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Federal Reserve Manager Gives Encouraging Advice Apprehension of depositors and directors alike were dispelled Monday night. SO far as the Bank of Ephraim is concerned. when Mr. W. Partner, manager of the Salt Lake City branch of the Federal Reserve Bank. paid the local institution visit and gave assurance that the Ephraim Bank has nothing to worry about so long as they main in good standing with the Federal Reserve system. He said that any amount of currency could be had here within a five-hour notice to forstall any possible run on the bank. Apprehension for the safety of the bank started Monday when the report reached here that the North Sanpete Bank of Mt. Pleasant had failed to open for business that morning, the second Hub City bank to close within less than a week. People from the north end of the county who had money in the local bank grew fearful and panicy and several of them came down and drew out their deposits. Local people, however. maintained full faith in the institution and did not mak the slightest gesture toward run. It was at this point that Mr. Partner came along Monday evening and offi ials of the local bank they have nothing to fear. He said the bank is in perfectly good standing with the Federal Reserve system and that the Federal Reserve will take of all emergencies. Mr. Partner also gave much encouragement for the future of the banking business and left much happler spirit after his visit here.
