HENRY OLLESHEIMER, if PResipeNnt CAPITAL WILLIAM M. PERKINS, Vice-PREs. GILBERT A. M. B. SAYRES, DEDERER, SEcOND Vice-PREs. THIRD P. LARBIG, Asst. SS ‘ CASHIER FRANK W. FRAZEE, Asst. CasHIER Macs 5 NMN Aas S \ Ws MEMBER eae aid 237? Street New Pork NEW Favrucry Mr. M. S. Browning, Vice-President, J. M. Browning & M. S. Ogden, Dear OF CLEARING-HOUSE 1918, Co,, Utah, favor of $100,000, the 7th and $50,000,, company for proceeds to your credit, received from First the Loan 4% Bonds, heave made Reserve Bank, account execute inst. of thet National Bank, the to the $50,000, which send correspondence return we together have to Ogden, dated us, we Utah, as collateral Utah National Franciscd, and received, with today netes $65,000, par us $25,000. Bonds, making a total have to credit todey, we will placed you a substitute very ycur ordered frem collateral note, for we have the one placing also of Liberty to your note of $50,000,, has Yours end the Federal of $90,000, which, if you discounted truly, Cl. eZ (Enclosure) value Ogden, sent your and have Bank, we of and discounted, as per the accompanying memorandum-slip; San previous is which which we are holding notation In will 15th, YORK Sir: Your for $1,000,000. VicE-PREs. AUGUSTUS C, CORBY, CASHIER JAMES L. MILLER, Asst. CASHIER WILLIAM $2,000,000. SURPLUS Ltd y ~ Gashier, today.