FIRST EXCHANGE PROPERTY BEING AUCTIONED

Two parcels of property in Cape Girardeau County were among those scheduled to be sold at an auction Monday as efforts continued toward final disposition of the First Exchange Corp.

The defunct bank-holding company owned banking operations in Cape Girardeau, Jackson, Fredericktown and St. Louis.

Properties to be sold at a Kansas auction included a truck stop-convenience store at 14840 Highway 177 and a one-story, 216,400-square-foot corrugated metal warehouse building at 14916 State Highway 177, both north of Cape Girardeau.

Sheldon Good & Co. of Kansas City and the Resolution Trust Corporation were conducting the sale for the Federal Deposit Insurance Corp. Monday afternoon. A number of other properties were also scheduled to be auctioned.

"We'll know early Tuesday if the properties sold," said an RTC spokesman from Washington, D.C. "New owners won't be announced, however, until the transactions are complete, usually within 60 to 90 days."