The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-02-02
NATIONAL COPPER
CHARTER IS ISSUED
New $500,0O0 Bank Will Be-
gin Business in Salt Lake
Wednesday.
TEMPORARY QUARTERS
IN NEWH0UjSE BUILDING
Permanent Home in Same Struc,
ture TO Be Ready
May |.

The National Copper bank OF Salt
Lake "Wednesday becomes an active
factor of the business life of this city
and region.
W. w. Armstrong, president of the
bank, Tuesday received the official no
tiication from The comptroller of the
currency that the charter of the bank
had been issued. authorizing II 10 begin
business. Ina expectation of tins nouh,
cation, Il suite of rooms on the second
floor of the Ncwhouse building had
been leased. and these Will serve as
temporary quarters for the bank until
the magnificent banking room, consti.
tutinc the principal part OF the ground
floor of the building, shall have been
decorated and furnished The removal
10 the permanent home Will take place
not later than May ].
Meanwhile such business as comes
will be cared for in the suite on the
second floor of the same building In
these quarters il will be possible to
transact nearly every phase of business
ordinarily done by a bank. Deposits
may be received, loans made. drafts
issued. and, in fact, every form of
business done except such rs involve
The paving out Of money. This viii be
impossible. for the reason that no
HIpIiN Will IN hfni III lHV Ip'hN. "S Nv
provision can be made there for It's
safeguarding.
Eugene Giles Cashier.
Eugene Giles has been elected
cashier of the bank by the board of
directors Mr. Giles has been cashier
OF the First National bank Of Ely. Ncv,
\ change has also been made in the
personnel of the board, owing 10 the
resignation Of Col. f. \. Wall, who has
been succeeded by W. \. McGill of
Ely. Mr.. Mctiill is long time resident
prominent citizens Of the state. The
town of McGiIl. where are located the
concentrating mill and smcltcr Of the
Nevada Consolidated and Cumberland
Ely Mining companies, was named for
Mr. McGilI
Work has been in progress for Il
couple of months past on The. prcpara-
for occupancy. When finished, it is |
believed, these will he the most
beautiful banking rooms in the west
The work Is under the supervision of
The Freed Furniture and Carpet com
panY Of this city, TO which the contract |
was awarded. The Freeds have cnl-
pIoycd the most expert mon in the |
country to do the actual work, 50 that |
the expectation is that the completed |
bank Will be perfect in utility and |
beauty, !
General Banking Business
Though the name of he institution
has a mining favor, il is by no means |
the intention of its founders 10 limit |
lis service to any class or form Of bus, |
ness activity. While The accounts of |
mining companies viii he welcomed |
similar attention Will be given TO those |
engaged in commercial pursuits, in acri. |
culture, horticulture or any other form
of the industrial life of this region.
The issuance Of Its charter Indicated |
that at least one-half of the authorized |
capital had been paid In fact, it was
stated Tuesday that much in excess of
tic legal requirement had been paid IN
IL Is the expectation that the entire
capital of 100000 shall he paid in be-
fore the bank removes 10 its permanent
home. The stockholders have also ar
ranged 10 subscribe an additional !
amount IN order that the bank may
begin business with surplus of $50
600.