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Show DESERET NEWS AND TELEGRAM, Ztons First National Salt Lake City, Friday, April 22, 1960 A3 made us an offer to purchase their stock in the bank if they company as in the past We which you have in mind to inrum State Bank. Farmers and Merchants Bank of IOgan, the Churchs stock in the Zions so desire. They have extended deem it wise and proper, how- augurate now and in the fuThatcher Brothers Banking First National Bank at a price this invitation to us. It is con- ever, for us to tender our resig- ture. firm and was associated with Continued from First Page to us seemed definitely templated that we will accept nations at this time as officers To continue many of its fiwhich Marriner S. Eccles in the First National Bank in Ogden. He interest therein. It has been fair a price of $67 a share. this invitation and retain our and director of the company. nancial relations, It is probable member this fact that has made it hard- All of these men have a broad own personal stock in the bank We sever our connection with that the Church will organize has been a long-timof the American Banking As- est for us to consider seriously background of experience in rather than to dispose of it at this great Institution with sad- its own bank. It Is not planned, sociation and served as its na- the step we have now taken. business and finance. They this time. The purchasers, how- ness in our hearts. We have however, that this bank will In tional president in 1937-38- . We still had the matter un- have all been eminently suc- ever, are committed to pur- become attached over the years any way be competitive with Church Committee der consideration when, unso- cessful in their own right chase ceeding President McKay and officers your bank or any other bankother to the stock of the directors, any that position, with the Church He was recently appointed licited, a group of our citizens, throughout their lives and are so have who loyally ing InsUtution. leader continuing as board as chairman of the newly for the most part local men. held in the highest esteem stockholders who would pre- employees We extend to you our best sell their present stock and efficiently sustained us fer to chairman. both and for Comnationally locally formed Church Finance and we now ask you wishes, at as the this of date, holdings Mr. Flint is active head of mittee, having served previoustheir ability and integrity and the years. We are to accept our resignations throughout ame to Church as the the Flint Distributing Com- ly for many years as chairman trict presidency and then character. This offer was price paid especially sorry to have to herewith tendered, and to feel pany which he established In of the Church Auditing and district president of the North made the more attractive to for thplr stocl- sever our connections with the free to elect to the Board the now the concluded have of District Central 1932. He is also a director of Finance Committee. because they voluntarily Carolina customers here and purchasers nominees, Messrs. bank's Messrs to sa' this stock Kennecott Copper Corporation, Mr. Adams has also been the Central Atlantic States committed themselves to con-- ' Leland B. Flint, Roy W. SimItinue our banking institution Leland B. Flint, Roy W. Sim- throughout the country, whose mons The Lockhart Company and Identified with a number of Mission. and Judson S. Sayre as we have deeply apS. who and Judson patronage and Bank Sayre as a owned and Zions the New Hemisphere Life In- other local business instituSavings locally the shall we of the representatives Personally their and themselves preciated. the surance Company. He recently tions and has given long public Trust Company, oldest of aged bank. They assured us represent continue to have a deep Inter- group who made the sale of 'associates transaction this in were which no in banks material the that three change as in a member of the service to the community resigned est in your growth and de- the Churchs stock possible unboard of directors and the many capacities. merged in August 1957 to form underlying policy heretofore We rf delivering the stock bank to the held the Church was emby or velopment We feel assured der such favorable circumfollowed its officers or executive committee of Walker He was born in Idaho Falls. Zions First National Bank, that strengthened by your stances. to transfer this for morning Bank and Trust Company. Idaho, April 10. 18S4. H" was organized in July, 1873, at a ployes would be made. They Our formal resignation, bearnew associates you will con of office themselves also purchasers. committed little to in the a meeting Mr. Flint also is on the board married in June, 1911, to our signatures, is attached the to ing add to Invitation We the tlnue materially The the appreciate and conservative pursue of regents of the University Nebeker. They have had Piesldent Brigham Young. to constitute your our of state hereto, advancement and new stockholders of the city, of Utah and general chairman six sons and daughters. pioneer Church leader was sound policies which have to act upon the request as and nation with the many proto remain of the old, many the at characterized this his banks and presided of the schools Medical Center Mr. Webb has been president present herein incorporated. ortory and the history of its officers and directors of the gressive programs and policies Fund Drive. He is also of Zions First National Bank meeting and proposed the of the Utah Sym since Jan. 14, 1959 Prior to ganization of the bank by that predecessors from the beginProvo Ogden Sol! LiV City that he had served since 1957 name to serve the fast growing ning. phony. Center St West We South (2 the that entertain 2449Woshlngtonl!vd. Second Main of hope community. He is a native of Kaysvtlle, as senior vice president Dr. la Varna Daly Dr. StpKn T. Dearden National Bank and the perpetuation of this bank The Or. Don C. Ja First where he was bom on July 31, Native Of Ogden Optoaatriit la chars Optenetiat is (Htrye the Utah Savings and Trust along the lines above menOplaaiatnt! la charj. 1906, a son of George B. and He is a native of Ogden and Company were also involved tioned will insure in a better Margaret Blood Flint. With his was graduated from the Uni- in the 1957 merger, to create way than any other we have wife, the former Dora Thorn-le- versity of Utah in 1929. He Zions First National Bank. discovered the least possible of Layton, Utah, he resides later attended the Graduate Bank was concern to the banks deposiat 1380-13tEast St They have School of Business Administra- The First National first chartered under the na- tors or stockholders. The purtwo married daughters. tion at Harvard University and in 1890 as chasers of our stock invite all Mr. Simmons is a native of served as a member of the tional banking act the Utah State National Bank. other stockholders to retain was where he Portland, Ore., Review Business Harvard born Jan. 24, 1916. He has re- Board in 1931. He Is also a sided in Salt Lake and Davis graduate of the executive procounties since his early child- gram of the School of Business hood and presently makes his Administration at the Univerhome in Layton, with his wife, sity of North Carolina. , Urge volume means lower costs! This is our success story the former Elizabeth Ellison, He came to the Zions First and their six children. the LOWEST POSSIBLE PRICE for Glasses or Contact lenses. National Bank in 1957 from his He is president of the Lock- position of senior vice presihart Company and the Key- dent of the Wachovia Bank stone Insurance and Invest- and Trust Company of WinstonServing thousands ot patients in wan is proof that your ment Company, both of Salt -Salem, N.C. He had rvice Lake City, a former Utah State served with the federal governsatisfaction is our policy. Bank Commissioner (1950-53)- , ment in Washington, D.C., former executive vice presi- from 1933 to 1940 when he beWa compound prescriptions with tha highest standsrd ol dent of the Bank of Utah at came associated with the North and is bank chain. Carolina presently quality is never sacrificed to Oder Ogden manship and materials and director of the Harvard Club Honor POSSIBLE PRICE LOWEST our you vary Bank of Kearns. He was given an "OutstandStake High Council ing Achievement in Business He is a member of the Lay-to- Award by the College of BusiSkgft ness at the University of Utah Stake High Council. Vsle "Busiwas named Mr. Sayre is chairman of and last year the board of the Norge nessman of the Year by the Harvard Business School Club Sclaatilia aye aunnataa; r Division of the cxi pKia$ Mrs. With Utah. of the Webb, including saantAc tiagla naaoo, dnr tenia Corporation of Chicago. former Olive I Complete Mr. CXIT Wright, tw ye (lamination He is also a director of Webb resides at 2981 St. large aalwta at tram; M A"1 the Chicago National Bank carrying can. it a Circle. have They and on the board of governors Marys son and daughter. of the Chicago Merchants and Mr. Webb served for several Manufacturers Association. years as a member of the dis He has been prominently identified with the manufacture and sales of appliances. He was formerly general sales manager of the Kelvinator sales Corp., and appliance manager of Montgomery Ward & Company. From 1937 to 1941 he was vice president in charge of sales of the Bendix Home Appliances, South Bend, Ind., and was president and u chairman of the board from 1941 to 1951. He was a meruntil chandising consultant 1954 when he became president and general manager of Norge. Lives In Indiana Mr. Sayres home is at 2928 Lakeshore Drive, Michigan City. Ind. Mr. Adams comes to his new position with years of banking experience. He was executive vice president of the Utah First National Bank from 1921 to the time of its merger in August 1957 with two other Church banks to form the new Zions First National Bank. At this time he became president of the newly formed merger, serving in that position until his retirement in January, STATEMENT Business Group Buys Bank Stock Continued From First Page unsolicited and uninspired by the Church, was made by a local group of business associates on terms that seemed to the Church, fair and equitable." In commenting further on the stock sale. The First Presidency expressed the opinion that the "banking Institution could and would in all prob--! ability render even a greater service to the Intermountain ! Area with an ownership rep- resented by leading business- 1 men of the area in preference to the former ownership and control which was vested In the Church." The First Presidency was of the opinion that the new would be capable of J providing services required in the area due to a material change in the ecenomic structure, and that the Church could well be relieved of the which it responsibility at a time when its direct interest was important -in the operation and develop--men- t of the economy of the . ' own-sershi- p d 'area. e The First Presidency also assured the new owners of .their general interest and the hope that the new owners , should and would have the continuing support of their present stockholders and - Financial Position The First Presidency also commented on the "very financial position the bank occupies and the enviable reputation it enjoys and upon 'the loyal, efficient personnel of the bank, both past and pres- ent, with particular appreciation and compliment to the 2 bark management headed by Webb as president for the 2 progress they have made. The three new directors, Mr. Sayre, Mr. Flint and Mr. Sim- mons, met with executives of the bank in the banks offices ", prior to the luncheon for Salt ; Ldke businessmen. i Mr. Flint and his associates announced that there were no immediate plans, whatsoever, J of making char ges in the banks present officer and em-- . ploye set up. They plan, lie said, to continue not only the same personnel but to main- tain the same general policies. Prominent In Business Mr. Flint, a prominent Utah businessman, was appointed last November as president of - the Hotel Utah Company, sue - 1 T " - man-mon- s ' Lu-ell- j vice-chairm- y h (Kla.a GLASSES n CONTACT LENSES Borg-War-ne- 59s" i SATURDAY IS MR. PAX DAY AT SEARS! FREE DOOR PRIZES! SPECIAL COMBINATION OFFERS! MANY SEARS DAYS SALE PRICES! ?r AT during NATIONAL FENCE WEEK the word from Joe . 'How to Save Money' leftlr tew let Ut MEN'S GOODYEAR HKIS pr. n V . . Mitzi Bailev 1959. 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