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Show Our contacts and discussions with the people and business Interests In-terests of . this fine city have proven to us the need for more adequate financing facilities for this area. You have definitely shown us that you are interested in having us with you. We have endeavored to bring about a merger with your bank so that the larger resources of the First Security System can be made available to your wonderful wonder-ful area. This would enable you to benefit as Provo and Utah county has and as 45 other areas served by the First Security System Sys-tem of Banks. More money and financing for home building, enlarging and expanding your business operations, opera-tions, financing at low bank rates for purchase of automobiles, automo-biles, household appliances, home repairs and all business needs. We are endeavoring to effect a merger with your bank, not take it away from you, but make It 11.. WU..!, I. 1 larger and more able to handle your financial requirements. We know you want us In your community. com-munity. We are not strangers here. Our officers and directors have been here for years thru the Utah Construction Co. We have now more than one million dollars dol-lars loaned to you for home ownership. own-ership. We are accepting your invitation in-vitation and have decided to be here in the finance field. If the bank merger Is not consummated con-summated we will open a mortgage mort-gage loan and finance company and bring to your city the kind of financial ability you are entitled en-titled to. We have offered a fair price to your bank stockholders (all of them) not just 51 per cent as others have. But better yet we have offered one and one-quarter shares of First Security Corporation Corpora-tion stock for each share of Bank of Southern Utah stock. This would leave your stockholders as bank investors if they want to be. As Investors In the largest in-termountain in-termountain banking Institution. A stock that is saleable at all times. A stock that has a quoted price and a stock that will give each of your Bank of Southern Utah stockholders an Immediate fifty per cent Increase in their dividend, divi-dend, a three times .larger dividend divi-dend than they received last year. Is your bank being preserved for your community or Is it being stagnated for the benefit of -i few? You have the opportunity now to demand a larger bank, a bank that can and will take care of the financial needs of your area. Before we entered the picture the highest price bid for your bank stock was $30.00 a share and a dividend of fifty cents was paid per year. This Is now being increased to one dollar. Even a dividend of one dollar on the price we are offering for all the stock Is a return on your investment of less than two and one-half per cent, the rate being paid to your saving depositors. Our First Security stock, with a market quote of $35.50, has an actual value of $42.00 without any good will added; thus one and one quarter shares we are offering is equivalent to $52.50 value for each share of your Bank of Southern Utah Stock. Your stockholders will immediately immed-iately increase their dividend return re-turn on each share from the present pre-sent $1.00 to $1.50. You have received our offer in a letter from us. All of you, not just 51 per cent. If you desire to sell or exchange your stock and have us In your city please call me at Salt Lake City (Telephone 4-2501) or write. You may also contact and make your arrangements arrange-ments through your bank president, presi-dent, Mr. John S. Christensen. GEORGE S. ECCLES, President First Security Corporation |