| Show TEES arrangements arran cements emen ts completed thursday in a meeting with ilith staci stockholders of southern organization president jas al peterson of the james al peterson bank returned sunda sunday y evening from escalante where lie he had gone wednesday accompanied by his stenographer lamoin cowley to ko make arrangements for taking over the assets and business of the state bank of escalante the volume of the Bs Ds calante bank has not been large enough to make profitable the transacting of the business independently and the suggestion was made that their business be to the james ba M peterson bank the stockholders of the escalante bank held a meeting with mr peter son thursday and by secret ballot the decision was reached unanimously to make the proposed change friday morning the escalante bank was open for the last time in the original quarters anti and was kept open until noon to wind up the business after which all assets asset were to the peterson bank john spencer has been the e i dent and lester spencer tile the cashier c ah i e r of the now liquidated escalante bank and assisted as isted in the process of liquidation immediately thereafter circular letters were sent out advising the depositors po of the state bank of escalante that the entire assets have been assigned to the james M peterson bank of richfield ancL that they have assumed the deposit liability of this 1 bank ink in addition the letter states tate you may inay continue to issue checks on oil the escalante bank just as usual je and they will be paid by b the james II 11 peterson bank up to the amount of your deposit the savings deposits will be taken care of by them in the usual manner with the assignment of our assets to the james 31 peterson bank goes also our good will vill and best wishes and we bespeak for them your continued patronage and support t taking over the affairs of the escalante bank will ill of course make rich fields old reliable bank still stronger and bigger |
