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LAPEER COUNTY BANK TO RELEASE $150,000
20 Per Cent Pay-off Announced by Receiver Rhead for Nov. 13.
Imlay City, Nov. 9.—Lapeer County bank at Imlay City will release 20 per cent of moratorium funds amounting to $150,000 on Tuesday, Nov. 13, according to Ronald Rhead of Lapeer, bank receiver. The release on Wednesday will make a total of 45 per cent in releases, paid by the bank 40 per cent being made during the receivership of Mr. Rhead.
The pay-off Tuesday will be made by liquidating assets of the bank, thus eliminating the necessity of borrowing the fund, Mr. Rhead explained.
James Webb suffered injuries Wednesday, when a heavy anvil with which he was repairing a pump at the Michigan Milk producers station, fell on his right foot.
Officers and teachers of the Methodist church will meet tonight in the church at 6:30 for a supper and election of officers. Men of the church met Tuesday when a club was organized and plans were outlined. Officers are President, Ray Butler; vice president, Lester Parker and secretary-treasurer, Roy Odgen.
Miss E. Minto of the West African missionary society, will talk at the family night meeting at the Congregational church. Supper will be served at 6:30.