Salt Lake Telegram | 1936-02-28 | Page 26 | Big S. F. Bank Sold by Atlas

BIG BID BI S S. S F F. F BANK SOLD BY ATLAS SAN FRANCISCO FRANCSCO Feb 28 23 UP U- U M- M Control of the 2200 AmerIcan AmerIcan American Amer Amer- ican Trust company crossed the continent continent con con- from New York to San Francisco Francisco Fran Fran- cisco today In an 1800 deal Fred T. T Elsey president of ot the bank said a syndicate of Investment Investment investment invest Invest- ment firms had purchased 60 shares shares shares-ot of capital stock of the owned by Pacific Eastern Corporation Corpora- Corpora ion tion ton which is I controlled by Atlas Atas Corporation of New York The syndicate headed by Blyth lyth Co also took shares hares of oC new preferred stock stok which will vIll 1 be offered to the tho public This 0 of new preferred will wi be sold to raise funds for Cor or purchase of the original preferred stock now held by the Recons Reconstruction Finance cor cor- Agreement of the to the te transaction signed signed-ln Washington Washing Washing- was wa ton today Resources es at the last report De De- December cember 31 1935 were deposits deposit These figures figure's rose from in resources and arid in deposits deposit during thelast he last year The bank operates in northern California with wih headquarters headquarters in S San Francisco F. F B. B Odium president of ot Atlas Atas Corporation said his hi firm will wi retain re- re tam aln tain the third one interest in com corn cornmon common common mon stock of the bank as an invest ment