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J. H. BANE RESIGNS AS RECEIVER OF BANKS HERE Has Accepted Position With Federal Deposit Insurance Corporation Mr. J. H. Bane, receiver of the Garrett National Bank of Oakland; the First National Bank of Kitzmiller, and the Bayard National Bank of Bayard, W. Va., for the past several years, has resigned and has accepted a position with the Federal Deposit Insurance Corporation, Washington, D. C. Mr. Bane's resignation becomes effective within the next few days. Mr. Bane's headquarters will be in Mahanoy City, Pa., to which place he will move his family from Morgantown, West Va., where they have resided during the past year. The depositors of the Garrett National Bank, Oakland, have received 95 per cent of their claims in dividends and it is contemplated that the remaining five per cent will be distributed in the very near future, Mr. Bane said yesterday. Depositors of the Kitzmiller Bank have received 65 per cent of their claims and an additional dividend is now in course of preparation and will be paid in a very short time. Depositors of the Bayard National Bank have received 58 per cent of their claims and the payment of additional dividends is contemplated. Mr. Bane has also been serving as receiver of the Kingwood National Bank, Kingwood, W. Va., and the First National Bank of Newburg, W. Va., and will also give up the receivership of these two banks. In 1931, Mr. Bane began his work as receiver in Preston county and took over the work in Garrett county in 1933. During his administration of the affairs of these closed institutions Mr. Bane has been particularly careful not to work hardships on those who were willing to pay their obligations but were unable to do SO on account of the stress of circumstances, with the result that he leaves Oakland with the good will and best wishes of those with whom he has come in contact in social and business matters.
