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This is Fred Ball for Zions Bank, speaking on business.
I always love to hear stories about people triumphing over tough obstacles to become successful business owners. Today's feature showcases how a Russian immigrant founded one of the most successful jewelry chains in the Western United States.
In 1899, Nate Morgan, Sr., immigrated to the United States from Russia. He moved to Salt Lake City to work for a friend who owned a pawn shop. He eventually became the general manager of the store and he saved enough money to partner with another friend and purchase their own store in Pocatello, Idaho. They liquidated the new store's merchandise and then opened a used clothing and jewelry store in 1914.
Only a few years later, Nate and his friend parted ways; his friend took the clothing side while Nate purchased the jewelry portion of the business and started Morgan Jewelers. At that time, Pocatello was a major hub for the Union Pacific Railroad. Nate became the calibration specialist for the railroad workers who all needed to have their watches certified regularly so it kept exact time. From this, Nate became one of the first jewelers west of the Mississippi to offer jewelry on a credit account.
Morgan Jewelers successfully weathered the Depression and shortly after World War II, Nate's sons took over the business. Today, Morgan Jewelers is in its third generation of family ownership and boasts 17 stores spread throughout Utah, Idaho, Montana, Washington, Oregon and Nevada. Nate Morgan, Jr., the senior Nate's grandson, is now successfully operating the company, which is headquartered in Salt Lake City.
Nate says Morgan Jewelers specializes in wedding rings, particularly ladies' engagement sets. He strives to provide a wide selection of wedding sets and a high degree of customer service, so clients are satisfied with every transaction. He is proud that Morgan Jewelers has become the jeweler of choice for couples throughout the Intermountain West, which will be the legacy to carry the company into its fourth generation of family ownership.
For Zions Bank, I'm Fred Ball. I'm speaking on business.
Morgan Jewelers 545 E. 300 S. Salt Lake City, UT 801-924-1912 www.morganjewelers.com
