The Barre daily times. (Barre, Vt.) 1897-1959, 1922-04-07
NEW BANK WILL
OPEN APRIL 10
Barre Trust Co. Received
Transfer Of Old Bank
To-day
MERL B. CLARK
TO BE TREASURER
Location Of Bank in For
mer Quarters Of Barre
Savings Bank

the Barre Trust company, was effected
to- day pursuant to the decree Of Judge
|S. G. Wilson AS chancellor on March
III; and the Barre Trust company
plans to open its doors for business at
l23 North Main street on Monday
April 10.
The location Of the Barre Trust com
pany will be in the former quarters oil
the Barre Savings Bank and Trust
company, and the equipment and APP
pointments OF the bank will be among
the best to be found in the state The
banking rooms were constructed spe-
cially for bank purposes when the
building was erected, and they repre-
sent both utility and safety. The vault
is one of the most secure in the state
and The mechanism OF the vault door Is
fashioned after modern construction. In
all respects, the banking rooms are
thoroughly mp to date. and the Barre
Trust company il fortunate IN being
able to start business in such satisfac-
tory quarters.
In connection with the sale Of the
Barre Savings Bank and Trust com.
pany, the receiver Of that bank. which
was closed virtually year and half
ago, II sending out final notices Of 100
per cent dividend to the depositors OF
that institution. A large proportion of
the dcpositors III he old bank have al
ready made formal notification of their
intention to transfer their deposits
from tho Barre Savings Bank and
Trust company to the Barre Trust
and opportunity to do 20 win
be afforded with the opening of the
Barre Trust company next Monday
and thereafter Interest on such de-
posits transferred win be paid from
April BY the Barre Trust company.
That the Barre Trust company
starts its career in strong financial
condition is evidenced BY the fact that
the receiver Of the Barre Savings Bank
and Trust company Is able to announce
! 100 per cent dividend 10 depositors
and by the further fact that the receiv.
r. State Bank Commissioner George B.
-arpenter. has stated his confidence in
he sound position of the old bank at
he close of the receivership
In his statement accompanying the
lotice of final dividend on the Barre
savings Bank and Trust company, Mr..
.arpenter says: sIt ldepositsl is pay
lhlc at the newly organized Barre
trust company, Barre, Vermont, which
las purchased all the assets Of the
sarre Savings Bank and Trust com |
ANY, and through which all payments |
/ dividends viii be made Depositors
gho have consented TO transfer their |
eposits TO the Barre Trust company |
vii receive proper evidence Of such dc.
osit in due course Deposits 20 trans
erred will draw interest from April =,
a22, at the rate of four per cent per
mum.
Christmas Savings club. depositors in
he old bank who were advanced 50 per
ant Of their due amounts by the Gran
.e Savings Bank and Trust company.
he Quarry Savings Bank and Trust
ampany and the Peoples National
ank. through the Barre Board OF
rade. win be paid Saturday night by
heck on the Barre Trust company
'epositors in that club number approx.
nately l,700 Those who did not as
gn their books To the Board of Trade
ill also receive their money by calling
| the Barre Trust company any time
fter April 10.
On the above date. a. already stated.
ie Barre Trist company viii open its
oors for general banking business. Be-
IRE taking over the assets of the Barre
avings Bank and Trust company. the
reetors of the Barre Trust company
ltisfed themselves thoroughly in re-
lrd to the conditions under which the
Nv bank could start. The stockhold
5, numbering in the vicinity of ll5.
I'd in the first place begun ncgotia-
ons with the receiver of the Barre
avings Bank and Trust company in
der 10 protect their own interests as
'positors in the former bank. a. well
the interests of all depositors, be- !
wing that those interests could he i
st conserved by starting the Barre
rust company rather than in iiquida !
IN of the old bank. Investigation in Z
lent to those negotiations convinced ,
e stockholders and the directors of !
e newly-formed Barre Trust CON-
ny that the proposed new hank
luld start off on strong financial
sis and that there was opportunity
r the operation Of a fourth bank in
IRE, as there had been for many
srs.
Therefore. the stockholders went into
r project with confidence no; only in
E Barre Trust company but in the fu-
re Of Barre. They have paid In $50 a
D a. capital and have, in addition. Il
ID in $4,000 10 start a reserve fund .
the new institution. They have 9TH
assurances which serve 10 increase D
rir confidence in the success Of the n
IRE Trust company. b
The stock holders have elected a. di.
tors OF the Barre Trust company, c.
. following men: Edward W. Bisbee, ?
orney. real estate holder. former -
-tmaster for many years and > man ci
20 has had a great deal Of banking a
,erience. =. g. Caicsgni. granite q
nufae,urer. hcing = member Of the 4
q known firm Of NoVclh a Calczgui. P
INK =. Langley. publisher Of the q
IRE Timcs. Quincy n Perry prrsi- y
u Of ihe Perry Automohile com- y
". Fred II. RnCcr-- Merchant sud
y alderman. q b. Sarysintfti- iArzs n
] estate hoider and long assccisied p.
3 she granite industry. Nsliruu !.