Article Text
READY UNDER NEW RULING The national edict of President Roosevelt, closing the banks of the Nation, complicates the situation of the local bank. The change in the Washington state bank law, with the legislature still in session, prevents any decisive plans being made, The new situation appears to make the signing of agreements of depositors unnecessary. The bank under present banking laws, may proceed to do regular banking business with new deposits, and to liquidate the ample resources for the benefit of depositors as quickly as possible. The bank is operating upon six months holiday plan, granted by the state department of banking. This may be extended six months longer if necessary. In discussing the service of the Pioneer State Bank to the community, the following comes from the bank officials: The bank is open for making change. Access may be had to safety posit boxes. New accounts may be opened and deposits made subject to the following regulations. (a) Deposits received will be kept separate from other assets of the bank. (b) No loans or investments will be made. (c) Deposits will be withdrawable any time, and will be subject to check. The Pioneer State Bank started to take in new deposits Tuesday. That day over eleven hundred dollars in deposits went over the counter. This money will be checked against freely, as desired, the capital amount being retained in its entirety, as per state law.