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GUARANTY FUND MEMBERS HERE Commission Members and State Banking Superintendent Confer on Tea Bank Suit Members of the state guaranty fund commission and the superintendent of banks, Fred R. Smith, were in Sioux Falls Saturday afternoon in conference with local attorneys and others in connection with their defense in the suit brought last week by the depositors of the Farmers Savings bank of Tea. No announcement was made as to their action to resist the suit, but this will be made known at the time of the hearing on the restraining order to be held at Parker April 6, if not sooner. Depositors of the Tea bank which was one of the first in the state to close, are seeking payment of their deposits from the state guaranty fund total at the time their bank closed instead of having the funds pro-rated on all outstanding certificates. The commission gathered in Mitchell Saturday morning but came to Sioux Falls after a brief session because matters which they wanted to take care of were in this vicinity. Members of the commission are H. R. Kibbee, Mitchell, D. H. Lightner, Aberdeen, and G. A. McGarrough, Dupree.
