood River and Wallace Institutions Receiving New Capital. WOOD RIVER. (UP). Plans for reopening the Farmers' State bank here completed. is expected the institution reorganized and ready for business within short time. Depositors, recent meeting, drew plans for reopening which have approved by the state banking department. The plan vides depositors waive 20 percent of their deposits. The remaining 80 percent would be paid them the rate of 2½ percent each month. The 20 percent waived, under the proposed plan, would repaid eventually out of the earnof the hank. Stockholders have agreed to subscribe $50,000 new capital. soon depositors have approved the plan, the bank will resume operations. (UP). The management of the Farmers' State bank of Wallace, reopened that institution. closed since The bank been placed in hands of the state department trade and to forestall threatened run. Resources of the bank were not impaired, officers said, and it was found possible reopen after an agreement had reached, under terms which depositors withdraw only limited amount of funds. means of stabilizing the bank, been partially italized to the extent Charles L. Cooper is president.

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TWO BANKS WILL REOPEN

Wood River and Wallace Institutions Receiving New Capital.

WOOD RIVER. (UP) Plans for reopening the Farmers' State bank here are being completed. It is expected the institution can be reorganized and ready for business within short time. Depositors, at a recent meeting, drew up plans for reopening which have been approved by the state banking department. The plan provides that depositors waive 20 percent of their deposits. The remaining 80 percent would be paid them at the rate of 2½ percent each month. The 20 percent waived, under the proposed plan, would be repaid eventually out of the earnings of the Stockholders have agreed to subscribe $50,000 of new capital. As soon as depositors have approved the plan, the bank will resume operations. WALLACE (UP). The management of the Farmers' State bank of Wallace, has reopened that institution, closed since Oct. 15. The bank had been placed in the hands of the state department of trade and commerce to forestall a threatened run. Resources of the bank were not impaired, officers said, and it was found possible to reopen after an agreement had been reached, under terms which depositors will withdraw only a limited amount of funds As means of stabilizing the bank, it has been partially recapitalized to the extent of $25,000. Charles L. Cooper is president.

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WALLACE BANK REOPENS

WALLACE Nov. management the Farmers' State Bank Wallace, has ened that institution, closed since October The bank had been placed in the hands of the state department forestall threatened Resources the bank were paired.

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DEPOSITORS OPEN TROUBLED BANKS

Institutions at Wallace and Wood River Ready to Serve Patrons

Wood River, Neb., Nov. 18Plans for re-opening the closed Farmers State bank here are being completed. It is expected the institution can reorganized and opened for business within a short time. Depositors of the bank, at recent meeting, drew up plans for re-opening which have been approved by the banking department. The plan provides that depositors waive 20 per cent of their deposits. The remaining 80 per cent would be paid them at the rate of per cent each month. The 20 per cent waived, under the proposed plan, would be repaid eventually out of the earnings of the bank. As soon as depositors have approved the plan, the bank will resume operations.

Wallace, Neb., Nov. The management of the Farmers State bank of Wallace has reopened that institution, closed since Oct. 15. The bank had been placed in the hands of the state department of trade and commerce to forestall threatened run. Resources of the bank were not impaired, ficers said, and it was found possible to re-open after an agreemen had been reached under terms of which depositors will withdraw only a limited amount of funds. As means of stabilizing the bank, it has been partially recapitalized to the extent of $25,000. Charles L. Cooper is president of the bank.

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State Bank Is Today

WALLACE, Neb., 18. The management of the Farmers State bank of Wallace, has reopened that institution, closed since Oct. The bank had been placed in the hands of the state department of trade and commerce forestall threatened run. Resources of the bank were not impaired, officers said, and was to open after an agreement had been reached under term which positors will limited amount of funds. As means of stabilizing the been partially recapitalized the extent $25,000. Charles Cooper is president of the bank.

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TWO BANKS WILL REOPEN

Wood River and Wallace In stitutions Receiving New Capital WOOD RIVER (UP). Plans for reopening the Farmers State bank here are being completed It is expected the institution can be organized and ready for business within short time. drew up plans for reopening which have been approved by the state banking department The plan provides that depositors waive 20 percent of their deposits. The remaining 80 percent would be paid them at the rate of 2½ each percent month. The 20 waived, under the proposed would be repaid eventually out of the earnings of the Stockholders agreed to subscribe of new capital As soon as depositors have approved the the bank will resume operations WALLACE The ment of the Farmers' State bank of Wallace, has reopened that institution, closed since Oct. 15. The bank had been placed in the hands of the state department of trade and to forestal threatened run. Resources of the were not impaired, officers said, and was found possible to reopen after an agreement had been under terms of which depositors will withdraw only limited amount of funds As means of stabilizing the bank. has been partially recapitalized to the extent of Charles L Cooper is president.

Article Text

TWO BANKS WILL REOPEN

Wood River and Wallace Institutions Receiving New Capital.

WOOD RIVER. (UP). Plans for reopening the Farmers' State bank here are being completed. It is expected the institution can be reorganized and ready for business within short time. Depositors, at a recent meeting, drew up plans for reopening which have been approved by the state banking department. The plan provides that depositors waive 20 percent of their deposits. The remaining 80 percent would be paid them at the rate of 2½ percent each month. The 20 percent waived, under the proposed plan, would be repaid eventually out of the earnings of the bank. Stockholders have agreed to subscribe $50,000 of new capital. As soon as depositors have approved the plan, the bank will resume operations. WALLACE (UP). The management of the Farmers' State bank of Wallace, has reopened that institution, closed since Oct. 15. The bank had been placed in the hands of the state department of trade and commerce to forestall threatened run. Resources the bank were not impaired, officers said, and it was found possible to reopen after an agreement had been reached. under terms of which depositors will withdraw only a limited amount of funds. As a means of stabilizing the bank, it has been partially recapitalized to the extent of 000. Charles L. Cooper is president.

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Stabilized Bank at Wallace Is Reopened

Wallace, Neb., Nov. The the Farmers State Wallace has reopened the closed October The placed in the the state department trade and commerce to forestall threatened of the said, and found to reopen been reached of which will withdraw only a limited amount means of the bank, has the Charles Cooper is president of the bank.