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Show LOOAN BUS MS8MED LOOAN, Feb. 28. The "farm ere1 and Merchants' Savings bank and (he Cache Valley Banking company, were 1 consolidated yesterday, marking the largest bank merger which has Wet taken place In northern Utah. Officials Offi-cials and employes of both Institutions were busy yesterday in moving tho accounts ac-counts of the Farmers' and Merchants' Mer-chants' Lank to the Cache Valley bank. Business in the future will bo trans-ti trans-ti l al tiie latter bank. State Bank Examiner Seth Piston land B. B- Motherwell, manager of the Salt Bake branch -of the federal ' rye bank, were in the city today assisting In the transfer. The change was made, according to President 1 'rederick P. Champ of -the Cache Valley Val-ley hank, on the principles of sound banking and with the approval nf the ta'e hank examiner and the federal ; reserve officials. The Farmers' and Merchants' Savings Sav-ings bank will have representation on ; the board of directors of the Cache Valley Danking company. William M. Howell, president of the Farmers' and Merchants' bank will become a vice president of the Cache Valley bank, while H O Hansen, of Paradise and Thomas Muir of Mendon. will be made 1 directors. The transaction will add appro.tl- ' mately JOO.OOO to the resources of the I 11 he Valley Banking company. Pres- ideiit Frederick P, Champ of the Cache Valley Banking company, made the following statement today: "The Cucho Valley Banking company welcomes wel-comes the opportunity to be of larger 1 worth to the public and to serve in greater volume its depositors, along ,the same sound banking principles as pursued in the past. The taking over of tho aseeta of the Farmers' nnd Merchants' Mer-chants' bank with the business or this institution nnd the support and co-operation of an enlarged directorate I promises growth lr. the future." I The Farmers' and Merchants' Sav- ings bank was orrsnlzed early In 1914 I by John A Hendrickson and assocl- itee, Threi years afro Mr Hsndrlck 01 1 sold out his interests to William M Howell, former mayor of Logan, and his brother. Luther M. Howell. |