Palouse State Bank (Palouse, WA)

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Palouse Bank Closes Doors

Colfax-Superior Judge H. W. Canfield has appointed J. K. McCormack, president of the Security State Bank of Palouse, receiver of the Palouse State Bank, upon application of the Old National Bank of Spokane. The statement accompanying the application for a receiver places the liabilities at $170,000 and the assets at $140,000, of which $50,000 is shareholders' liabilities and of the balance, $90,000 is in notes due the bank, many of which, it is alleged, are practically valueless. The Palouse State Bank was organized in 1903 by C. H. Patten and G. M. Swartwood with $50,000 capital stock.

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Palouse Bank Closes Doors

Colfax-Superior Judge H. W. Canfield has appointed J. K. McCormack, president of the Security State Bank of Palouse, receiver of the Palouse State Bank, upon application of the Old National Bank of Spokane. The statement accompanying the application for a receiver places the liabilities at $170,000 and the assets at $140,000, of which $50,000 is shareholders' liabilities and of the balance, $90,000 is in notes due the bank, many of which, it is alleged, are practically valueless. The Palouse State Bank was organized in 1903 by C. H. Patten and G. M. Swartwood with $50,000 capital stock.

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Palouse Bank Closes Doors

Colfax-Superior Judge H. W. Canfield has appointed J. K. McCormack, president of the Security State Bank of Palouse, receiver of the Palouse State Bank, upon application of the Old National Bank of Spokane. The statement accompanying the application for a receiver places the liabilities at $170,000 and the assets at $140,000, of which $50,000 is shareholders' liabilities and of the balance, $90,000 is in notes due the bank, many of which, it is alleged, are practically valueless. The Palouse State Bank was organized in 1903 by C. H. Patten and G. M. Swartwood with $50,000 capital stock.

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only North Takima-A new city is ing laid out in the Moree Vall nine miles from North Yakima. will be known as Moxee City, Coirille-At the June sale school and state land held here S urday. including also the sale timber, about $16,000 was realiz Montesano-At a test of but from various sections of the st made at Seattle, the product of Montesano Creamery showed points out of a possible 100. Hoquiam-Moclips has shipped large bone from the head of a wh to the Seattle fair for exhibiti The bone weighs one ton and quired four men with levers to 1 it. Spokane The new indictm against J. H. Schively, charging I jury in his testimony before grand jury, will stand, Judge W ster having overruled a motion quash the same. Aberdeen-It is estimated t nearly $3,000,000 will be spent Aberdeen this year in new buildin street improvements, railroads the commencement of a new wa system. Aberdeen-Because of the in ference of the millowners the m of Gray's Harbor may be kept clo until after the Fourth of July. I hinted the millowners are in hurry to consider terms from strikers. Seattle-A. K. Townsend, who vertised himself as an employer young women at lucrative salar to work as stenographers, has h self been provided with employm with the chain gang for 60 da having been convicted of vagrano Colfax-Superior Judge Canf has confirmed the appointment of E. McCornack, president of the curity State Bank, of Palouse, permanent receiver of the Palo State Bank, which closed its do May 21. Spokane-To close the deal the sale of the Crystal mining pr erty, located near the mouth of Spokane river, Captain John G1 principal stockholder of the e pany, has departed for Pa France, taking with him the de The amount involved is $400,000 North Yakima.Iva Hanson a year-old girl, died at her home this city from too violent exer at play. A week ago she had pla very violently, causing an inter disorder, for which an operation necessary. A hemorrhage follo and death resulted. e Olympia-The supreme court versed the verdict of the jury Snohomish county that awar Mary M. Campbell a verdict aga the Order of Washington, an in: d ance organization: She sued to lect $50 burial fees and $25 a mo for four years and judgment rendered in her favor. Aberdeen-Finding the rear of his automobile on fire while the road between Hoquiam and erdeen and no water near, Cha f Armstrong, observing a WO a washing at her home near the re side, ran to her side, grabbed up 8 tub, clothes and all, and with e contents put out the blaze. Walla Walla-According to w received here from Pasco, the ra e rise of the Snake and Colun rivers has already caused $15 e damages to the property of Pasco Power & Water Company threatens to completely wipe out company's $100,000 pumping p just completed a mile below P t on the Snake river. 3. North Yakima-One-half of teachers in the public schools e North Yakima have resigned or 1 y dropped from the faculty. The jority of the teachers who have a signed say it is due to the fact e they cannot work in harmony e the superintendent. The majo @ of the teachers from the outside cline to come back again, and n of the home teachers have given their positions. a Pasco-To start a disastrous a among frame buildings in this 1. and during the confusion hold 1, and rob the early morning risers 1apparently the plan of firebugs k kindled a flame at the rear of : cal restaurant Saturday

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WASHINGTON STATE NEWS OF THE WEEK IN BRIEF North Yakima-A new city is being laid out in the Moxee Valley, nine miles from North Yakima. It will be known as Moxee City. Colville-At the June sale of school and state land held here Saturday, including also the sale of timber, about $16,000 was realized. Montesano-At a test of butter from various sections of the state, made at Seattle, the product of the Montesano Creamery showed 95 points out of a possible 100. Hoquiam-Moclips has shipped a large bone from the head of a whale to the Seattle fair for exhibition. The bone weighs one ton and required four men with levers to load it. Spokane The new indictment against J. H. Schively, charging perjury in his testimony before the grand jury, will stand, Judge Webster having overruled a motion to quash the same. Aberdeen-It is estimated that nearly $3,000,000 will be spent in Aberdeen this year in new buildings, street improvements, railroads and the commencement of a new water system. Aberdeen-Because of the indifference of the millowners the mills of Gray's Harbor may be kept closed until after the Fourth of July. It is hinted the millowners are in no hurry to consider terms from the strikers. Seattle-A. K. Townsend, who advertised himself as an employer of young women at lucrative salaries, to work as stenographers, has himself been provided with employment with the chain gang for 60 days, having been convicted of vagrancy. Colfax-Superior Judge Canfield has confirmed the appointment of J. E. McCornack, president of the Security State Bank, of Palouse, as permanent receiver of the Palouse State Bank, which closed its doors May 21. Spokane-To close the deal for the sale of the Crystal mining property, located near the mouth of the Spokane river, Captain John Gray, principal stockholder of the company, has departed for Paris, France, taking with him the deeds. The amount involved is $400,000. North Yakima-Iva Hanson a 17year-old girl, died at her home in this city from too violent exercise at play. A week ago she had played very violently, causing an internal disorder, for which an operation was necessary. A hemorrhage followed and death resulted. Olympia-The supreme court reversed the verdict of the jury of Snohomish county that awarded Mary M. Campbell a verdict against the Order of Washington, an insurance organization. She sued to collect $50 burial fees and $25 a month for four years and judgment was rendered in her favor. Aberdeen-Finding the rear end of his automobile on fire while on the road between Hoquiam and Aberdeen and no water near, Charles Armstrong, observing a woman washing at her home near the roadside, ran to her side, grabbed up the tub, clothes and all, and with the contents put out the blaze. Walla Walla-According to word received here from Pasco, the rapid rise of the Snake and Columbia rivers has already caused $15,000 damages to the property of the Pasco Power & Water Company and threatens to completely wipe out the company's $100,000 pumping plant just completed a mile below Pasco on the Snake river. North Yakima-One-half of the teachers in the public schools of North Yakima have resigned or been dropped from the faculty. The majority of the teachers who have resigned say it is due to the fact that they cannot work in harmony with the superintendent. The majority of the teachers from the outside decline to come back again, and many of the home teachers have given up their positions. Pasco-To start a disastrous fire among frame buildings in this city and during the confusion hold up and rob the early morning risers was apparently the plan of firebugs who kindled a flame at the rear of a local restaurant Saturday morning, the fire spreading rapidly until an entire block of structures was razed. The total loss is estimated at $30,000. Three holdups were perpetrated during the excitement, the robber in one case being a woman. Seattle-At the urgent request of Senator Jones the Indian Office at

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Three Receivers in Eight Days

Spokane-Judge Canfield, of Colfax has soothed the troubled spirits of creditors of the defunct Palouse State Bank by the appointment of the third receiver in eight days. He is C. W. Waters of Palouse. Creditors have opposed other men named because of personal connections and have succeeded in removing them.

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Three Receivers in Eight Days

Spokane-Judge Canfield, of Colfax has soothed the troubled spirits of creditors of the defunct Palouse State Bank by the appointment of the third receiver in eight days. He is C. W. Waters of Palouse. Creditors have opposed other men named because of personal connections and have succeeded in removing them.

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Bank of Endicott, Endicott, 250 shares, valuation $30,675. Lamont State Bank of Lamont, 100 sharee, valuation $10,000 Comegys. Hanford & Miller Bank of Thornton, 300 shares, valuation $7500. St. John State Bank of St. John, 250 shares, valuation $27,623. First Bank of La Croese, La Croese, 181 shares, valuation $19,232. Albion State Bank of Albion, 150 shares, valuation $16,673. Pullman State Bank of Pullman, 375 shares, valuation $46,249. Farmers State Bank of Johnson, 100 shares, valuation $10,579. Colton State Bank of Colton, 150 shares, valuation $16,000. Bank of Winona, 150 shares, valuation $16,009 Farmers State Bank of Uuiontown, 100 shares, valuation $10,118 Fidelity State Bank of Uniontown, 100 shares, valuation $10,264 First State Bank of Uniontown, 250 shares, valuation $44,535. Security State Bank of Palouse, 600 shares, valuation $63,000. First National Bank of Pullman, 500 shares, valuation $64,098. Citizens State Bank of Tekoa, 250 shares, valuation $25,875. Colfax State Bank, Colfax, 600 shares, valuation $50,696 The Bank of Farmington, Farmington, 250 shares, valuation $25,000. Palouse State Bank of Palouse is defunet, going into the hands of a receiver several months ago. Its place was taken by the National Bank of Palouse, of which DO record is given. The defunct bank had 500 shares, valuation $51,460. Farmers and Merchants State Bank of Malden is incorporated for $20,000 ; divided into 200 shares at $100 per share. Bank of Eiberton is a private bank run by A R. Metz. It is unincorporated an I DO stock issued.

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DVIDEND ON PALOUSE BANK PALOUSE, Wash., Jan. 2.-C. W. Waters, receiver of the defunct Palouse State bank, has announced that he will pay the creditors a. dividend of 20 per cent on their claims as a New Year's remembrance, the payment to be made about January 5. The claims total almost $150,000. The money held on deposit amounted to approximately $100,000. It is the belief of Mr. a Wters that the affairs of the institution can be settled by next fall, and while the amount realized is uncertain, it is thought it will be about 50 cents on the dollar.

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IN THE SUPERIOR COURT

Civil. Spokane Merchants' Association vs. G. M. Howell et al-Judgment for plaintiff. A. W. Witherspoon vs. Palouse State Bank-Order to receiver to pay 10 per cent dividend. Charles M. Newton vs. Herma B. Newton-Order to show cause. Elmer R. Miller vs. John McGinnis et al-Judgment for plaintiff. Eclipse Paint & Manufacturing Co. vs. George Sinclair-Judgment for plaintiff. Dora Middaugh vs. George Middaugh-Decree of divorce granted the plaintiff with the custody of the children. Georgiana Rees vs. Arthur L. Rees -Decree of divorce granted the plaintiff. W. A. Adams vs. Lillian PolkaDefendant's demurrer overruled and defendant given ten days in which to plead further. G. Allen Mason vs. F. S. Ratliff et defendant. J. M. Mahoney vs. Thomas H. Ellis et al-Trial and matter taken under advisement by the court. L. C. Fisher vs. Wesley Marsh et

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Palouse, Wash., Dec. 4.-One hundred creditors of the defunct Palouse State bank met Saturday to discuss the matter of closing up the affairs of that institution. It was decided to immediately dispose of all the remaining assets except a $5000 mortgage and a tract of land on the Columbia river, comprising 190 acres, which was turned over to the bank by the former president, H. M. Boone. Up to date, dividends to the amount of 40 per cent have been paid, and Receiver Jewet states that with the sale of the lands on the Columbia river there should be funds sufficient to pay an additional 20 per cent.

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SELLS PALOUSE BANK PAPER

George Jewett Gets $737 for Stockholders of Institution. Palouse - George C. Jewett, received of the Palouse State bank, which was closed in May, 1909, offered for sale at public auction all the stocks, bonds, promissory notes and other securities, and realized $737 cash. The so-called Swartwood paper, amounting, with accrued interest, to $29,140, and secured by $16,000 of the Palouse Clay Pottery company's stock, was offered, but not sold. The receiver put the price of $500 upon it, and was offered only $200. One share of Palouse Creamery stock sold for $33. One hundred and seven shares of Palouse Athletic association stock, face value of $5 a share, sold for $325. A large batch of promissory notes, all past maturity, from two to three years, sold for trifling amounts.