Article Text
Application of For on Assets Awaits Federal Action Application to the court by the Farmers Merchants Bank permission to pledge its assets security FinCorporation loan was approvMcCook when Judge E. Eldred signed the petition bank's receiver H. Luikart. This expected to result in an eventual assistance the closed bank and enable it to turn more payments to depositors. Whether or not the R. will grant loan the bank's assets cannot be said, until official tion is taken by the government agency. the present time application for money in the hands of Washington officials the capitol. R. Requires Time What amount money being asked this loan not reported here. All that can be secured on the assets will be requested, it understood. The details of investigating such and forwarding through the channels much time. Because that that notice of of the request may be delay. At the present time the bank has paid out 56 percent to who had on its books at the money time of closing. per cent ment last Friday put the bank of the mark. Court Gives Orders The receiver's petition to the court Saturday, signed and having become an order, statpart: then considered by the court and ordered and decreed that the application said to the Reconstruction Finance Corporation, attached to the petition receiver marked hibit thereof, be and the in all things approved generally to perform such other acts as may be necessary to carry the terms of such proposed contract for loan not than per cent of the appraised value assets be pledged:
