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Show !F4GRtJSE 50 PER CEITJ 1 31 7 Financial Institutions More Prosperous Than at Any Period in Utah's History. The financial health or illness of a city ind its tributary territory Is indicated by its hank clearings as surely as the barometer sets forth the state of the (veather. Total bank clearings, reported by the Salt Lake Clearing House association asso-ciation for the last tv.elve months, aro tWK."0Z,l2.45t an Increase of $206,673,-251 $206,673,-251 .13 over the previous corresponding period. There is no question that the banks of k, 'alt Lake, where there has not been a Lank failure since the noted financial panic of H73, as well as the banking" institutions of the entire state, are more prosperous than at any time in history and probably are resting upon a firmer and more impregnable basis than those anywhere else in the United States. Provide Barometer. "The immense ineao in the bank clearings for this year over the preceding preced-ing twelve months indicates that Salt Lake ir, growing fast, h?r business develop! de-velop! ncr substantially and rapidly and that the city is enjoying a prosperity grp.iLer in volume than ever before in its history." The foregoing is a statement of John Pingree. president of the Salt Lake Clearing House association, in regard re-gard to the unprecedented increase in the bank clearings. While some influences that tend slightly slight-ly to minimize the total must bo reckoned. reck-oned. 1 he figures speak for themselves and spell prosperity in Salt Lake and this section of I "tali in terms thnt are unmistakable. unmis-takable. The volume of the city's business busi-ness is growing, just as her population is increasing, and It is a good, conservative anfl healthy growth. The total bank clearings for the last twelve mouths will appear even larger in proportion when it is considered that during dur-ing most of the period in question the ted States has been at war and the tendency of individuals, as veil as busl-rcss busl-rcss firms. Is to be cautlouH and lean toward retrenchment. The great increase was despite war conditions and tendencies'. ten-dencies'. Statements from v each of the city's banks tell a story of steady growth and development. Two, the l.'taji State National Na-tional bank and the jjeaeret National bank and the Dope ret .Su vines bank, i have responded to the demands o: crowtli and have acquired nw rpiarrers. The first institution hw.- occupied its handsome, new home at I"- South .Main street for some tiui-j, while the Ueser t ban Km' building, to be one of the handsomest hand-somest in the west, st PI is under construction con-struction at First South and Main j-m reels. Three Salt Lake bank- have become members of the (Tearing 'louse association associa-tion during the last twelve months. These arc the National Copper bonK. the Fanners and Stocks-rowers bank and the National i.liy bank. Officers o 1 the Clearing House as.sociu ticci are: John Pingree of the Merchants bank, president: presi-dent: T. V. Boyer. Continental National hank. vi:- president; C. S. Burf-n. Farmers Farm-ers and r!oi-km-'"'wers bank, f-ecri a ry and treasurer, and W. O. Cloland, McCornick & Co., manager. Clearings of Year. Figures furnished by the Clearing i Hout'O association and showing the i growth of clearings month by month tor the last year, as compared with the previous pre-vious vfiar, foL'ow: 1 December. ld-. S 12."?, and De-'embor De-'embor 1016, Sti4,1 '.vi,'M)Z . Z, an iucrpase of $2l.fP3.14.flS: Janua-ry. K i , i.j.n and January. 1P17. .J.iu..SrS. an inra.se of $24,7:,4 JO . "1 ; February. 1H16. ?32.036.:i7.S.72 and February, 1M7. an increase of S11.S14.42. .L'S: March, 191 . SMS, i:.9, 737 . ?7 and March. K'17. ?nf.665,907'.4. an increase of ?U'.-5 ?U'.-5 -1 : April, lTMtf, J-t, SOS-. M and April, K-17, f53.ii77.2S4.6S. an increase of $17.72. &75.7K; Ms v. 191, S"-j,640,S4R . 41 and Mav. 1317. 4,01 9,34$ . 12. an increase of S1S.37S, 499.71: Jtme, 1316. $35.753, 34 . 21 and June. 1317, 655,513. 14. an increase of $18,905,134.93: Jul v. 1316. $34.439.3Sn.27 and Julv. 1317, $;6. 409,908. SI, an increase of $21,970,528.54: Ausnsr, 1316, $39,237.-7S7.S2 $39,237.-7S7.S2 and August. 1317. 552.232,757. 2S, an increase of f I2.S34.9S9. 76 ; September, 1916. J44.S09.546. 09 and September, 1917, .54.$75,240.9:. an increase of S1V)K-.-094. $9; October, 1916. 5?r..J66.1S4.-il and October. 1917. $74.16!,', 779. 23, an increase of Jl 9,003,594 .S2; November. 1316. 558,-946,70,97 558,-946,70,97 and November. 1317. $76,u39,-714.S2. $76,u39,-714.S2. an increase of $17,092,933.55. Total clearings for the twelve months beginning with December, 1915, were $49l,B29.S99.26. and for the year begin-nine begin-nine December. 1916, were $695.303,153. 45.. The projected Deseret bank building is the largest building to be undertaken in Salt Lake or Utah during 1916. The un-ceriainty un-ceriainty of both labor and material has bad a tendency to discourage enterprises of this nature. The two banks responsible for the building, the. Deseret National and the Deseret Savings bank, long ago were in need of ampler and more modern accommodations accom-modations and by their substantial growth have earned thoir splendid new quarters. Also, the community has need of more-offices more-offices of the better kind, for the buildings build-ings throughout the city are full to overflowing. over-flowing. The new building will bo fourteen stories tall and will cover 68 Vi by SO feet of ground. H will have a structural steel framework with reinforced concrete floors and fireproof tile partitions. Outside walls will be of brick, faced on the two street fronts with granite, terra cotta of :i light, grayish pink color. Jt will be thoroughly fireproof, a class A building. The two affiliated banks will occupy almost all the ground floor and mezzanine. The safe deposit department and the lavatory lava-tory for employees will be located in the basement. The basement also will contain con-tain a barber shop and two store spaces. One hundred and eighty office rooms, fifteen to each floor, will be arranged in the twelve floors above the bank mezzanine. mezza-nine. Five entire floors of offices are to be especially equipped for the use of i physicians and dentists. These aro to j have special electrical service, compressed air. pas and other necessary features 1 The huildins will he equipped with three j safety hish-speed elevators of the most modern typo, , it ' Additional land. 4S feet on the north, has been acquired by the owners with I the view of a possible addition there later. The present plans have been de- i siencd with such an addition In mind. I frcr the steel framework, which has been dflaved In- the difficulty of obtaining structural steel, has been placed, the work-should work-should make rapid progress toward final i completion In the late summer of ISIS. I The plans were prepared by Cannon and I Fet:.r architects, and the building is be-ins be-ins erected bv the Campbell Building company of Utah, both Salt Lake firms. I Reflect Progress. Though the country is at war and great demands are hcing made uin the financial finan-cial I'.'tbric of tho nation, reports from over the entire United States reflect substantial substan-tial progress over the last year and sustained sus-tained business activity. seventy-five application" fur charters for new national hanks for the months of July, August. September and October, with capita! of ?-J SCO. t. on. as compared with 70 appllca- tions during the corresponding months of It'll, were received by Comptroller of the Currenev Williams. SiNtv-lhrec charters were granted In three ' months of If IT. with capital of S.",.l !.".0"' as compared with charters Hinted in iho correspond ing four mnurhs ' of the previous year, with rapiial of 0:;,.i-i0, During these four months of lt17 t:, nalional banks merensed their capital siock in the sum of S'U ."" h ns against :;n tank villi an iucreTse of ?7,"j,Oh0 in tills period of If'1.. There were no reductions in e:ip;ial in lfili during the four months under consideration. con-sideration. I'urint; ihe same pericd of : !::. five banks reduced their c.ipi'al 7.. v, I'erpite the hrai-r demands made y the r.ibertv loan hord issues, deposits in Snit t .:ike bunks at the i love of business on NoM-mlier ':.') show an iiKTe.'isc of more than 57i.?.:.".'"eo over the C'-rrr5po:rl;:i-pei-iod of !!it. The te-tl elerosiis of No--vmbcr o1. I'C''. were .4.1 -hr.Sr, and ' November TO. 1?17. 0 C7..1 7.' 1. a bll- i p favor of cf jh.77h.77-.-ii i ,i!ffer..-.v m !.:" ..!,! '1-s. o nils U: Jouib'cr Sl'l l.l-l. V 7.1U. a br.ian-e in f.i of 111. of s i ::'7.i' -7 r ;ms l-C-i, I1 . 7 4 4. v7 i J. .:::! N ui ,--u er , j it.::, st:,: i7c 44. ;j. a i .iu.i,,e cf (:,:::.- |
