Arizona republican., 1921-05-01

lay spells disaster Every one in this community has read great deal about the work being done to quickly reopen the Central Bank But does every one know the real possibility of doing this?
 The situation is drastic as the law limits the time, and if all the depositors do not sign up, the Bank Examiner is forced accord@ ing to the dictates of the law to appoint receiver
 Thursday evening MT. W.
 O'Neil was asked to deliver message concerning the opening of the Central Bank at the Chautau- qua gathering There must have been fully 1900 people there to lis- ten to the wonderful humorous lecture of Peter Clark Macfarlane,
 but the most important message of the evening was that of Mfr. O'Neil as he clearly. without mincing his words, gave out the true facts concerning the opening
 of the Central Bank. I know and I fully believe that every person
 with a grain of common sense also
 knows that every individual.
 whether or not he is a depositor of the Central Bank. win directly and
 indirectly suffer if this institution
 goes into the hands of a receiver
 Citizens of Phoenix and the Salt
 River Valley, you can not stand
 by and let an institution close.
 shutting down it's doors in the face
 of 3700 depositorx
 And what does a receivership
 mean? From information reliable
 and authentic. 1t means that the
 depositors will have 10 wait sever
 al years. and then without doubt
 receive only fraction of their
 money For the good of the town
 and for the welfare of every citi-
 zen, the Central Bank must open.
 as it is the only method-and I
 have looked into it very carefully,
 as I am one of the deposItors-
 that will protect fully the finances
 of everyone l have kept myself
 fully posted since the bank was
 forced to close (because Of ugly
 rumors that started a run on the
 bank which has always been SO
 ready to extend a helping hand to
 the business man and the farmer)
 and now know that the einergen-
 cy and crisis is at hand and must
 be acted upon quickly A few de-
 positors hesitate in signing up the
 splendid plan that will open the
 bank. not realizing that if they do not cooperate that they are caus-
 ing a big loss not only themselves, but to the 3700 other depositors. The moral obligation certainly must be too big a one for any one depositor to carry. knowing that if
 he does not line up at once he is destroying nc, only his own
 wealth. but that of hundreds of others. great many of whom are not in position to lose their saw ings of years.
 The committee of depositors have given up hours of work. leaving their personal business and doing everything in their power to reach those that are hesI- tating to sign It certainly seems a shame that these few depositors should stand out against the plan. perhaps thinking the bank will open any way. This can not be done. and they will be responsible for the forcing of receivership. the dire result of which being the losing of their money and selfish ly causing every other depositor | to lose.
 Great credit is due Mir. Fair | field. State Superintendent of Banks, and Ed C. Bradford, the | Chief Bank Examiner. in the way | they have handled the situation to do everything in their power Il a world of gratitude is in the heart of every depositor who had signed for the opening, for their diplo- macy and interest in this tremen- | dous undertaking. There is no use for a few de- positors trying to fool themselves The only way out is for 100 per cent of the depositors to sign the agreement. George can not de- l pend upon Harry and Harry can l not depend upon Bill" The time | is getting short and the receivers ship will be appointed quickly if | the depositors do not act. Re- member the opening of this bank means that you will receive cer- | tificates of deposit, which without | doubt can be used as negotiable | paper and within a years time you l are getting back every dollar of | your money. Now is the time to | act. Get in line-sign up and help | in protecting your own interests, | thereby helping to protect the | entire interests of this community. | Keeping this bank closed is
 working a hardship on all of us | General business has suffered and my own personal business as well | This appeal is made as a heart | to-heart talk 10 every depositor
 who has not signed and l trust | will have the desired effect, and I
 hope in my humble way l have