Article Text
Closed Banks Assets Dry Up as Liquidation Progresses
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maining $157,976,359 assets still on the books.
Creditors still are owed $112,434,983—showing that repayments to depositors so far equal 21.83 per cent of the amount due them. A balance of $9,805,456 is still due on borrowed money after a reduction of $579,370 last quarter.
Sketches for Twenty Banks.
this quarter after paying bills. Little more left. Costs: $20,500 to protect assets, $32,000 clerical, $18,500 legal, $6,000 receivers, $500 interest.
BUILDERS AND MERCHANTS' BANK AND TRUST—Receipts, $2,601,500 [$67,000 last quarter]. Paid $958,000 prior claims and $864,000, or 30 per cent, to depositors. Has $122,500 cash [$46,000 added last quarter] and expects to pay another 5 per cent this quarter. A further 10 per cent or more indicated in long run. Costs: $365,000 to protect assets [$10,000 last quarter], with return of $313,500 [$18,000 last quarter], $134,500 clerical [$9,500 last quarter], $121,500 legal [$2,000 last quarter], $34,000 receivers, $2,000 interest.
CALUMET CITY STATE—Receipts, $129,000 [$2,000 last quarter]. Paid $10,500