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Show H Walker Skyscraper to Be One of Finest Structures in H the West. B COMPANY IS FORMED WITH MILLION CAPITAL H Home for Bank to Be From Ten H to Fourteen Stories in H Height. The first official step toward tho crcc-tion crcc-tion of tlie much-talkcd-of skyscraper on the northeast corner of Main and Second South streets by M. H. Walker and associated interests, was taken vesterday when articles of incorpora-tion incorpora-tion for tho M. J I. Walker Realty com-pany com-pany were filed with the county clerk. The new company, which takes over the "busy corner'' as the future site of one of "Salt Lake's biggest and most . costlv buildings and tho home of the firm of Walker Bros., bankers is capi-tnlizcd capi-tnlizcd at $1,000,000, divided into. 10,-000 10,-000 shares, each of the pur value of $100. Of tho total number of shares , 5000 have been issued, while 0000 are held by the corporation as treasury stock. Matthew IL Walker, president and nne of the founders of Walker Bros., bankers, heads the now concern as pres-ident pres-ident and controlling stockholder. John r K. Walker, assistant cashier of Wal- , Iter's bank, is vice president. As treas- urer appears the name of Louis K. Farnsworth, vice president of the bank, while Edward O. Howard, cashier, is secretary. In addition to Ihesc men. H. the directorate includes Henry G. Mc- Millan. general manager of the Daly-West Daly-West Mining company; W. Montague B Ferry, president of the Salt Lake City council and prominent mining1 man; B Frank A. Druehl of Druehl & Franken B and president of the Smith Drug com- pany; George S. Auerbach, general man-H' man-H' ager of Auerbach compan3' and heavy real estate owner, and Charles N. Stre-B Stre-B veil, vice president of the StrevoH-Pat-; B erson Hardware company and president : H- of the Independent Coal & Coke eom- B pany. -Walker Largest Subscrlbor. -Bl Mr. Walker has subscribed to 4920 B shares in the new firm, representing B $492,000 of the $500,000 issued in stock. B Each of the other incorporators has subscribed to ten shares, the total rep-B rep-B resenting $8000. While the stockhold- B era of tho M. 11. Walker Really com- B panv are the officers and directors of B Walker Bros., bankors, it is emphati- Bh cally maintained that each incorporator has placed his money individual!', as B a personal investment, without any con- IB nection with the banking firm, except B insofar as the proposed new structure B will provide another and most elaborate B" home for the institution. Vice Prosi- Bfl' ' dent Farnsworth declared yesterday B that the big building is being' financed B- in all respects separate from the bank. B The comer upon which the big build- H, ing will be built has been taken over B' from Mr. Walker, the owner. The front- B' age on Main street is S41 feet, and B that on Second South street 1261. feet, B while a portion of tho property extends B to the alley running north from Second B- South street. B It is tho purpose of tho company B to erect on this corner a modern slruc- Br lure of not less than ten and possibly "HIK fourteen stories. According to those "HUlP back of the big project, the ultimate B" cost of the building has not been de- B.' termined upon, but they are intent B'V upon expending whatevor" sum may be B," necessary to put up a structure that B -will vie with any of tho costly sky- Bj " scrapers of which Salt Lake now B, boasts, and one t lint will be a credit , to the bank, to the builders and to M'.-. Salt Lake. B The details of the building have B not been settled, but the structure will B be imposing and modern in every par- B ticular. Walker Brothers, bankers, will B occupy the corner on the ground floor, B and the Smith Drug company will ou- cup' the northern portiou of the B ground floor facing' on Main street. B Other apartments will be provided on B the ground floor for stores or business firms, while the upper floors of the "H building will bo let for offices. B Modem Bank Structure. B Tt is announced by the company that "H tho promoters intend to make the banlc-B banlc-B ing room tho finest in the city and ono of the finest; in the west. Mr. B Walker is at present, visiting San Fran- "H r.isco and Los Angeles, both widely B renowned for, the magnificent struc- B. tures that have lately gone up within "H their bounds, where he will thoroughly "H inspect the biggest structures financed "H bv the larger banks. His investiga- tion, it is said, will extend throughout "llH the country, in order to secure ideas that will result in giving Salt Lake as modern up-to-date and completely equipped banking house as it is possi-bio possi-bio to find. "H Walker Brothers bank grew out of a mercantile business conducted in pio-'H- neer days at Camp Floyd by four JM brothers, of whom one, Matthew H. 'JM Walker, now survives. Tu 1S;19 the business was removed to Salt Lake and MB was opened up on Main street's west. side between First and Second South streets near where the big Kcarns building now stands. At that time there wns no bank between Mm Aria. Isouri river and California. Customers formed the habit of leaving their earnings earn-ings at tho business house, and procured pro-cured money when thoy wanted it bv writing orders, which were honored the same as chocks. Later checks were printcd-for the convenience of patrons and money was also loaned on securities. securi-ties. Thus a full-fledged banking business busi-ness was launched in that venr, giving birth to tho Walker Brothers bank. Since then tho firm has absorbed tho local branch of tho V.'ells-Fargo Banking Bank-ing company, and has been at its present pres-ent location since tho year 18(55. Walker Bros., innkers, have been identified with the growth of tho city for over half a century. At the present time the institution's resources arc approximately ap-proximately 3,400.000. The bank has shown a rapid and substantial growth, and one of the principal reasons for the move that will givcSalt Lake another building that will forever -prove a monument mon-ument to the community, is that the banking firm has outgrown its old quarters. Farnsworth 's Statemont. In connection with, tho enterprise. Louis II. Farnsworth, vice president of the new firm, made the following statement: state-ment: "The incorporation of tho M. If. Walker Realty company is the first official offi-cial step toward the erection of a building build-ing on tho northeast corner of Main and Second South streets. The central idea is to provide suitable- quarters for the Walker Bros, bank, in keeping with its growing needs and in line with modern mod-ern ideas. The details have not vet been settled, but it may be stated tfiat the structure will bo in every way a credit to the city. "The building is being financed separately sep-arately from the bank. The bank will occupy its quarters aa lessees and will at ita own expense put in the vaults, furnishings, fixtures, etc., which will cost not less than $50,000. "Mr. M. H. Walker, president of the bank, is the principal shareholder and the other directors of the Jnnk are also personal investors of stock in the M. H. Walker Rcnlty company. m "Just as soon as plans for the building build-ing are npproved, tho work of construction construc-tion will be commenced and will bo vigorously vig-orously prosecuted until the building is completed " |