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Show EVIL ODORS TRACED TO SOURCE Connection Scented in Unsavory Smells of Packing House ' and Defunct Local Bank By, Ira C. Tichenor PEOPLE- who us? lh main highway between Salt Lake and Ogdrn might notice at . point about four milea north of j this city an odor that ia not at all piraafn to tha olfactory nerve. I Thla odor cornea from tha plant of tha I'lah Packing and I'rovlalon com- 1 panv. Thoaa who have an opportunity f . Inspecting tha book a of tha late la- I mented Merchanta bank might drtrrt i an odor of financial putrlrtlty aa dle- ' pfeHaTng tB 'He nanim nr liiimiicpa Ha in. eouaneaa aa that of tha odor from animal ani-mal refuee to tha aenee of amell. TRAILS CROSS. TIS SAID. It la declared that "ther. la a atrnnc connection between tha tarn equally repumantjhut differing, odora. and that -the rralr-ff one mlghnead ol-..: ractly to tha other. Off Ira ra of tha ta or now ara aald to ba camping on thla trail, aa wall aa erveral othara, and It la tha confident asportation of thoaa ronveraant with tha affaire of tha Mrrchanta bank that tha raaulta of thair obaarvatlona will ha preeented In concrete form to tha day "for the purpoaa of Investigating aid Merchants bank. Its officer a. dl-rwrtora. dl-rwrtora. agents, tellers and any per son connected therewith, or any other matters which aald grand jury might desire to Inquire Into, or which the law requires the aald grand jury to Inquire into," aa the formal call atatea. BANKER AND BUTCHER. . Previous to the failure of the Mer- I chants bank th business cards of John Plngree and Gege K. Ford might properly have read "Banker and Butcher, for the president and aecre-tary, aecre-tary, respectively, of the financial institution in-stitution then and now occupy thoae poertlons with th Utah l'acklng and Provision company. Th Interlocking directorate of theae t widely differing institutions la said tot have long been th subject of com ment by bus) nee and financial men generally In Halt Lake, hut H la the) expectation that aa a result of the ap- I going concern and our-Intereata may eventually ba disposed of (preferred slock) without loaa. whlla It haa been tha policy to take a reaennahle loaa at any tlma that tha security can be retired. Root value. 167.500 -MORTGAGE UNMENTIONED. It will ba noticed that tha report doaa not atata that tha plant waa mortgaged for 110.000 several yeara ago to M ra Agnea fnnant, aald to he a aiater nf Adam Pattereon. Vlca Dreet- parent Interlocking1 of financial aT rangements th subject will form a matter of legal Inquiry. , HERE IS REPORT. According to a report dated April 14 last, th following; appeared In relation rela-tion to th Utah Packing and Provision company: "Stocli certificate, preferred atock. No. & and 29 and ISO gharea, respectively, re-spectively, par $1 per share. Thla concern con-cern own its real estate and plant worth about 187,00. Carrie merchandise merchan-dise stock and account and note receivable re-ceivable of about t&fc.OOfl. Owe llO.OOO -for money borrowed from Klrst National Na-tional bank nf Ogden and Adam Fst-terson- and thla hank carries the concern con-cern up to 92&.0O0. Th preferred atock of th corporation la $ 1 01.400, which, with this exception. I divided Into small holdings, principally among 11 restock men, Th preferred atock . haa all been sold at par valu and . aom I now being; sold at par, Th guaranteed dividends are fixed at T per cent, payable annually. It I a dent of the company. : At th time thla report wag made It waa at a ted that "Iht hank carries th concern up to l'6.00.M It doe not state to what extent. If any, the bank wa carrying Indirect liabilities In the form of note signed by various parties and secured by atock of the parking company. FREQUENT METHOD. Thla form of loan la declared to hav been frequently resorted to and that at the present time th packing company com-pany la Indebted to th bank. In on ! form or another, to th extent of more than 1100,000. Attention haa been called to section IT of th banking act of 19.1, which provide. In 'part, that "each director of a bank, when appointed or elected, shall lak oath that h will, n far aa th duty devolve on him. diligently and honestly administer th affair of such bank, and will not knowingly viola vio-la t or wilfully permit to be violated any of th provisions of law applica-ble applica-ble to such bank |