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Show NEW DANK TO I OPENFEB. 20TH I Farmers And Merchants Sav- ings Bank, "The Bank of H The Common People" To H Begin This Month. Capital!- 'Vfl zation $50,000 And $5,000 ; Surplus. H A ten year leaso was recently glr- H en to J. A. Hcndrlckson nnd others M by tho Iludgo llros. on tho building l H Hl'untcd nt tho corner of Mnln and H Center streets. Consldornblo talk H has been going on of lato trying to H decide tho purposo for which this H building Is now being remodeled. Wo B learn that the Farmers and M'orch- H ants Savings Dank ot Logan la to H begin business thero on tho 20th ot H Februnry with a capital ot $50,000 H and $5,000 surplus. It will bo a stato H bank under tho control of tho stato H nnd regularly examined by tho stato BBB bank examiner. Tho promotors say H that It Is to bo thb "bank ot tho H common pcoplo." Tho Interior on H tho first Moor Is now bolng provided M with ono ot tho lnrgcst and strong- ,H est vaults over built In this city. H Tho vault will bo provided with a H double lock Maugnueso sicol door, weigh , over two tons. Tho safo H thnt Is on Its way from tho factory BBl weighs 3 i oils and n half, ami Is tho H heaviest that has so far como Into H tho count). A furnnco will bo In- H stalled in tho basement to heat tho H building, and all other things will H bo made, strlcitly modern. Within tho H vault will bo safety deposit boxes H for tho public where anyono can rent BBB a box for their valuable, papers at Bfl from $1.50 to $2.50 per year accord- H lng to the slzo ot tho, box. Thoso H will bo gotatablo uny tlmo nt bank- H lug hours. Tho Interior finishing nnd H fixtures will bo ot tbo egg shell ma- H hogany similar to tho Merchants H (Continued on pngo four) NEW BANK TO OPEN. 20TH Continued from Pago One Dank of Salt Lako City. The promo ters say that It will be conected with the largest banks in tho state and will also bo associated with eastern loan agencies, and western Insurance companies, thus enabling them to mako long time loans. Tho company will bo provided with fifteen directors of whom ono will bo the president and three vice presidents. pres-idents. Two directors and tho president pres-ident will como from Salt Lake City and will bo men of extensive banking bank-ing experience. Nino directors will bo chosen from Logan, nnd four from Cacho Valley outsldo of Logan. Tho dlroctors ore chosen by tho stockholders. According to contracts let the bank furnlturo nnd equipment Is to bo Installed not later than February 20, when tho doors nro supposed to open for business, nnd nt which time tho public will bo Invited to Inspect the Interior of the bank and Its safe ty. Stockholders will como from all parts of tho vnlley, Ogden mm Salt Lake. While tho stock of tho bank Is already al-ready largely subscribed tho farming community nro going to bo given tho prlvllego of taking somo stock nnd their Interests will bo specially looked look-ed after In tho bank's management. Tho present seems to bo a banking nge, ns now bnnks nre opening up In different parts of tho stato quite regularly. Recently a $300,000 bank opened Its doors In Provo, making four banks In that city. Tho Farmers Farm-ers and Stockgrowers bank of Salt Lako with n capital of $300,000 bo-gan bo-gan business about two weeks ago, next wo nro tola tho City' National Nation-al Hank of Salt Lako will begin business with a capital of $250,000. Ogden Is Boon to havo another bank with a capital of $1B0,000. Flvo months ago a $50,000 bank was just added to the two banks already In Ilrlgham City, where thero is a population pop-ulation of 4000. |
