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Show Local Banking Houses Consolidate Interests v Following a conference of the directors of the Gunnison Valley bank and the Gunnison City National bank, held in this city last Friday, the two institutions were consolidated. The matter of consolidating was carefully gone into by the stockholders and directors of the two banking institutions and it was deemed best to merge the two, thus eliminating the extra overhead over-head expense that would be entailed to continue the two banks. jNot alone this, but with the two institutions consolidated it will result re-sult in making the one bank much stronger and will cause it to rank with one of the very best in Southern Utah. Expressions, too, have been freely among the business men of the valley, that the consolidation consoli-dation is the logical course and generally the announcement is heralded herald-ed with approval by the public. By merging the two interests the lending power of the one will be strengthened and the farmer, beet grower and those borrowing will be enabled to carry out bigger and better work and much of the business which, when big loans are to be considered, has been going . elsewhere, vill be cared for by the local bank. For the purpose of eliminating an extra expense to the stockholders stock-holders of the new concern, no new charter will be asked, but the one bank will be known as the Gunnison Valley bank. The result will be a slight change in the roster, however, and the directorate will be increased from seven to nine members. The Gunnison Valley bank, among the oldest in this section, was organized in 1909. The Gunnison City National's was organized or-ganized in 1920. |