The weekly tribune., 1893-08-25
FIRST MAY RESUME.
A Fair Proposition Will Be Made
to the Stockholders and
DrpOsitOrs.
The Resumption of Tlis Bank Would
BE of Untold Advantag"
HIRE.

| At meeting 81 the resident stock
holders of tb, First National bank of
this city, he'd on Thursday, it was de-
cided to make vigorous effort to put
the institution in shape to resume busi-
ness at 81 early date.
Everybody knows how great a loss and
embarrassment the suspension Of this
barK has been to this community. and
there is not a man in business in the
town or country who does not say, God
speed the day when it shall again open
its doors" IL it ever erred in any re-
spect as banking institution it was in
the direction Of being too liberal anG
lenient with it's customers: but it was
always perfectly solvent and had such
ample resources that it feared nothing
Today, il it could realize on its assets,
it could readily pay 53 for every one of
its liability, but it was forced to close by
the general stringency, and not through
any fault Of it's officers or directors.
1t would be difficult to oyerestimate
the advantages which must accrue at
once to Great Falls and the surrounding
country from the resumption of this
bank. AS things now stand the resources
of scores of business men are tied up
with the bar lis affairs. and it will be
many months before it can help itself or
its friends if i'll affairs are left to the long
and tedious course of litigation through
the receiver. This process is one to be
avoided If possible, and it is devoutly to
be hoped that the plan Of the resident
stockholders, which will soon be sub
mitted, will be carried out with the least
possible delay.
One of the principal drawbacks Of the
slow liquidation is the fact that all the
funds realized on the assets of the bank
muss be forwarded to Washington to be
disbursed in dividends through the
comptroller of the currency with all the
red tape and circumlocution which that
implies. This means that hundreds of
thousands of dollars will be taken out of
circulation in this city and the surround
ing country and kept out for an indeti-
mite period-perhaps for two or three
years.
Resumption will obviate this difficulty
anu put new DlOOu INTO tEe arteries OF
local trade AS one man the depositors
and shareholders should stand together,
determined at all hazards to accomplish
this important end. 1t will mean large
gains for all who are intercstcd; it will
mean the renewal of confidence and ac-
commodation; it will give new life and
spirit to every branch OF industry and en-
terprise and cause every sensible man in
northern Montana to rejoice.
The report Of the receiver. Gold r.
Curtis, to the comptroller shows the
assets of the bank, including stoclihold-
ers' liabilities, to be @l,311. .l4O. white the
total liabilities are 57Gl .:}J7. Tne propo-
sition to all concerned is that they accept
nstallment time certificates. and aid the
bank to realize sufficient funds to satisfy
the comptroller Of the banks ability to
transact the usual business. Amounts
due depositors will then be paid should
this arrangement succeed. in five equal
installments payable in l.. II, Is, y and
II months from Aug |. 1893, or earlier if
the institution can realize Oh assets.
This plan is similar to the one adopted
in Colorado and other states. and has
proved very successful in enabling the
resumption of financial institutions
which, like the FIRST National. the public
hardly knows how to get along without.
There would seem every reason to be-
lieve that all depositors and stock
holders will be only too GLAD TO agree to
this plan.