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REGARDED AS BAR BANK Distribution of Assets, Intended for Reorganized Institution, Is Begun. (Courier Special Service) Clutier. Ia., Dec. dividend of 35 per cent by the closed Farmers State bank Clutier has been ordered by the state department. New Bank Barred? While no statement made from the state department banking regard to its decision as to the granting of charter for the posed new People's State bank. which was to taken over the paper of closed bank. the dividend indicates that the institution will continue in receivership for The total to be distributed The net deposits the bank are after offsets were made against notes and safety deposit box rentais. The total thus deducted from the posits as offsets before the dividend was computed was $12,212.13 Majority to Clutier People. There 464 depositors will share in the distribution. Mr. Spalla, receiver charge. estimates that $60,000 of the dividend will go into the hands of people living in Cluand vicinity Tama which had in public deposit in Clutier bank. will ceiver and about $12,000 goes depositors living at disSeveral Clutier men interested in the reorganization of Farmers State bank made final appeal to state banking department Des Moines last asking that the charter for the new bank be granted The Clutier men returned without much encouragement, altho promise was that the matter would be further Talk Cash Organization. There attempt at Clutier to organize new bank with capital stock and surplus subscriptions payable cash, entirely vorced the closed Many think however, that the will not be over, and that tier will remain one bank town for many years.
