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CONSERVATOR IS NAMED FOR TWO FLINT BANKS classified somewhat as arguments contrary been there not been the real and other that had taken Detroit. It maintained spokesmen that Flint business on the have large better values well present But eventually became that, qualify now much better condition required than would have have passed requirements. Once made scribe rebuilding struebut the placed high Failing these efforts, National to Washington send their Lansing
Examiners Are Here the meantime, response appraisals This finished state men for the three state instifor under will depend largely upon the Under state emergency banking opportunity for basis of such assets not be 'frozen Deposits be impounded to the of these assets would held pending their liquidation. per of bank segregated offset up not than Under the is possible preferred stock half of deposits and certificates would The bank would permitted years which liquidate "frozen" assets and good terest, and the which bear Failure would liabilequal to the par value of their Thus, cited for this examdepositor with in find free for legitipurposes. He $30 stock and $30 Flint banks can qualify plan determined only after thorough investigation.
National Reopens
Carl F. federal the First National Bank Trust this that stores the institution the basis during holiday prior Saturday Mr. Spaeth this authority appointment conservator This mitted which the holiday that funds from deposits and are safety deposit is open meeting the division of the Chamber the banking tion ognized possible done for the interests Flint Forty delegates to the Flint ing with and Willis and Leo Teachto discuss the situanine was pointed to report Wednesday Eli Rosenblum presided and discussion was held. promised that they are and will do legislation.
Name 58 of conservators for Michigan banks nounced by Reichert banking at Lansing following today's session the governor's commission. In majority the the which the they will take are They Cheboygan State Savings bank Cheboygan, Fred Haut: John First State bank, Hillsdale, Sparta State bank. State bank. Owosso, Kenneth Crawford Traverse City bank City, Bank Whitehall George Covell State B. Cedar Springs State Cedar Springs Herbert Wheeler: Ludington State bank Ludington, Zook, Riverdale Fred bank, Metamora Savings bank Metamora Downer conning State State Bank Niles, Niles, Thomas Yale State Guy E. Beard State of Coswell, Melvin City Richards: Citizens Savings Frank Coward Clarkston State D. King: First State Bank Mendon, Rogge First Savings Constantine Estes Brothers Centerville D. State Bates: State ings Bank of First Bank of legan, Allegan. Van Tyle: State bank, John First State Savings bank, Lyons: State Savings bank, StanStarks: Birch Run State bank, Birch Run. Herbert Walter; First Bank Kingsley, Kingsley, Carl Brown. Pinney State bank City. H. Pinney; State Bank Harbor Harbor John Beach, Marysville Savings bank Marysville, John Barron: White Farmers M. Spring port Savings bank. Spring Allen sula bank. Ispheming, HandSavings Flint Union Industrial and Savings bank, Flint, Mark Wilson: First State South Haven, Haaften; Farmers and Merchants
