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for the bank to resume operations, after reorganization.The Press feels that any business failure is a bad thing for any town or community. It has always advocat* ed community loyalty, believing that it pays to look after home interests first, and we believe that if we are true to ourselves that we will make an effort to aid in opening up the Security Bank. We will not necessarily lose any time in getting our money under our suggestion, as it will be a year before we get any results and we all know that when a business gets into the hands of a receiver that it costs money- Why not get the depositors together and talk the matter over?The bank is now in charge of D. W. Ernst of Dos Moines who is State Examiner for closed banks. A receiver must be appointed even though a reorganization is effected. Mr, Ernst stated in an interview this momnig that the State Banking Department would cooperate in every way to effect a reorganization.The remainder of the week will be renuired to get the various^ technicalities out of the way, but it is thot that early next week the bank would be open to receive any payments from borrowers and to give depositors a chance to check up on their balances.
Newspaper Details
Pella Press
Pella, Iowa, US
Tue, Oct 20, 1931
Page 2
Full Page
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Anonymous
USA 30 May 2025
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