Salt Lake Tribune | 1910-04-21 | Page 10 | Zion's Savings Bank to Increase Its Capital

ZIO.VS SAVINGS BANK TO INCREASE ITS CAPITAL Directors of Zlnn's Savings bank have decided to submit a proposition for increasing in-creasing the capital stock of the Institution Insti-tution to thp stockholders at the next annual meeting. The proposed Increase Is to be from -1200,000 to 5500.000 and to raise the additional $1500,000 the following plan Is proposed by the directors: From tho surplus and undivided profits which the bank now has on hand a. dividend divi-dend of 100 pur cent upon the present capital will bo declared, payable in stock at par or cash, nt the option of the stockholder. Tho additional '?t00.000 of stock will bp offered to lb.? stockholders In proportion to their holdings, at the price of SltL'S ppr share which price Is one-half of the present market value of the stock. If any stockholder shall fall to avail himself of the privilege, of purchasing, pur-chasing, the Ktock may he disposed of by the board of directors at the pii' indicated. in-dicated. When this proposition shall have been consummated, the capital ntock of tho bank will bo $500,000 and the surolus ?'JS.000. making the total capital and surplus ?725.000.