The Peoples Bank

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Title Saga of the Sanpitch Vol 24
Subject Pioneers
Description Stories and poems about early Southern Utah Pioneers
Publisher Snow College
Date 1992
Type Text
Format application/pdf
Language eng
Rights Management Snow College
Holding Institution Snow College
ARK ark:/87278/s64x55x4
Setname snowc_sts
Date Created 2005-03-01
Date Modified 2005-03-01
ID 325222
Reference URL

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Title The Peoples Bank
Description In October 1911 running water "taps" were installed in the bank. Each tenant was to pay for their own "tap."(8) In the early part of 1912 a group of men organized It was to be called the Farmers Commercial Bank. Seeing no need for a second bank in Ephraim the directors of the stock from the original sum of $25,000.00 to $50,000.00 with 500 shares of stock being issued at $100.00 per share. According to the records and minutes oi director meetings solidate with the Farmers Commercial Bank by selling raising the Capitol to $50,000 was passed. Amendments to the Articles of Incorporation and notification to State authorities completed the process. William G. Barton and Andrew Christensen were elected as additional directors. Ben Rasmusson was hired as assistant Cashier.(9) During 1913, savings accounts and deposits of South Sanpete School Board, City, County and State governments were solicited. Correspondent accounts were established with Utah State National Bank. The State Banking Commission began imposing regulations and doing regular examinations. Loans to sheep men, cattlemen and farmers In January 1914 Andrew N. Bjerregaard was elected President with C. Willardsen as Vice President and Fred Rasmuson as Cashier. Loans were made to the Ephraim Sanitary Canning Company and to pea farmers who supported the cannery. In 1916 it was decided to close the bank at noon on Saturday from May 26 to September 1.(10) Very little reference is made to World War I during 1917 to 1918 except that the bank purchased Liberty Bonds. Also the bank was painted inside and out and a discussion of remodeling the banking room was held. In April of 129
Format application/pdf
Identifier 143_The Peoples Bank.jpg
Source Saga of the Sanpitch Vol 24
Setname snowc_sts
Date Created 2005-02-19
Date Modified 2005-02-19
ID 325182
Reference URL