18589. Deseret National Bank (Salt Lake City, UT)

View Charter #2059 on SPMC

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
2059
Charter Number
2059
Start Date
February 15, 1932
Location
Salt Lake City, Utah (40.761, -111.891)

Metadata

Model
gpt-5-mini
Short Digest
95b08a5416bc514b

Response Measures

None

Description

Articles report that on Feb 15, 1932 the Deseret National Bank was taken over by the Security National Bank (i.e., closed/merged) contemporaneously with the suspension of Deseret Savings. No explicit depositor run on Deseret National is described; later legal notices (May 1932) show a receiver (H. B. Whitney) handling claims. Classification: suspension leading to permanent closure/ takeover.

Events (3)
1. October 21, 1872 Chartered
Source
historical_nic
2. February 15, 1932 Suspension
Cause
Local Banks
Cause Details
Deseret National was taken over the same night the Deseret Savings Bank suspended; the Savings bank suspension and local banking scare precipitated the action/ takeover of Deseret National.
Newspaper Excerpt
The closing of the Desert Savings Bank was announced late last night simultaneously with announcement of the taking over of the Desert National Bank by the Security National Bank.
Source
newspapers
3. May 1, 1932 Receivership
Newspaper Excerpt
DESERET NATIONAL BANK. By H. B. WHITNEY; Receiver. Date of first May 1932 (legal notices referencing receiver and settlement of claims).
Source
newspapers

Newspaper Articles (9)
1. August 7, 1931 The Salt Lake Tribune Salt Lake City, UT
Article from The Salt Lake Tribune, August 7, 1931

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Article Text

Utah Irrigation Amazes Bishop Of W est Virginia RECEIVER NAMED Legion Backs S.L. An order appointing the Desered National bank receiver of the Thomas Man for Election & Madsen Furniture company was signed Thursday by District Judge Oscar W. McConkie. The receiver was William P. Morton of Salt Lake appointed on petition of Henry H. Thursday night was indorsed by Salt Billings, doing business as the Pio Lake post, No. 2, American Legion, Wonder at the magic attained by neer Mattress company. for election as state department comthe use of irrigation in the deserts Park City, during which new officers of Utah and other western states was The action was taken at the chamwill be chosen. Mr. Morton three expressed by the Most Rev. John J. ber of commerce in view of the de- years ago served as commander of the Swint, bishop of the Catholic diocese partment convention August 13-15 at local post. of Wheeling. W. Va., in Salt Lake Thursday, on a visit to the Rt. Rev. Monsignor Duane G. Hunt, vicar general of the Salt Lake diocese. "I had heard of the role played by irrigation in reclaiming the desert Auerbach's Grocyterya wastes," said Bishop Swint on his first trip to the west, "but I was unprepared for the vast projects I have (We reserve the right to limit quantity.) seen, particularly in southern Bishop Swint was a guest in the city of Monsignor Hunt. He arrived Wednesday and left Thursday aft. ernoon for Ogden, en route to the east. Fresh Salmon, Red

2. October 5, 1931 Deseret News Salt Lake City, UT
Article from Deseret News, October 5, 1931

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Article Text

Local Securities. People Carrying More Money strong north the ore showing smal in west. outer edges of north Valeo good values the our Signs there ably more money hidden the in the family under loose by the fireplace than time in according to the Investors' The reserve showing the amount of now stand above FOREIGN BONDS the past five With Abiti large amount of currency yet along In In one before general amount hands only smal speed circulation trade. Late Quotations. Bud Co Pack Caterpil Celotex Jewel STOCKS OVER THE COUNTER INDUSTRIALS Asked Sugar States Parks Airway Clay Coke Sugar Utah BONDS. Bid. Sugar Bank 1934 Creamery Valley 97% Legal Notices. NOTICE TO CONTRACTORS. Power Power October south of and National Mengel forms State National Bank Zion's any THE COM Monsant ETHEL LOCAL SECURITIES City BONDS AND STOCKS Publication There number good bonds and stocks that may tinue to pay Interest dividends. TOOTS AND CASPER- A Surprise For Toots. John C. Cutler, Jr. YES, LIZA QUIT HER JOB LIZA AND HER AS SOON AS HE 1 WISH YOU'D BE MORE YOU DON'T INVESTMENT BANKER HERE THIS MORNING, CASPER, HUSBAND HAVE FINDS OUT SHE NEAT AROUND THE HOUSE EXPECT ME 1893 so PHONED THE EMPLOYMENT BECOME WONT BRING IN FRONT OF OUR NEW TO BE 239-240 Constitution Bldg. OFFICE TO SEND OUT RECONCILED, HOME ANY MORE MAID, CASPER! YOU NEVER DRESSED 34 MAIN STREET ANOTHER MAID! SHE OUGHT SQ SHE QUIT PAY-CHECKS HE'LL KNOW WHO SHE'LL BE UP LIKE A Telephone Wasatch 1012 TO BE HERE WORK TO KEEP PROBABLY PACK WORKING FOR NEXT! PET HORSE ANY MINUTE. HOUSE FOR UP AND LEAVE TAKE TILKA,FOR ALL THE Panama THE TION TO WHOM the County Kentucky made registration mark mark to the of the head CREDITORS OF MADSEN THIRD FOR SALT STATE HENRY doing & of other You take the entitled said Thomas Company required present the National the Main to that said order claims be Said should the security lien held the Dated Lake City, tember DESERET NATIONAL Receiver ture NOTICE OF SPECIAL hereby tax purpose levied levied Lake cent Taxes. Street Lighting SALT LAKE CITY, UTAH, SPECIAL ELECTION. OCTOBER 1931. PUBLIC NOTICE. of Salt Lake 24th places be 27th LAKE DRAIN CENT BY opened that There for State of JOHN Mayor. Attest City Sept. Last

3. February 15, 1932 Evening Star Washington, DC
Article from Evening Star, February 15, 1932

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Article Text

Banks Ordered Closed. HORNELL, N. Y., February 15 (AP).One bank suspended here over the week end and two others were merged. The First National closed its doors Saturday, directors announced yesterday. One of the oldest in this part of the State, it was capitalized at $300,000, with resources of approximately $3.000.000. The merger united the Steuben Trust Co. a State bank with resources of $2.500,000. and the Citizens' National with resources of about $3,000,000. SALT LAKE CITY. February 15 (AP). -The closing of the Desert Savings Bank was announced late last night simultaneously with announcement of the taking over of the Desert National Bank by the Security National Bank.

4. February 15, 1932 Evening star Washington, DC
Article from Evening star, February 15, 1932

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Article Text

BONDS ON NEW YORK STOCK EXCHANGE The Star Office. Private Wire Direct to Received by BONDS. Received by Low. Low. 2:55 High. Low. UNITED STATES. 35 14 Bolivia 6 (Sales 39 101% 101% Int 2:55 Bordeaux 100% 100% Con Lib 94 Copenhag Cuba 89 89 66 Denmark Japanese 76% 261 100 Kan Abitibi Buenos Det 95% Alleghany Allegheny 5a 59 Allegheny Canada also to Metal Sug Ref demand. Lorillard Lorillard Am Am Util Am Wr Pap Argentine Vienna Washington Produce Wabash Wabash prints, 26: tub. 25. Wabash -Hennery, 14a15: current receipts. 13a14 Poultry old toms. 15a adj 18; young toms and chickens. pounds and over, 16a18: 1st to 20; 1½ to 2 Australia pounds 20a22: hens. large 17a18: small, West Leghorn Australia young old 25a35 Poultry old toms, Austria 18a21; young toms and hens, 23a25; chickens. pounds and over, 19a21 to Mor&Co 72% Nassau 55a60 old. 50. young. Meats- Beef. prime. 12: medium, 11; lamb. 14 medium. 13: top. Hungary 16: medium. 15: pork loins, 11; fresh hams, 13: smoked hams. 16a17 strip Aroos Bell Belgium Fruits Strawberries, pints, 10a15 Belgium 1.00al.25 box stock. 2.00a2.25 oranges, Belgium Ind 4.00a4 50 honeydews. 2.50: plums Chile, Bell 2.00: grapes, 3.00a3 kegs nanas alligator pears, 2.50a 3.00: rhubarb hot house. pounds, 50a Beth Vegetables Potatoes Maine, 100pound sacks, 1.25: New York, 1.15: Bolivia Bolivia beans, 1.75a2.00 Jimas 6.00 peas, 7.25a NEW YORK CURB EXCHANGE kale 50; spinach. homegrown. 50a75 Direct to The Star Office. Private designated letter share except those Open High Close Stocks High Close Open 4.50a5 watercress. 75: okra, 3.00 Power 224 109% Mohawk Banks Ordered Closed. 16% HORNELL N. February 15 bank here over the week others The Am Cigar Co First closed its doors yesterday One of directors the in this part of the State it capitalized at with re- Cyanamid was The merge the State bank with resources of $2.500,000. and the Citizens National with Invest resources of about $3,000,000 SALT LAKE CITY. February 15 The the Desert Savings Bank was announced late last night with announcement the taking over of the Desert National Bank by the Security National Bank. U. S. Leads in Alumnium Output. Associated The United States leads all other countries in the production of alumi- Ohio Copper num statement by the Bureau of Mines says six countries supply about 88 per cent of the aluminum produced in the world. These order of impor- Atlas Parker 350s tance said the States, Canada, France. Switzerland and NorThe metal was said to be the most Brazil abundant in the earth's Washington Stock Exchange %) Cable Pitney SALES. Polymet Propper Capital Traction at 60. Bid and Asked Prices. Celanese Radio PUBLIC UTILITY Asked Cities 58 Lts Regis Paper 109 Rhine Gas (3.60) Seeman Vernon Ind Board Mining Dayton Eng Radio STOCKS. SW Penn Stand PUBLIC Stand Cond Durant Stand Ohio Pow Starrett Saxon Assoc Capital (stamped) Shell Empire Bk Empire Ltd (30c) Evans Taggart Washington Sugar TRUST COMPANY Motor Solvay Foremost Loan Tri-Cont SAVINGS Tung Sol Bank Theat Golden Unit Dry Docks FIRE INSURANCE Oil of Penna Union Taiwan TITLE INSURANCE Bay Unit (1) Third Utility Insur (2) Ind Utility & (30c) 20s Equity King Lefcourt 1% Lothrop Dividend based Leonard Oil. Synd Uruguay extra Uruguay extra.

5. February 18, 1932 The Times San Mateo, CA
Article from The Times, February 18, 1932

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Article Text

Salt Lake Banks Unite, Scare Over LAKE CITY, Utah, Feb. banking situation in Salt Lake City today gradually turned to normal after conditions caused of the Deseret Savings bank. Simultaneous with the Savings bank suspension, the Deseret National bank, separate institution, taken over by and the Security National bank. The capital structure the SecurNational bank the consolidation is $750,000, surplus $250,000, and undivided profits and reserves $250,000. new potato masher has been that clamped to the edge kitchen table.

6. March 8, 1932 The Salt Lake Tribune Salt Lake City, UT
Article from The Salt Lake Tribune, March 8, 1932

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Article Text

DEPOSITORS BANK THREE ADMIT SPEED CHARGE Deseret Savings and Des- eret National One Institution, Suit Says Alleging relationship between the recently closed Deseret Savings bank and the Deseret National bank, which latter been taken over by the Security National bank. Lynn Cummings and seven others filed Monday Third district for recovery claims against the three banking institutions number officially with the two first named banks. calls for general marshaling the banks' contended that operation the and bank had venture banking in Salt Lake, occupying and owning the estate, building holding these plaintiffs, all other the public generally that the banks were effect one and institution. Plaintiffs Depositors The plaintiffs represented by Hatch Bradford, G. M. Sullivan Walton. individual defendants, it are directors the other the Deseret National bank and Deseret Savings bank, and some directors officers of both. Mr. Cummings his the declare prior to Febru14, the day after the savings the Deseret National bank had for years media that the was assets greatly exceeding The which filed suit has aggregate $12,455 on deposit, cording the papers the Insolvency the Deseret Savings bank was about by negliand breach duty the the individual defendants, leged. Imprudent investments partly blamed by plaintiffs. Alleged Relations Claimed The Deseret National bank claimed, its public its relations the Deseret Savings bank, have sumed the savings bank's deposit liabilities and should be estopped denying substantial identity the Some the plaintiffs, says on Deseret National bank and the National for their deposits and been reMr. Cummings and his associates that the great number there will of suits subject matter is disposed of their suit in equity. Motorist Wins Acquittal on Charge of Reckless Driving Three motorists pleaded guilty to speeding charges in police court Monday. Earl Morrison and Lloyd Rudy were fined $15, with the alterof five days in the city jail, while Dallas Aud will be sentenced Saturday. Morrison, Saturday by Patrolmen W. M. Rogers and Owen Poulsen Second street, near Fourth North street, admitted he was traveling more than 40 miles an The officers said Rudy was speeding 50 an Beck North street when they him. Aud admitted driving miles Second West street between Fifth and Sixth North streets, ThursLimhart was found not guilty reckless driving in Oscar W. McConkie's of the Third district court Monday on appeal taken Murray city The from 26, which Vaughna Baker jured her backing out parking place.

7. May 9, 1932 Deseret News Salt Lake City, UT
Article from Deseret News, May 9, 1932

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Legal Notices. PROBATE AND GUARDIANSHIP. Consult Clerk or respective signers for further NOTICE TO CREDITORS. deceased. Judge Build Utah. 1932. the 20th day June, Zions Bank Trust estate of Date first April Attorneys for NOTICE. No. In District the Third for Lake State doing Thomas and Furniture ComIn the of the of Receivership above and the the of and ture Notice that the report petition Bank the and and for allowance and all with claims filed with praying authority to pay dividend on claims to certain certain of the Ruth and disallowance Peterson, Young Brooks, T. Brooks and Midwest praying against said for to paid of creditors for recovery of has for the judge of County Salt on at ten said DESERET ATIONAL BANK. By H. B. WHITNEY Trust Date of ASSESSMENT NOTICE. At directors of Line Company April per was against the out. and May 1932 the of the Should any remain unafter 25th. 1932. steps will be dispose parcels may be pay such and the of sale. Secretary. GEO. J.

8. May 11, 1932 Deseret News Salt Lake City, UT
Article from Deseret News, May 11, 1932

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Legal Notices No. the District Court the Third District, for Salt Lake State Henry doing business as Thomas and Furniture the Receivership of and Madsen the above and of esta of and that the report and receiver of the named receipts and in said and settlement of of claims filed reference praying for pay on claims allowed. for certain and for compromise and of Mrs. Young and Midwest Fibre company. for against and T. for claimed to been paid creditors recovery of has been hearing before the H. judge of the the City Salt Lake City, Utah on County on DESERET Receiver NATIONAL BANK. of Thomas & By H. B. WHITNEY Trust Officer. Date of first May 1932. Consult County Clerk signers further NOTICE TO Decker and Emily first Attorney for

9. May 12, 1932 Deseret News Salt Lake City, UT
Article from Deseret News, May 12, 1932

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Legal Notices No. 48041. In the Court the Third for Salt Lake State doing as Thomas and Furniture ComReceivership of Madsen Company. above and to in the and ture Notice that the report petition the above dereceipts and in said receivership and praying for and of claims filed with praying for claims allowed. for to certain and for certain recomthe and disallowance of claims of Ruth Mrs. Mrs. Peterson, Brooks, Young Brooks and Midwest Fibre company. and said for authority suite against D. for the claimed to been money paid in of creditors recovery of assets withdrawn from has been before judge of above County City on 11st day at ten a.m. said DESERET NATIONAL BANK. Receiver Thomas By WHITNEY Officer. Date of May