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FT. SMITH MAN MAY ESTABLISH NATIONAL BANK IN HARTSHORNE OFFER ACCEPTED It was announced from Harts horne, Thursday morning, that the proposition of Mr. Nakdimon, for the establishment of bank at Hartshorne had been accepted at meeting of stockholders and depositors the old First State Bank, night, and that he would come over immediately to take the matter up in detail. The plan, briefis for the organization national bank, with $25,000 capital stock, Mr. Nakdimon, to take the larger share of the stock. The new bank would take over and liquidate the old bank on the best possible basis. Reports from Hartshorne are that the plan most favored by the old bank That Hartshorne may come to financial surface again with first class bank, the First State Bank that recently closed its doors there, indicated in ports that Nakdimon, of Smith, one of the most powerful nancial figures is Western Arkansas, interested in the situation there for and has promised to come conference with and depsitors of the failed bank, this As authoritatively rumored, the Nakdimon plan would be to organize national bank, with some of the old depositors of the First State Bank other Hartshorne business men inter ested as holders of the new bank, but with the Ft. Smith man ing the major block of the stock. It that the plan further would be for the to take the assets of the failed bank, working effec tive liquidation plan on basis, but not flatly agreeing to sume specific indebtedness of the old institution. It believed by many that this would be the mast salutary plan for salvaging the former bank, ing to acknowledged ability Nakidmon as banker and general business man and his established backing His tailed knowledge of handling securi ties this of the country urged, far toward go successful liquidation of the state bank assets Commissioner Reports In the meantime, the bank commissioners, W Shofner and H. Kelly, have filed their report the bank examination made by them. the closing of the instituJanuary 13. The detailed port, 85 closely pages, filed this week in the office of the court clerk report shows that the condi tion of the as indicated by the books the on January 13, revealed total assets of $896, (Contnued to Back Page)
