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MERRIL DEPOSITS RULING ANNOUNCED Court Decides School Districts' Funds Have No Preferred Status. School closed Merrill State by Merrill school district and districts Jonesfield Lokefield Marion townships classified ordinary deposits as trust in decision Thursday by Circuit in Jonesfield township the four Lakefield and the fractional district of Lakefield and No. of Marion townships suit against closed Merrill that tion their deposits, totaling Each the 10 districts petitions the proceedings but because all nearly identical one with bank ing acting the plaintiff The court was asked school stituted preferred claims against all assets the bank receiver protesting action proved the deposits made full knowledge understanding of the districts that the for tion of their deposits. It was this