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Show Open House Saturday to Unveil New Milford State Bank Building An open house from 10 a. m. to 4 p. m. Saturday will officially of-ficially open the new Milford State Bank building on Main street, just north of the old bank building they have occupied since 1912. Favors and door prizes will be presented all who attend, and three savings account prizes, $30, $20, and $10, will be awarded as drawing prizes. The new 36x80 brick and con-' crete building represents an in-1 vestment of more than $80,000, including fixtures and equipment, equip-ment, and the interior includes a spacious customer lobby, three modern, convenient teller cages, large accounting room, consultation consul-tation room and board room. It has two vaults, a fireproof vault for record storage and the fireproof fire-proof and burglar proof cash and safe deposit vault, protected protect-ed by a large Herring-Hall-Marvin time lock door two steel doors requiring special keys, and the inner safe, for cash and currency, also has a time lock combination. More than 200 new safe deposit de-posit boxes of three sizes are available. The time lock vault door is of the same type that protected contents of vaults during the original atom bombings in Japan. Ja-pan. It is built to withstand earthquake, shock, fire, and other known catastrophes. Erected by Valley Builders of Ephraim, the interior of the building reflects comfort, quiet, and convenience. The lobby is spacious, with convenient customer cus-tomer desk in the center, tile Continued on Page Five Y ' . " i -','?'''. " " . " 'I ,"''' ' " ' rM . . ... ".' . . - ' f ' ' - - - , 5 , .,- - , " - - , - - .. v.-"'" ? - - - , .... - -.. ; : i ' ' " j Aw;.iW- . ' . T . i - - f: . . j ' ;-., , ' " ' - J f ? U t a f f - ' -j I - ' v ; ' , J f . 5 j ; ri il .' , ' s I . j f ii s . i. -i - , r ,.. ? 6 f -- .'I. -- ;--v,y. . . .... .... - S j . ' .. - .' ' . ... - .. . ' - .1 .... ... ... , .. . - i "' ' : ", . ; - i The new Milford State Bank building, which will b officially opened at an "open house" Saturday, Feb. 16 . , , . .... I " " 1 . j $ ws!'- r r 5 .-,--. . - . h " - . " ' - ; 1 W - ; j- if : - :k . . ' . ' i . - i r . i 1 I I ; 1 J Here's More About NEW BANK j Continued rrom Page One ' 'floor, subdued lighting and draped windows. A deep pile carpet covers the floor in the consultation room and board room, and the walls of these rooms are lined with built-in cupboards and shelves for supply sup-ply and material storage. The accounting room is separated from the lobby by a plale glass partition, which acts as a soundproof sound-proof barrier to keep out the clatter of the posting machines. The Milford State Bank was iirst organized in 1912, with A. F. McCauley as president. George Jefferson, c u.r rent president, was a member of the board of directors. Previous to 1912, the Milford bank was a branch of the Beaver bank. Total assets in 1912, including about $135,000 in deposits, were $265,000. In 1934, during the depression, depres-sion, the present stockholders obtained control of the bank, with George Jefferson, A- R. Hamilton, Sam Cline, Harold Cline, J. C. Smith and Sam Hickman as major stockholders. Mr. Jefferson, Mr. Hamilton and the two Cline brothers were directors. di-rectors. Assets were $265,000. J. C. Smith, present cashier, first became an employe of the bank on April 1, 1920, and was named cashier in October, 1933 The Beaver bank, which closed during the depression, was reopened in October, 1937, as a branch of the Milford State Bank, by special legislative action. ac-tion. Total assets of the Milford State Bank first reached a million dollars in 1942. Today, To-day, total assets are more than three million dollars. The Milford State Bank is one of the few Utah banks having hav-ing an unusually high percentage percent-age of deposits on loan. About 60 to 68 of deposits is always al-ways out on loan, with 257r invested in-vested in government bonds, and about half a million dollars in cash and on deposit with other banks. A sound bank, the Milford banking institution has always been locally owned, with primary pri-mary interest of the stockholders stockhold-ers centering around development develop-ment of the surrounding farming, farm-ing, ranching, mining and industrial in-dustrial area- Two views of the interior of the new Milford State Bank building. Upper, the convenient, spacious lobby, with the new teller windows; lower, the consultation room, with Cashier J. C. Smith advising a customer, and Assistant Cashier John H. Davis checking some papers. |