| Show OUR CLEARING HOUSE Prospects of Four More Banks Coming In THE SHOWING THAT CAN BE fADE It is to Hoped They Will All Pull Together and Show the Correct Clearings High up as Salt Lakes weekly bank clearings mount in the national list and I much at they run ahead of other cities twice our size it is a fact net generally known that those clearings are away below I what they should be if all our banks were members of the local clearing house and what they will be in a fortnight when that I consummation has been reached As it is now the figures which average from I H500000 to > 000000 per week are maurjuu by eight banks the Dcserct National Na-tional McCornick Co Wells Fargo Co The Union National the Utah Commercial Com-mercial and Savings the Commercial I National the Bank of Salt Lake and Jones i Co Salt Lakes other banks the State I I bank the Utah National bank Zions Savings Sav-ings bank and the National Bank of the Republic not counting the Dcseret Sayings I Say-ings are notas yet represented in the business I bus-iness of the clearing association To a HERALD representative who yesterday asked Mr Hawley manager of the clearings how much the weekly report would be swelled if the business of the other banks were included he said at the very lowest the weekly increase would be a quarter of a million dollars Askt what the chances were of all the bai ks coming into the association ho replied re-plied that he thought most of them would be included before long It is learned that one reason for the de i lay which has taken place is found in the fact that the banks which organized the bearing house placed tho entrance fee of the new members at 500 The new banks objected this on the ground that it was too high as the association had 110 expenses expen-ses to justify such a charge and that it was disproportionate with tile amount paid in by he organizers After some consideration con-sideration the banks organizing the clearing clear-ing house consented to have the initiation ree reduced onehalf to 253 At the meeting I meet-ing on June 12 an amendment to this effect ef-fect was introduced and as it took one months notice before it could be acted upon it will come up for disposal on July 12thThe The whole city is interested in seeing the bank clearingswhich form so good an Idex of a citys progress and prosperity represent the total of our legitimate transactions trans-actions and we all trust the full number of banks will be enrolled in the association associa-tion |
