Show CORNICK BACK U OlD lOAN Z Thousand Dollars Paid to toas toas as an Incident to the ehase of Control in the tah iah National Bank 10 0 OF ROBBERY OF M PANICS BANKS BANKS BANK'S RESERVE CHEST t. t ger of Utah National and ate te j Bank of Utah to Be Allowed by Enlargement of ions ion's Savings Bank Rooms BE BE ELECTED DIRECTOR LIC announcement that the Utah National bank and the he Bank ank o or Utah have haye merged and d under control of the board of 1 tors x rs of the Zions Zion's Savings Sa Bank Trust company probably will be he pearly early next week cek at meetings meeting'S of ards of or directors of the ns ns 1 At that time lime plans also will wille e C public for t the e improvements a e Templeton building in which winch I State Bank of of Utah and ands s 's s Savings Sayings Bank and Trust com com- i j 1 re e now located and which have for some time ese ee se improvements will include aring out of the entire interior c e Templeton building the ind in- in d io l of elaborate banking the first floor alterations s in of the building and the adof ad- ad I. I 1 of marble garble entrances an and grani gran- gran i ops eps These remodeled quarters I Ibe be occupied by the Zions Zion's Sav- Sav SavI I bank r while the Utah National the State Bank of Utah be merged will remain jn in its it t location at First South and i arc hc to Ve Va f ma rae ethe e the various but limited st toIS to- to ts IS S of f the officers of or the tin different speaking about the per per- nt rumors which have haye been afloat financial circles for several days das it t the Important financial deals InG ring upon the tho transfer of ot the tho conIng conti con- con ti Ing hg- interest In tho Utah National from W W. S. S to Ashby w v and O. O C. C Beebe the latter being 1 fer of ot the Zions Zion's Savings Bank and andt t t l company compan I. I ho 0 o of ot the Incidents to this deal Is Ischo echo cho of ot the mysterious robbery robber of or I r reserve fund chest of or the Utah Ulah Xa- Xa a I lal lal three years ago aJo when I the tho reserve c fund disappeared in a at ncr that has baffled harrIed the most vigus vig- vig t us Investigation ever eer since U hen en tho the robbery was finally aniced an- an iced ced to the tho public Joseph Nelson p cashier of ot tho the bank banI put Into the 44 1 his personal note for 50 rhe The Ther r C directors then voted to transfer i the surplus and W. W p. p S S. S U president of oC tho the hank bank and j h l owner of stock put pul of ot r Private capital Into the reserve d makIng up the entire Ios loss from I J robbE robbery r k Recovers Reco cor Money Milney T. T j consideration of his sale alc to Snow Beebe of ot the controlling Interest o 0 bank McCornick was Iven i by purchasers of oC his stock a It bonus of 00 representing the thc amount M ad d paid Into thc the r rt e ve fund of oC j Utah National sub to tOI the rYe ry 1 yesterday refused to toT toor T or deny tho report of ot the In Installs In- In stalls of ot tho mer merger er He declared i ghe he believed the matter should be beil ben n il to the stockholders only and ancl thep did not want the V f wha whatever vcr the they ml might ht be be made Jc c. c 34 nie ic C recovery b by Mr McCornick who i ably bably will Ul resign from Crom the presly prest- prest l 1 f. f y y of ot the Utah National at the thet b t lug Ling of ot the board of at directors next l I It of or the which he trans- trans C pd 41 to the bank subsequent to the tI ery three years ago Is one of ot the 1 resting esting Incidents to tho the deal IS ago he lie sued Joseph Nelson V former ormer oriner cashier for payment of ot the tho Ifor tor 1350 which Mr Nelson deed deed de- de ed led with the bank as his share of ot rj funding of ot the amount stolen Nd- Nd 3 had hacI refused to pa pay this note aft after r I j resignation from the bank had L but Mr McCornick se- se e- e ie jd Judgment against him The mat mat- g B now j in the courts on appeal Heber J. J Grant Gront Surprised Beebe Thebe and Mr Ir Sno Snow have perd perI per- per I d In Jn maintaining a secrecy which 1 0 pu puzzled d even certain officials of or orr 4 banks Danks Interested Heber Hebor J J. Grant r president of ot the State Dank Bank of or bI 1 declared yesterday that ho was S to see sec that such a deal was 1 r consideration since he tho the vice dent of the thc State bank had not been consulted by bv those who had hadis is of oC the bank In hand 4 aries S. S Burton cashier of ot the 14 Bank Danle of ot Utah said that such I 11 actions when contemplated were ers eTs for Cor the directors of or the bank insider nalder before tho public and that 1 ore iero was wag to h be he any announcement d' d i OD 1 I I GETS I II I BACK OLD LOAN Fifty Thousand Dollars That Figured in Bank Robbery Is Paid to Him Continued From Krom Page Ono One made It probably would be bc forthcoming ing In after anel the tho meeting of ot the directors o or of the tho banks next wc week l The Thc State bank was notified some sometime sometime time ago ngo by the Zions Zion's Savings s Lank Dank and Trust company that It must timid find another location At the same time the Zions Zion's bank mn made e arrangements for tor elaborate Improvements on the time Interior of the Templeton building which would o gJ it the finest finest- banking quarters Inthe in inthe the Rock Rocky mountain region The Tho State bank Immediately looked for tor quarters and aile had several se locations available for tor immediate acceptance e. e II Buy liny I Utah Slack Suddenly th these e plans were dropped and the State bank did not look further for tor a n location At the same sane time O. O C. C Beebe and Ashby Snow both heavy holders of stock In tho the State bank nn and the Zions Zion's Sa ln Savings 8 bank of or both of ot which Joseph I F F. Smith Is IR president bean began bogan be- be gan an the tho bu buying ln of or stock of or the Utah National Just how much stock toek In this hank bank Snow and Beebe cornered before the they made the deal with W. W S. S McCornick nick by which th they took over o his controlling controlling controlling con con- trolling Interest is not known Mr Ir McCornick said yesterday ho believed it was considerable The Zions Zion's Savings Sa bank also owns stock In the tho State bank It Is certain I that Snow Sno and acted as ns a agents of ot the Zions Zion's bank banle in Ins quietly acquiring the control of ot th the tho Ut Utah ii h National How Howlong Howlong long after the mer merger er Is effective the Utah National and State Bank of or Utah will remain in tho time present location of or ortho tho Utah National Is IR problematical The building in which the Utah National National Na Na- Oa- Oa now occupies quarters was purchased purchased purchased pur pur- chased recent recently with ic c ground by bythe bytho bytho tho the Salt Lake Security and Trust company compan with the Intention of erectIng erecting erect- erect Ing a building on that cOIn corner r. r The Tho Utah National however howe holds a n alease alease lease on tho the property which does Iloe not expire for tor four tour years eaIR and all efforts to persua persuade e the time bank banI to find another location have ha been unavailing unavailing- A meeting of the board boar of directors of or tho the Utah National l bank was as held yesterday morning but what discussion discussion discus discus- sion slon if it any was entered Into of tho the thomer mer merger cr was not made public O O. C. C Deege Beebe however was teas elected a director vice Josiah Barnett who resigned A committee was appointed to draft resolutions of or regret at the tho passing passin o of John Henry Smith second counselor to President Joseph F. F Smith and a 3 copy COP of these resolutions expressing the sympathy of the board hoard for Counselor Smiths Smith's family will be presented to the bereaved relatives relative |