Show WHO IS RESPONSIBLE The President of the Failed Tacoma Bank Tells Why They Closed TACOMA Wash June 2Nelson Bennett Ben-nett president of the suspended Merchants Mer-chants National bank in reply to the statement of President Cannon of the Chase National bank of New York that his bank was in no way responsible for the suspension of the Merchants and that no demand was made for settlement states that under date of May 1 the Chase National bank wired a peremptory demand for a settlement Mr Bennett further says the Chase National of New York had been our correspondent for years and had recently advanced about fSO000 on a specific loan covered with ample security as per contract For some unaccountable reason the Chase national people have seen fit to appropriate ap-propriate each and every remittance we have made them since May 24 on loan account ac-count and refused payment of our checks without even notice to us of their intention to misappropriate our runds I desire to say that the Chase National by this discourteous discourte-ous treatment which i legal is legal robbery did precipitate the disaster and that we had provided ample funds to have carried on our business had their demand not been made at this inopportune inoppor-tune time |