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AMERICAN NAT'L BANK DIVIDEND SOON IS HINTED Depositors in B. H. Bank May Get Payment Before Holidays When W. Payne winds up the details of his work as tor for the old Farmers and Merchants bank in Benton Harbor in day he's going to turn his couple dividend distributions for the benefit of more bank depositors. ten per cent dividend is in prospect for the of the American National of Benton Harbor, and similar distribution in prospect the depositors of the Buchanan Mr. Payne, as receiver, having charge both trusts. Expected Before Holidays It's expected that the two dividends will be before the holidays, although Mr. Payne will hazard no guess as the got to get all through with this job (referring to the M. before turn my attention to other matters," he said today. However, it is known the ten per cent dividend for the American tional depositors, who have already had 35 per cent, has been in prospect for some time. of the sister city's preferred claim against the American recent transaction, has hurried along the chances another American National With his duties over as the conservator, Payne goes back receivership duties in Joseph, Benton Harbor and He the only national bank receiver the state who has three trusts While he was in charge of the hired R. formerly trust officer of the American National later with the Benton Harbor State, to take charge of the Buchanan trust. recently landed job with the federal land bank at Paul and has gone there, while his place has been filled at Buchanan L. Gose, of Denver, Colo. The costs of the conservatorship of the under Payne, will be borne by the old bank. The retiring conservator says this operating cost will be amply sustained by the earnings of the M. while was closed, interest other earnings going on even though the bank was practically standstill outside of its trust business. Thus the cost of the not have come out of assets which Payne turns over to the trust committee for liquidation for the benefit of the old M. depositors.
