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DEPOSITORS OF MENDOTA BANK GET DIVIDEND Fifty Per Cent of Claims Against Defunct Institution Paid Out Today. Long lines of jubilant depositors gathered in front of the closed National and First National banks in Mendota this afternoon to receive dividend checks totalling $550,000, representing a 50 per cent payment of proven claims on the National bank and 45 per cent on the First National. The dividends were the first paid on the two banks which closed last winter, at the same time that a third bank in the town also went into the hands of a receiver. Urban Tracey, receiver for the National City Bank of Ottawa, was also receiver for the two Mendota banks. Through the cooperation of the people of Mendota the bank receiver, his assistants and the comptroller of the currency at Washington D. C., the large dividends were paid much sooner than had been expected. A loan was obtained from the Reconstruction Finance Corporation, a government financed organization, and this increased the amounts of the first dividends paid today. Efforts are being made in Mendota to reorganize the closed Farmers and Merchants State bank, for which Vincent Ream of Peru is receiver, and on which no dividends have yet been paid. Several months after the three banks closed a new bank, known as the National Bank of Mendota, was opened through the cooperation of the people of the town. Release of more than $500,000 in cash in Mendota will have a substantial effect in reviving business conditions in the town and surrounding community.