Bank of Hammond (Hammond, IN)

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BANK REPORT AS TO OPENING PREMATURE

No Definite Plans Perfected to Reopen State Bank of Hammond

Published reports that the State Bank of Hammond is to be reopened Feb. 1, were branded as premature and unfounded by Theodore Moor, cashier, this morning.

He said no definite plans have been perfected yet to reopen the institution and that just as soon as they are, they will be released officially by Anton Tapper, president of the institution.

The bank was closed by order of the board of directors on Jan. 2 when the Hammond National Bank and Trust company failed. This step was taken by the directors of the State Bank of Hammond to conserve assets.

The reported at the time that in their opinion the State Bank of Hammond was solvent and that steps would be taken immediately to reopen the bank.

According to published reports, Thomas D. Barr, of Indianapolis, deputy state banking commissioner, has approved the reopening plan.

This announcement followed the release of the report which the appraisers, L. R. Hutchinson and John Rohde, of Hammond, had made. The appraisal reported the bank to be in sound condition at the time of closing.

President Tapper and Mr. Moor are declared to have raised $150,000 to fortify the bank when it is reopened, but Mr. Moor refused to comment on this today.

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BANK REPORT AS TO OPENING PREMATURE

No Definite Plans Perfected to Reopen State Bank of Hammond

Published reports that the State Bank of Hammond is to be reopened Feb. 1, were branded as premature and unfounded by Theodore Moor, cashier, this morning.

He said no definite plans have been perfected yet to reopen the institution and that just as soon as they are, they will be released officially by Anton Tapper, president of the institution.

The bank was closed by order of the board of directors on Jan. 2 when the Hammond National Bank and Trust company failed. This step was taken by the directors of the State Bank of Hammond to conserve assets.

The reported at the time that in their opinion the State Bank of Hammond was solvent and that steps would be taken immediately to reopen the bank.

According to published reports, Thomas D. Barr, of Indianapolis, deputy state banking commissioner, has approved the reopening plan.

This announcement followed the release of the report which the appraisers, L. R. Hutchinson and John Rohde, of Hammond, had made. The appraisal reported the bank to be in sound condition at the time of closing.

President Tapper and Mr. Moor are declared to have raised $150,000 to fortify the bank when it is reopened, but Mr. Moor refused to comment on this today.

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BANK REPORT AS TO OPENING PREMATURE

No Definite Plans Perfected to Reopen State Bank of Hammond

Published reports that the State Bank of Hammond is to be reopened Feb. 1, were branded as premature and unfounded by Theodore Moor, cashier, this morning.

He said no definite plans have been perfected yet to reopen the institution and that just as soon as they are, they will be released officially by Anton Tapper, president of the institution.

The bank was closed by order of the board of directors on Jan. 2 when the Hammond National Bank and Trust company failed. This step was taken by the directors of the State Bank of Hammond to conserve assets.

The reported at the time that in their opinion the State Bank of Hammond was solvent and that steps would be taken immediately to reopen the bank.

According to published reports, Thomas D. Barr, of Indianapolis, deputy state banking commissioner, has approved the reopening plan.

This announcement followed the release of the report which the appraisers, L. R. Hutchinson and John L. Rohde, of Hammond, had made. The appraisal reported the bank to be in sound condition at the time of closing.

President Tapper and Mr. Moor are declared to have raised $150,000 to fortify the bank when it is reopened, but Mr. Moor refused to comment on this today.

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BANK REPORT AS TO OPENING PREMATURE

No Definite Plans Perfected to Reopen State Bank of Hammond

Published reports that the State Bank of Hammond is to be reopened Feb. 1, were branded as premature and unfounded by Theodore Moor, cashier, this morning.

He said no definite plans have been perfected yet to reopen the institution and that just as soon as they are, they will be released officially by Anton Tapper, president of the institution.

The bank was closed by order of the board of directors on Jan. 2 when the Hammond National Bank and Trust company failed. This step was taken by the directors of the State Bank of Hammond to conserve assets.

The reported at the time that in their opinion the State Bank of Hammond was solvent and that steps would be taken immediately to reopen the bank.

According to published reports, Thomas D. Barr, of Indianapolis, deputy state banking commissioner, has approved the reopening plan.

This announcement followed the release of the report which the appraisers, L. R. Hutchinson and John L. Rohde, of Hammond, had made. The appraisal reported the bank to be in sound condition at the time of closing.

President Tapper and Mr. Moor are declared to have raised $150,000 to fortify the bank when it is reopened, but Mr. Moor refused to comment on this today.

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BANK REPORT AS TO OPENING PREMATURE

No Definite Plans Perfected to Reopen State Bank of Hammond

Published reports that the State Bank of Hammond is to be reopened Feb. 1, were branded as premature and unfounded by Theodore Moor, cashier, this morning.

He said no definite plans have been perfected yet to reopen the institution and that just as soon as they are, they will be released officially by Anton Tapper, president of the institution.

The bank was closed by order of the board of directors on Jan. 2 when the Hammond National Bank and Trust company failed. This step was taken by the directors of the State Bank of Hammond to conserve assets.

The reported at the time that in their opinion the State Bank of Hammond was solvent and that steps would be taken immediately to reopen the bank.

According to published reports, Thomas D. Barr, of Indianapolis, deputy state banking commissioner, has approved the reopening plan.

This announcement followed the release of the report which the appraisers, L. R. Hutchinson and John J. Rohde, of Hammond, had made. The appraisal reported the bank to be in sound condition at the time of closing.

President Tapper and Mr. Moor are declared to have raised $150,000 to fortify the bank when it is reopened, but Mr. Moor refused to comment on this today.

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BANK AT HAMMOND TO REOPEN DOORS

HAMMOND, Ind. Jan. State Bank Hammond, which closed January after heavy the tion to for business today The bank was turned back to its officers Saturday Thomas bank examiner, and Barr, state Theodore Moore, cashier, was named liquidating agent. Barr said the bank was in such condition as to permit its reopen-

The bank will be open for all today, the receiving and paying deposits, Anthon Tapper, president. The date for of be announced soon, Tapper said.

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MONEY USED FOR DIVIDEND

Any shareholder who fails to do either of these two things, will be forced to pay the legal rate of interest, plus the par value of the stock, Mr. Nattkemper said.

This money will be used to pay a dividend to depositors. Mr. Nattkemper declared he is not in a position yet to ascertain when a dividend will be authorized.

The bank failed January 2. Its failure caused the directors of the State Bank of Hammond to close that institution. The Hammond National and the State Bank of Hammond were the last two remaining banking institutions in the city. Hammond has since been without banking facilities.

Attempts now are being made to open a new bank in the city, but nothing definite has materialized as yet.

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MERCHANTS HOLD CONFERENCE OVER A HAMMOND BANK

A group of Hammond merchants held a private conference last night to discuss plans for opening a new bank in the city. It is understood that Roland Fox, operator of a men's furnishing store, was authorized to accept applications from local merchants for capital stock in the bank.

Mr. Fox was called, but he referred the reporter to Bruce Vernon, plant manager of Lever Brothers company in North Hammond. Mr. Vernon's secretary reported that he was out of town for the day.

If the plan of the merchants is successful, it is reported that they will ask industrialists of the city to cooperate with them in opening a new bank.

The plans of still another group to open a new bank in the city have been completed, but they now are awaiting the drafting of a favorable lease for banking headquarters. This group includes two or three local men and several down-state capitalists.

Officers of the State Bank of Hammond still are trying to reopen that institution. They are awaiting word from the Chicago office of the Federal Reconstruction Finance corporation on their application for a loan fo $200,000.

Theodore Moor, former cashier of the bank who is now serving as liquidating agent, reported recently that the Chicago officers of the corporation will meet soon with a committee of the bank and that the loan will be discussed at length at that time. In event it is forthcoming the State Bank of Hammond will reopen.

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MERCHANTS HOLD CONFERENCE OVER A HAMMOND BANK

A group of Hammond merchants held a private conference last night to discuss plans for opening a new bank in the city. It is understood that Roland Fox, operator of a men's furnishing store, was authorized to accept applications from local merchants for capital stock in the bank.

Mr. Fox was called, but he referred the reporter to Bruce Vernon, plant manager of Lever Brothers company in North Hammond. Mr. Vernon's secretary reported that he was out of town for the day.

If the plan of the merchants is successful, it is reported that they will ask industrialists of the city to cooperate with them in opening a new bank.

The plans of still another group to open a new bank in the city have been completed, but they now are awaiting the drafting of a favorable lease for banking headquarters. This group includes two or three local men and several down-state capitalists.

Officers of the State Bank of Hammond still are trying to reopen that institution. They are awaiting word from the Chicago office of the Federal Reconstruction Finance corporation on their application for a loan fo $200,000.

Theodore Moor, former cashier of the bank who is now serving as liquidating agent, reported recently that the Chicago officers of the corporation will meet soon with a committee of the bank and that the loan will be discussed at length at that time. In event it is forthcoming the State Bank of Hammond will reopen.

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STATE BANK REPORTS ARE PREMATURE

Liquidating Agent of Bank Silent On Plans for Institution

Reports that the suspended State Bank of Hammond would opened characterized "premature" today Theodore Moor, former cashier of the tution, who now serving uidating nothing to at this time," Mr. Moor declared. When asked not he had made application to the state charter board for charter, Moor repeated that he had nothing present. will release an official nouncement definite transpires," Mr. Moor said. This bank closed January 1932, time that the Hammond National Bank company suspended Mr. Moor immediately appointed liquidating agent for Institution by He been that time addition to erating currency exchange in the banking quarters. Last summer applied to the Finance loan $200,000 which reopen the Lengthy negotiations followed. but nothing defimaterialized. reported that curity for loan than the bank able to furnish. Shortly after the institution was placed liquidation, state banking declared it in good shape and that the departwould in any plan to open the Anton Tapper was president of the State Bank until he affiliated the Hammond National Bank Trust company its president.

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MOOR NAMED DEFENDANT

Theodore Moor, cashier of the suspended State Bank of Hammond action for $1,500 District receiver for defunct First National Bank of Gary Moor being sued for liability shares stock the institution $300 interest. Force, filed the action for Receiver

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FINDS 'HOLIDAY' IS

Closing of Banks Has Humorous Side; Cities, Merchants Devise Scrip Systems

CHICAGO, March splashes good humor America's bank holiday tonight, belying gloomy fears expressed before the holiday general. In many communities the atmosphere that English bank holiday than of financial moratorium. street cars, offices and in feeling that drew strangers Quickly discovered that the holiday had lighter, instances, comic side. Folks small towns and big city alike small interruption life. Interest turned situations that Oklahoma where belligerent (Alfalfa Murray calling out his militia time force recalcitrant bankers to close their institutions.

BANK OPENS

Cities where few months the had been darkest overnight the brightest the country Hammond, where there had no bank months, the Calumet State today for for the first despite the crisis which closed large banks great financial The Chicago Board of Trade which had not been completely closed since trading in 1848 announced that would be closed today. But the hours trade had very far directors and decided caron the of years by lowing trading in cash grains usual. Michigan citizens grinned when the of rest of the the first State call bank holiday citizens since realized things went much usual banks open Due situation consibetter than in other parts of the FIRMS ADAPT SELVES Business quickly adapted themselves the temporary stringency cash Marshall Field had ample supply cash make change for customers. Other stores small change asking customers cooperate giving the exact change. Standard Oil Indiana continued accept cash checks usual. cash and other obchecks. Milwaukee ministers agreed that they would not collection plates until crisis over. several were cancelled postponed because short of cash.

American Tourists In Paris Are Broke March branches New York banks fused to cash checks dollars but remained open for businoon announced they expected open Monday. fact banks were open did much alleviate French fears that the United States termined the gold standard. The decision not cash lar checks dollar credit. however, American tourists and residents without immediate funds.

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until militia forced it to close.

Cities where a few months ago the situation had been darkest became overnight the brightest spots in the country.

At Hammond, Ind., where there had been no bank for months, the new Calumet State Bank opened today for business for the first time. The Calumet State took its place beside the Mercantile Bank, open for business today despite the crisis.

Michigan's Turn to Grin

Michigan citizens grinned when the predicament of the rest of the nation was revealed. Michigan was the first state to call a bank holiday, and citizens had learned that things went on much as usual whether banks were open or not.

Business firms quickly adapted themselves to the temporary stringency of cash. Marshall Field and Company, Chicago's largest department store, had an ample supply of cash for change. Other stores asked customers to co-operate by giving the exact change.

The Standard Oil Company of Indiana continued to accept cash and checks as usual, met payrolls in cash and other obligations with checks.

Church Collections Stop

In Milwaukee ministers agreed they would not pass collection plates until the crisis was over. In several cities lectures were postponed because citizens were short of cash.

Employes in Chicago and Milwaukee received pay—in some instances long overdue—but payment was by check, and few places were cashing checks.

ment on demand in cash and final credit therefor to our bank account."

3—Accept United States Treasury checks, money orders, city and state checks on account unless local situation dictates otherwise.

4—Allow no refunds in cash unless proof positive cash was originally paid; if customers paid by check allow refund only by check.

5—Mark cash sales made during moratorium to indicate whether paid by check or actual currency.

6—Have collectors carry two pads of receipts—one for cash payments and one for checks.

7—Where old and new accounts in banks are set up, make customers give proof regarding checks on new accounts.

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RESTORED CONFIDENCE REPORTED BY

Deposits Exceed WithdrawBy Ratio of 2 to 5 to 1

Restored confidence in the soundness of Lake county's banking institutions was reported by executives this morning in recounting the business turn-over yesterday-the first day of their reopening following a nine-day moratorium. Deposits, ranging from four times in more than were reported by each institution. In every Instance, the bankers stated that confidence W. W. president the Gary State bank. which is largest banking institution in Lake county. reflected the general tenor of statements the remarks: NEARLY NIL could not for better day. Our deposits approximated $400,000 and our in almost nil. Customers an excellent of mind. cheerful contrasted their attitude just before the declared. An even more optimistic ment came from G. Elam, president and cashier of the Mercantile Bank of Hammond. seen better spirit in my 20 years of banking experience than that which prevailed yesterday in our Mr. said. "In my opinion, fear has been routed and confidence stored. We look forward to the future optimism." Mr. Elam said deposits in his He excess of Theodore cashier of the Calumet State Bank of reported deposits withdrawals by five tainly surprised by the markable accorded bank by depositors and customers alike. letter day in the history of Hammond and fairly that (Continued on Page

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Lake OMINOUS Co. Banks Over Business Received Happy WARNING KIDNAPED CHILD BACK UNHARMED CRACK PENNSY RESTORED ECONOMY FLYER IS PARTLY CONFIDENCE BILL NEAR DERAILEDINGARY BY VICTIM REPORTED ITS FINAL

Deposits Exceed Withdrawals By Ratio of 2 to 5 to 1

Restored confidence in the soundness of Lake county's banking institutions was reported by executives this morning in recounting the business turn-over yesterday-the first day of their reopening following a nine-day moratorium. Deposits, ranging from to four times withdrawals, and, in one case, more than that. were reported by each institution. In every the bankers stated that restored. W. W. Gasser, president of the Gary State which now the largest in Lake reflected the tenor of statements the NEARLY NIL could not for better day. Our mated $400,000 our comparison, almost nil tomers were in an excellent of mind. They hopeful, contrasted their dark attitude just before the declared. An even more optimistic statement came from Elam, vice president cashier of the Merof better spirit in my years of experience than that which prevailed yesterday institution," Mr. Elam said. opinion, fear been routed and confidence stored. We forward to the future considerable optimism." Elam said deposits his $50,000 He continued excess of deposits withdrawals. Theodore Moor, cashier of the Calumet State Bank reported deposits drawals by to tainly surprised by the markable response accorded bank depositors and customers red letter day in the history of Hammond and indicates, fairly conclusively, that (Continued Page

Double Fatality Results From South Shore Crash Last Night

Astrology's ominous prophecy to Blair Williams, 35. Chicago, an automobile mechanic, was borne out today as his body and that of a companion, Dorland S. McEvers, 34, lie in Hammond morgue, victims of a grade crossing crash at Calumet avenue and the South Shore interurban tracks in Hammond last night. Both died being rushed police shortly after they were riding crashed through the lowered gates and struck westbound The bodies found about the point intersect those of the railroad. The totally demolished, carried along the 500 by the impact of the colliMotorman H. Ireland, of told authorities the safety shut the impact of the Conductor Michigan City, verified this

ARNING PAPER queer twist fate first that police came across person when on which Sign of Taurus. Your March are 20, 29. adverse days for are and # Take no chances the days. Favorable days to start things Under date small in terday was March 15, the of according Coroner Andrew Hofmann, the result crushed skull, while panion succumbed compression is of not the their bodies being after viewing the demolished chine."

POLICE PUZZLED to how the happened which, it belonged to H. of LaGrange, Continued Page

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Myen bank) receiver, of Hashmond disposing of its real estate, will the speaker Friday evening at o'clock the Chamber of ComThe Porter County Estate Board having Mr. Real and to the Trescott to Valparaiso, interested of the best considered the Calumet Disinformed men in the actual conditions trict on estate. will be "Cal Mr. Trescott's topic District Coming Back," umet will us of though Valthe World's Fair Calumet Disand the entire paraiso trict. Since he has had such direct Bank of Hamtouch Myen failure, in helping mond since its real holdings, dispose of its with authto speak Mr. Schlethe district. throughout the local Board man, president welcome any extends hearty attend citizens meeting.

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HOLMAN MOVES HIS OFFICE

Frank C. Holman, liquidating agent for the defunct State Bank of Hammond, removed his offices from the banking building on Calumet avenue to room 205 of the Lloyd building on Hohman avenue.

The removal was made necessary because the Lincoln National Life Insurance company, which now owns the Calumet avenue property, wishes to use the building for its own purposes.

Mr. Holman will liquidate the bank in the future from his new office.

The use to which the Lincoln National Life Insurance company will put the banking structure on Calumet avenue, was not announced officially this morning, but it is thought the building will be used as Hammond headquarters for the company.

The company now is maintaining an office in the Northern States Life Insurance company building on South Hohman avenue, the property it acquired when it purchased assets of the latter firm.

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HOLMAN MOVES HIS OFFICE

Frank C. Holman, liquidating agent for the defunct State Bank of Hammond, removed his offices from the banking building on Calumet avenue to room 205 of the Lloyd building on Hohman avenue.

The removal was made necessary because the Lincoln National Life Insurance company, which now owns the Calumet avenue property, wishes to use the building for its own purposes.

Mr. Holman will liquidate the bank in the future from his new office.

The use to which the Lincoln National Life Insurance company will put the banking structure on Calumet avenue, was not announced officially this morning, but it is thought the building will be used as Hammond headquarters for the company.

The company now is maintaining an office in the Northern States Life Insurance company building on South Hohman avenue, the property it acquired when it purchased assets of the latter firm.

FINDS NO CASH, TAKES WHISKY

Looking for money and failing to find any, a burglar who broke into the saloon of Victor Siatta at 301 State street, Calumet City, early today escaped with four pints of whisky. Entrance to the place was gained by prying off a screen from a rear window.

In past field days of the Standard Oil Athletic association, thousands of people have flocked to Whiting park to enjoy Labor day. The committee has announced that a bigger and better program is being planned for this year. Further announcements with regard to the program will be made later.

2 TAKEN ON DRUNK DRIVING CHARGES

Two young men were arrested in Calumet City Saturday and Sunday on charges of driving automobiles while drunk.

Frank Bradtke, 21, of 1126 Conkey avenue, Hammond, was arrested Sunday at the intersection of Pulaski road and Burnham avenue. He was also charged with nonstopping.

Thomas Aqualer, 23, of Gilbert, Ind., was arrested Saturday and was released on a $100 bond, pending a hearing in the police court.

CHARGES CRUELTY, ASKS FOR ALIMONY

Mrs. Veronica Saunders today sought divorce in Hammond superior court from her husband, Virgil, on charges of cruelty.

The plaintiff asks for $7.50 weekly support money for herself and a child now ten months old.

Saunders was charged with striking and cursing his wife on many occasions prior to their separation on May 20. They had been married since 1932.

Attorney Herman Granger filed the complaint for Mrs. Saunders.

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1ST PAYMENT OF $17,000 SPLIT IS STARTED TODAY

Frank C. Holman Liquidating Agent of State Bank Announces Plan

The first payment of the $17,000 dividend which the defunct State Bank of Hammond will distribute among depositors, was started today, Frank C. Holman, liquidating agent, announced this morning.

He said the payment is being made to depositors whose last names begin with the initials from A to H inclusive. Dividend notices to those depositors were placed in the mail early this week, according to Mr. Holman.

He will mail the next batch of notices before the end of this week to depositors whose last names begin with the initials from I to P, inclusive. And next week, he will mail the remainder of the notices.

Mr. Holman requests depositors to wait for their notices before they apply for dividend checks.

The disbursement represents 5 per cent of the depository balance on hand and is the first declared by the bank since it was closed almost four years ago.

It was authorized by the state department of financial institutions, which maintains jurisdiction over liquidation, and it was approved last Monday by Hammond Superior court No. 5. Approximately 4,500 depositors will share in the dis-

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1ST PAYMENT OF $17,000 SPLIT IS STARTED TODAY

Frank C. Holman Liquidating Agent of State Bank Announces Plan

The first payment of the $17,000 dividend which the defunct State Bank of Hammond will distribute among depositors, was started today, Frank C. Holman, liquidating agent, announced this morning.

He said the payment is being made to depositors whose last names begin with the initials from A to H inclusive. Dividend notices to those depositors were placed in the mail early this week, according to Mr. Holman.

He will mail the next batch of notices before the end of this week to depositors whose last names begin with the initials from I to P, inclusive. And next week, he will mail the remainder of the notices.

Mr. Holman requests depositors to wait for their notices before they apply for dividend checks.

The disbursement represents 5 per cent of the depository balance on hand and is the first declared by the bank since it was closed almost four years ago.

It was authorized by the state department of financial institutions, which maintains jurisdiction over liquidation, and it was approved last Monday by Hammond Superior court No. 5. Approximately 4,500 depositors will share in the distribution.

JOHN TOKARZ, F. H. A. FIELD representative, will speak at the meeting of the Franklin D. Roosevelt club tomorrow night in Irving school.

MAYOR MARTIN SAYS HE will think about a liquor board for Hammond only after he has received definite instructions from the state board.

CALUMET CITY PROPERTY owners who fail to pay the first installment of 1933 taxes before Monday, will be assessed a penalty of 4 per cent.

ED KLEIN IS ALMOST WILLING to make a fair bet that Pittsburgh will win the National league pennant, and Cleveland the American league flag.

HAMMOND HIGH BASKETBALL players are still eating frequently as guests of various boosters. They attended another dinner last night.

BOY SCOUTS OF ST. ANDREW'S church, Calumet City, will stage a minstrel show Sunday at the parish hall, 155th place and Freeland avenue.

HARRY WALKER, ARTHUR Brookman and Mack McGaughey are celebrating their simultaneous birthdays tonight. They've rented Long's hall and have invited all their friends.

HAMMOND BOY SCOUTS cleared about $250 from their recent "1935 Show Boat"; the money will be used for Scout activities. Approximately 3,300 saw the production during the three nights.

SIXTY-FIVE MEMBERS AND their wives and husbands of the Purdue Alumni club of the Calumet region enjoyed a pot-luck dinner, cards, entertainment and dancing at the Beth-El solarium Tuesday night.

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1ST PAYMENT OF $17,000 SPLIT IS STARTED TODAY

Frank C. Holman Liquidating Agent of State Bank Announces Plan

The first payment of the $17,000 dividend which the defunct State Bank of Hammond will distribute among depositors, was started today, Frank C. Holman, liquidating agent, announced this morning.

He said the payment is being made to depositors whose last names begin with the initials from A to H inclusive. Dividend notices to those depositors were placed in the mail early this week, according to Mr. Holman.

He will mail the next batch of notices before the end of this week to depositors whose last names begin with the initials from I to P, inclusive. And next week, he will mail the remainder of the notices.

Mr. Holman requests depositors to wait for their notices before they apply for dividend checks.

The disbursement represents 5 per cent of the depository balance on hand and is the first declared by the bank since it was closed almost four years ago.

It was authorized by the state department of financial institutions, which maintains jurisdiction over liquidation, and it was approved last Monday by Hammond Superior court No. 5. Approximately 4,500 depositors will share in the distribution.

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1ST PAYMENT OF $17,000 SPLIT IS STARTED TODAY

Frank C. Holman Liquidating Agent of State Bank Announces Plan

The first payment of the $17,000 dividend which the defunct State Bank of Hammond will distribute among depositors, was started today, Frank C. Holman, liquidating agent, announced this morning.

He said the payment is being made to depositors whose last names begin with the initials from A to H inclusive. Dividend notices to those depositors were placed in the mail early this week, according to Mr. Holman.

He will mail the next batch of notices before the end of this week to depositors whose last names begin with the initials from I to P, inclusive. And next week, he will mail the remainder of the notices.

Mr. Holman requests depositors to wait for their notices before they apply for dividend checks.

The disbursement represents 5 per cent of the depository balance on hand and is the first declared by the bank since it was closed almost four years ago.

It was authorized by the state department of financial institutions, which maintains jurisdiction over liquidation, and it was approved last Monday by Hammond Superior court No. 5. Approximately 4,500 depositors will share in the distribution.