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ing approximately $307,000.00, was paid from accumulated funds, plus a loan of $153,000.00 from the Reconstruction Finance Corporation. The obligation to the Reconstruction Finance Corporation has subsequently been entirely repaid, there being a further accumulation of approximately $21,000.00, which amount is being supplemented by another Reconstruction Finance Corporation loan, causing the next dividend payment of 12 1/2% to be approximately $77,000.00.
Prior to the Receiver taking charge of the Carrollton National bank, Mr. John J. Howe, Conservator, had necessarily paid off Bills Payable and Secured Deposits in the approximate amount of $115,000.00.
The Depositors' Committee of the Carrollton National bank consists of Messrs. C. M. Dean, R. H. Froman, C. A. Hill, R. T. Butts, W. O. Pearce, J. T. Mosely and R. W. Good.
Mr. James H. Newman was designated as general counsel for the Receiver, by the Comptroller of the Currency, commencing with January, 1935.
The Receiver makes known that there are a number of accounts, aggregating over $3,700.00, for which claims have not been filed.
The Receiver and his associates also take this opportunity to call to the attention of the depositors and the community that the Receivership owns fifteen improved farms and various parcels of improved city property, and there are other farms which are directly or indirectly under the Receiver's control. Efforts will be continuously made to dispose of such farms at favorable and comparative values. Depositors can be of some assistance by referring prospective farm and other property purchasers to the Receiver's office.
The Receiver stated that, as of March 31, 1935, there were still $388,274.80 of assets, as to book values, to be collected or sold. As soon as the second dividend has been disbursed arrangements will be made to bring forth further economies in the administration of the Receivership.