OCR Text |
Show 11947 IS TOPS IN UTAH PROSPERITY If the total assets of the Banks of Utah can be taken as an index to the economic , status of the state, bank records for the year 1947 indicates Utah hit an all-time prosperity high during that period. State Bank Commissioner J. Melvin Knapp reports that the total assets of the state's federal and state banks December 31, 1947 was $592,974,543 compared with $583,980,563 for the closing day of 1946. Demand deposits' of individuals, partnerships and corporations for 1947 showed a decline indicating that individuals and corporations are drawing on savings to meet living expenses or to build and expand. A disposition by Utahns to do considerably more borrowing during 1947 over 1946 was indi-! cated by Mr. Knapp's report. |