The Birmingham age-herald., 1916-07-19

third mortgage, at the present rate of Birmingham real estate the building would be sacrificed. The depositors stood for holding on to the building for period of a few years rather than let it be sold at lower rate than the value of it.
 After summing up the situation MT. Crawford undertook to answer any question asked from the audience and number of the depositors took ad- vantage of the offer for information.
 QUESTIONS AND ANSWERS
 Following are some of the questions and answers:
 Q.-"Will the open deposit accounts be paid, and if so, what per cent will be paid, and when?' A.-"Yes, I think so MT. Coleman, MT. Walkers attor- ney, has large number of claims in the courts for collection now, while 1 am working hard each day in an att tempt to collect others. Some of these we are collecting, while there are others who are slow in paying How ever, as early as we get the funds pay ments will be made Just what per cent cannot say"
 Q.--"What shape is the S465,000 in- debtedness of the Jefferson Building & Realty company to the bank?" A ''rhe bank is secured by a third mort gage"
 Q-"Were all the outstanding loans made by the old bank at the time when the Jefferson County bank took charger A-"Most of the loans were made by the new bank, but there was something like s400,000 of loans taken over from the old bank"
 O. .Is the building owned by the bank" A. NO; it is owned by the Jefferson Building and Realty company"
 O. Does MT. Walker have to have per mission from the realty corporation be- fore he can sell the building?" A. INC, sir; he can sell the building, which fetl into his hands at the same time the af- fairs of the bank did" O. DO you think there will be post ponement of the payment of the proposed 20 per cent dividend?" A. Not longer after the first of August than it will take to look after the few details and issue 1000 checks"
 o. Why is it that time accounts cannot be paid until after the open accounts are paid?" A. "The banks are operating un- der the constitution and it provides for the non-interest bearing accounts to have preference
 It was shown that as soon as money could be collected in and the open ac- counts paid, all money COlleCleu dltci Una dl time would be applied to the savings ac- counts until the money gave out or the accounts were paid in full. Following the questions and answers, several legal clauses in connection were explained by MT. Coleman. and after he had finished three resolutions were of fered, two of which were accepted and carried by vote. The first, however, was tabled, as it referred to asking for 70 per cent dividend soon, and 1t had been explained that this would be done regard less. Another resolution was passed to ask the state examiner for the names of all depositors so they could be gotten to- gether, and the third resolution in effect was to authorize the president and secre- tary to have a blank printed and sent to all depositors, asking them to come into the association A motion was made that all members be assessed $1 for the expense of this motion. It carried. Following is the statement of the Jef- ferson County bank up to July 15, made by Mir. Walkers agent, w. W. Craw- ford, and read before the meeting: RESOURCES.