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Show The National Enterprise, August 31, 1977 Page thirteen Ailing bank American Bank of Commerce. Cedar City and Walker Bank & Trust Co., Salt Lake City, have filed applications with the Department of Financial Institutions for permission to merge the Cedar City bank into Walker. According to an affidavit filed with the application, management problems have plagued American Bank since its inception, and it is undercapitalized now. The merger is necessary, the affidavit states, in order to protect depositors or prevent the bank's failure. According to A. James Lundberg, a founder and chairman of the board of suggests merger American, the bank was formed by a group of holders in St. George organized Dixie State and another group in City. share- (who Bank) Cedar After the charter was granted. Lundberg states in his affidavit, confusion arose as to w hich of the two groups had responsibility for and control over the business management of the bank. As a result, no .cohesive effort to provide experienced management was made, and such leadership was lacking from the beginning." Lundberg assumed majority control of the bank in October or November, 1976, he states. But, since his residence is located 225 miles from Cedar City, he has found it difficult to obtain experienced management personnel. In May, 1977 the manager left the bank, leaving it with no experienced personnel." Lundberg continues. At that time, Lundberg arranged with Walker Bank to help manage the business on a temporary basis. "American Bank of Commerce is undercapitalized and is faced with severe competition from other Cedar City banks, including First Security Bank of Utah," Lundberg states. The application suggests the commissioner of Financial Institutions take temporary possession of the banks business until the merger is approved. Under the plan, the exist- ing American Bank would become a branch bank of Walker. The Commissioner will consider the issue at a public hearing on Sept. 12 at the Department of Financial Institutions office. Sandy stiffens safety standards Homebuilders in Sandy may find construction tasks both a mite safer and tougher with the implementation of two amendments to the citys subdivision ordinance. oday accurate information is the businesspersons best tool for both making and saving money. In any kind of business, big or small, old or growing that is true. Up to the minute internal data can make or save you hundreds, even thousands, of dollars. A about accounts payable, accounts receivable, payroll, inventory, schedules and work flow are vital to planning, too. Growth and expansion can be accurately gauged and prepared for. iccurate information T . What's around your specific more, we build a data processing program needs rather than sell you a canned program. We have found that this will substantially cut your costs in the long run as well as make the transition to our system smooth and trouble free. AB Systems provide exactly this kind of information. WEay TAB ysfiems j r.:i I 4 4 4 'J should be part of your business A benefit to you of including TAB Systems in your business is our professional staff of accountants and computer programmers. Our people understand the concepts behind your program and are trained to avoid hasty, superficial solutions. p lease call us today and let us show you how we can help you make and save more money than you are now. The Sandy City Council last week voted in favor of amendments to change fire safety standards in new construction and to demand adequate road access to new subdivisions. Previously, construction in new subdivisions could be well underway before water lines and fire hydrants were installed. Under the new amendment, homebuilders will be permitted to complete only the foundation of a home prior to the installation of water lines. The amendment is aimed at eliminating the chance of fire, Gene assistant city adminHar-oldse- istrator, says. The second provision proves to be more in the interest of city officials than it docs of developers, however. The hazardous journey down dirt roads to inspect new subdivisions has left many an official stranded in sand traps, Haroldsen says. To bogeys, 144 South Fourth East Salt Lake City, Utah 364-643- 1 fine. I i r- - prevent further the council is requiring all roads be kept clear and passable, and will enforce the amendment by allowing the offending contractor only 48 hours after notification by the city to eliminate the hazard before receiving a stiff TAB Systems Inc, Phone n, |