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ATHOL NATIONAL BANK ASSETS TO BE SOLD Special Dispatch to The Boston, Nov. Robert of the Athol National was leave to $938,147 assets of the bank, consisting of free assets and securities pledged handed down Judge Elisha H. Brewster, in the federal court here today. The decree made on petition filed by Greenwood, who stated that had been to proceed with the sale by the subject to the court's approval.
ATHOL PAYMENT OF SECOND BANK DIVIDEND STARTS About $600,000 Being Distributed to Depositors in 25 Per Cent Shares Athol, Dec. Rowe, receiver the Millers River bank, and Robert ceiver the Athol this that per cent would ately proved claims. Payment started both banks tonight. Checks cent dividend being delivered upon the surrender by positors of books in bank. The stated that this dend made the untiring effort and work the the trust, aid the treasury department, the insolvent and the Reconstruction ators David Walsh and Marcus Coolidge helpful, stated, in making this dividend possiTomorrow and Friday obtained either bank for funds Millers bank from and on Saturday from after that either Rowe's office on change street the Athol National This, the second 25 per cent dividend paid, $600,000 same the first dividend.
ATHOL PAYMENT OF SECOND BANK DIVIDEND STARTS About $600,000 Being Distributed to Depositors in 25 Per Cent Shares Athol, Dec. Edward Rowe, ceiver Millers River National bank, and Robert receiver the Athol National bank nounced this that per cent dividend would be paid immediately depositors have proved claims. Payment started banks tonight. for being delivered surrender positors bank books either stated divimade possible this untiring effort work the employes trust, aid treasury department, insolvent national and the Reators David Walsh and Coolidge helpful, stated, making this possi- Tomorrow and Friday may be obtained at either the Nationbank funds from Millers River National bank for from and on from that either Receiver change street or the Athol bank. This, the second 25 cent dividend paid, amounts about ,the same as the first dividend.
TWO ATHOL BANKS GRANT DIVIDENDS 25 Percent Payments Are Allowed by Receivers Special Dispatch to the Globe ATHOL, Dec 20-C. Edward Rowe, receiver of the Millers River National Bank, and Robert E. Greenwood, receiver of the Athol National Bank, announced late this afternoon that a 25-percent dividend will be paid immediately to all depositors who have proved their claims. Payment was started at both banks tonight. Checks for a 25-percent dividend will be delivered upon the surrender by depositors of bankbooks in either bank. The receivers state that this divident was made possible because of the untiring effort of the employes of the banks, the aid of the Treasury Department, the division of insolvent national banks and the Reconstruction Finance Both Senators David I. Walsh and Marcus A. Coolidge were also helpful, it was stated, in making this divi- dend possible. On Friday dividends may be obtained at either the First National Bank for funds from the Millers River and at the Athol National Bank for those from that institution from 9 m to 9 P m and on Saturday from a m to 6 p m. After that payment will be made at either Receiver Rowe's office on Exchange st or at the Athol National Bank. This is the second 25-percent dividend to be paid and amounts to about $600,000, the same as the first dividend.
ATHOL BANK $50,000 ON THIRD DIVIDEND Athol, Dec. $50,000 paid out yesterday by the Athol third idend since the ago. today other for per each. The was paid at the First National bank here. Athol, Dec. 23 Athol is one the place the committee This asked honey, letter Dana Higgins, ERA administraAthol. some locally in the housing plan. yesterday on cent dividend Athol tional bank by Edward Rowe and amounts to This go to all positors proved their claims, will which paid this closed institution, there have cent dividends paid. Rowe states that there are some 598 credifailed prove their claims, they will collect and these their claims with the bank. This dividend comes handy time for those receive spur business quite little locally.
ATHOL NATIONAL BANK ALLOWED $300,000 LOAN Third National of Springfield Has $20,000 R. F. C. Preferred Stock Subscriptions Canceled By Will P. Kennedy Special Correspondent of The Republican. Washington, Feb. 6—The Athol National Bank of Athol, Mass., has been authorized a loan of $300,000 at 4 per cent interest by the Reconstruction Finance corporation under section 5 of the reconstruction finance act. Accounting adjustments in December, 1934, resulting in loan authorization previously reported bring to the Middlesex National bank (receiver) of Lowell, Mass., a loan of $20,090.60 at the same rate of interest. The Plymouth County Mortgage Loan company of Brockton, with a loan of $540,000; the Charlestown Mortgage Loan company of Charlestown, with a loan of $625,000; and the Moody-street Mortgage Loan company of Waltham, with a loan of $810,000, all at 4 per cent interest, were some of the mortgage loans companies who were the recipients of the RFC's aid. Authorizations for loans from July 21, 1932, to November 30, 1934, which were withdrawn or canceled in full during December, 1934, no part of the proceeds being disbursed, included the Ames Safety Envelope company of Boston, $6000 canceled; the Mount Bowdoin Fuel company of Dorchester, $5000 canceled; the Gardner Upholstered Furniture company of Gardner, $10,000 canceled; and Cutler & Saleeby, inc., of Springfield, $9000 canceled. The Third National bank of Springfield had $20,000 worth of subscriptions for preferred stock in the RFC canceled.
DIVIDEND FOR CHRISTMAS? The responsibility of withholding money belonging to hundreds of depositors in the closed Athol National bank is a heavy one. Quite apart from the legal liability involved, the unwillingness of debtors of the bank to satisfy their obligations and enable the bank's receiver to return to depositors the money they intrusted to the bank in the belief that it was safe can hardly be understood by anybody endowed with a vestige of humanity. Many of the depositors are in financial straits. Many more are suffering financial hardship. The Daily News adds its voice to that of the receiver in begging that obligations to the bank be satisfied without the necessity of civil action with its attendant cost and embarrassment. Such action will make Christmas a joyous occasion for many.
The responsibility of withholding money belonging to hundreds of depositors in the closed Athol National bank is a heavy one. Quite apart from the legal liability involved, the unwillingness of debtors of the bank to satisfy their obligations and enable the bank's receiver to return to depositors the money they intrusted to the bank in the belief that it was safe can hardly be understood by anybody endowed with a vestige of humanity.