The Parker post., 1917-07-07
ORGANIZATION
Of DEPOS|TORS
MEETING HELD MONDAY NIGHT
AND TEMPORARY ORGANIZA.
TION OF DEPOSITORs HARMON.
OUSLY PERFECTED.

meeting of the depositors OF the
defunct Commercial Bank was held
at HOsfelt's Airdome Theater last
Monday night and was largely at
tended. The purpose of the meeting
was to perfect temporary organiza-
tiOn Of the Commercial Bank Adjust
ment company The officers selected
for the temporary organization were:
j. B. Flanagan, chairman, and Chas.
Detrick, secretary.
Almost perfect harmony prevailed
at the meeting, and it was decided
that the most important work at
present to be accomplished by the
depositors was the assignment of
their deposits to the proposed adjust
ment company. 1t was reported that
very large percentage of the de-
positors had already signed waivers
OF their account, and for the purpose
Of securing the signatures of those
present who had not had an oppor-
tunity to sign up, a recess was taken.
, during which interval every deposit
or in the audience, who had not pre-
Viously signed waivers, came forward
and affixed their signatures to the
waivers made out in their name.
The following committee, whose
duty it is to sign up all those who
have not already assigned their ac-
counts, was appointed by the chair
man: G. A. Marsh, Chas. Detrick, B.
B. Brown, B. NJ. Fuqua and J. f. Col
Inns. This committee is now engaged
in corresponding with out-of-town
depositOrs, and urging their accept
ance of the plan proposed to liquidate
the Commercial Bank -nnmhAr of
these have already sent in their
waivers. properly signed, and it is
believed that every depositor will
be signed up within a few days.
;" A motion was made and carried to
the effect that all proxies must be
given to some depositor in the de-
funct bank, if depositor desires to
be represented at the meetings of
the temporary organization. 1t was
also decided that no one except de-
positors shall have right to the
floor at any Of the meetings of the
depositors. except upon express in
vitation.
The next meeting of the depOsitors
will be held Monday evening, July 9,
at the same place, at which time 1t is
expected business of Importance will
come before the temporary organi-
zation.
1t is expected that articles of in
corporation will be filed before the
corporation commission within the
next few days, or just as soon as
every depositor has signed his waiver.
AS soon thereafter as possible meet
Of the stockholders in the adjustment
company will be called for the pur-
pose of adopting bylaws and elect
ing five directors to manage the af
fairs Of the new corporation. Four
the preferred stockholders, and one
by the common stockholders, the lat
ter class of stock being held by the
stockholders OF the Commercial
Bank.
1t is rumored that there will be
plenty Of candidates for the direc-
tOrafo GnVarol haVinp a1raadv an
nounced their intention of getting
a place on the board if possible. A
number of business men, who are
also large depositors, are mentioned
for directors, any four of whom
would make excellent officers of the
new corporation.
While it is believed that the
election of directors will be quite
spirited it is not anticipated that
there will be any i'll feeling grow
out of the contest, as it seems to be
the general belief that any four of
the depOsitors who are candidates for
the directorate will conduct the
winding up of the old banks af-
fairs in satisfactory manner to
every depOsitor.
The new Parker State Bank will
be ready for business just as soon as
the adjustment company becomes
fully organized. The new bank
will occupy quarters in the new hotel
building.