Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1898-12-20
SALE on CHURCH BONDS
Action Taken with a View 10 Economy and
funding Pressing Indebtedness
GOOD INVESTMENTS FOR HOME PEOPLE
,,. nm, for a Period ~ Eleven Year,
and Hear Interest at The Kate
of STA FER cent.

7, consequence Of the financial oondl-
,l,n Of the Church 81 Jesus CHRIST OF
I.aetsr-day sliu.s. ocoaaIoned by 'he
,sdlous and expensive litigation over the
Church property. she difounics Whien
had 10 be- conicndcd with during ;he
pro,rac.ed prosecutions under ne laws
of Congress and the peculiar continue
lions of she courts In thcir enforcement
and gthrr circumstances of an adverse
nature. which for several ycara sur
rounded the church. % has becn com
pelled 10 borrow money from tim: TO
time. thus creating q d,bt which y A
desirable as aeon a. possible 90 hqui-
date.
Money at a reasonable rate of inter-
.,t has been offered 60 .he Church from
outside sources. but % was deemed hri-
DER that an opportunity should be given
90 our own people 60 advance means for
,hls purpoie. This matter has been 90
contemplation for some time and has
been carefully considered. with n view
TO the interest of the Church aud tie
benefit Of individuals.
The Presiding Authorities have
therefore determined 10 issue bonds,
running Tor period u eleven years
and b,nrlng lntorsn, at per cent per
annum-nftecn hundred 10 be Of the
denomination Of one hundred dollars
each, numbered consecu.ively from one
o. nf.ccn hundred; two hundred or ihq
denomination u hve hundred dollars
each. numbered consecu,iveiy from one
20 two hundred. and lwo hundred and
nifty Of the denomination ~ one thou.
sand dollars each. numbered cansecu-
lively from one 20 two hundred and
nf,y. ghe whole issue aggregiilng nvc
hundred thousand dollars. all hearing
date ~ December u. is9s.
The security for the payment OF these
bonds and shc interest thereon, will be
she pledge Of the Truricc.in-T Trust for
and In behalf of the Church u Jesus
Christ Of Latier-day Saints. made 90
each of the holders OF such bonds and
aiso to Lewis = HIS and David Ec-
cisa, who are constituted trustees 90
act for the said bondholdofp. that
enough money to pay the lnicrca, on
the bonds ON the first days OF July and
January In each year after the
nrnt day OF January. 1899, shall be do
posted at the Dcnerct National Bank.
and that at least ffty thousand dollars
from the Income Of che said
Church shall be- Deposited with 'shc said
trustees sach year after the ictr 1900.
O. provide for the purchase % a portion
Of ;he bones or to cfrwr "a fund fnr
thier redemption. Thus arrangement
viii be- effected by Ncl.ch thr eal.ir,
amoun to pay for the principal AMI In
tercst ON shc bonds vii eravc been de-
fosncd In sho term ~ eleven years
The bonds. however. viii be- aubjrc. {,
redemption Ia ave years frym she da''
thereof.
The Church hnH an income which vii
secure. undoubtedly. the payment Of al
- liabilities. Including the lfaerea, o.
uhesc bonds and the principal accord
ing 10 their face. ana ~ assets at IN,
preaeig time ure fully equal In value &
itu indebtedness. apar, from - assure,
incom,. The Church has always beer
solvent. and the necessity Tor borrowing
funds has been caused by the pressure
OF circumstances which werc forced up
on u.
The bonds, which win be offered OF
the nTst OF January. 1899. may b. pur
chased by any persons who desire u
iny,s, In them. They should b. takci
by rerdrnia 81 Utah. The Lat,er-dal
Sains who can purchase one or NOR
Of these bends will md them q rafc an'
profitable invcatmets. Their issuanc
VIII enable he -TruB, 10 ae,
de liabilities carrying heavy rate d
interest, and this viii make consider
able saving 10 the Church. The intrvc'
and principal viii be paid IN gold COLI
und she Church. through l,s rrussee-iu
Truai, WA DO fun security foF 'aelr r.
dcmpilon.
Application Tor yhe bonds should 4
made "
LORENZO SNOW.
frrtrsf -a.ln- II ftist.