Show Moab Monticello hanks Blinks Add To Loaning Pow Power er by Merger In a step designed to make it possible to better belter serve its communities communities com com- in Southeastern Utah the First National Bank of Moats Moab Moa and its branch bank at Monticello will soon be merged into the First Security Corp of Salt Lake City This announcement was made this week by Mitchell di dl- director director rector of the bank and local attorney attorney attorney at at- torney In behalf behall of the bank of of- The announcement went wenton on to say that First Security had obtained options to purchase 90 per cent of the stock of the two banks The move will enable the b banks banks ks to better meet the demands of a fast expanding economy in the mining and agricultural areas of Grand and San Juan counties Curbed by law on the amount of money that could be placed on loan by the bank officials found themselves unable to meet the demands demands demands de de- mands for aid to housing construction construction construe tion and expanding business The proposed move pending the final signing of papers and the stamp of approval from the Comptroller Comptroller Comptroller Comp Comp- of the Currency will throw the resources of more than million dollars behind the local banks The Moab bank had total assets of six and one half million dollars at the close of business June 30 1955 as compared to two years before on the same date when the present uranium rush was launched Directors of the bank are J J. J A. A president W R. R McConkie McConkie McConkle Mc- Mc Conkie Conkle vice-president vice Glen M. M Carlson cashier C. C S. S Thomson and all of Moab A A. J. J Redd and George M M. Palmer of Monticello The First National Bank of Moab was launched with the granting of the charter Nov 16 1916 and the first day of business business business busi busi- ness was Dec Dee IB 16 1016 1916 The origInal original inal final starters and directors of the bank were D 1 L. L Goudelock H. H G. G Continued on Page 8 Moab Monticello Monticello- Continued from Irom Page 1 Green Oreen D D. M. M Cooper V V. P. P Mar tin W. W R. R McConkle McConkie John E. E Pace and Don Taylor Only three members of this group survive These are McConkie McCon kie kle Pace and Taylor and Me Me- Conkle is the only one remaining still active in the bank The origin al at capital of the bank was Wa with a surplus of and from fron this has grown to a capital of and a surplus of On the first day of the bank was deposited all this figure In checking accounts Today Today To To- day the bank has deposits of 5 In checking accounts and in savings accounts accounts ac ac- ac counts on deposit Assets of the bank totalled 44 at the start of business and has grown into the present present 6 S G dollar business Goudelock Goudelock Goude Goude- lock was the first president and andl Martin the cashier McConkle started his work at the bank Jan 30 1917 and has been active since |