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BANKING DEPARTMENT IS IN CHARGE OF FARMERS STATE Depositors not Likely to Lose Penny, According to Evan Adam, the Cashier. The Farmers State Bank of Dunlap which was voluntarily closed and placed in the hands of the State Banking department yesterday, pendthe appointment of receiver, remains in charge of Dick Wilson, examiner. Frozen assets, coupled with sistent rumors of the institution's condition, the latter leading to the withdrawal of deposits the rate of $350 day in recent weeks, contributed to the director's decision to make voluntary assignment. expect out stockholders double liability to take care of any the payment of hundred cents on the dollar to depositors," stated Evan Adams, cashier, last night. The Farmer's State bank really suspended business Saturday. Approximately $7,000 in deposits received on that day was entered in separate cash fund and returned to the depositors yesterday when the bank failed to open its doors. Directors of the Farmer's State were in session with those of the Guaranty State bank most of the day Saturday attempting to agree upon satisfactory consolidation agreement.. The Farmers has loans and discounts of $89,000. understood its directors offered to accept the amount of its stock and surplusown frozen assets and endorse all other over to the paper Guaranty at par and accrued interest if the latter would to consoliagree dation and single bank for the town. Suspension of payment by the involves approximately deposits. When the last bank statewas called for on March 23, the had deposits of $81,349.41. The $70,000 temporarily tied stitutes about half the business capital of other firms in Dunlap. but is not believed any of them will fer result of the closing yesterday. The Farmers State is the oldest banking institution in Dunlap. Organized in 1884 it financed the community through many years of panic and crop failures and remained financially sound until the war slump. weathered the first shock of disintegration of values which swept many Kansas banks into insolvency, but could not get back on stable foundation in community too small for two banking institutions. At one time prior to the war, the Farmer's State bank held the record of (Continued on
