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21 STATE BANKS CLOSED DURING YEAR Nearly Five Millions Paid Nebraska Depositors. MILLION BALANCE IN FUND Proposed Amendment to Guaranty Law Opposed by Bankers. Lincoln, Neb., Jan. 1.—(Special.)—Assessments upon state banks for the guarantee fund, from January 1, 1922, to January 1, 1923, will amount to $2,250,000 or eight-tenths of 1 per cent, according to figures compiled from estimates in the office of the State Department of Trade and Commerce, drawn off the books of R. A. Chase, of the bank examination division. This leaves a balance of $1,000,000 in the fund. These balances are kept by the various state banks subject to the draft of J. E. Hart, head of the department, to cover losses. Deposits in state banks closed amount to approximately $4,750,000, all of which have not been paid for the reason that banks that were closed late in the year have not settled with the department. "It usually takes from 60 to 90 days to close up the affairs of a bank when receivers are appointed," Mr. Chase said. There were fewer failures this year than last year; or, to be exact, it was not found necessary to close as many banks and to administer upon their affairs. During 1921, the department closed 23 banks. This year 21 banks have been closed. No law is perfect, but one feature is encouraging, so the department believes; namely that no depositor has lost a cent by the failure or closing of banks. From time to time bankers and financiers have advocated amendments to and changes in the law; but such propositions have come to nothing because the State Bankers' association has opposed any "monkeying with the law," feeling that such changes and amendments might be taken as a lack of confidence in the present statute. In banking circles there is such sentiment for an amendment which will incorporate the features of the South Dakota law into the Nebraska statute. The South Dakota law practically prevents the closing of a bank at the discretion of the state department. Especially when there is any chance to tide the bank over. Banks Taken Over This Year. The following banks have been taken by the department during the year: the Goodrich Bank at Fairbury; the Farmers State Bank at Bayard; the Exchange Bank at Ogallala; the Homer State Bank; the Farmers and Merchants Bank at Walton; the New Castle State Bank; the American State Bank at Long Pine; the Bank of Waterloo; the Endicott State Bank; the Nebraska State Bank at Milligan; the Shelton State Bank; the Wayne County Bank at Sholes; the First State Bank at Hemingford; the Farmers State Bank at Benedict; the Waco State Bank; the Gering State Bank; the Farmers Bank at Bennett; the Southfork State Bank at Chambers; the Citizens' State Bank at Kimball, and the American State Bank at Omaha, which was the last bank of any importance to fail. One year of which the department is proud is 1920, during which there were only five banks closed. So far the record is, 49 banks closed by the department during the past three years. In the great majority of these instances, banks were closed, not because of any criminal mismanagement, but simply be-