Show TALOUSE HANK FAILS Unexpected Demands From Its Creditors Cred-itors the Cause PALOUSE CITY Wash Aug 9The bank of Palouse closed Its doors today An unexpected demand from the largest creditors which the bank could not meet was the immediate cause of the closing The bank had a capital stock of 580000 Charles T Cross was president and J R Payne vicepresident The assets of the bank are 1G5000 and the liabilities S65000 The officers of the bank say they will pay dollar for dollar but it will take time The bank of Palouse was the result of a consolidation of the First National Bank of Palouse and the Farmers Bank a few months ago It has done a conservative banking business but inability to collect its outstanding assets forced It to suspend sus-pend The principal creditors are Thels Barrell of Spokane Wells Fargo Co and the Vermont Loan and Trust company com-pany |