The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1909-04-03
JORDAN BANK BATTLE
WILL GO TO FINISH
Continued from Page I.

continued from Fd8S u
Junction business. and I feel confident
that it viii be a success"
In a circular issued by the authority
of the directors of the Jordan state
bank to the stockholders and deposit
ors OF the bank an effort IS made 70
give the side Of the Nelson faction N
the bank controversy. The circular
blames J. W. w. Fitzgerald, without
naming him, for the disquieting condl-
ton now prevailing, and declares that
he wilfuIly poisoned" the minds OF
some of the stockholders and deposltors
against the majority interests. F1tz-
gerald is referred to as man owning
only five shares Of stock.
Circular is sIssued.
The circular, in full. follows:
TO the stockholders and depositors
of the Jordan State bank. and citizens
of Bingham Junction and vicinity;
AT a meeting held by the directors
of the Jordan State bank, a committee
was appointed to draft a brief circular
setting forth some of the facts connect
ed with the present unpleasantness eX-
listing in the banking situation at Blng-
ham Junction, as much misrepresenta-
ton has been made and erroneous con-
illusions drawn, chiefly from a misun-
Outstanding of the truth and partially
by Wilful misstatements. The facts
are that the State Bank of Utah owns
and controls, absolutely and bona fide-
! ". at this time. a controlling interest in
I the Jordan State bank, and the direc
/ tors representing this interest on the
board have employed every means IN
their power TO pTopitate and paclty the
minority interest, but so far have been
unsuccessful. chiefly for the reason that
r
/ stock has presumed to dictate and con-
troll absolutely the policy of the insti-
tuition, and has never missed an Oppor-
tunity to poison and bias the minds of
the present shareholders, depositors and
citizens residing in this END of the
county against the majority shaTehOld-
ers The directorate of the State Bank
/ of Utah is composed Of such men as
/ President Joseph F. Smith, John ).
| Bransford, mayor of Salt Lake City; a.
/ W. Carlson, secretary and treasurer of
IL. c. NJ. L; Heber NJ. Wells. James D.
Murdoch. capitalist and member of the
/ city council; Samuel Newhouse, Bishop
/ c. W Nibley, and other gentlemen Of
prominence and prObity of character;
men who would not do, nor consent to
the doing Of an illegal or unfair thing,
and any person who charges that ma
| jority Of the present board of the Jor-
/ dan State bank is doing or has done or
has consented to the doing of an illegal
/ or unfair transaction q in connection
with the recent election of officers and
/ directors of the bank or the conduct of
it's affairs, is guilty of wilfully- and
knowingly misstating the facts. and we
ask all good citizens of this vicinity to
withhold their judgment until they can
get a full and fair hearing Of both sides
of the case, and to suggest TO those cit
II liens whose minds have been prejudiced
by hearing only one side of this case,
and who have been induced to Join in
the formation of a competitive bank.
to pause before they loan their money
and assistance to the new project with
out fully understanding that they are
entering what may probably prove to
be a long drawn out contest and one
that may not yield much profit to either
side.
Depositors Are Safe.
"Of one thing. the depositors of the
Jordan State bank may rest assured
that their deposits are absolutely safe
when guarded by such well known bust
ness men and bankers as William
Aylett, president of the Jordan State
bank; Henry T. MeEwan, vice presi-
dent of the Jordan State bank: o. c
Beebe, cashier of lions Savings Bank
& Trust company. and Charles 5. Bur
ton, cashier of the State Bank of Utah
for with their abundant resources they
are able TO easily meet any contingent
cy that could possibly arise in this vi
cinity.
1--WE invite the cooperation of all thu
i business men and residents of this sec
ton; would like to have them come anC
talk to US, and we will make it our frs
duty to wait on them as fast as posi-
bic and assure them of our firm inten
ton to build up Bingham Junction, L
protect the interest of our friends ant
4 associates in this vicinity and, as sOOl
4 as possible, place tina. control of the af
fairs Of the Jordan State bank in III
hands of good honest and capable cit
q liens Of Bingham Junction. This beint
= the policy Of the state Bank of Ut2l
4 since its organization in 1890. and sine
8 which time it has assisted in the organ
s ization and helped with all its infuenc
4 the growth OF many local banks
BY order of the board Of directors.
JORDAN STATE BANK"
The fifty shares of stock I'm the Jor
8 dan State bank held in the name of 10
seph T. Smith. as trustee-in-tr trust 70
8 the Church of Jesus Christ of Latter
q day Saints. was today formally en-
4 dorsed by President Smith to the Stat
q Bank of Utah. and viii be transferre
3 on the books of the Bingham Junctio
8 bank to the names Of the directors rep
8 / resenting the so-caned Nelson Interests
q This will give them the undisputed pos
3 session Of seventy-seven Of the II
s shares in the Jordan State bank.
q F. Y. FITZ GERALD.
8 If you have backache and urinar
= r