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Marriner S. Eccles, who since last January has served
as an Assistant to the Secretary of the Treasury in the Capacity
of liaison representative with other agencies of the Government
having to do with banking and finance, has had extensive banking
and business experience.
A group of the leading financial institutions of Utah
and Idaho, with resources in excess of £50,000,000, in whose
organization and development Mr. Eccles had taken a leading part,
and of which he was the head, came through the banking crisis in
such splendid condition as to reflect great credit upon his
ability as a bank executive. This is in spite of the fact that
banking mortality in this area was very heavy. These institutions
include the First Security Bank of Idaho, with sixteen branches,
the First Security Bank of Utah National Association, with seven
branches, the First National Bank of Salt Lake City, the First

Security Trust Company of Salt Lake City, and the First Security (Continuedy
next
http://fraser.stlouisfed.org/
Bank of Wyoming at Rock Springs.
PaSe)
Federal Reserve Bank of St. Louis

Since entering the Treasury, Mr. Eccles has resigned a l l
banking connections*
In the field of industrial enterprise Mr, Eccles has been
equally active and successful. He is the president of the Utah
Construction Company, viiich is one of the largest and oldest
companies in the country engaged in building dams, railroads and
highways and owning and operating a 300,000 acre ranc$i with 40,000
sheep and 25,000 c a t t l e ; director of the Pet Milk Company, with
a nation-wide distribution system, and president of the Sego Milk
Products Company, a two million dollar company, with plants in
Utah, Idaho and California, and with an annual business of four to
five million dollars; vice president and treasurer of the
Amalgamated Sugar Company, one of the large beet sugar companies
of the United States, wi3bh assets of 10 millions, annual business
of 8 to 10 millions and an annual production of two million bags;
president of the Stoddard Lumber Company, of Eastern Oregon, which
normally produces 30,000,000 feet of lumber per year; anl a director
of and financially interested in a number of other concerns, including the Anderson Lumber Company, owning and operating fourteen
lumber yards in Utah and Idaho, the Mountain States Implement
Company, wi th a wholesale house and ten r e t a i l stores. All of these
concerns have successfully weathered the years of depression.
Mr. Eccles, in his public office, has represented the
Treasury in i t s relationships with the Home Oiners Loan Corporation,
the Farm Oretiit Administration, and the Agricultural Adjustment
Administration. He was a member of the Presidents Committee,
representing the Treasury in the development of the Housing Act
passed at" tte& last session of the Congress. He has also been a
member of the Executive Committee on Commercial Policy, along with
representatives of the Department of State, the Department of
Agriculture, the Department of Commerce, the Tariff Commission,
the National Recovery Administration, the AgriBhiltural Adjustment
Administration, and the Special Adviser to the President on Foreign
Trade.
Since the resignation last Spring of Tom K. Smith as
Assistant t o the Secretary of the Treasury, added duties have been
assigned to Mr. Eccles of being Treasury coordinator with the
Reconstruction Finance Corporation, the FederacL Deposit Insurance
Corporation and the Federal Reserve System in the many banking
relationships which have required special attention during recent
months.
Mr. Eccles, prior to coming to the Treasury last January, had never held public office.




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