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Show THE MURRAY EAGLE FRIDAY, JANUARY THE STORY OF MSI NATIONAL Any Person Can Understand STATEMENT OF MURRAY CITY, UTAH Qnaututa utltU Muwuuf. aud Utah OF CONDITION ON 31, 1950 DEC. WE OWN: CASH: AS TOLD IN ITS STATEMENT In our vaults, with the Federal Reserve Bank, and with other approved banks, located in New York, San Francisco, HERE IS OUR and STATEMENT OF CONDITION Salt Lake City 5 (Our legal reserve required tells the story of how money on deposit is used how much is loaned to local firms, farmers and other individuals in commercial, real estate, personal, automobile, farm loans and other types of bank credit what amount is invested in U. S. Government Bonds, Utah Municipal Bonds, and other resources the bank has available to carry on its business, locally throughhigh grade securities-t- he out the country, and what the bank's capital structure is at this date. Compared with our report of ten years ago these figures show a remarkable upward trend which reflects, not only the general business and agriculture situation in Salt Lake county, but the confidence reposed in this institution by people throughout the whole length and breadth of the Salt It is . 1,557,075.50 only $385,298.00) BONDS: United States Government Bonds $1,857,400.00 Bonds of Cities and Counties of Utah 175,289.21 2,046,689.21 Order Bonds 14,000.00 None of the above described securities are carried on our books IN EXCESS OF PAR VALUE. More than 80 of our bonds mature within 5 years; and more than 90 mature within 10 years. THE ABOVE DESCRIBED BONDS HAVE A MARKET VALUE IN EXCESS OF THE AMOUNT CARRIED ON OUR EOOKS, HAVE THE HIGHEST RATING AND ARE READILY MARKETABLE. Lake Valley. LOANS: DEPOSITS Dec. 31, 1940 Dec. 31, 1950 $V,044,947.92 $5,622,096.48 LOANS AND DISCOUNTS .. 328,504.13 2,389,786.06 CASH 554,490.51 1,559,595.30 TOTAL CAPITAL FUNDS TOTAL RESOURCES 98,512.72 424,416.75 1,143,463.64 6,046,513.23 We have loaned for the use of agriculture, livestock, farming, dairying, home building, business enterprises, and the pri- vate needs of Salt Lake County residents Including Fixfures & Equipment 40,000.00 This item represents depreciated value of our bank building (and furniture and fixtures therein contained) located at 4920 South State St. in Murray City. The interior of this building was designed and has been maintained in order to afford our customers every possible convenience and banking service, and is constructed of concrete, marble and steel, and now contains the most banking fixtures and equipment. Our total investment in our bank building, fixtures and equipment has been depreciated to the figure of $40,000.00. CITIZENS OF MURRAY CITY AND SALT LAKE COUNTY The bank has always been controlled and operated by local men and women who have lived their lives in Murray and vicinity. This bank, through its growth and progressive leadership, has be- come an important factor in the development of Murray and surrounding area. Its stockholders, directors, officers and employees live here and spend their earnings here. Many banks throughout the United States have come and gone since the founding of this bank, but through good times and bad, through panic and prosperity, the First National Bank of Murray has followed a sound and safe banking policy and given constant service to this community. Throughout our existence, we have emphasized HONESTY - FAIR DEALING - SERVICE - CONSERVATIVE MANAGEMENT 10YALTY - and SAFETY FOR OUR DEPOSITORS. We have always attempted to pursue a straightforward, upright and legitimate banking business, and have never been tempted by the prospects of large returns to do anything but that which may properly be done under the National Bank- -- ing Act. Well known public and private banking authorities have often described the independent country banks as "Guardian Outposts of Our Financial System." We have tried to live up to this definition. is f)L fc,J07,00.vO BANK BUILDING: 48 YEARS OF SERVICE FOR THE GOOD We have no stocks or bonds to sell. Our only business we own no subsidiaries or branches. O 3DQ 7DE STOCK in Federal Reserve Bank of San Francisco 9,000.00 OTHER ASSETS 7,442.66 TOTAL ASSETS $6,046,513.23 WE OWE: DEPOSITORS $5,622,096.48 Commercial deports and savings deposits of over 5,000 Salt lake County farmers, business firms and individuals, including the deposits carried with us by the City of Murray, Murray City School District and irrigation districts situated in the area. banking. We are entirely independent and their predecessors throughout the years the present directors of this bank ar well known in this community for their character and experience. They are active, interested workers who are exerting their influence and giving their leadership for the benefit of the bank's depositors and borrowers, and for the welfare of Murray and Salt Lake County. Like The bank was founded Dec. 16, 1902, by Louis S. Hills, John C. Cutler, Melvin M. Miller, Mahonri Spencer and David A. McMillan. At that time the capitol stock was $25,000. At the end of its first year of operation it boasted deposits slightly in excess of $100,000. The bank originally was loCleaners at 4911 So. State St. Shortly after its cated in the building now occupied by owned the moved to building by Fred Wach, now the site of LaRie's and Murray opening the bank Music Co., just across the street north from its present location to which it moved in 1922. A-O- THIS LEAVES: CAPITAL FUNDS: Common S'ock 175,000.00 249,416 75, Surplus and Undivided Profits This i'em represents the capital subscribed and owned by stockholders, toqnilier with accumulated surplus and undivided pro'its which provide ad J .tional wot king capital and which serve as a protection and further security for the funds of our depositors. Eighty. three stockholders, owning of our capital stock, are residents of Salt Lake County 90 of our capital stock it owned by less than 10 of Utah. Not o single share is owned by onother corporation. $ 424,416.75 $6,046,513.22 TOTAL LIABILITIES Open an account with us at once, and let us help you with any banking or business problem. You will receive immediate attention and a friendly welcome. Bank by mail if necessary. Officers THE FIRST NATIONAL BANK H. A. BOBBINS, President IOVINA H. MC MILLAN ond T. R. VINCENT, Vice Presidents ETHEL M. TINGLEY, Coshier DON M. MC MILLAN ond FRANK A. NELSON, JR., Assistant Cashiers OF MURRAY CITY, UTAH ESTABLISHES) IN 1902 Directors A. M. CHENEY ABRAM BARKER H. A. ROBBINS Member of Federal Reserve System and Federal Deposit Insurance Corporation ETHEL M, TINGLEY IOVINA H. MC BRIANT S. STRINGHAM T. R. VINCENT MUlAN 1, 1951 |