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Show lElSIU TO LEAVE nNJUTHML Former Cashier of the Institution Institu-tion Will Tender His Resignation Resig-nation on April 8. PRESENT TROUBLE OF BANK CAUSE OF THIS ACTION W. F. Adams Will Continue as Director and Member of Executive Committee. Joseph Nelson, formerly cashier of the Utah National bank, but who, upon tiic discovery, on January .1-1, that' the reserve chest of thu institution had been robbed of $106,250, was made second vice-president nnd relieved of participation in the direction of the bank's affairs, is soon to sever his connection con-nection with the Utah National entirely- On April 8, at the regular monthly meeting of the directors of thu bank, Mr. Nelson will tender his resignation as second vice-president, and step down and out. This, Mr. Nelson admits. Since the discovery of the theft from the reserve chest, and Mr. Nelson's subsequent, election to the office of socond vice-president, he has had nothing noth-ing to do with the administration of tho business of the bank, the second vico-prcsidency having been given him for the sole purposo of permitting him to have an apparent official connection with the bank until ihe mystery of the robbery should be cleared up. Adams Resigned Months Ago. W. F. Adams had been general manager man-ager of the Utah National up to the date of the last annual election, January 14, at which time tho theft from the reserve chest was discovered, and his resignation had been in President W. S. McCornick's hands for eight months previous to becoming cf-foctivo cf-foctivo after January 1-1. Mr. Adams's name, however, was on tho ballots as a member of the executive committee com-mittee of the board of directors of the bank, and as a director,' aud Jig was elected to those two positions at the meeting of the directors held immediately im-mediately uftor the discovery of the theft. Mr. Nelson s resignation comes as the result of several conferences by tho directors of the Utah National, and upon the belief by President Mc-Cornick Mc-Cornick and the directors that Mr. Nelson's Nel-son's resignation from eveu his nominal nomi-nal position of second vice-president will bo for the best interests of the institution in-stitution in its hour of trouble. Mr. Adams has not resigned from the executive committee nor from the directorate di-rectorate of the bank, and in all probability proba-bility ho will not do so. "Tlio question ques-tion of Mr. Adams's resigning has never come up among the directors .or between be-tween them and myself," said President Presi-dent McCornick Monday evening. ' have uot the slightest intimation that Mr. Adams will resign." A special meeting of the directors of the bank was to have been held Monday Mon-day to act upon Mr. Nelson's resignation, resigna-tion, but in view of tho fact that the regular monthly meeting of the directors direc-tors would take place April (3 it was decided to postpone the acceptance of the resignation until that time. Under Suspicion, Air. Nelson has been under suspicion with other officials of tho bank ns having hav-ing bceu implicated in the theft of the $10(1,250 from the rcscrvo chest of that institution oarly in January. IIo gives as the reason for his resignation at this ' time thai, ho considers it will bo for the best interest of tho bank, under the existing circumstances, and that this 13 tho Opinion held bv the directors and Presidonl McCornick. Important disclosures are looked for within the next few days relative to Iho investigation of the $100,250 theft. An arrest is cvon hinted at and perhaps more 1.1m 11 one. Tho Pinkertons are still in town and arc now busily on-gaged on-gaged in 'shadowing porsonal friends of certain of the bank officials. Thoy haven't, anything to say regarding the progress of their investigation aud President McCornick declares he has nothiug yet to givo out. Mr. Nelson's otlicinl connection with the Utah National, nominal as it has been since the discovery of Iho theft, will cease entirely on April 0. Mr. Adams will remain with the bank as u member of tho executive commit-' tee of tho board of directors and as a director of the institution. Following tho election of officers of the btink subsequent, sub-sequent, to January .14, the date upon which tho election was to have been held, President McCornick informed The Tribuuo that the executive committee com-mittee of the board of directors was a most important committee, and possessed pos-sessed of a great deal of authority in directing tho affairs of tho bank. President Presi-dent McCJornick nnd T, U. Cutler aro (lie other members of this committee. |