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Show The Enterprise Review , June 23, 1976 Page 4b Commercial Security Bank has received approval to build two new branch offices. One office, to be located in Wendover, Utah, will be built along Highway 40, according to Eric Fredrickson of Commercial Security. The other office will be located near the intersection of 9400 South and 700 East. No design decisions regarding either bank have been made yet, Fredrickson said. Commercial Security recently opposed plans by to establish a new bank at a location about 11 blocks east of Commercial Securitys planned branch on En-virow- est 9400 South. has applied to the Department of Financial Institutions for permission to establish a branch bank in. Garland, Box Elder County. According to its application; the nearest bank to Garland is 4 miles away in Tremonton. "We have observed a large number of (our) customers are driving 20 miles into Brigham City to avail themselves of the services of our bank," the bank 'stated in its application, adding a branch bank in Garland would "better serve the needs of these customers." An economic analysis of the area has not yet been submitted to the department. r Bank of Brigham City Bank of Ogden The Bank of Brigham City The Bank of Utah, INSURANCE AGENCY Paul Scott 4 1 Business Phone: Residence Phone: 1545 South 11th East - - - - Salt Lake City, Utah LIFE FIRE - AUTO WORKMANS COMP. - LIABILITY - BONDS 484-882- 277-296- According to the application the bank closest to that location. Commercial Security Bank, is half a mile away. The next closest bank is two miles away. An economic analysis of the area has not yet been submitted to the department. Application Snagged The application from Norton Parker and others to establish a new unit state bank, to be called 1st Citibank, has run into a number of snags. A public hearing on the application ALL FORMS OF. INSURANCE Jerry Ogden, has asked permission to establish a branch office in UnionMidvale (7200 South 7th East). has been scheduled for Wednesday, July 28, 9:30 a.m. Two local banks have protested the location of the proposed bank. Two individuals have objected to Parker establishing a new bank while he is still a defendant in an unanswered lawsuit for $2,700,000. First National City Bank of New York, also known as Citibank, has objected to JOIN US FOR ALL THE FUN AND EXCITEMENT FOR WHICH NEVADA IS FAMOUS! Parkers use of the name 1st Citibank." (Parker has proposed changing the name to First City Bank.) Proponents of the proposed bank include Parker, Jack B. Neilson, G. Laury Miller, John M. Rapp and Martin T. Hart. " In an earlier interview with the Review , Parker said that the area (2221 South State Street) "needs an independent bank offering personal service' Parker is past president of Bank of Salt Lake, now part of Commercial Security Bank. 'He is currently acting as secretary-treasure- r of F-- Truckline. B A new unit state bank, to be called Wasatch Bank of Lehi, has been approved by the Commissioner of Financial Institutions. . Four of the proponents of the new bank are currently directors of the Wasatch Bank of Orem. In their application they claimed Lehis population has grown 59. percent since 1968, and grew more between 1970 and 1973 than it did in the last 20 years. New Zoning Effective in Central City t Much of central city. Salt commissioners in March ol Lake, between 6th and 9th this year. It was created in South and 2nd and 7th East, response to pleas by central has been rezoned. city residents for Where formerly the zone zoning in their area. 6 Under the new zone, called for dwellings and small commergroup or planned unit develcial buildings, the new zone, opments, multiple-famil- y allows a maximum den- dwellings, and parking lots y sity of dwellings can be built only after review (on lots smaller than one by the planning and zoning commission. acre). The The new zone took effect zone classification was newly created by city June 16. low-densi- ty R-- high-densi- ty R-3- A, four-famil- R-3- A TH SOUTH nr777! il m 3 3o 3 1...1 1 0? ? SOUTH 1 sCbJ 3 90 ro M Uu Intel ami Oaano 1976 8TH 33 Celebrating Our 50th Anniversary Year 3 SOUTH 3 3 3 3 3 s X - l vr rilE 9 140 TH MAP: Small 3 indicates the new area was zoned R-- R-3- A X H-- 3 H 3 3H3 WENDOVER, NEVADA 3 3 3 3 3 SOUTH zone. Formerly, this 6. COMPLETE PRINTING SERVICE Option Market News by Warren Mi Krlclmm. Ph.l). Virir. hinglivinrich X (irrer elter erxiice TELEPHONE: 322-344- 7 West 800 SouthSalt Lake City, Utah FREE PICKUP AND DELIVERY The stock market staged a very strong rally last week gaining about 50 points on the Dow Industrials. This rally has arrested the decline in option premiums and brought the bulls back from the manure pile. This is precisely the type of rally you should be looking for to put on those bear spreads I frequently mention in this column. One very good bear spread existed Thurday and of last week Friday involving Polaroid. It was, buy the July 35 at 3 Vi and sell the July 30s at 8, for a 43i credit. If the stock back-tracin the next month, the30s should drop faster than the 35 s, generating a profit. Maximum profit in this spread is 475, less commissions, maximum loss is 25, plus commissions. Option writers should now take advantage of this market surge to hedge their stock positions. These hot markets have.a tendency to melt away, particularly in the summer months. ks . I : J i I : $ 6 1926 ' |