Symbols of Growth and Development : The First National Bank of Ogden and It's Affiliates
Allison, William Thomas,Matt, Susan J.
Dreams, Myths, and Reality : Utah and the American West
Salt Lake City
"In 1881 the directors of Deseret National increased their capital stock, enlarged the board of directors, and took steps to establish a separate unit to serve Mormon interest in Ogden. When the railroad came, Ogden boomed with stores, hotels, construction companies, lumber yards, ornate homes, and other symbols of nineteenth-century railroad prosperity. John W. Gutherie, a non-Mormon freighter, establisheda small private bank in nearby Corinne in 1875. When it became apparent that Ogden, not Corinne, was to be the junction city of the transcontinental railroads, Gutherie quickly moved his bank to Ogden. J. E. Dooly, a non-Mormon agent for Wells Fargo, established a small bank there in 1875. Gutherie later sold his bank, then returned in 1880 to buy part interest in the Dooly bank. Three years later the two men organized the Utah National Bank. Not content to leave Ogden to 'outside' financial interest, eighteen Momon leaders under the leadership of Horace Eldredge and representing almost the entire board of Deseret National responded by organizing the First National Bank of Ogden. " [p. 155]