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HIGHWOOD BANK ISSUES DIVIDEND Ten Per Cent Allotment Mailed to Creditors This Week Amounts to $16,176.33. Creditors of the Highwood State bank are to receive a 10 per cent dividend this week, according to a court order signed Saturday by Judge Ralph J. Dady. This dividend will bring the total distribution to creditors of 55 per cent of the total claims allowed. The petition for the court order to permit the payment of the new 10 per cent dividend by Receiver William L. O'Connell shows that all preferred claims against the bank have been paid in full and that $161,763.30 of bank deposits and other claims were allowed. The Highwood bank was closed in the summer of 1932 and was placed in the hands of the receiver by the state auditor on Sept. 3, 1932. Since the receivership two previous dividends of 10 per cent each and one of 15 per cent were paid. Checks By Mail This new 10 per cent dividend is to be distributed to the creditors in the form of checks to be mailed within the next few days by Deputy Receiver H. E. Robertson. The total distribution of the dividend will amount to $16,176.33. The payment of the dividend has been approved by the state auditor. With the payment of the Highwood State bank dividend, the state bank receiver in Lake county will complete the distribution of dividends to depositors and creditors of two defunct banks this month. Checks for a 10 per cent dividend were mailed by the receiver to creditors of the Libertyville Trust & Savings bank on Aug. 15. Trustees of the assets left by depositors of the First National bank of Waukegan following the bank holiday in March, 1933, have also made a dividend payment this month. On Aug. 15, Ernest Gold, secretary to Trustees Charles N. Steele, Dr. Frederick E. Besley and Lee Murphy, of the assets, distributed $225,000 to depositors of the First National bank in the form of a 20 per cent dividend.