Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1907-01-11
BANKERS TO FORM
NEW ORGANIZATION
-----~-------------A-.
viii Include All Institutions Doing
Business in State Of
Utah.
PRELIMINARY STEPS TAKEN.
Consisting OF Action by salt sa&e
Clearing House Members I'm Fa-
vor OF the Movement.

AS the result of the election of new
officers, and a new board of directors
by the Salt Lake Clearing House ASSOC
citation az its annual meeting yesterday
afternoon. a vigorous policy of expan-
sion is to be pursued.
The plan is to extend the clearing
house facilities to all the bankers of
the state, in so far as this general
council of hank officials affects the
making Of bank policies and the gem
eral method of doing banking business
Secy. Jos. Nelson, who was elected
yesterday. was instructed by the pro-
visions of a resolution passed at the
meeting, TO write at once to all state
bankers, asking them to express an
opinion as to the deslrability of forming
a State Bankers ASSOCIATION. II the
opinions turn out to be favorable, as Il
Is expected they will, a conference Will
be called to form the organization.
OPPoRTUNE TIME.
President Chas S. Burton of the
Clearing House association said today
in speaking of the proposed organIza-
ton, that ii was one which most other
states had already formed. Hereto
fore ii has not been formed In Utah, as
there has been some feeling that there
were not enough banks, Now, however,
the number OF banks is rapidly in
3,
business they do. and 1t seems that the
time Is opportune to organize. For in
stance our 1906 clearings were S22S. 000-
900, as compard to only $21l, 100000 for
1905, and a littl over $100000.000 for
1904, The organization at It's meetings
will thresh out many points of bank
ing policy, and be sure to result in uni
forrnity of methods. and in good In
many other ways"
L. II. Farnsworth, a new director,
and Asst. Cashier of Walker Bros.
bank said that he had long favored
the move. and was glad II was under
way. Il think it is move in the right
direction he said, land while ! can
see much in favor of 1t, ! cannot see
any disadvantages. There are many
reasons why the bankers can protit
from getting together and knowing
each, and the net result is sure to be
advantageous to all concerned"
COMMON UNDERSTANDING.
Secy. Nelson said that he thought the
bankers should take an interest in tho
things which affect them in common
For instance" he said, I'VE should
have common understanding on the
method of bank examination. and
should take an interest in the appoint
ment of a state bank examiner.
Then In case a bank becomes over
loaned or has an unusual demand for
funds made by It's customers. II could
be helped. so long as It is perfectly
solvent. ard in this way the association
would do much good, l hope to get
many and favorable replies from the
letters sent out"
Cashier Harry Clark OF the CONNER
cial National bank was equally In
favor of the movement, which seems
to have the unanimous support of Salt
Lake bankers, He declared that it
would provide a method for the inter-
change of ideas on financial methods,
which would be bound to result in good
to everyone concerned.
The letters are now being prepared
by Secy Nelson and will be sent out
within the next few days.