Word: mormons
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...when a starched and proper young Irishman named John Francis Fitzpatrick arrived in Salt Lake City, capital of predominantly Mormon Utah, he found a mud-flinging contest going on between Salt Lake City's morning paper, the Gentile* Tribune, and the Saints' own evening Deseret News...
Born to poor Irish immigrants at a Mormon wagon stop in Nebraska, Allie Sullivan was a pert 17, working as a waitress, when tall, red-mustached Virgil Earp shambled into a Council Bluffs cafe for grub one day in 1864. "Virge was the only man I ever loved or got married to," recalls Allie. "For any woman one good man's plenty and one poor one's too many...
After the Mormons founded Salt Lake City, Mormon Leader Brigham Young looked out from his temple and concluded the church would do well to get into the money-changing business. Up and down the valley the "Gentiles" (non-Mormons) were taking the lead in opening rich mines, establishing basic industries, and providing banking services to Brigham's band. Moreover. Mormon businessmen needed capital in quantities that only the church would provide. Accordingly, in 1873 Young founded a Mormon bank, and the Latter Day Saints became the only U.S. religious institution to get into ranking...
...bank prospered with the Mormons. Over the years the Mormon Church acquired more business interests: real estate, hotels, a newspaper, a Salt Lake radio-TV station, farms and a sugar company-and two more banks, all three merged in 1957 into Zion's First National Bank. Its resources: $140 million. Today the church is estimated to be one of Utah's half a dozen largest industries. As a religious institution, it might have sought tax exemptions, but all along, the Mormons have scrupulously paid the same federal taxes as other private businesses. Nevertheless, there was plenty of criticism...
Last week the Mormon Church got out of the banking business. In a surprise move, it sold its controlling interest of 146,540 shares in Zion's First National Bank to a group of private businessmen headed by Norge Chairman Judson S. Sayre, Kennecott Director Leland B. Flint, and Utah Loan Company Executive Roy W. Simmons. Sale price: $9,818,314. The explanation from the Mormon leaders: the time has passed when Brigham Young's Latter-Day Saints need place their trust only in church-backed business institutions...