davidaulloa/AmericanStories huggingface dataset:
Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1895-09-10
Wells, Fargo a CO.'S Hank.

In point OF resources, reliability and
facilities afforded patrons few financial
institutions In the West can compete will
the famous Wells, Fargo & Co.'s Bank,
which has a national reputation and
which has been the greatest factor IN thu
development OF the resources OF the
Great West and OF this city In particular
Established in 1889, It's entire history has
becn one OF advanced strides towards
the position now so creditably occupied.
The HEADQUARTERS OF the bank are Ut san
Francisco, branches being established In
this city and New York The board Of
directors Is composed Of the following
well known fnancies: Mr.. John
Valentine, president; Mr.. Homer 5.
King, manager; hif. II. Wadsworih,
cashier; Mr. L. l.. Lipmani assistant
| cashier and Messrs. Oliver Eldrcdge,
chas. +. Crocker, Lloyd Teris, w +.
Goad, !. c. Fargo, Geo. l., Gray aud
Dudley Evans. These are all rcpfesen-
tatiyc and famous western iinanciers.
The total resources OF the bank reach
the enormous aggregate Of more than
ten and onc-hali millions OF dollars.
The bank capital Is 10000, Is further
augmented by the immense surplus oil
nearly 100000. With such vast re-
sources, this bank can not help but be
stable and the stock Of the corporation
II above par. II transac,s general bus
| mess making specially Of buying and
selling exchange, making telegraphic
transfers on the principal cities OF the
United States aud Europe. II issues
letters Of credit available in the principal
cities OF the world. SPECIAL attention Is
given 10 the selling of ores and bullion
and advances are made on consign'
mcnts at lowest rates. Particular atten'
ton is given TO collections. This bank
offers facilities that are unsurpassed by
any other IN the country and has done a
grea, deal 10 give TO the West its SPLEEN
did standing in financial circles. The
Salt Lake branch is under the manage
ment Of Mt. !. L. Dooley, who Is too
well and iavorably known to require any
introduction TO our readers. lie has
been with the company since 1867 and IS
noted as a careful and conservative
| iinancier.
Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1895-09-10
cnmmrrcInl NnlIonnl nanh.

Among the solid and lourishing bank
ing institutions Of the West IS the Com
mercial National Bank OF this city, which
occupies handsomely fitted up quarters
In the Commercial Building. THIS pop
ular institution was organized IN 1889. a
general banking business OF a very ex'
tcnsive character is done, the bank nav,
ing as regular correspondents many OF
the leading banks OF the United States
and Europe. The sworn report OF the
condition Of the bank on the 7lh OF May
last shows Il to be in remarkably good
condition. The resources amounted 10
s6o7, tao.St. The capital stock paid m Is
s5oo 600 and the total deposits amount TO
over sut, 7qs.6s Mr. Geo. NJ Downey.
the president Of the bank has a wide
repulation as a sound hnancier lie IS
the owner OF considerable amount OF
realty. Mr.. w. =. Noble, the vice presi'
dent, Is one OF salt Lakes leading bust
ness men, who has had much experience
in mercantile and financial affairs. Col
Iohn w. Donncllan, the cashier, isa thor
oughly experienced hnincier, who has
been with the bank ever since It COM
menccd business and deyotes his entire
attention to the affairs OF the institution
Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1895-09-10

The vast wealth OF Utah territory,
which Is only just beginning to DO devel'
oped, has naturally led to the establish
nient OF number Of banking instiiu-
tons. With scarcely an exception these
banks are strong and thoroughly reliable
in every respect, standing IN no degree
behind similar establishments IN the East.
In fact there are no banks IN the United
States that have better reputation
throughout the country than those OF
Utah. In this respect the people OF Utah
are indeed fortunate. Prominent among
the banking institutions Of this city IS
the old reliable firm Of Mccormick *
Co., private bank, which was estab-
lished In 1919, by w. $. Mccormick, one
OF our Oldest citizens, who still holds the
responsible position OF president and pro-
prielor OF the bank. Messrs. McCor-
nick * Co. occupy handsomely hued up
aud commodious Offices in their
own fine building. the Mccormick
building, which Is not only the finest
business structure In salt Lake city, but
one OF the most imposing business build
ings in the West. The firm employs "a
experienced clerks Messrs. Mccormick
& Co. do a general banking business and
have correspondents all over the United
States and in Europe They discoun,
notes, receive deposits, make loans, col
lect money, buy and sell domestic and
foreign exchange, and also receive ore
on consignment. The firm erected the
present building and moved into Il IN
Isga. Mr.. W. S. Mccormick is one o.
ten frs, re-idents OF Salt Lake city, having
come here when quite young man. lie
is a sound hnancier and IS interested in q
large number Of other important enter
priscs.
Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1895-09-10

One Of the responsible financial insttu-
lions OF Salt Lake Is the SAT- Lake Val
ley Loan * Trust Co., which occupies
wcll appointed Offices NJ No, II east
Flrst South street. This company, which
Is IN most nourishing condition was in.
corporattd In March, 1859. The capital
stock OF the company is 100000 II
deals in loans, mortgages and invest.
ments. II ,ransdcts q general loan and
discount business, buys, sells and dis
counts notes, drafts, etc, lends money on
prom,s,ory notes and real estate mort
naccs and acts as trustee ny gppoint'
inent under deeds OF trust; also as
as,ianee and receiver Of property as
executor OF wills aud administrator OF
estate. The officers OF the company
are Mr.. O. /. Salisbury presidents, Mr.
simon Blmbergcr, vice president and
Mr.. sam !. Kenyon, secretary aud treas
urer. Nj. Salisbury Is q well known
canitalist who Is vice president Of the
First National Bank Of Park City presi-
dent of the FIRST National Bank of Dead
wood. s. ~, and interested in many
other important enterprises. Mr. Simon
Bamberyer Is one Of our business men
Who h interested In many cor.
porations. Mr.. Kenyon Is the well
known cashier OF the First National
Rank Of Park City and secretary and
t,sasuter OF the Groesbrck company
and local treasurer Of the Mutual Re
serve Fund Life Association oil New
Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1895-09-10

and five private banks, six in all; but by
the commencement OF 1895, within a
single decade, the number OF such insti'
tuuons had increased to a total Of six
teen, four OF which were national banks.
In 1855 there was but one savings bank
in the city; now there are three. The
amour, Of capital invested in banking in
Salt Lake city, has more than kept pace
with the increase in the number OF bank
Ing houses, as those in existence in 1885
have greatly added to their capital.
1t is very unusual to see somany banks
In city OF this size, and their number
appears the more remarkable when their
heavy capitalization Is considered. Near
ly all OF them have large capital, and
the aggregate amount Of money invested
in them Is certainly surprising.
While Il is true that most OF the banks
In this city have been established within
ten years, and that they began business
during the so.called flush times Of the
''boom," they have given ample proof
OF the fact that they are not OF the
eyanescent character of the conditions
which existed at tho time they first APP
peared. Notwithstanding that Utah felt
very heavily the reaction from the real
estate boom, and at the same time stag
gered under the Decentralization which
overlook silver, these two tremendous
causes OF financial distress, coupled with
the hight OF the panic, did not shake one
OF the banks in this city.
While banks by the hundreds were
going INTO liquidation all over the Union,
many OF them being in cities which could
not, in the nature OF things, have sui-
fercd from calamities as great as those we
were contending with here, not draii
nor a check was dishonored by a single
bank in this city. Every depositor and
every creditor was paid as per contract,
and no development that ever took place
in Utah, did more 10 strengthen the
credit OF her people than did the magnili'
cent manner in which her banks wealth
cred the awful storm OF 1895.
The experience OF the last three years
has convinced our entire population OF
the safety and soldity OF the banks oil
this city; and one result Of this conf
~ AlN iNAhlN hAANhNAH NV VI
business firms merely, but OF private in
dividuals. who keep bank account
Many men who work on salary, and are
not engaged in any business pursuit, de
post in bank and make payments by
check. The extent TO which this custom
prevails here Is much greater than in
eastern cities; and Notwithstanding obiec
tons that might be raised against H. !
has much in It's favor.
OF the men who control our banks !
may be said OF them. rs class, tina
they possess marked ability; are Dol,
without being rash, and courageous with
out being foolhardy; Just the kind o
men needed by n community like ours, q
rapid growth and infinite possibilities.
Information ola detailed character, con
oerning the banking houses Of this city
and the men who manipulate them.
included in the following interesting II
sumo:
Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1895-09-10
utnh 'ri,lc, Insurance a Tru-, 60.

This company was incorporated IN
1850 with capital stock OF $4,000,
paid up and a surplus OF 500 o. The
offices are NJ 100 Main street. The COM
pany attends TO al business relating to
titles, abstracts, etc, and patrons may
rely upon efficient service. II examines
and insufes titles on realty, and furnishes
complete abstracts Of titles. A savings
bank department IS also conducted, IN
terest being allowed on deposits, loans
negotiated ON good security, etc. The
company enters into special agreement
10 make loans in the name OF the inves'
tor at an sgieed rate Of interest, the
investor being given a policy insuring
The tile to the realty for tie amount OF
the mortgage, Il Will also agree 20 coli
lect the interest ms Il iails due and remit
il N New N0k Exchange as the mort
gage may direct Before making loan
4 plat is prepared showing the location Of
the property, which is referred, with a
description OF the Improvements iii any,
to a special committee OF Three directors
(bankers) who make a careful eNamn-
alton OF the property, and Of the terms
on which the loan Is to be made. II
everything IS found to be satisfactory the
application Is approved. In no case,
however, Is an application approved Tor
| an amount which exceeds IS 10 20 per
cent OF the cash value Of the properly
After the approval an abstract OF the
7
Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1895-09-10

ness circles, and which under ia con.
servative management has accumulated
large resources. The bank has always
held a representative position in the II
nancial circles of the west and stands to.
day the embodiment OF those sound and
legitimate methods that alone render
bank secure from the fluctuations OF the
money market and the depression Of
commercial crises It's last statement Is
remarkably gratifying, showing total re.
Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1895-09-10

biides. Capital stock, !soo,ooo; sur.
plus fund, ssoo,ooo; undivided profits,
s.. 72s.SS; deposits, 5000, 759.o4; bills
payable, 5000 Since the organization
OF the bank. 1913 savings accounts have
been opened, OF which number, 1855
were opened during the past year. De-
posts have been received from not only
The people OF Utah. but also from resi-.
dents OF nearly every state in the Union,
as well as from some foreign countries.
Interest Is paid at the rate OF 1--WE per
cent. per annum, compounded quarterly.
The following well-known business men
and capitalists comprise the officers and
directors; MILFORD Woodruff, president;
George q. Cannon, yice'president; Geo.
NJ. Cannon, cashier; Joseph i. Smith,
Lorenzo Snow, I, G. Wcbber, Heber J.
Grant, James Jack, Francis NJ. Lyman,
Angus NJ, Cannon, George Reynolds,
II. b. Clawson and l.. John Nuttall.
The BAN, solicits correspondence and
receives deposits IN any amounts larger
than one dollar
Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1895-09-10
rhc rIr.. Ne,lennI Ilnnl er rsrL Ity

Is one Of the soundest and best banking
Institutions Of this Territory This bank
is now the ony Institution OF is kind IN
Park City and commands the business OF
the Park aud surrounding towns The
bank was organized June 18th, 1891, with
Mr. NJ 5 Aschheim president. He soon
thereafter resigned and MIR John ]. DAILY
was elected Ia his place MIR. DAILY Is a
capitalist aud director OF the CONNER
ciai National Bank OF salt Lake City; also
largely interested IN the mines at Park
City. Mr.. O. j. Salisbury, the vice presi.
dent, is president OF the First National
Bank OF Deadwood, South Dakota, has
large interests IN the mines At that place,
and at Bay Horse, Idaho, Is also prcsi-
dent Of the salt AXE Valley Loan and
| Trust company, and is interested IN many
| banking and other institutions In this
country. Mr.. sam J. Kenyon, the CASH
Ter, Is 4 gentleman who has been associ-
ntcd with and in tic banking business for
the last fifteen years, and Is repulcd ct
| conservative ideas and sound financial
principles. He is also the secretary and
treasurer OF the Salt Lake Valley Loan
and Trust company. Mr.. J II Deming,
the assistant cashier, is man OF pleas
ing address and universal esteem; he h
also treasurer OF Summit county and
treasurer OF Park City. The other direc-
tors are Messrs. w. ~. Chisholm, treas
ufer and manager Of the Centennial Eu-
reka Mining company; Simon Blmbef.
ger, capitalist, and general manager Of
the Great Salt Lake and Hot Springs
railroad Robert Hardness, general
counselor Rio Gmnde Western railroad;
]. I. Woodmau, capitalist and president
Centennial Eureka Mining company
George NJ. Downcy. president CONNER
cial National Bank OF Salt Lake City; w
s. Mccormick, Of Mccormick x Co.
bankers; David Keith, president Of th,
Silver King mine and superintendent o
the Anchor Mining company. These
gentlemen are all thoroughly responsible
business men. The statement on lull
nth OF this year shows the bank to be II
a very fourishing condition, with a CAPT
tai stock Of SO, COO, surplus OF IS, $50 anC
over $40 600 in deposits
Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1895-09-10

One OF the most popular as well as
one OF the most ably and conscrva-
lively managed financial Institutions OF
Salt Lake, is the State Bank OF Utah. IL
was incorporated and founded IN NAV,
1900. Its capital stock Il $4,000. fully
pad up, and il has ever been recognized
rs most safe and rcmunefative invest
ment. The board Of directors includes
the following prominent citizens and
capitalists: Messrs Heber ]. Grant, Io-
seph L. Smith, Charles >. Burton, WIN.
h. Preston, Abraham II. Cannon. Heber
NJ. Wells, Spencer Clawson, Z. Il. Farms.
worth and Isaac Bauon. These are "a.
miiar naines; those of regrcsen-
tatiye business men ard lnan-
meters. Mr.. Hcber J. Grant Is prssi-
dent, position TO which his we'll
known enterprise, sound Judgment aud
conservative methods Justly en,i,lc him.
Mr.. VIM. b. Preston, as vice-prcsident
Is an executive officer OF wide expert.
ence and ability; while lleber NJ. Wells,
cashier, Is widely snd iavorably known
in financial circles The bank IS In q
prosperous condition paying regular
dividends and having a surplus fund OF
| $4,000. l, is a general iavorltr with
| active business men, having the accounts
of many OF our leading firms, corpora,
tons and individuals, and is especially
favored with accounts OF country stores,
stock and wool men, for whose trade the
institution Is always on the alert. 1t also
handles much of the choicest Commercial
paper issued here and It's lines of loan.
and discounts are OF large amounts. The
bank attends to commercial banking IN
J all its legitimate branches, receiving opeI
Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1895-09-10

accounts. making collections on all
points. buying and selling foreign ex.
change, issuing drafts aud letters OF
credit, and in every way promoting the
interests Of It's customers. 1t possesses
ample facilities ior the Transaction
OF business and gives it, pat
rons perfect service, being IN
these respects model financial insu-
tuition. and one in every way well worthy
Of the great success II has achieved u
has Of recent years been AN important
factor in the development OF the re-.
sources OF the city aud Territory and
Salt Lake IS to be congratulated upon rs
possession.
Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1895-09-10
pc.crr, NATIONAL nnnl..

This bank was Organized IN 1860, as a
private bank, by Messrs. Hooper, FL
dredge & Co and after n prosperous
career was in 1879 Incorporated under
the National Banking act, as the Deseret
National bank, with paid up capital of
Sloo, 900, and which was promptly sub
scribed for by the leading capitalists and
business men and was afterwards in.
creased TO $500, 600. Its stock has ever
been held at high premium as the most
remuneTative of investments. MI !. :.
Hills is president, Mr. Moses Thatcher,
vice president and MIR. H. S. Young
cashier. These with the directors, form
a representative body Of business men,
whose names are synonymous with
stability and integrity. President Hills
is one of Salt Lake City's best known
and conservative inanclers whose Judi.
cious and able methods have contributed
so materially to the marked prosperity OF
the bank. AS vice president he has the
valuable support oil Mr.. Moses Thatcher,
who Is one OF the most extensive capital
lists In the Territory. Mr. II. s. Young
Is an old resident OF this city and is re-
garded as an able iinancier. This banl
Is in q remarkably prosperous condition
Notwithstanding the pressure OF hard
times. It's assets reach the aggrega,,
OF s2,IS4,63L7o. The soundness anC
ability Of the management is best PROVED
by the fact that the bank has a surplu
fund of $500, COO, accumulated from TIN
profits The bank transacts a genera
business, making collections on al
points, having among their correspon
dents the leading banks throughout III
world. The following, including tn
officers, compose the board Of directors
viz; Messrs. Nm. w. Ritter, Jas. +. Little
James sharp, John X. Winder, Frank w
Jennings, George Romney, John X
Barnes, John L. Cutler, Henry Dir
woodey, David II. Peery and Z. X
Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1895-09-10

IUVUslrU, Inns UdUT TtNtINV0 WVVV77E'
and pays interest on the same IN sums
OF one dollar and upwards. Interest
Is paid ON savings twice a year ana AZ
the rate Of s per cent. By It's sound and
liberal methods this bank has acquired AN
immense business, while at the same
time il has been OF inestimable value TO
those who have taken advantage OF It's
inducements and invested their savings
Its growth has been commensurate with
the ability and progressive spirit OF It's
management.
Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1895-09-10

This company was Incorporated in May
1899 and has met with great success. II
Is a combination Of a Cooperative Saw
ings Bank aud a mortgage loan company,
combining all the best qualities Of each
and offers very special inducements.
The statement Of the company. ending
with June 50, 1906 shows It to be in a
healthy financial condition and the pre-
sent assets aggregate s5S5,63SL3, OF
which sjii ,6fg.7S. are securely invested.
Mr.. Francis Armstrong. the president,
Is also president of the Utah Commercial
and Savings Bank and his wide expert
cnce and conservative ideas contribute
largely to the company's prosperity.
The other officers are: vice president,
2. W. Madsen, treasurer John X. Win
der IT, secretary, ]. b. Toronto. a. II.
Atkinson, assistant secretary, and c. w.
Morse, attorney. Office "a East First
South street.
Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1895-09-10

the caption OF our pIltl
sketch. 'fhis bank was
organized and incorpor-
ated In 1889. and in The
first year OF It's uxis,er &C
achieved q most cnviable
record The capital stock
OF tire bank is 500, coo,
but this IS further aug
men,ed by the handsome
surplus Of 10000, and
undivided profits amount
ing to more ihan $40 90.
The officers and directors
OF the bank are among our
leading and most conset'
vative capitals $ and busi'
ness men. Mir James 7
Little is president; ME-
Moses Thatcher, vice pre-
sident, and Mr.. Elias A.
smith, cashier. i hese
gentlemen are hnanciefs
OF recognized ability and
long experience, the SPLEEN
did condition Of the bank
anording the stringent evil
dence OF lis good manage
ment. The total assets
OF the bank are is2+,'
7o9.6s, all we'll and safely
Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1895-09-10
yIon., sayIng. ilrnh a Trust 90.

The above well-known banking insti-
tuition was established, August 9th,
1875, aud since it, inception, has gradu-
ally increased lis business, until today Il
stands among the foremost institutions Of
the kind in Utah. The following IS the
statement Of the condition OF the bank at
the close OF business, June 29,h, Isqs,
which speaks for itself. Resources;
Loans aud discounts, sbo6S,75j 30; real
estate, s5sg,95SSl; cash on hand and
with correspondents ,SfoA,I59.o2; county
warrants, siiI, total, si,522,gs4 %. Lia-
Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1895-09-10

Among the solid banks of Salt Lake
Civ Is the Utah Commercial & Savings
bank. which has capital OF f2oo, 600 and
a surplus of sio,ooo. 1t was incorpor.
ated In 1890 under the present style and
since that time has done a very large
business OF general banking and saw
ings character. The business In the
savings department Is done on very LID.
cral terms, s per cent intefes. being PAD
on deposits and compounded tour times
yeaf. It's officers are; FRANCES Arm
strong, president; 7. w. Madsen, vice
president; James L Jennings, cashier.
Coresp is solicited
Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1895-09-10

The banker whose place OF business Is
located at % South Main street, has
long been a residen, OF this city and has
been engaged in the banking business for
many years. lie was cashier Of
Zion's Savings Bank & Trust Company
for eighteen years. In 1892 he esiab.
lished himself in his present business.
lie transac,s a general banking business
and also deals very extensively In stocks
and bonds, buying and selling through
out the United States. lie also deals
extensively in realty and has handled
some Of the largest deals in this city.
Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1895-09-10
ncscrc, savings Hanh.

Savings banks are the Irandost oil ail
financial institutions, placing as they 90
within the reach OF the poor man SAFE
and remuuerative investment ior h's3
small savings. One OF The leading and
mos, rcpr, sentative savings banks N ms
city Is unqaestionably that which iorns,
Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1895-09-10
BANKS OF SALT LAKE CITY.

'ARV ELOUS
as has been the
development
within the las,
few years, o.
other lines OF
business in this
Territory not
one has out
, stripped that OF
\ banking. At
,he opening Of
1.-THE wear 1855
There were IN
this city only
| one national