| Show JO JORDAN BANK BATTLE BUTTLE WILL HILL ILL GO TO FINISH Nelson Wing in Full Control and Rival Institution Will Willi i Open Doors Today ROOM FOR ONLY ONE IN BINGHAM JUNCTION DIRECTORS OF OLD BANK ISSUE STATEMENT OF THEIR POSITION I Prom a Staff starr Correspondent Bl Junction April 2 The Jor Jordan Jordan dan daa State bank which has become In Involved Inv voWed v In a decidedly Interesting fight between bet een the rival stockholders opened this morning with the Nelson NelliOn win wing In I full control D John Bloom Bloem of the State Bank flank of Utah of Salt Lake was nUl wasat wa waat at th the cashiers window in place of WD W WD WD D Fitzgerald who was deposed yes yesterday ye ee by the Nelson faction which now has control of two shares oC or stock more than enough to control the hank bunk hankIn buTkIn bunkIn In anticipation of Or a repetition of yes yesterdays yesterdays run turk on the tho book blink Henry HettI Henr T McEwan of the State Bank of Utah Ulah and vice rice president pre of or the Jordan Jord n State bank who is leading the fight of the Nelson interests accompanied by a deputy sheriff arrived in Bingham Junction early this morning In an au an automobile automobile bringing with them In Ingold Ingold Ingold gold afternoon after ter the tte bank had closed Mr Ir McEwan state I that the money brought from Salt Lake was not needed as the deposits for the t e day were w re in excess of 0 the withdrawals laughed at the suggestion that a run had been made on the bank saying that all day Thursday Thu day there were ere only live five accounts il closed clos d He Heald said sa hi that perhaps the withdrawals ls had ex tx exceeded ox the deposits depo by but that there was wall enough money in th vaults of at the State Bank Sank of or Utah to take tak up all n of f the S SW of or deposits dep sits In Jr this he was verified by W D Fitzgerald the retiring cashier who sai that tha th bank was wa as absolutely and could not be financially embarrassed should all of o the deposits he lie withdrawn He said that the me H OIO of had been reduced 1100 to within the last few days Minority Stays Away The minority stockholders ers of or the theil institution il J all m Fitzgerald former president and cash cashier sh shIer ier or of the lank bank were In Salt Lane Laho a Q er r ranging for forthe the immediate of the he new Peoples bank being aed b by the minority stockholders to the Jordan State bank ArUl ArU 1 s of o in incorporation incorporation corporation for this bank bonk will be he filed tomorrow with the secretary of tC t state J 1 1 XV V W V Fitzgerald has been chosen cb Pen president of the new bank a andY id W V Jj lJ I FI Fitzgerald the ahIer William Aylett president of ol the Jordan State bank ank will ill be a director of the new MW bank ank and an active participant in the fight ight against the Institution of or which he e is ill still the president predent Arrangements were made yesterday whereby the Utah National Till be So made the correspondent of the new nelli institution The State Bank of Utah l tah National b has as succeeded sUc ed the Utah as Is correspondent of ot the Jordan State Salt bank yank Each bank has Influential Lake connections as well a 83 financial Ii I and business s backing in Bingham Junction Function and ch is prepared to fight to o a finish for or It Jt is conceded by b both sites that Bingham Junction cannot support two banks beaks in l that a 8 fight will be made for lor the bushier A considerable cen item in the transaction in hi Bingham Junction Is Ia tion iun of banking kine the be cashing of the checks ks for tor the smelter emploY The cheeks checks ChOC are drawn on lck Oo eo bank In Salt alt Lake and a small exchange te lo charged for cashing them theme The new bank Teak will be located at Ot the heat t of the smelter Iter street and expects ts to get a large laroe per cent of business bulline We will cash their cheeks checks for noth nothing nothIng ing ng said Mr today speak speaking l lIng ing ng for the old oh bank Indicative of or the feeling f af a antagonism nl n H II T r ism am are statements by of ot f the Nelson faction and W D 1 I gerald terald of ot the opposite party Fight Is Expensive know hud had a II run nm for their heIr money m y when we get through with them born saM said Mr This rIds tight fight means that Bingham Junction will with have bave save two banks neither of which in is making more titan than exp ss arid add that at dividends on bank k stock vill decrease In n Bingham Junction But Buit we can af afford aford ford rord to wIt walt The sentiment of or her ts s men meu in tn Bingham Junction saM aid Vr 11 r Fitzgerlad lad ad is practically against aln the he outfit now hi In charge of i f the Jordan State tate bank They are not convinced that hat the sale of the Nelson stock to the representatives of the State Bank of Utah was bona bonn fid Iid tide The new bank should get nearly all of the Stagnant t Continued on Page 6 JORDAN BANK BATTLE WILL GO TO FINISH Continued from from Page Pape 1 Junction business and I feet feel confident that it will be a success In a circular Issued le by the authority of o the directors of or the Jordan State bank to the stockholders and deposit depolt depositors ors of the bank an effort Is J made to give the side of or the Nelson faction fa in inthe Inthe inthe the bank controversy The circular blames J W W V Fitzgerald without ut naming him for tor the disquieting condi condl condition condItion tion now prevailing and declares that he wilfully poisoned the minds of some of or the stockholders and depositors against the majority Interests Fitz Fitzgerald Fitzgerald Fitzgerald gerald Is referred to as a man owning only five shares shams of or stock Circular ls The circular In full follows follo s suTo uTo To fie the stockholders and depositors of or the Jordan State bank and citizens of o Bingham Junction and vicinity At a meeting held by the directors of the Jordan State bank a committee was appointed to draft a brief circular setting forth some of the facts connect connected ed with the present unpleasantness cx ex existing in the banking situation at Bingham BIng Sing Singham BIngham ham Junction as much misrepresentation e ta I tion has been made and erroneous con eon conclusions drawn chiefly from a misun misunderstanding of o the truth and partially by willful misstatements The facts are that the State Bank of Utah tah owns controls absolutely and bona fide and ly Iy at a th this time 7 a controlling g Interest in I ly Iy and at a th this time 7 a controlling g Interest in inthe inthe I the Jordan State bank and the diree directors directors tors tons representing this interest on the board have employed every means in their power to propitiate and pacify the minority interest but so 10 far have been unsuccessful ul chiefly for the reason reacon that one on man owning only five fie shares pf stock has presumed to dictate and control con COD control absolutely the policy of the institution Institution institution and has bas never missed an opportunity opportunity opportunity to poison and bias the minds s of o othe the present shareholders depositors and citizens residing ding in this end of the county against agan t the majority shareholders ers The directorate of the State panko junk Bank of o Utah is composed of ot such sueh men as President Joseph F Smith John S Bransford mayor of or Salt Lake City A AV Aw AW W V Carlson secretary and treasurer of o oZ Z C M 1 I Heber M lr Wells Wens James D Murdoch capitalist and member of o the rib pity council Samuel Bishop C W Nibley and other gentlemen of prominence and probity of o character men who would not do nor consent to the doing of an illegal or unfair thing and any person who charges that a ma majority majority majority I of the present board of the Jor Jar Jardan Jordan Jordan dan State bank is doing or has done or has consented to the doing of an illegal or unfair transaction rIn ln In connection with the recent n cent election of officers and directors of the bank or the conduct of Its affairs is guilty of o wilfully and knowingly misstating the facts and we ask all good citizens of this vicinity to I withhold their Judgment until they can get a full and fair fall hearing of or both sides lof of the case rase and to suggest to those cit citizens citi citizens i whose minds min militia e have been prejudiced I by hearing only on one side of o this case and who have been induced to Join in inthe InI inthe I the formation of a competitive bank I to pause before they loan Joan their money and assistance to the new project with without without without out fully understanding that they are entering what may prove to tobe tobe tobe be a long drawn out contest conte t and one that may not yield much profit to either sIde Depositors Are Safe Of one thing the depositors of the Jordan State bank hank may rest assured that their deposits are absolutely safe I I when guarded by such well known busi business business business ness men m 11 and bankers as William Aylett Alett president of the Jordan State bank Henry T McEwan vice 1 e president president president dent of the Jordan State bank O 0 C e Beebe cashier of o Zions Savings Bank Trust company comp ny and Charles S Bur Burton Burton Burton ton cashier of the State Bank of or Utah I for with their abundant resources they are ae able to easily meet any contingency cy e that could possibly arise arile In this vi vicinity vicinity i We invite the cooperation of all the business men and residents of this sec section section tion would like to have them come and i talk to us and we will make it our first duty to wait walt on them as fast as possible possible possible ble and assure them of our firm fino intention Intention Intention tion to build up Bingham Junction to protect the interest of our friends and associates in this vicinity and as soon as possible place U control of or the af affairs affairs fairs of the Jordan State bank In the hands hand It of good honest and capable cit citizens citIzens citizens of Bingham Junction This being the policy of the State Bank of Utah since its organization in n 1500 and since which time it has bas assisted in the organ organization organIzation and helped with all its influence the growth of many local banks By order of the board of directors JORDAN STATE BANK The fifty shares of stock in the Jor Jordan Jordan Jordan dan State bank held in the name nan of Jo Joseph Joseph Joseph seph F Smith as forthe for forthe forth the th Church of Jesus Christ of Latter LaUer day Saints was today formally en endorsed endorsed by b President Smith to the State Bank of or Utah and will be transferred on the books boobs or of the Bingham Junction bank to th the names of the directors representing rep reI representing resenting the Nelson KelsOn Interests This will give them the undisputed pos vos possession possession session of of the shares In the Jordan State bank F V FITZ GERALD |
