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PRINEVILLE BANK ASSETS OFFERED in a hundred years
Public Sale Scheduled for October 19
LOVE like A copy of the list of assets of the great Prineville national bank, which are theirs! to be sold public auction in Prineville on October 19 at o'clock in the afternoon, was received at The Bulletin office today for inspection by the public. H. H. Hall, rein a decade such ceiver of the bank, has given formal ENTERTAINMENT notice of the sale of the remaining assets of the trust The Prineville bank suspended September 1931 and during the THE receivership it has paid all of its preferred and claims in full and 57 cent in dividends on general claims The final divivend will be paid after the remaining assets have been sold The following summary of the opWORLD erations of the comptroller's office with relation to closed banks since early in 1933 was supplied by Hall At the close of the banking holiday there were 1417 national banks, including state banks in the District MOVES of Columbia under the jurisdiction of the comptroller of the currency with deposits of .971,960,000 which did not reopen. This was the most serious problem confronting the comptroller's office The question is ON properly asked: what has happened? There have been reorganized 1051 banks with deposits aggregating $1.758.184.000. and 28 national banks paid their depositors in full the sum of and went out of busiCENTURY ness. There were placed in receivership 302 banks with deposits of $158,417,000 but plans have been approved for 18 of these receivership banks to reopen, which will release additional $10,132,000 This leaves 36 banks in conservatorship, and of these 30 banks with deposits of $41,664,000. have plans approved for reorganization, and SIX banks with deposits of $3,183,000 have disapproved plans These banks may submit approved plans. have received since March 16 1933. in dividends Slightly in excess of 50 per cent has been paid to depositors in receivership Since the establishment of the bureau of the comptroller of the currency, a period of about 70 years, depositors have received 94 cents FOX Picture out of every dollar collected. which is a remarkable record In other MADELEINE words. salaries of receivers, attorney's fees, and all overhead have been paid at a total cost of 6 cents out every dollar collected The comptroller's office has had another important task since the banking holiday in connection with the issuing of preferred stock by national banks The object of issuing preferred stock by the banks is to permit them to hold certain slow assets without foreing collection, well to enable them to extend more liberal credit One thousand seven hundred twenty national banks have preferred stock in the amount of $460,342,800 The reconstruction finance corporation has purchased $392,265,654. while local interests the United States have purchased $68,077,146 There are at the present time 5478 active national banks in the United States with deposits of $20,055,724. 000 The deposits in national banks on June 1933 were