| Show S HANKING CHANGES American National to He Apruiii the Bank of Salt Lake On Monday morning the National bank will rehabilitate itself in its former apparel and be known by its I old name the Bank of Salt Lake A Herald reporter called upon James H Bacon last evening and Mr Bacon stated that on October 13 1890 the American National bank succeeded the Bank of Salt Lake which has now purchased all the property and business busi-ness of the American National bank will succeed the latter institution The principal owners and managing manasin officers of the former Bank of Salt Lake and of the American National Natonal bank will continue to be the owners and managers of the new Bank of Salt Lake S We have demonstrted by actual experience ex-perience said Mr Bacon that we can do as large a business with greater net profits as a private bank than asa as-a national bank The extra expense necessary in the management of a national na-tional bank more than offset tonal tho advantages ad-vantages of such a bank and to save these extra expenses we return to private banking I has been our policy pol-icy for some time to carry a very large percentage of our deposit in cash and the Bank of Salt Lake will start with all of its customers deposits depos-its in casha statement that we feel well pleased with The officers of the new bank will be James H Bacon president H 1 Bacon Ba-con vicepresident F L Holland cashier cashier and W B Holland assistant The Sugar Company The Utah Sugar company has up to date received a little over half of its government bounty on the sugar produced pro-duced during the season just closed the amount in round numbers being 58000 This money or the most of it S ha already gone to the farmers who furnished the beets which made the manufacture of the sugar possible and I the company has now almost cleared I off the contracts for the past year I was anticipated that the total I amount of the bounty would have been E received long ere this but for some reason of their own the officials of the government department which has the matter the payments in hand have greatly delayed I On Tuesday the board O directors of r the company will hold an adjourned i meeting at which it is very likely the matter of bonds will be definitely settled set-tled At present the 400000 issue seems to meet with tne most favor Superintendent Rowe Rcsjpriis William l Rowe has severed his direct connection with the management of Zions Cooperative Mercantile Institution In-stitution and resigned as superintendent superintend-ent of the shoe factory department of which he has been the head since its inception This action was necessary on account of the many other enterprises enter-prises in which the gentleman has interested I in-terested himself and his acceptance of the receivership of the Bear Lake and River Waterworks and Irrigation company com-pany He will retain his membership on the board of directors of the Institution tution but his active management of the factory department has already ceased Mr Rowes successor is George Romney Jr who ha ben with the institution for many years Chamber of Commeree President William H Roe of the I chamber of commerce yesterday called a meeting of the board of directors of that organization for Tuesday afternoon after-noon at 3 oclock at which several matters mat-ters which have been held back on account I ac-count of their incompleteness will be presented for action This will be the first meeting held for a month and i I Is anticipated that the session will be a lively one The Flour Syndicate The meeting of the Salt Lake and Davis county mill ownerswhich should have been held yesterday afternoon I was continued until Tuesday in order that the committee which has in course of preparation the proposed articles ar-ticles of incorporation Of the combine com-bine might have further time in which to complete its report The name adopted for the consolidation of mil ling interests of the two counties named Is the InterMountain Milling company and in case the drafted arti des prove satisfactory to the members of the coming organization they will be filed within a few days after the meeting and the combine will be In full forceand effect As was stated in The Herald when the combine was first c9fbn nst r talked of It wH not have the effect I Qf increasing the priest of breadstuffs but is Toeing perfected for the single I purpose of decreasingtlfe running expenses i ex-penses of the various mills and in that way enable them to compete with the outside mills which are at present flooding the market with flour at prices ruinous to the producers Telephone Company On Monday the stockholders of the Rocky Mountain Bell Telephone Co will hold their annual meeting for the election of officers for the ensuing business bus-iness year After the meetingPresident Wallace will depart for Boston an financial business connected with the company Immediately upon his return re-turn from the east the construction of the superstructure of the new exchange I building menced on State street will be com mence Insurance Losses Paid The insurance companies which sus tined losses through the Price Bros fire at Goshen some two months ago yesterday settled with the firm for 6200 which was very satisfactory to the members of the company The loss was total and on this account it was very difficult to arrive at the exact amount of the damage sustained the books of the firm being destroyed with the other contents of the store When a final settlement had been reached the insurance companies saw no good reason for holding off payment until March which they might have properly prop-erly done and yesterday Messrs Heber J Grant Co agents for the losing companies paid over the amount agreed upon to the prices |
