Thatcher Brothers Banking Company Papers, (1883—1962)

COLL MSS 3

Historical Note:

In 1883, Logan, Utah’s first bank was formed through a partnership between George W. Thatcher Sr., Moses Thatcher Sr., H. E. Hatch, W. D. Hendricks, S. T. Josselyn, and W. A. Rossiter, who organized the Thatcher Brothers & Company Banking with $58,500 in capital. Restructuring occurred within the bank in 1889, when it changed its name to Thatcher Brothers Bank Company (TBBC), and had $100,000 in capital. Within a year the bank built a large brick structure for $70,000 dollars on Center and Main Street of Logan (the current location of the Wells Fargo Building). This new building housed the Thatcher Brothers Banking Company on its lower levels and the Thatcher Opera House on its two upper floors. From 1889 to 1913 the Thatcher Brothers Banking Company acted as trustee for the sale of endowment lands from the Brigham Young College in Logan. With Moses Thatcher’s involvement in the bank, and his status as an apostle for the Church of Jesus Christ of Latter-day Saints, some people perceived the Thatcher Brothers Banking Company as a “Mormon bank.” In response a gentile-operated bank, the First Security Bank of Logan opened in competition to the Thatchers in 1892. Thereafter a number of banks opened in Cache Valley, such as the Hyrum State Bank (1908), the State Bank of Richmond (1908), and the West Cache Bank (1915). With the death of George W. Thatcher in 1902, H. E. Hatch became acting president of the Thatcher Brothers Banking Company until the 1930s.

Misfortune struck at 5:00 pm on April 17, 1912 when the Thatcher Bank caught fire, consuming the entire structure. Although this was the end of the Thatcher Opera House, temporary quarters were arranged to continue banking. By 1915 a new $150,000 building was erected on the site of the burned structure. With business continuing, the Thatcher Brothers Banking Company took over the assets and liabilities of the West Cache State Bank in 1922. Financial difficulties from the agricultural depression of the 1920s hurt the banking industry in Cache Valley, and in 1928 the First Security Corporation acquired ownership of the Thatcher Brothers Banking Company, the State Bank of Richmond, and the Hyrum State Bank. In 1933 the Thatcher Brothers Banking Company changed its name to the First Security Bank of Logan.

Sources:
Mss Collection 3: Thatcher Brothers Banking Company Papers, Box 1, Fds 25—31.
Mss Collection 43: The Cache Valley Historical Society Papers, Box 2, Book 2.

Provenance:

The materials contained in this collection were donated by the officers of First Security Bank during the years of 1970—1973.

Scope & Content:

This collection consists of the financial records of the Thatcher Brothers Banking Company, the Hyrum State Bank, West Cache Bank, and the First Security Bank of Logan. The collection consists of nearly 170 ledgers and three boxes of various papers, which contain financial information on Logan’s first bankers, George W. Thatcher, Sr. and Moses Thatcher, Sr. In addition, since the Thatcher Bank was the only bank in Cache Valley from 1883—1892, these records contain extensive financial information on Cache Valley’s residents and businesses during this time period. Although boxes 1 and 2 (and many of the ledgers) in this collection contain correspondence, researchers should also see COLL MSS 47: George W. Thatcher, Sr. Papers, which contain a substantial amount of early business correspondence for the Thatcher Brothers Banking Company.

This collection is organized into three sections, section I (the majority of the collection), contains records from the Thatcher Brothers Banking Company, section II contains 13 ledgers from the Hyrum State Bank, and section III contains two stock ledgers related to the West Cache Bank. Boxes 1—3 contain incoming and outgoing correspondence, bank employee payroll, historical information about the bank, small ledgers, account books, deeds (one relating to the Brigham Young College, Logan), and various other papers. The ledgers contain a record of the minutes of the board of directors, daily transactions, savings accounts, stock purchases, safety deposit boxes, deeds, power of attorney, outstanding loans, and other various books, such as a day book connected to the Brigham Young College (Bk 138). Although boxes 1—3 and the ledgers from section I primarily contain materials connected to the Thatcher Brothers Banking Company, they also contain a small amount of material from other Cache Valley banks.

For addition studies relating to the Thatcher family and businesses, see PO230: Thatcher Brothers Banking Company Photographs, COLL MSS 22: Moses Thatcher, Sr. Papers, PO223: Moses Thatcher Home Photographs, COLL MSS 93: Thatcher Family Papers, PO023: The Thatcher Family Photographs, and COLL MSS 175: Thatcher Brothers Banking Company Safety Deposit Boxes.

For more information about the Hatch family please see the Hezekiah Sumner Hatch Family Papers MSS 305 and the Lorenzo Hill Hatch Papers MSS 70.

Inventory:

Section I: Ledgers and papers of the Thatcher Brothers Banking Company.
Box 1. Papers of Thatcher Brothers Banking Company.

Fd 1: Outgoing correspondence, 1916—1962.

Fd 2: Incoming correspondence, A—Z (1907—1937).

Fd 3: Incoming correspondence from the International Banking Corporation, 1839—1913.

Fd 4: Incoming correspondence of the First Security Bank, Logan.

Fd 5: Correspondence of J. Mark Sorensen concerning the history of TBBC, 1970.

Fd 6: Employee payroll, 1909. (for bank employees)

Fd 7: Employee payroll, 1910.

Fd 8: Employee payroll, 1911.

Fd 9: Employee payroll, 1912.

Fd 10: Employee payroll, 1913.

Fd 11: Employee payroll, 1914.

Fd 12: Employee payroll, 1915.

Fd 13: Employee payroll, 1916.

Fd 14: Employee payroll, 1917.

Fd 15: Employee payroll, 1918.

Fd 16: Timecard of J. E. Hatch, January 1913.

Fd 17: Directors roll, 1899—1901.

Fd 18: 1931 papers concerning the purchase of assets of the First Security Bank of Hyrum.

Fd 19: Bank licenses of operation, 1931 and 1938.

Fd 20: TBBC souvenir statement, 1922.

Fd 21: A Record of Achievement, 1922 report of Cache Valley boy scouts, compliments of TBBC.

Fd 22: Savings balance papers, 1927—1929.

Fd 23: Miscellaneous papers: stock lists, bank financial status, forms, tracts, ect.

Fd 24: Roster of officers of the TBBC and the FSB, 1883—1967.

Fd 25: History of the Thatcher Brothers Banking Company and Logan Office of the First Security Bank of Utah, National Association, by Annie E. Peterson, a former employee (33 pages).

Fd 26: Drafts, on the history of TBBC, by J. Mark Sorensen.

Fd 27: “Logan as a Banking Center,” by Frederick P. Champ, broad cast over KSL radio, Salt Lake City, September 6, 1935.

Fd 28: The Thatcher Brothers Banking Company

Fd 29: The Banking Industry in the Making

Fd 30: Untitled papers on the history of TBBC.

Fd 31: Press release and newspaper article.

Box 2. Papers of Thatcher Brothers Banking Company and Hyrum State Bank continued.

Fd 1: Account book of S. W. Hendricks, 1897—1903.

Fd 2: Account book of S. W. Hendricks, collector, 1900—1903.

Fd 3: Certificate of deposit, stubs, 1921—1924 and 1927—1928.

Fd 4: Indenture document concerning the sale of TBBC to First Security Bank of Hyrum, 1931.

Fd 5: Hyrum State Bank papers, correspondence (one letter, 1915), financial status, loose papers, ect.

Box 3. Papers of Thatcher Brothers Banking Company continued.

Fd 1: Minutes and reports of TBBC stockholders meetings, 1890, 1912, 1928—1934, and 1936.

Fd 2: “Depositors in Thatcher Bank during its first year of business” (contains a list of names of first depositors).

Fd 3: Deed, 1892, concerns the Brigham Young College, Logan, and the TBBC’s duty as trustee.

Fd 4: 1888 legal document stating rights of TB & C in the Utah Territory.

Fd 5: 1902 legal agreement to sell land to complete a deed.

Fd 6: Official document from the Secretary of State, 1930.

Fd 7: Deed of Indenture with Cache Knitting Works Bond, 1933.

Minutes of the Board of Directors

Bk 1: 1889—1906

Bk 2: 1906—1912

Bk 3: 1913—1934

Bk 3a: 1908—1920

Bk 3b: 1934—1940 (TBBC), Hyrum State Bank 1920—1923, First Security Bank of Hyrum 1928—1933, and Valley Development Company 1934—1936.

Bk 3c: 1917—1953, minutes of cache valley banks.

Dividend Books

Bk 4: 1901—1915

Bk 5: 1915—1933

General Ledgers (record of the bank’s overall transactions in savings, loans, and demand deposits).

Bk 6: Book A, 1883—1889.

Bk 7: Book B, 1890—1896.

Bk 8: Book C, 1898—1903.

Bk 9: Book D, 1904—1908.

Bk 10: Book E, 1909—1912.

Bk 11: Book F, 1913—1916.

Cash Books (contains daily financial transactions from the bank, figures later posted to general ledgers).

Bk 12: 1883—1884.

Bk 13: 1885—1886.

Bk 14: 1886—1888.

Bk 15: 1888—1889.

Bk 16: 1889—1890.

Bk 17: 1891—1892, teller’s individual blotter.

Bk 18: 1896, daily ticker.

Bk 19: 1905, ticker.

Bk 20: Account book (ticker), undated.

Bk 21: 1890—1891, certificates of deposit ledger.

Bk 22: 1892—1928, certificates of deposit ledger.

Daily Balances Ledgers (contains balances and daily activity of the bank’s open accounts, succeeded by individual ledgers).

Bk 23: 1883—1885

Bk 24: 1886—1887

Bk 25: 1887—1889

Bk 26: 1889—1890

Individual Ledgers (balances and daily activity of the bank’s open accounts, figures later posted to deposit legers).

Bk 27: October 1890—February 1891.

Bk 28: February 1891—May 1892.

Bk 29: 1892, April—July.

Bk 30: 1893, January—April.

Bk 31: 1893, April—August.

Bk 32: 1893, August—November.

Bk 33: November 1893—March 1894.

Bk 34: 1984, March—June.

Bk 35: 1894, June—September.

Bk 36: 1894, September—December.

Bk 37: December 1894—March 1895.

Bk 38: 1895, March—June.

Bk 39: 1895, June—September.

Bk 40: 1895, September—December.

Bk 41: December 1895—March 1896.

Bk 42: 1896, March—June.

Bk 43: 1896, June—September.

Bk 44: 1896, September—December.

Bk 45: December 1896—March 1897.

Bk 46: 1897, March—October.

Bk 47: 1897, June—October.

Bk 48: October 1897—February 1898.

Bk 49: 1898, February—June.

Bk 50: June 1898—January 1899.

Bk 51: January 1899—March 1900

Bk 52: March 1900—March 1901.

Bk 53: 1901, March—June (A—K).

Bk 54: 1901, March—June (L—Z).

Bk 55: 1901, June—September (A—K).

Bk 56: 1901, June—September (L—Z).

Bk 57: 1901, September—December (A—K).

Bk 58: 1901, September—December (L—Z).

Bk 59: December 1901—March 1902 (A—K).

Bk 60: December 1901—March 1902 (L—Z).

Bk 61: 1902, March—June (A—K).

Bk 62: 1902, March—June (L—Z).

Bk 63: 1902, June—September (A—K).

Bk 64: 1902, June—September (L—Z).

Bk 65: November 1906—January 1907.

Bk 66: 1914, January—March.

Bk 67: 1914, April—July.

Bk 68: 1914, July—September.

Bk 69: 1914, October—December (A—K).

Bk 70: 1914, October—December (L—Z).

Bk 71: July 1922—April 1928 (A—G).

Bk 72: July 1922—April 1928 (H—O).

Bk 73: July 1922—April 1928 (P—Z).

Deposit Ledgers (balances and daily activity of the bank’s open accounts, figures posted from individual legers).

Bk 74: 1883—1889

Bk 75: January 1889—December 1890.

Bk 76: July 1890—December 1891.

Bk 77: 1892

Bk 78: January 1893—March 1894.

Bk 79: April 1894—June 1895.

Bk 80: July 1895—July 1896.

Bk 81: August 1896—April 1897.

Bk 82: 1897, May—December.

Bk 83: 1898, January—October.

Bk 84: November 1898—May 1899.

Bk 85: April 1899—March 1900.

Bk 86: April 1900—March 1901.

Bk 87: 1901, April—December (A—K)

Bk 88: 1901, April—December (L—Z).

Bk 89: Index to ledger C.

Savings Ledgers (records of savings accounts in the bank).

Bk 90: 1883—1896

Bk 91: 1896—1909

Bk 92: 1900—1908

Bk 93: 1900—1908.

Bk 94: 1911—1928

Bk 95: 1909—1926

Bk 96: Ledger #1, pp. 1—5999.

Bk 97: Ledger #2, pp. 6000—7499.

Bk 98: Ledger #3, pp. 7500—8399.

Bk 99: Ledger #4, pp. 8400—9299.

Bk 100: Ledger #5, 9300—9919.

Bk 101—03: Indexes to savings legers

Bk 104: 1880—1892, record of savings balances.

Bk 105: 1905—1908, record of savings balances.

Discount Ledgers (record of money paid on outstanding loans).

Bk 106: 1883—1892

Bk 107: 1888—1902

Bk 108: 1888—1902

Bk 109: 1922—1924

Bk 110: 1924—1926

Bk 111: 1926—1928

Bk 112: 1929, January.

Bk 113: 1920—1929, collection book.

Bk 114: 1925—1932, collection book.

General Balances (contains the balances and payments by TBBC with other financial institutions).

Bk 115: 1890—1894

Bk 116: 1900—1904

Bk 117: 1904—1907

Bk 118: 1901—1904, daily statements.

Bk 119: 1904—1906, daily statements.

Bk 120: 1908—1911, daily statements.

Bk 121: 1925—1936, average balances with corresponding banks.

Bk 122: 1930—1931, exchange register.

Bk 123: 1931, national reconcilement register.

Bk 124: 1888—1893, remittances.

Outstanding Cashiers Checks

Bk 125: 1911—1925

Bk 126: 1926—1935

Record of Escrows

Bk 127: 1885—1909

Bk 128: 1907—1923

Bk 128a: 1913—1924

Bk 129: 1917—1927, escrow deeds.

Stock Ledgers

Bk 130a: Stock Certificates, #s 1—250 (1889—1904).

Bk 130b: Stock Certificates, #s 251—500 (1904—1911).

Bk 130c: Stock Certificates, #s 501—725 (1911—1918).

Bk 130d: Stock Certificates, loose, boxed (1909—1923).

Bk 130e: Stock Certificates, #s 251—500 (1919—1923).

Bk 130f: Stock Certificates, #s 751—909 (1923—1940).

Bk 130g: Stock transfer ledger, 1889—1918.

Miscellaneous Books and Ledgers

Bk 131: H. E. Hatch memorandum book

Bk 132: Profit and loss accounts of TBBC, Federal State Bank (Preston), State Bank of Richmond, and the Hyrum State Bank, 1922—1928.

Bk 133: Application for loan registers, 1927—1928.

Bk 134: Expense accounts ledger, 1918—1929.

Bk 135: Expense accounts ledger, 1923—1928.

Bk 136: Cash book (lists properties bought from tax sales), 1923—1927.

Bk 137: Estate of C. C. Amussen, 1904—1910.

Bk 138: Day book of the Brigham Young College.

Bk 139: Trust ledger, 1924—1929.

Bk 139a: Profit and loss record, 1889—1916.

Bk 139b: Profit and loss record, 1916—1917.

Bk 139c: Profit and loss record, 1921—1928.

Bk 139d: Bonds and power of attorney register, 1899—1918.

Bk 139e: Register, contains list of safety deposit boxes, 1895—1912.

Bk 139f: Hong Kong & Shanghai Banking Company band drafts.

Bk 139g: International Banking Corporation draft book, 1907—1911.

Bk 139h: Scrapbook of published statements of call dates of Cache Valley banks, commencing December 1925.

Section II: Records of the Hyrum State Bank

Bk 140: General ledger, 1908—1932.

Bk 141: General ledger, 1912—1919.

Bk 142: Daily statements ledger, 1928—1929.

Bk 143: Daily statements ledger, 1931.

Bk 144: Individual ledger, 1911—1931.

Bk 145: Savings ledger, 1912—1931.

Bk 146: Dormant accounts ledger, 1919—1929.

Bk 147: Daily discount register, 1924—1928.

Bk 148: Profit and loss report, 1920—1928.

Bk 149: Register of orders and checks, 1926—1935.

Bk 150: Stock ledger, 1909—1933.

Bk 150a: Stock certificates, 1924—1936.

Bk 151: Tickler, Farmers Utah Loan Association, 1906.

Section III: Records of the West Cache State Bank

Bk 152: Stock ledger, 1917—1921.

Bk 153: Stock certificates.

For more information: 435/797-2663; Manuscript Librarian.
Special Collections & Archives, Merrill Library, Utah State University Libraries, Utah State University 84322-3000