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Gold/Mining/Energy : Gold Price Monitor

GDXJ 96.06

-1.4%

Nov 17 4:00 PM EST

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To: goldsnow who wrote (14919)	7/26/1998 7:35:00 PM
From: long-gone	Read Replies (1) of 116762

It has Started!!!!!!! ALL: Denver Post Sunday July 26, 1998 All of the deposits and some of the assets of the FAILED BestBank were acquired Saturday by Pueblo Bank and Trust Co. which will reopen the bank at 9:00 am Monday. The Pueblo bank agreed to pay $1.13 million to assume $225.3 million in Customer deposits, according to the Federal Deposit Insurance Corp. It also agreed to buy $47.2 million in bank assets - mostly Treasury Bills - at face value, agency spokesman David Barr said. The government also disclosed Saturday that 1800 BestBank depositors had accounts totaling $59.2 million that were not federally insured. "The government will make perodic payments to those customers as bank assets are sold over the next five to seven years, BUT CHANCES are "VERY REMOTE" the customers will receive all their money:, Barr said. Colorado examiners closed the bank Thursday after judging it critically undercapitalized. rh

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