Salt Lake Tribune | 1910-04-21 | Page 16 | To the Stockholders of Zion's Savings Bank and Trust Company

TO THE STOCKHOLDERS OF ZION'S SAVINGS RANK AND TRUST COMPANY At a recent mooting of the board of directors of Zion's Savings Bank and Trust company, a resolution wns adopted providing that at the next annual mooting ot the stockholders of tho bank, a proposition would bo submitted sub-mitted for increasing tho capital stock of the bank from two hundred thousand dollars, the present capital, to live hundred hun-dred thousand dollars, making an increase in-crease in tho capital stock of thrco hundred thousand dollars; this increase to be provided in the following manner: man-ner: From ihc surplus and undivided profits which the bank now hns on hand a dividend of one hundred per cent upon the present capital will be declared, de-clared, payablo in slock at par or cash, at the option of the stockholder. Tho additional one hundred thousand dollars dol-lars ot stock will bo offered to the stockholders in proportion to their holdings, at the price of Ihree hundred twenty-five dollars pur share, which price is one-half of the present mnr-lcct mnr-lcct value of tho stock. If any stockholder stock-holder shall fail to avail himself of the privilege of purchasing said stock, tho samo may be disposed of by the board of directors at the price indicated. indi-cated. The following is the statement of the condition of tho Zion's Savings Bank and Trust companv. published March 1-1, J1U0: RESOURCES. Loans and discounts :. ,f I, ."36, 6". Bonds, slocks, certificates, etc. fills. 520.63 Banking house 100,000.00 Real estate 21.61 uue rrom oanKs. .Si-'.TOi.lifi Cash on hand 113.225.13 9S5.928.0S Total ?C,01C,0C98 LIABILITIES. Capital slock , J 200.000.00 Surplus fund 100,000.00 Undivided profits ; 203,7ft 1.27 Deposits 5,5-12,612.71 Total ?C,016,10a.U8 When fh is proposition shall have been consummated, Iho capital slock of the bank will be five hundred thousand thou-sand dollars and I he surplus two hundred hun-dred twcnly-fivo thousand dollars, making mak-ing the total capital and surplus seven hundred twenty-fi.vo thousand dollars, and (hereby the financial position of tho bank will be greatly strengthened, and when taken in connection with the surplus which the bank would still have oji hand, Zions Savings Hank and Trust company would undoubtedly be the strongest savings bank in the in-torinounlain in-torinounlain region, and one of its strongest financial institutions. This letter is addressed io you so Hint you will have an opportunity to consider tho matter before Ibe time at which you will be cnllcd upon to vote upon the proposition. Very respectfully. THOMAS Ci. WHMMOK, ASIIB SNOW, O. C. HUKJJK, Commit toe of tho Board.