| Show KNOX NOW HEADS HOUSE Charles S Burton B I on Retires as rs at Annual Meet Meeting ing in Today Today I NELSON IS VICE PRESIDENT 1 U K H Young Is I Xo Xu of ur Com COl c Work of l u t Vein At t tho Iho annual beginning at lt 11 today the l Sal Salt banks In their alliance AS tho house home new for tho Iho coming year eal Tho he election was en In Important n none one In that III It marks m thu passing p of tho administration which t has carried Salt finances In through thio ili the most trying tr nS period In thelE history anil amI the begin beginning b ning of a L new no a administration shut n just lit the tho time when th panic year eul of ot Is passing Into memory momon with wll Its Is cossor COSOI in S ulton cashier C of ot the State Bank Banle of as a president dent In tavor of or Frank I Knox TI X cashier of the n O tho TM Is I not net tilled IId by 1 election electon but rotates rottes from bank to in thu clearing house houi by b pro provision provision vision of or the bYlaws The Tho same ame holds for fOI the tho selection of ot vico president and a To these pla s Joseph JosephS S of or the Utah National bonk and Hyrum S Young cashier of the National were selected s re respectively respective In t formation oraton of or an executive com committee ml ee H II different rule V re I 5 how over and 11 secret balloting prevails while the th men aro heln cho en This committee the tho real power of ot tho banking baking Interests of the city el and ane the president nets act as ts Its Is chairman EXECUTIVE COMMITTEE COM On this committee ee tho Iho men selected W S of Co L I II I Farnsworth of Walker Bras Bros bank banle C S S Burton of ot the State Bank of Utah and U S of or tho Deseret National At Al regular meetings dur during UI ing the coming year ear this committee tee will wI consider banking problems as they the affect Salt SaIL Lake and When the resent present struck c Salt r lt tf lier Mr It was the executive exo committee ct ot the tho house that had m Rt deel ly h at III heart te the problem of out what hat had occurred and the resultant problem of at finding out what to do to meet met It ItA I A series of ot dally ll meetings which were long and nd protracted brought out outa a decision to Issue the clearing house guaranteed cashier chocks and their brought n 1 power to 10 local loo commerce to continue on Its ls way a meet meetIng meetIng Ing the monthly and weekly paydays ln and ond purchasing supplies as I needed to keep up Holiday Holda trailIng trading In Salt Sni I ako wan dono largely largy with tho 11 yellow elow bills hl of tho local hanks Now yellow cl w gold goldis gol golIs is more In evidence cIl ence The ho final retirement of or the thc cashier checks Kald Hale C S Burton this morn mornIng mornIng Ing is a I matter ot only a I short time They arc gradually ual being withdrawn and at aM onn lS is conditions Iette in t Now York tho th adjustment of ot them In other othet cities will wi be bo n a matter of ot on only onI ly I n I few clays STATE ORGANIZATION Tho clearing house Is fathering fathering a I movement for tor a I organization ot oC that there aro now enough email sinal bunks banks In tho various towns to make Mich an nn organization worth orth while Whenever opportunity Is I afforded a a convention of at state otate hank bank bankers hankers ers will wi bo called to carry carly the move movement ment to completion In III tho mount Imo It Is being matured by h a n special com committee ot which Grao Groo Is secre secretary tary ta 1 In Salt Lal o the organization began In 1890 Ith J K E Doole as lS president dent IS 1 banks for tor members Sinco then thell four of tho banks have lle re t 1 1 fud thelo aro now eight Among Amon themselves banks arc aro known y number and Ild not noL name Thus a IL telephone conversation between Jc Mc hank tho thu Bank Banle of o this Utah something Ik I Hello Holo Is this number 3 Yes Well oi this IH Is number i talk talkIng Ing rIm DOZEN Tho original 12 In the tho of thul numbers Wells Panto Tho he Des orel Co T U n JOle BIOS the tho Cummer tho Utah and hank Iho Na tonal tho Bank of o tho U National Bank of ot thu tl the Hank Bank of ot Commerce and tho Utah Nn Tho Thu eight surviving still tl while NOH 1 I 4 8 and III 11 1 lira 0 out of oC ut uS o oTho Tho rho DeloId tho Iho Hili anil rull Co o II I hank and tin thc Bait Laid Alto and On nio ai not of ot tho Clearing hut through oth other I er 11 with tho exception of or the Iho lust lou vho elvel as of nf Iho flouring houN IH O are 06 J K J Dooly Doly I H 11 1891 1801 W WH V VB B H T 1 11 I 1693 M 11 J 1 ChOO John W Don n I HOGI 0 If J M I lf w H Field hip hipman man 1000 J 1 15 I 1001 1011 U 1 H W V S H M 1003 1903 H n HM nf M f Walker 1304 E W 1007 Myron Orno 1 und Ild C e ti 8 I 0 y 1 1 j ji y y I i y I I Iy 1 y y X X X X XV XI y V I V X I A AX V f Vf 1 I i it I V t V VV I y y V 1 I Iy y y X X XI y I X X 1 I Iy ICHARLES y CHARLES S BURTON Who ho n Head of or the thc S of ot Local tho Iho Crisis CIs of ot l O Ou u |
