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THE BANK OF EPHRAIM "The Peoples Bank" Gwen J. McGarry 35 East Center Ephraim, Utah 84627 and intestional fortitude by men of vision and dedi- According to the handwritten minutes kept of the held November 18, 1905 in a private home, the following men were in attendance: J. F. McCafferty, C. J. Fisher, Adolph Hansen, Peter Greaves, H. P. Larsen, L. M. Olson, T. J. Edmunds, C. A. Larsen, Willard Pehrson, Thomas Font in and Joseph Nelson, a represent*!" tive of the Utah National Bank of Salt Lake City. L. M. Olson was chosen chairman with C. J. Fisher, Joseph Nelson was asked to explain the legal issues, liabilities of the stockholders and the necessary pro- to draw up the Articles of Incorporation to be presented at the next meeting. S25.0O0.O0 with 250 shares of stock to be issued at 5100.00 per share par value. It was also determined that the bank would be chartered as a State Bank rather Bank of Ephraim was selected over Ephraim State Bank, A the stock. A 25% down payment would be accepted with full payment by December 1906. The following seven holders meeting: L. M. Olson, Joseph Nelson, C. F. Fisher, T. J. Edmunds, C. A. Larson, H. P. Larsen, J. F. McCafferty. 125 |
