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Show Notice of Change in 'Banking Regulations St. George, Utah, October 1, 1928. TO OUR PATRONS: At a meeting of the members of the Washington County Banks held September Septem-ber 22, 1928, it was unanimously decided to put into effect, beginning with the month of January 2, 1929, the following rule governing checking accounts averaging less than $50.00, which is as follows: "On all checking accounts averaging for the current month less than $50.00, on which one or more checks have been paid, a service charge of fifty cents (50c) per month shall be made, and the same charged to the account not later than the close of the current month. "This charge is optional with member banks in relation to the accounts of Church or Charitable organizations." The bank representatives approached the question from a constructive and equitable point of view and gave it very careful and conscientious consideration. It was the desire of the banks to offer every possible service in helping create, build up, and maintain a sound, active and profitable business community for this territory ; to encourage the free and rapid circulation of money and inter-change of values, and to stimulate the operation of the wheels of commerce. They had prominently in mind the effect upon every person, firm and corporation corpora-tion who desired the service of a banking institution. They appreciated the fact that in the operation of our modern business machinery, the banks perform a very prominent promi-nent and indispensable function; providing receipts, vouchers, and records, as well as a safe and convenient depository for funds and valuable documents for customers. They further realize the fact that for a bank to render to the community the greatest possible service, it must be operated in a careful, sound, and businesslike manner, eliminating all conditions which would result in weakness and financial loss. There is a direct loss to the bank in carrying an account with an average balance bal-ance of less than Fifty Dollars (50.00), and to cover this loss it is now a very general custom for the banks throughout the country to make a service charge as provided in this ruling. Also due to the expense entailed in handling checks which we are forced to return re-turn unpaid because of insufficient funds in the account against which they are drawn, hereafter a charge of Twenty-five cents (25c) per check will be made for each check so returned, said charge to be made against the account on which the check so returned is drawn. This charge also will be effective on and after January 2, 1929. This action conforms with the rules of the various clearing houses throughout the state and country tne on'y difference being that they fix $100.00 as a minimum balance without charge. , Your patronage is appreciated and we hops to merit your future business. Yours very truly, BANK OF ST. GEORGE DIXIE STOCKGROWERS BANK Advertisement) STATE BANK OF HURRICANE |