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Show nmmmi suvs cowl ' Or UTi! NATIONAL i - ' . 'r- t . f . - Surprise Sprung in financial Circles; No Change in Management of Institution and No Consolidation With PlcCor-nick's PlcCor-nick's Bank. A surprise was sprung. in financial circles "today by the announcement that W. S. McCornick had purchased a controlling interest in the Utah National .bank. .Tha purchase, it is stated, was to afford a greater scope to the McCornick banking interests, but is in no sense a cpnsoli dation with the private Hank of McCornick & Co. The consideration for the controlling interest is not stated, but is said to be in the neighborhood of $80,000, The deal was negotiated through the George M. Cannon company. There will be no change in the management of the Utah National, it is stated. , . The controlling interest in the Utah National bank today passed to W. S. McCornick. This announcement, given outt noon, caused surprise in financial circles. cir-cles. The passing of Jhe control in the Utah National is said to be anoutright rurchase and is no sense a consolida-ion consolida-ion with the private banking house of McCornick &. Co. 'While no information will be given out as to the purchase price, it is said that it will amount in the aggregate to about $80,000.' The Ltah National bank is capitalized capital-ized for $100,000 and has average deports de-ports of $1,000,000. - - The Teason-for the purchase or the Urh National by Mr. McCornick is said. to be the necessity for a wider field of operations for his varied "flnan- cial interests, more than is afforded b the laws governing private banks. , , The. deal has been pending for several sev-eral weeks through the George M. Cannon Can-non company and was finally consum mated today.' Mr. McCornick said to THE TELEGRAM TELE-GRAM this afternoon that he. and hi associates had purchased the control ling interest in the Utah National bank. Mr. McCornick declined to state the amount involved. He announced that the bank would stand on its wn foot ing and with the exception of a few changes in the directorate the officers' would remain as they were-at the prcs ent time. - ' ' The officers of the Utah Natioaal bank are: - Anton -JL. Land, president v i W. Nibley, vice-president; Williarm H. 8mart, second vice-president; Joseph Nelson, cashier; A. C -Strong, assistant cashier, . : -. |