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Ionia, Jan. 23.—A new system for the disposal of bonds and securities held by state banks in receiverships has been placed in effect by the state banking department. This was revealed here Tuesday in an order granting James L. Barker, receiver for the Saranac State bank, blanket authority to dispose of a list of $66,588.44 in slow bonds and securities from time to time in a manner recommended by the state banking department. The order was approved by Circuit Judge Royal A. Hawley. Request for the order was made by Glenn Mathews, attorney for the receiver, after a receipt of a letter from Rudolph Reichert, state banking commissioner, urging such action. May Obtain Better Prices. Reichert pointed out that blanket disposal order would enable the bond division, which the state banking department has established, to help receiverships liquidate their holdings to take immediate and better advantage of market fluctuations in security prices. In the past it has been customary to secure court approval for each individual sale or refunding transaction. By the time this could be obtained, a temporary advance in the security under consideration sometimes has been wiped out. Commissioner Reichert pointed out that similar blanket releases are being sought on securities held by all state bank receiverships and that the grouping of various blocks of securities might permit better trading terms. He likewise indicated a blanket disposal order would save the cost of repeated court hearings. His communication was cited in Receiver Barker's plea for the Saranac order.