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Show I Banking Institutions of Salt Lake ITlio election of new officers for tho S:ilt Lako Clearing IIouso association January 9, 190S, marked practically tho end of any effects of the financial stringency of tbo .fall, of Jfl07. Litllo more than two months had olapscd s5dco the first meaanros taken to provent tho shipping out of tho 'city of largo amounts of cash on account of the financial stringency in other localities. Cashiers' checks, which had been put into uso hero to assist in conducting general business, had como to bo well known, and business men had como to adjust thomselves to tho now condition. The last two of tho groat monthly pay-1 pay-1 rolls of the city, including thoso of tho Murray and Garfield Bmeltcrs and tho Utah Light and Hallway company, had been paid in cash or in pay checks nrhich had been, exchanged for gold at the countera of the banks, and conil-denea conil-denea in th absolute striility of the city's financial institutions had become thoroughly established. Tho strips of pink and yellow paper which had been 11 a a1 Irt 1?ti nf nah VinrT nlmnpt nr. f.m. r- I disappeared, and within two weeks more wore practically unknown. Tho officers of tho association elected to aorvo through the yoar 1907, and to i whose Judgment and care so much was I dua of the as with which, this city I weathered the difficulties of tho finan-I finan-I clal flurry, were snpersoded by others, and the new officers took up their ' duties with & fair field ahead and the necessity of placing the finances of the I city on a basis as good as had existed before the coming of the panic. Chzrle S. Burton, cashier of tho State Bank of Utah, as president of tho I association; Frank Knox, president of I the National Bank of tho Republic, as vice-president of the association, and I Joseph Nelson, cashier of the Utah Na- tional bank, as secretary and treasuror j of tho association, woro superseded by 1'Vank Knox as president, Joseph Nol- fion, and H. S. Young, cashier of tho Dcsoret National bank. I Work of Past Tear. The past twelve months havo been marked by a slow recovery of banking and business conditions. Not that thcro had been any considerable derangement de-rangement of tho conditions here, but tho general unsettled conditions in tho cast had produced a feeling of unrest un-rest here, and business men wero expressing ex-pressing doubts of tho futuro outcomo of investments. In view of thin situation, situa-tion, the recovery to normal conditions had been surprising. Prosperity began to show early in the year, and although tho volume ,o general banking business did not reach tho high standing of tho summer of 1907 until well along in tho year, the coming of spring brought indications in-dications of satisfactory conditions at an early date, and, in Bpito of tho difti-ftllltlPH. difti-ftllltlPH. t.TlO Tonf vnnr Vina Vs.-. ..-. nn I excellent ono and has compared well with previous years, aomo of which had , been considered banner years in almost every way. Most significant as indicating tho sta-; sta-; bility of business hero has been the almost unprecedented amount of building build-ing done during the past year and the number of real, estate transfers. On account of the increaso in tho growth of the city, tho real ostato market has come to bo looked upon as an. excellent index of conditions hore, and the activity activ-ity in this line has been pointed out as an indication that the city was forging forg-ing ahead. As oarly as March, 1908, real estate dealers wero discussing the prospects of n beom in tho business and builders and contractors generally were laying plans for an unusually prosperous prosper-ous yoar. Tho result has almost justi-fied justi-fied the most sanguino hopes of the enthusiasts. en-thusiasts. The building record is well toward the top of tho list, tho number of civic improvements is a long ' one, and the record of business has far exceeded ex-ceeded that of all other years. All this activity has stimulated gen-oral gen-oral business conditions, and, with them, banking conditions. Before the year was half over bank clearings wero practically equal to thoso of tho summer sum-mer of 1907, when they wore unusually high. The extremely conservative manner man-ner in which banking business has been conducted throughout tho yoar is said to hare kept tko volume of banking business at the lowest possible figure . ,,uuua njn.ii iuu provious year havo been slightly misleading. No Lack of Business. Various causes aro assigned to explain the slight decreaso in bnnk deposits over the year 1907 and the Blight fall-Jug fall-Jug off in totals of clearing house returns. re-turns. Thero has been no lack of business, busi-ness, it is said, and tho demand for money to loan has at sovcral times of Condition of National Banks in Salt Lake City. ' KESOL'KCKS. 9 F- " C O H fe- v-y r- tJSJ f3 r -i ' a o. n f 4 2 as- ru '-yi h- ' ? ; 3 . jT : g :? s . I aw In a ! 2 rj ; ; ! . t v ' ! I ' . ' ' I ' ' 1 "" ! . ' ; Dcserot National banlc.. $1.0iiS.870.Sl $ 4,5f0.50 .? SPO.OO0.00S '.?L'.?nfi.S0 S .'.0 000 00lS- 1 "00 7n C71S CM V4 ; r. nsc to- ' Nat. Bank of tho Rcpub. $2,00U36.S0 M8.55l.-i3 ' 4C1 MO 00 SOP. 003 J7 j" 000 00 1 0"0 7S7 7''l -HOi'v ' I't-'IU'--' Commercial Nat. bank... 1.637.S62.JM 33.03.S5 200 000 00 ? 76 368 73 "'I filV 501 : Hi'U'(M tnli ,at. bank 756.636.0S 200.000.00 .l'ooq.OO . ...:?! iil&'A T.lsB.'fiJl.'SS I T0tlla S6.367.306.69$1S1.106.78$ 1.451,250. 00jSU82.C05. 62UIB1.67B. 15S J-'.(WL',!i72.rS2(034.735.0C;K.312,212.2S j LIABILITIES. : 9 I w j Q j c -3 IS ! ISf I I 3 g. S!i lfl6t i j11?, nal nk- - 500,000.00 553Sr9CC.fi2i; -150.600.0011 3.537. 3'5. 73 5 fi OSfi SD 3', 'nal ,B,ai ?f th, eP,ubl,c 300.000.00 247.177.fiP' 2S5 100 00 4 1.114 956 04 4 947 33 71 Commercial National Bank , 200.000.00 87 762.63 200 000 00 2.333 6S2 37 8 445 00 Tvtah National bank 200.000.00 r.0.'04S.Q5 gOO.OOoIool J.QQe.BM.lB T.ImuIo Totals ' - I?!. 200.000. Q0?323,05t.00, 1. 135.700. 00S11.0r,2.557.29?l;.312(212.2S the year been enormous. The demand for ready cash with which to carry on real oftato business from many more investors than at any previous time has been commented npo'n and tho low price of wool and tho unsettled condition of the motal market have boon given as excellent reasons for tho scarcitv of ready money. Thero appears to have been no lack of confidence all ovor the state, however, and any shortages in supplies sup-plies of cash havo been in many cases regarded merely ns duo to local conditions condi-tions and the effects of tho former straitened conditions in tho eastern states. A comparison of 1ho amount of do-posits do-posits this year with 3907, however, shows that tho savings doposits have not suffered materially, and many of the largo institutions havo more than hold their own. Thoso institutions which handled tho mining business havo suffered suf-fered most, perhaps, and tho lack of any great speculation in stocks has prob-ablv prob-ablv affected the conditions greatly. Tho condition in not regarded as serious, seri-ous, however. Business all over tho i state lias appeared excellent, and tho fact that tho financial instittitions of j Salt Lake City havo carried much of the business of tho surrounding country, including in-cluding Idaho, is said to indicate Hie ability of the banks here to carry on the business of tho locality. With tho first few days of November bank clearings jumped perceptibly over thoso of tho corresponding days of thn year before and havo continued o hold abovo tho totals of that time during the past month. This is said to bo duo partly to tho falling off at that timo and partly to tho normal increase in business. Prospects for tho coming 3oar aro xin-nsunlly xin-nsunlly bright. Ixtining business continues con-tinues active; tho real estate men point out that plans aro being laid by investors inves-tors and, builders for many largo undertakings under-takings in the spring and thero is a feeling feel-ing of general confidence all over the city. Officials of the Several Banks. Following aro tho officers of tho local banking institutions: Tho Salt Lako clearing house Frank Enox, president; IT. A. Young,- secretary and treasurer. uuovfu iicuuu i(j3ii;.uiu. Jim JueiLiun ul vico president in February and his successor suc-cessor was not elected Descrot National bank L. S. Hills, president; Moses Thatcher, vico president; presi-dent; II. S. Young, cashier; E. S. Hills and L. W. Burton assistant cashiers. Commercial National bank J. E. Cos-gnff, Cos-gnff, president; John J". Daly, vico president; pres-ident; IT. P. Clark, cashier; A. H. Pca-bodr Pca-bodr nnd W. II. Shearman, assistant canhiers. National Bank, of tho Itopnblic Frank Knos, president; J. A. Murray, vice president; "W. F. Earlcs, cashier, and E. A. Culbortson, assistant cashier. Utah National bank W. S. McCor-nick, McCor-nick, president; T. B. Cutler, vico president; pres-ident; E. T. Badgor, cashier, and C. H. Wells, assistant cashier. McCornick & Co. W. S. McComick, president: S. A. Whitnoy, cashier; II., A. McCornick and L. B. McCornick, assistant assist-ant cashiers. Merchants' bank W. J. Halloran, S resident; O. E. Chandler, vico presi-ent; presi-ent; E. Chandler, cashier; L. J. Ilaj-s, assistant cashier. State Bank of Utah J. F. Smith, prcsidont; Anton II. Lund and Hebor J. Grant, vico presidents; Charles S. Burton, Bur-ton, cashier; Henry T. McEwan, assistant assist-ant cashier. Utah Commercial and Savings bank William F. Armstrong, president; Byron Groo, vico president and cashier. Walker Bros.' bank M. H. Walker, president; Thomas Wcir: vico president; L. H. Frjnsworth, cashier; E. O. Howard How-ard and John H. Walor, assistant cashiers. cash-iers. Doscrct Savings bank W. W. liitcr, president; Moses Thatcher, vico prcsidont; prcs-idont; EHas A. Smith, cashier. 8alt Lako Security and Trust company com-pany F. E. McGurrm, president; F. S. Bascom nnd John Hickcr, vico presidents; presi-dents; Edward Homo, secretary; A. 0. assistant cashier. Utah Savings and Trust company W. 8, McCornick, president; John J. Daly, vico president; Heber M. Wells, manager, Zion;s Savings Bank and Trust company com-pany Josoh F. Smith, president; A. H. Lund, vico prcsidont; O. C. Boobo. cashier; George S. Spencer, assistant cashier. Tabulated statement of tho condition of all tho Salt Lako City banks at tho close of business on December 1 follows: H Condition of Savinss Banks and Trust Companies in Salt Lake City. Hj ; ; RESOURCES.' o 3 o s S?l & & - 1 I?7.150,S33.;- 2.46l.914.481fl.845.865.60i;il.461,813li5 , LIABILITIES. " 555 dS 'rjSJ g -. o7Z 2 a. - o p H u rr KCu0T0t, S.aJJn;?s. bank ?1.000 00 5 103,563 "1 S 1 318 1"7 K7 m na- cV rtLhLlH, Sccr,ty and Tr. Co. . 300 0C0.C0 80 OOOloo 5 1 491 000"'0 5 l'gTi'onS'oft L,1? Srvlncs -and Trust Co.-..., 250.00...00 17 753 52 llOTSSlo W H Sav. Banked Trust Co.. 200.000.00 , 21;inTi B.lSoliaS 76 I.'mo'" - ' -y'-.r-..;tt.;.SS50.003.00!? -4JJ.490.S3J$10.200,122.52;11.461.S'T3735 Condition of State Banks In Salt Lake City. RESOURCES. . I" . i i a o . Tr. KH. ' 5 r c a 2.. 2- ' 5.".. a-.?"- j . ' : .! l , ? : i - ; - . - i li'erMmSo hS-53'62-?2i-S2ls I'OO.OOlS 225.210; 00l?3.771.751 .201? 7.629.S1B.80 Slaloltl .."l-?05-?0 11.070.1C 46,702. 4n 126.804.2S i I ., ' Of IjtHli.,.1 1,1(0, (31. 2S :j2.y4.n.',, 222.672.23 731,3fi7.71 " I06 0S5 77 Jvnii- r,7,ono.oo: 2a.91s.sa 25 sso si TsJsToisJ WalUcr Bros, bunk.. .. 1. ,30.t;22.02j 16.500.00! 471.Q0u.ooj Sl7.:;72.93j -.8.03595 . GH Total3 37.03S.417.C7l?102.769.55,j :)p2.90o.2S$.;i.01S.775. lS!$13,732,Sr,7.G3 HA A BILITIES. ' 9 r, j Z H : : : i Hii;'"1, C? ? 2S0.00O.00$ b-6,013.3715 7.313.S02.4.1I? 7,629,815. SO e,0,la,r,,ts, bank 66.000.00 602.99 60.291.29 126 S94 28 State Bank of Utah 300.000.00 232.929.01 1,623 156 73 2.156 085 "77 Utah Com. and Savinss bank.. 150.000.00 39.5S0.93 594,995. 35 7Si'57G S INalkcr Broa. bank .- 250.000.00 16S.799.99 2.616.695.56 3.035t95ls5 ToUls ISJ.Om.000.001 $507.9211 32;?12.208.941 36IS13.732.S67.G3 |
