The Ogden standard. [volume] (Ogden City, Utah) 1902-1910, 1910-02-02
SALT LAKE AND
STATE NEWS
NATIONAL COPPER
CHARTER is ISSUED
New s5ooooo Bank viii Begin Busl.
ness In Salt Lake
Today.

Salt Lake, Fob. 2-The National
Copper bank of Salt Lake today be
comes an active factor in the business
life OF this city and region.
W w. Armstrong. president OF the
bank, Tuesday received the official no
u6cation from the comptroller of the
| currency that the charter OF the bank
had been Issued. authorizing 1t 10 be.
| gin business. In expectation of this
| notification, a suite of rooms on the
| second floor of the Newhouse building
had been leased, and these viii serve
| as temporary quarters for the bank
, until the magnificent banking room.
constituting the principal part of the
| ground floor of the building, shall
! have been decorated and furnished,
| The removal TO the permanent home
| will take place not later than May J.
Meanwhile such business as comes
will he cared for In the suite on the
second floor OF the same building In
these quarters II will be possible u
transact every phase phase Of busi-
ness ordinarily done by a bank. De
poslts may be received. loans made,
drafts issued, and, In fact, every form
OF business done except such as In
vole the paying out of money. This
VIII be impossible for the reason that
no money will be kept IN the rooms,
as no provision can be made there for
Its safeguarding
Eugene Giles Cashier.
Eugene Giles has been elected cash
Ter OF the bank by the board of direct
ors Mr.. Giles has been cashier Of the
National MI Of E1,- A
change has also been made in the per
sonnel OF the board owing to the
resignation of Colonel Z, A Wall, who
has been succeeded by w. N. McGill
of Ely Mr.. McGill is longtime resi-
don't Of Nevada and one OF the most
prominent citizens OF the state The
town Of McGill, whore are located the
concentrating mill and smelter Of the
Nevada Consolidated and Cumberland
Ely Mining companies was named for
Mr. McGill.
Work has been In progress for
couple OF months pnst on the prcpnra-
5ion of the permanent banking room
'-~ occupancy. When finished. 1t Is
believed, these will be the most beau
tiful banking rooms in the west The
work is under the supervision OF the
Freed Furniture & CARPET company of
this city. to which the contract was
awarded The Frceds have employed
the most expert men In the country TO
do the actual work, so that the eN-
pec,ation is that the completed bank
will be perfect In utility aud beauty.
General Banking euainess,
Though the name OF the institution
has a mining flavor, 1t is by no means
the intention of Its founders 10 limit
its service 10 any class or form of
business activity. while The accounts
of mining companies will be wei
coined, similar attention will be given
TO those engaged in commercial par
suits, in agriculture, horticulture or
any other form OF Industrial life in
this region.
The issuance Of its charter Indicated
that at least one-half Of the authorized
capital had been paid. In fact IL was
stated Tuesday that much in excess
OF the legal requirement had been
paid In 1t Is the expectation that the
entire capital OF $500 600 shall be paid
in before the bank removes to Its per
manent home. The stockholders have
also arranged to subscribe on nddi
tional amount In order that the bank
may begin business with surplus OF
$4,000,