Salt Lake Tribune | 1957-11-19 | Page 21

w ’ -- m w y a -- tw if i Tht Salt L at Tribune Tuesday November Up and Down the Street New York Stock Market 3 Banks Expect Merger 4 - 11 To Lift Loan Capacity —- “ — - By Robert WV Bernlek Tribune Business Editor in Noon 1pm 1pm 1pm Total — -4 1 ltd Rail High got) 4 19 48 y NEW YORK Nov Industrials Railroad Utilities Stock 429 S3 60 600 Note on Book' Valuation of Stock It Is stressed A committee of seven Including fwo directors from each bank and Dr William F Edwards) financial secretary of the LDS Church worked out the details of the merger agreement In arriving at ratios of exchange of shares they considered: (1) book values (2) appraised values of assets of the banks (3) relative earning pqwer of the banks The merger agreement furnishes the full information on the values of the stockholders equity in each of the banks But It does not contain any information on total deposits or total resources of the Zions First National Bank this deposit and I'esource information will be released at the time of the stockholders meetings Is expected the book values of the three Institutions based on information In the merger agreement discloses that stockAnalysis of holders of First National Bank with assets of $5088553 have shares now equal to $16962 each in terms of book value The book value oflhelrnew shares in Zions First National will be equal to $18637 a share Stockholders of Zion’s Savings Bank & Trust Co with assets of $5200522 hav$ present stock with book value of $17335 a share Book value of shares converted to Zions First National will be $16654 a share Stockholders of Utah Savings and Trust with assets of $1606200 have stock at book value of $53540 a share Converted to Zions First National book value will be $43618 a share a — believed that any decrease In the assets position of Zion’s Savings and Utah Savings will be fully compensated for by the Increased earning power of Zions First National Bank 14 stock With a larger Issue outstanding of Zions First National stock shareholder will be presented A greatef '‘liquidity” and marketability I In case of Utah Savings and Trust stock of that bank has not sold In recent years anywhere near its asset value so far as can be determined from existing records A part of the reorganization of First National Bank into Zions First National Bank Involves an increase in the number of directors There are now 15 directors of this bank T v " - UlAMLM OIL & Nov 18 195T Approx BldiAsked 1 Anticline Atlas Bapco Meat Beehive Ur Big Horn Big Indian Rl Finer OU Black Hawk Calamity C Caribou C rlbou Mg 8ent ftClilf Col U Mex Comancht Congress Bv Consol lr Oynamlg DIAL EL9-761- 4 T a 4- - BOO ' 42 22 30 39 43 22 40 40 76 03 4 J 76 06 36 30 69 60 07 04 itock 01 09 1957 49 23 30 41 33 indtx: mu 1IBT 42 2 22 03 30 12 52 61 87 84 New York Bond Market 3933 Monday’s Quotations Servlet Dow-Jon- Volume Close Chn Balt ft O Gen Mtia 88 600 49 200 28 600 J Northrop Air S O N 27 36 48 22 22700 -- 6 V --- 1 S Vi V Monday’ Quotations Sale In 100C1om Che ACFlnd Admiral AirRduc AllegLS AiliedC Alliedbtr AUiaChl ALCOA AmAlrl Sale In 100Clo Chg 151 9 I ll 141 31— ParrbNt ir 4J‘4 FchldfA JamiiyF t eadisQ litroi ire8tnt FoodMh tryrdMtr recpiSl k AmiirdF rued i CnActp Genbk UuUya Gen El Unroodg GnMtr Geufitrc UenidcH GaPac Csoourctt uoouyi Grace W Urayanft GtPkliO 29 82 44 42 70 1421 10 2 14 5 9 168 S8-- BoeingA Borden BrgWar Buc Erie BuddCo IdealLm iilCciu inuKay inapircp In UttKei IBM Burllnd Burrgha CllahnZ CaluAH CampSp CanDry CanFao CaseJl CaterpT Celaneae Celotex CerdePa Intnarv IntPaper IniShoe Inti it f IslCLoal JhiisMu JnebLgh JoyMtg KaiaerAl KanCb Kelso H Knncctt KiesgcC KressCo Kiower CMSPAPj do pf Ch&NW do pf ChRIAP Chrysler CITFinC CitiesSer ClarkFq ClmxMo CocaCol Colgate ColoF&I ColBrdA ColGas ComCrd ComSoiv ComwEd ConCop ConEdii - H 41a - 1V4 1 214 281 112i 68‘ 18! 39 - 391- S4V- 50 ia 191 4 41 23-- 4! 214 88 79-- 18 411-- 2 5 1 30 b b 281 8 jJi-20 14i 4 22 u8 4 19- -2 -4 19- 9 4 32 - 4t 43 30 1- 3 1 - a- 1 111 - lb - 49 2 38 17i 8d 24- 15 30 :!? 04 50 04 15 01 4 62 1 11 at 1 65 01 02 08 03 14 02 05 29c 200 at 90c £ait Standard 1000 at Sc Grand Dapoait 5 000 at 1000 at lc Llttla May Malastla Oil 2000 at 5000 at 3o Moacow 1000 at lc New Park 100 at 70c 0 North Standard 1000 at Park Bingham 1000 at 1000 at 3o 500 at Park Konold 4000 at Proaper 1000 at Silver Shield 1000 at lc Sioux Mmei 1000 at 1VO Tlntlc Central 1000 at 2c Tar Baby 5000 at 15c 1 OOO at Yankee Conaolidated Chicago Mercantile Exchange la Vi V lc 1 1 1 2 V TennCP TexasCo TexGlfP TexGlfS Texlltll CIRB Williiton CraneC Crown Z CudahP CurtissW CutlerH DeccaR Deere DelAHd Dcllnc D&KG DetEdis DiamM DomeM DourAc DowCh Dresgrln DuPont DuqLt EastAIr Eafttman EatonMi EJAutL ElPasNGI EmrsnR 3000 Nov Jan le Fab March Bid C 8 8 27 3 51 4 23 14 51 10 18 4 11 do Stk Electronics JnV Fidelity Fund Fncl Ind Fund Founders Mtl Fundamental Inv Com Stock WatAirB WstnxEl WhlStl WheelSt Woolwth Wrthytn Yale AT YltnSh Zenith Keystone C do r 2 B 3 do B 4 do do FKt 2 do do do rs-- a do do r-- s F-- IS (AP)— Cor-n- 1288 342 754 23 21 10 64 8 88 8 32 12 1104 40 02 08 60 Knickerbocker Fund 820 Mass Invest Tr - 8 69 Man tnvst Growth SIS 8 10“ Mutual Inv Fund too Nation-Wid- e 18 83 See 6 98 N Sec Pfd Stk Berk do Income 490 8 72 do Stock 12 58 Pioneer Fund 11 09 Putnam (Geo) Fund Telev Electronics United Accum Fd United Continental United Income Fund United Science Fund Value Line Inc Fd Wellington Fund 9 78 9 70 827 IS1 190 4 31 7 78 18 59 81 71 81 73 14 53 8 62 1100 7 21 170 loss 84' 79 18 21 7 81 SOO 838 734 13 12 10 10 6 65 05 64 9 23 71 54 85 9 4 73 12 83 UNITS NEW HEMISPHERI INSURANCE STOCK t 1 CALL HU 1)0 I 3309 to 91 Il C UtML There isn't a man or woman Potatoes: Total Friday 739 Saturday Sunday 9 arrivals 225 tiack 352 Supply moderate demand moderate market steady Track salee (100s) US 1A- Idaho Russets U S extra 1 3 95 U S 1A 0 per cent 10 ounce and 80-3 3 85 larger per cent 10 ounce and larger 2 cere 3 65 bakere 10 ounce car 4 25 Idaho utility 3 3 15 balre mesh 10S 4 4 50 Street ealee (100s) U S 1A: Idaho Russets 4 00--4 50 ome U 8 extra 1 4 50 Idaho utility 3 35 bakers 4 75 live 10s In master containers 2 40-- 50 paper 60s 2 25 04 05 01 02 01 02 03 01 05 08 14 01 21 03 44 00 00 19 20 17 01 24 04 48 00 00 23 Oi GAS QUOTES — i— Report on Big Finer Elaterite Bif Horn Gold cloud 90-- this advice 20-2- 5 00-- 35-- First 50-- fJX: 18 fAP)— Spot UTAH'S OLDEST MUTUAL FUND SPECIALISTS 19 West South Temple Salt lake City zinc 10 allver 90 625 an unusual investment opportunity " Our illustrated report is available on request Ntf obligation of course Resrg CltOWER BROKERAGE CO Established 1899 160 South Main Salt Lake City Utah Dial EL 11 02 22 01 01 00 telle 004 4 Tete Pinero Producer Fadomck Ran Rex Republic INC TWX IU-1S- 0 I Utah Dial 89 Egeksege Plees Sell Lake CUy Utah (r ini — j DA 11S87 My father passed way— suddenly! Being the eldest son the responsibilities of his estate fell on my shoulders What a task it has been! I’ve learned the hard way and I've made mistakes which could have been avoideej I feel so keenly about the problem I’d like to offer some advice— to everyone (You may publish thi letter if offering Safety—Dependable Income — Growth Mountain Fucl Supply Co El Rlctf Federal Gold Cloud Great Velat Green River Gunaite Homestead Int OilAMet Jolly Jack King Oil Knapp Uraite Lisbon Lucky Mo Lutah Mayflower Moab Uran Mt Peale Old Jato 50-1- 1 90-2- UP 22 22 00) 50-2- (50 Lk Bits) 1 80 IT 1ST 1 93 1 1 58 87 1 I SO 1 88 178 118 88 1 8 good J 275-40- lb 0 50 21 mar-Ins- ly 300-43- 0 00-1- 6 lambs (till unsold Markets in Brief ' II (AP-V- NEW YORK Nov Btorka — Lower) steels and rail! flva giound Bonda— Mixed government dedtagk Cotton — Huher geporal demands CHICAGO Wheat— Mostly lower Com— Higher OatfrSteady Soybean-Hifhat -- lnh demapd Ing ' - - - ? ' Hog - Lower CatUe— Lower Earnings NKWYflRK (AP)— Ell Lilly ft To reported a net profit of 9287b 210 equal to 51 38 t ihara for the nine months ended Sept 80 This compared with 523 893 089 or 13 04 a ahare earned by tha drug company In tha Ilka period last year Lionel Cera For ulna months ended Sept 30: 1959 Net Incomw 9 581984 1232118 A share 1 71 81 cents Fob Americas World Airways lae For nine month ended Sept 30: Net Income I 7 509000 $13230 008 Ashore 121 111 Heatbleed Key sit y Co For Dins months endsd Sept 10- Net income 9 3348190 $ 3939878 A share 3 99 3 94 eaahlas Mlalog Co For three months ended Sept 30 S Net Income 37653 72999 A sharo Five cents Two cents Alemlnam Goads M(g Ce For nine months ended Sept 10: Net income I 1527000 $ 1508008 1 48 A Phare 1 57 Emaira Rtata Oil Ca For nine months ended Sept 30: Not Income $ 1092523 $ 948101 A shore 55 cento 48 cents Knett Hotel Cora For nine months ended Sept 30: Net income I 665 1201 $ $78307 A share 47 2 20 't Eg Market LOS ANGELES Nov IS Eggs: Wholesale uncandled producer for size 40 per cent grade AA graded49tk-50)9 AA medium 46hn AA large small not quoted candled to retailers fob distributor plantt (delivered 19 cents higher) AA extra largo 571310(4 (in A extra largo 54(4 57(4 A A largo 53(4 1411 Mt A largo 49(4-51(- 4 48(4-51(- B Urge (9) 42(4-44AA medium A (31) A small 35(4-40(medium 45(4-47(- 4 In cartons to consumers AA Urge 55-5-5 A AA medium 5 largo A medium 9 A small 45 60 Poultry: Fryers set ranch) 17 2ft 5 fryers caponettes (at ranch) light typo hens hens eroae 4 young hen turkeys (at ranch) 34(4-3young tom turkcra (at ranch) 16 Butters Prices to retailer grad AA B 88 88 A Receipts: Eggs 9800 poultry 350000 butter 170000 50-8- 5 55-5- — Potato wira in- (ABUSDA) 50 3 good Stocker gteer calves to 25 00 and gill fairly Hogg 650 barrow active steady to strong with last waek'g cloae No 3 grain fed and 229 lb 19 25 mixed grades 240 lb 18 50 few lb sows 15 00 Sheep 10 iupply comprised feeder ' 10-- 8 87-- 07-6- ( - J Compltt Professional ‘ Travel Service to anywhero In tho world Ne Sorvcg Cfcarfo Jock Thomgi Travel Strvlct Nswhovse Hofei IM 1040 IM Sugar House Offra tooth I Ilk law rk HU4J241 The Most Amazing Stock Market Amazing because itB so big f Amazing because it’s id little known — Ve mean the market for stocks and bonds The market where more than 40000 issues are bought end sold The market that runt the whole invest ment gamut— Government bonds bank aifd insurance company stocks industrials with Impressive dividend records growth itocks and outright (peculations To many a seasoned Investor this market represents the richest in vestment potential the most fre- quently overlooked source of real opportunity But where do you find it? j Gentlemen: nonferroua metal prices Monday: copper 25 27 cents a pound Connecticut Valcents a Pound New York ley Lead 13 ?iitc 10 cents a pound East St Ikiuis Tin 89 cents a pound New York foreign silver 90 gents per troy ounce Settlement prlcee: copper 26 338 lead 13 5 Security Bank Trust Department 2 Edward L - Burton & Co 09 01 19 2)0 alive who can’t benefit from Soybeans— 25-3- NoV 88 00-1- Mover-the-counte- 355 YORK J 4 $350 fi-S-i - Steady to firm 7800 cases White large extraa 52 mixed large extras 51 mediums 40 ttandards 43 current receipts 381 dirties 351 checks Engs- - NEW 1 39 95 MttwwirertRiMkH 00-1- 4 75-1- 5 Vol (122) (1091) (890) (187) NEW YORK Nov 19 (AP) —Higher foreign wool markets brought commission houM buying Into wool tops and wool futures Monday Wool futures closed 1 4 to 3 9 cents higher Dee 140 3 Much 119 5 May 138 0B July 1(0 2 Oct 135 OB) Dm 133 5 March 131 SB Certificated wool spot 141 ON Wool tops futures cloMd 7 of g cent to 3 1 cents higher Dec 189 OB: March 170 OB May 189 0B July 107 OB) Oct 170 8B Dae 189 0B 4 58 71 878 713 rs j 81 00-2- 5 Wool Market too 81 87 10 13 9 10 8 rsi Grain Futures It 19 q leughter awei 4 00 790 108 ANGFLI9 Nov 1 (AP FBMN —Cattle 3 500 lau(hter ataara and half-a- rt in rather limited iupply fairly active fully ataarly to 25 hllhar cow a steady) bulla little change atockers and faadari firm huh good to low choira lb itaeri 32 2 T5 several Uunlx held blkhec ataadard 2n75 Jow choice to averaae choira helfera 22 00 young atandard cowl to 17 00 nuxad load utility and commas cud ttaM cow 15 90) bulk uttlftw 11 SO: canneri and cutter 10 3 75 utility S0and commercial ranxd bulla lg good yearling stock 1 nd feeder Hears 31 75) flesh? kinds 23 00 Calves 300 (laughter calves and Stockers active steady moderately choice heavy slaughter calvel 350 up 414 20 93 1917 711 I rx 17 09 IS 9 87 7 18 r 80 18 Dm Low Clos 39 95 4000 19 M 42 80 ONIONS IDAHO FALLS 1174 13 10 9 7 24 21 15 1 1 1 rr quiry moderate ataady Ruaacta aackd par ewt wahed US 1 3 or 4 oi minimum whan alia A or 3 or 4 oi minimum Whan not ilta A delivered salee ehipplni point bail ehlp-pl- n point: 100 lb uck elra A 3 10 10 20 per cant 10 o or lariar 3 30-- 3 30 30-3- 0 per cent 3 35 3 40 30 par cent Including U S extra No 1 a 40-- 3 50 U S 3 1 40-- 1 50 9 oi minimum 1 50-1 90 fob caah track: 100 lb anclr ait A 190-- 3 00 10-2- 0 par cant 10 ox or larger 3 00 3 10 10-3- 0 par ernt 1 20- 2 30 30 par cant including V S extra No I 3 30 2 40 US No 3 2 JO-13- 3 1 49-- 1 50 01 minimum 4 62 13 69 34 1111 t 50 80 25 90 fob 8 71 8 24 2 57 3 13 8 94 Fund Inrorp Income Incorn tnve 84 w wooled and ihorn daufhtor lamb 22 00 horn lamb carrylnf No 1 pain aooj and ahrvtca 31 00 21 50 load wooled 31 79 EGGS Huh Potato Market Asked 8 8 71 3 78 8 28 19 59 Eaton Howard Bai 40 40 40 42 (Cant oflerlnn moderate moderat 13 79 4 42 8 01 7 52 2 Opan sharea at shares at 13s Atflllnted Fund Am Buslneeg Atomic Dev Boston Fund Can Gen Fd 1954 Canadian Funds Ins Capital Venture Comwlth Invest DlversUied Invest Dividend Shares Dreyfus Fund WeetUn CHICAGO Nov Sept Monday’s Quotations UtdPCM USAFS USGypa USPlyw USRubb USSmelt USSteel do pfd UtP&L Vanadm Walcrn Walwrth WarnBr WeatPao CornPrd Jan le 3c Investment Firms UtdFruit UtdGa-- Nov Dm 39c Horn Silver 800 sharea at 2e Tar Baby 1000 shares at 15 We Park City Consolidated 100 sharea at 20thCent UnBasC UCarbdo UOIlCal UnPaeif do pfd UnTank UnltAirc UnAlrL UnltBlse UnltCp UElCoal ContBak ContCan ContMot ContOii CooperB SALES S00 Eureka Conaolidated TWAirL TriCont IV le 3c Tramam - httfers generally steady sows in light supply steady to 25 higher bulls and vealers steady atockers end feeders fully steady choice fad steers 21 25 25 00 good to low choice 2100-2- 3 00 choice heifers 23 25 24 50 load choice to 25 50 00 to low 19 choleo prime good 27 00 utility and commercial cows 13 00- 15 00 good end choice yearling gtockers end feeder steers 21 0023 50 chnics yearling feeder heifers 21 50 load choice stock heifer calves early 24 OO Sheep— 4500 r slaughter rlaaaeg generally steady not established on feeders and breeders consignment mostly choice 00 Draaon TruaxTr cine-8- OODIK fUSDAUDA) — Cattl — Salable 3000: 23 JO pr cent of supply cowi itocker and feeders accounting tor mote than half of runt luhter ateera and heifora loot than 20 per cent fed ateera and heifers In too amU sup ply to fully teat the market nominally steadyi spots weak: cows steady to weake stockerg end feeder fully steady one load everage-ehoic- e 1100 lb fed steer 22 23 individual up to 22 60 av20 5021 60( standard erage to high-goo90-1to low good 18 30 few utility to 16 90 18 25 few Tot low to lb fed heifer average choice 866-8821 00 22 00 18 lonr to avemge-goo- d m gtahdnrd 16 90 lnot tmtcH on 16 00: 14 00-1- 5 00 J commercial cowl 12 6014 00 farmer and cutter utility 10 00-160 few thin shelly cennert down to 6 50 Individual commercial bulls up to 17 79 mod lots cutters and choice utility 14 75-1- 8 00 Part load 500-72Stocker and feeder steer 22 00- 22 80 Good to choice 20 00 21 00 medium 16 75-1- 6 25 common Holstein 14 30-123 One carload choice 620 lb yearling stock heiiert 11 60: few good 18 80-2-0 60 medium to good 17 50-1- 8 80 a few common 14 5016 00 Part load good stock cows 13 50 scattered loti medium to good 10 0014 00 Calves— Salable 400: vealore v erarre about steady: stock calves steady to strong Few choice vealers 23 0029 00 standard and good 17 60 About a half load choice 285 1b stock steer calves 25 75 other choice lots 24 4 66 bulk good to choice 21 00 21 00 common and medium 14 50 18 00 One carload choice end f ancy 180 !b slock heifer calve 24 20 other short loads choice 32319 lbs 23 20-2- 3 80 Good end choice 20 29 21 60 Hogs— Salable 250 butcher hags about harsteady Bulk mixed lots US rows and gilts 180-24lba IS 00-1- 8 25 few sorted 1 and 2 grade IS 50 few 270 280 lbs 16 5017 00 some 170180 lb 17 00-1-7 60 Bows steady to weak Few mixed 1 2 sows under 300 lbs 15 50: bulk 2 end S grade 850 500 lba 11 50-1- 4 00 Sheep— Salable 300 slaughter lambs fully 60 lower on weights under 105 lbs j heavier discounts on weights over 109 lbs few choice lots 84 105 lb slaughter lambs 10 50-200 few 89 lbs stock show lb rejects up to 21 60 bulk 109-12- 5 00-2-0 00 Few good and 18 choice mostly choice slaughter ewes 6 007 50 Good feeding lambs 18 00 20 00 A package choice 67 lb ewe iamb 22 00 With a few young breeding swes 20 60 per head OMAHA Nov 18 (INS1 — Hos-10- 600 active barros and gUte strong to 25 higher than Friday's bulk sate soma lots as much s 60 over Friday low close sows steady to 25 higher mixed 1 2 end 3 180 275 1b tutchers 16 75 17 25 1 end 2 200 250 lba 17 35- 17 60 52 head around 210 lbs mostly la 17 73 180 180 lbs 16 75 17 00 few 160 180 lbs 16 00-1- 75 sows 14 5 75 few 300 lbs down 16 00 Cattle— 16500 calves 1700 few early sales fed steers steady to 25 lower fed 02 Sale 500 at 24c Comitock 1000 at 18e 3000 at 18c 250 at 17 c 1000 at 18c Conaolidated Eureka 390 at 3So 500 IV H CHICAGO Nov 18 (UP)— Produce: Live poultry: Steady to firm on caponettes steady on balance 144000 lbs USDA price changes or addltions-Caponetle- s under 4 lbs 24412 over 4 25 27 young hen turkeys lbs 0 swan geese 16 toms 22 23 geese 27 Cheese: Stesdy Single daisies and longhorns 39-3- 9 processed loaf 36 27 Swiss Grade A 42-4- 4 Swiss Grade B 40-4- 2 Swiss Grade C 35-3- 8 81 721000 lba Butter: Steady score 69: 92 score 59 90 score 58 89 score 67 Carlots: 90 (core 58 89 08 Clayton Textron Thrmold ThompP TldeWO TimkRB Produce Market 02 01 EUlly 3 6 2b4 59V 4 06 04 37(4 S'" 01V ECrPolnt EastStd ETmCln EUtah EmpMin FBulln 921 2 32 2 3248 29 2 1j2 31V 1 9 22 4 3429b 47 38 75V29 8b bj 35VI- 691 28 311 32 24 2b64 46 2 41 9l 24 - S CrPoint Drafon llj4 29- IntNickl Banner BifHlll Bonanna BrlstSll Bullion BuilionM Cardiff CenLStd ChtefCoa dopf ChiefWav Clayton Colorado ComMetal Comet ComLead Comstock ConEurek CrEaiOU Croff -- 38 2 2 72 28-22) ft 14 SutJI HrusdtM Blw-Kn- x Monday Quotations : V b0-48- 28 12 Hetcra xtyajiN HiJinm notiLtec liounur' hmeiut tionoiu i Hbeiiur i iiweand iaaPwr Salt Lake Stock Market 21 22J 17 - 92 20 Grynnd UrumA Monday S3870000l 1957 to data S92108S730 Mlee Monday $60000 1967 to date 614137000 Total ule N Y bond ToUl AmerlceA bond -5 U-2- 20 uuuoil BndxAv BenFin Benguet Best&Co Bcstwall BestFds BethSt In 100aaon Ch 2414-1- GLoni UtWbUb 8V- 41 Giidaen Bathlron Sale ErleRlT Metal Prices Chairman of the board of Zions First National Bank will be President David O McKay of the LDS Church Orval Adams executive vice 'president of First National Bank of Salt Lake City will be president t W LaMar Webb former senior vice president of Wachovia Bank & Trust Co Winston-SaleNC has returned to his native Utah to become a senior vice president in Zions First National Wendell M Smoot executive vice president of Zidhs Savings Bank & Trust Co also will be a senior vice presideht Anglo Oil 07 7813 48 71 18 85 Ten Leading Stock President McKay to Head Merged Board Ahaio al 42 "Go- 34 - - 331 2 10 High Grade Rail 10 2nd Grade Kalla JhiWte- - Util——" 10 lnduatrtale Contnr that book value of stock does not necessarily reflect current market values It 143 26 t7 tnso'ndi 4 lasao-- l 02 43 6S 92 90 30 63 40 47 will receive 3995 shares ChnBelt ChncVA share held of First National ChrAO of Zions First National for each or a total of 119850 shares of Zions stock Zion's Savings Bank A Trust Co stockholders will receive 357 shares of Zions First National Bank stock for each share held of Zion’s Savings or total of 107100 shares Utah Savings & Trust Co stockholders would receive 935 shares Of Zions First National stock for each share held of Utah Savings or total of 28050 shares Zion's Savings Bank & Trust has some 30000 shares of $50 par value stock First National of Salt Lake City 30000 shares of $25 par value stock and Utah Savings & Trust 3000 ghares of $100 par value stock 9t-- Standard and Poor! Hick (—Li ('loss Net U Certntd First National Bank stockholders ClPM !S Book Value of Assets Tallies to $11895275 Under the merger agreement and reorganization of First National shareholders of the' three banks would receive the new $10 par value stock of Zions First National on the following basis: 14 ' 17R9 Advaneel Decline Unchanged New High New Lowi y W 9t livestock Markets V Standard & Poor’s Closing 500 Stock Index ' Bank) $11895275 and the stock will have a' book value of $1665 a share subject to adjustment for earnings since April 30 1957 of the merging banks As bank regulation relates the size of any single loan to the capital and surlus of the institution the greater capital and surplus of the Zions First National Bank will place the institution in position to make correspondingly larger loans The contributions of assets and capital of Zions Savings Bank and Utah Savings and Trust should also increase the overall lending power of Zions First National Bank as compared with First National Bank as now constituted 94 72 42 AmCan AmCyan Am&FP Under the merger agreement First National Bank will con- AmM&F tribute 47 per cent of the assets and earning power Zion's (AmMeU AmMtrf Savings Bank 42 per cent and Utah Savings 11 per cent AmK SS Ambmlt "the new Zions First National Bank will have an authorized AmhtlF AmT&T rapital of $255QOOO with 255000 shares outstanding of $10 par AmTob stock value AmVisct This compares with present capital of $750000 made up of AmZlnc Anacnda ArmcoSt 30000 shares of $25 par value stock Armour Atehison AtlRef AtiasCp Total book value of assets of the continuing bank (Zions AvcoMfg BaldLHa Bait&O National will be First 104 4(1 103 S3 102 A3 101 91 51 54 94 Low Comp -- 4VU00 1413 Commodity Flurea Index x T1 4 (4 474 4 13 434 10000 740000 1110000 Vol fed Lean limit and lending ability" dFFSrst TsahVharBarilc of Balt Lake City will be greatly increased as result of merger With Zion's Savings Bank it Trust Co and Utah Savings and Trust Co it was disclosed Monday Copies of the merger agreement which involves reorganization of the capital structure of First National and renaming of the Institution as Zions First National Bank are now available for Inspection of stockholders at the various banks The merger Is based on condition of the three banks as of April 30 1057 Shareholders of the three banks will meet " k Jat varying times on the morning of Dec 11 to approve action of the directors Preliminary ap- Mr pr0val of the mergers already has been gained f the Comptroller of the Currency at Washington DC It Is hoped that final and formal approval will be obtained promptly after the stockholders meetings so that Zions First National Bank will be fully operative at the beginning of 1958 Church of Jesus Christ of Latter-da: Saints has majority Interests In bach of the three banks 910 210 0O0 1 w r 9 B9 Monday’s Quotations Dow-Jone- s Average Furnished by J A Hod Si Co Member of the New York Stock Exchsnco Vol Indust Rail 490000 4(7 1 104 IS No Ski Traded OOO y W wr y 1937 19 American Stock Exchange i w V j - The visit how ning One you wish) advice is this: Select a reputable attorney and a good bank trust department You’ll bo amazed muck money tan be saved by intelligent plan -— ' by specialists with "know-how- " f final thought: Don’t wait until next week Next week' may be too late Do it today! Trust Department Anywhere everywhere It’ a nationwide network of thousands of dealer in big cities and small thousands of dealers linked by phone and teletype negotiating Imong themselves to get the best possible prices for their customers j There's more to this market of course much more 'I And you’ll find it in our brand new booklet SECURITIES: A NATIONAL MaSKET J It'i 43 pages ongoftOBweri all the questions most people ask about this market and has thumbnail reviews stocks carefully selected by our of 86 Research Department to meet various investment ob“over-the-counte- r” jectives j If you’d like a copy just call coma in or write— Department DD-137 Merrill Mtmbtu New Lynch York Stock Pierce Fenner & Dcsre Excbeng! end ell other Principal Exchangee 4 lnfcfwf OfficM la Matog (Otk Wyamtef SAimkir Mfwl Immm m Carp 129 SO MAIN STREET’ SALT Telephone: ELgin LAKE CITY 1 0