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COURT ORDERS REPORT FILED OF Receiver of Defunct Bank Asked to Show What Funds Have Been Collected Since Last Report. DEPOSITORS MAY GET A DIVIDEND Depositors in the defunct Porter County State Bank of Kouts which failed in April, 1927, with shortage which later proved to be the entire resources of the institution, approximately $200,000, may get another dividend in the near future. Tuesday in Porter circuit court, Judge Grant Crumpacker entered an order requiring the receiver, T. L. Applegate, to make another report funds collected since the last report. The order specified the report was to be filed within ten days. Recently the receiver received $6.600 as the bank's Chare of the asof Charles Cannon, former cashier, whose well-stocked farm and other assets near Kouts, were taken in charge by Charles L. Surprise, of Hammond, receiver in bankruptcy. To date only one per cent dividend has been paid to depositors, the receiver being unable to realize much from bundle of worthless notes, $58,000 of which were charged order of the court, or from assets of any of the banking officials, excepting Cannon, the majority of whom went into bankruptcy. The bank building in Kouts, one of the few remaining assets of the defunct institution, remains unsold. This will probably not realize more than $3,000 or $4,000. Porter county had $38,000 and Pleasant township about $14,000 in the Kouts bank when it was closed by the state banking department. Criminal charges against directors (Continued on page 3, column 3)
