Salt Lake Tribune | 1918-04-02 | Page 18 | Reserve Branch Begins Business

RESERVE BH BEMIESS Work Is Started Under W. A. Day of Sai? Francisco as Manager. The Salt Lake City branch of the federal fed-eral reserve bank nf San Francisco opened for business in the Moran building at HO South Main street yesterday. The branch reserve bank is under the management of W. A. Day. Mr. pay is manager of the branch, having been sent here by the parent institution a.t San Francisco to take charge of the affairs of the local branch. Me is assisted in the work by H. N. Mangels, as cashier. Mr. Mansels also comes from the reserve bank at San Francisco. The other employees in the bank will be Salt Lakers, it is stated, though the manager was not prepared pre-pared yesterday to give out the list of employees. The enormous rum of .M,Sr,-.24S.39 was transferred here from the reserve bank In San Francisco to start the business of the branch. Of this amount about STii&.OOO was in currency. The- money reached here Saturday and was divided among other banks in the city for Fafe keeping until the bisinch reserve bank receives and InstVls its new safe, which is now on the road here from the coast, it is announced. The bank officials and employees spent yesterday getting straightened out In their new quarters and In getting affairs In shape for regular business, which will commence at once. The bank offices are located on t lie second sec-ond floor of the bniluing and though tiie room Is small, the various departments have b'-en conveniently arranged and the bank officials believe the place will inako a good temporary home. Rater. It Is understood, un-derstood, the bank may find permanent quartern in a building of its own.