The second ledger in the collection that covers the finances of the company from 1921-1927 has names of individuals who received wages. Comparing those names to the Salt Lake City directory showed that one individual was employed at "Scraces," another was a baker, and another was a waiter. Thus, the common denominator seems to indicate Scrace's Bakery and Cafe is the creator of the ledgers.

Scrace's Bakery was founded by Edward Scrace, a baker who is listed in the Salt Lake City directory in 1885. However, it is clear the bakery existed in 1883, when it was engulfed in a massive fire in the block south of Temple Square. The fire quickly spread through the block just after midnight on 21 June. It began at Clawson's Wagon Depot and quickly spread to Savage's Art Gallery. At 12:30 a.m. an explosion knocked two firefighters off the roof of Scrace's bakery. The fire reached probably as much as 25 barrels of powder stored at the Wagon Depot on the block. As The reported, the explosion "shook the buildings like a strong stroke from a battering ram for two blocks around, but the devastation it wrought in the near vicinity was complete." The only window panes left were two panes of glass at ZCMI. No one was seriously injured, but the fire changed the city's firefighting system from a volunteer service to paid, professional firefighters.

By 1885, Edward Scrace had rebuilt his bakery that also went by the name Excelsior Bakery. Scrace kept his bakery at the 10 S. Main Street location until 1900, when he moved down the street to 24 S. Main Street. The bakery stayed under Scrace until he sold it around 1903 to Ephraim L. Saunders and Charles J. Rosell, a clerk and a baker for Scrace, respectively. By 1910, Scrace's Baking Company advertised itself as "Fine Confectionary and Bakery Goods, Wedding Cakes a Specialty."

Presumably, Edward Scrace developed his career outside of Utah after he sold the bakery to Saunders and Rosell. In 1905, the Salt Lake City directory lists an Edward Scrace as vice president of McDonald Chocolate Company in Los Angeles.

In 1913, Saunders and Rosell incorporated the bakery as "Scrace's Bakery and Cafe" to manufacture, buy, sell and deal in pastry, bread, cakes, pies, biscuits, crackers, and confectionery, and all other food products, and to furnish and serve meals and refreshments of every kind and nature, and to buy and sell baking and food products at both wholesale and retail, and to carry on any other business designed in any way to promote the objects and purposes above named.

The inactive corporation cards indicate that "Scrace Bakery and Cafe" was involuntarily dissolved in 1974. The company had been inactive since 1928, when it stopped paying taxes but failed to formally dissolve itself. Edward Scrace had been vice president of McDonald Chocolate Company in Los Angeles until his death on 16 March 1928, after which Scrace's Bakery no longer appears in the Salt Lake City directory. Ephraim L. Saunders went on to form Saunders-Mecham Investment Company, working in that venture presumably until his death in 1951.