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Pittsfield Bank Sale Approved Order Issued Late Wednesday by Judge John A. Peters in Bangor Following hearing Wednesday afternoon in the United States district court on the petition of Harry Coolinge Pittsfield, tor of the Pittafield National Bank for approval of the of the seta that bank to the ganized bank be known the First National Bank of Pittsfield. the sale was approved by Judge Peters. who issued an order thorizing the sell the assets, the contract with the new bank having been by the comptroller and the directors of the Pittafield National Bank. was further ordered that application may be made in due course for such to the petition and the order of the court as may be appropriate and necessary carry into force the provisions of In the petition of Conservator Coolidge was that the Pittsfield Bank was suspended March and on March appointed and qualifie That the sale will enable the conservator an pay dividend creditors without sacrifice shrinkage in value assets sold. bills celvable and like fure will be sold full face value plus interest to date of livery and other assets will be sold their market The new bank will buy the assets estimated value of consisting of each funds. United States bonds, furniture and equipment and bills reIn consideration the new bank will pay (a) $658,200. said sum corresponding amount to 35 per cent. of known estimated net unselcured liabilities and liabilities entitled to priority payment said old bank. (b) The sum of $1,800, the sum corresponding amount to 100 per cent. of known estimated not secured liabilities of the old bank. (c) Such as equal 35 per cent. of unknown liabilities, any. (d) Such sums equal 100 per cent. preferred claims now hereafter establishBigelow is president of the bank and George A. Moore cashier.
