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Show IC0I0LITI1 OF BJisjsmora Important -Event of Week in . Financial Circles of City STRONG INSTITUTION Bank Clearings Continue to Show Large Gains Over Preceding Year. Tlic most important inciilcnt in local J financial circles during the pnst week was the receipt Thursday of tho Uniteii States treasury comptroller's official approval of the proposed consolidation of the State Bank of Utah, tho Utah Rational bank and the Utah Conun,cr-rial Conun,cr-rial & Savings bank". With the approval appro-val of tho merger on record, these three banking houses have now become one bank, to bo known as the Utnh Stnfn TCnti'niinl hnnlc. and Constitute I one of the strongest financial institutions institu-tions in tho west. The reorganization has been completed com-pleted by the choice of a now dircc-1 t orate and officers. Presidont Joseph 1 Smith holds the leading position, with Colonel V. C. .Tnclding as first vice president, Hebor tT. Grant second vice presidont and Charles S. Burton third vice president. Colonel Jack-ling's Jack-ling's selection i6 regarded only as a new recognition of his business abilities, abili-ties, which have already brought him conspicuously before the mining and business world. Burton Is Manager. I Charles S. Burton, formerly cashier of the State Bank of Utah, has been selected as tho managing, director of tho new institution. Otborwiso the directorate) and officials of tho bank remain as prcviouslj- announced, although al-though it is probable that some cnanges may be made among tho clerks. Just who among -the attaches of tho former for-mer throe banks will "constitute the working personnel of the new institution institu-tion has not yet been made known. The now banking firm will occupy the quarters formerly used by tho Utah National Na-tional bank on tho southwest corner of Main and First South streets, until future steps arc taken toward securing larger quarters. At present the merged institution has deposits in the aggregate aggre-gate of five and a half million dollars, and is conceded to bo one o the strongest strong-est banks in the entire west. IBank Clearings Grow. Outsidr of this the money market and local financial world during the past week was without special features. fea-tures. Bank clearings continue in excess ex-cess of those for the samo period one Vcar ago, although- the figures are not so record-breaking as were those of the1 preceding week. Yeslerdaj-'s clearings amounted to $1,122,660.13. as compared with $821,-132.66 $821,-132.66 for the same day the year be-Tore. be-Tore. The week's clearings amounted to .$7,075,459.42, as compared with $"5,955,007.23 for tho same week last 39 "Vo k'8 nc"case ,s $1,090,- An optimistic tone prevails among banking and business men alike. De posits aro increasing, money circulation is larger and. all markets show a healthier health-ier activity. From ttic east comes the report that all indications point to a -more active business season. Somewhat tempestuous tempestu-ous weather has injured crops, but. not to an' serious extout. it is declared, and a readjustment for tbo'bettor ia apparently being worked out gonorally. |