Graham guardian., 1898-12-30
CHURCH BONDS,

" the Church OF Jesus Christ OF
Latter-day Saints, occassioned by
he tedious and expensive litiga-
lion over the Church property, the
The difficulties which had to be con-
tended with during the protracted
prosecutions under the laws of
Congress and the peculiar con-
structions of the courts IN their
enforcement, and other circum-
stances of an adverse nature, which
for several years surrounded the
Church, it has been compelled to
borrow money from time to tine'
thus creating debt which 1t is
desirable as soon as possible to
liquidate.
Money at reasonable rate OF
interest has been offered to the
Church from outside sources, but
IL was deemed better that an OPP
portunity should be given TO our
own people to advance means for
has purpose. This matter has
been in contemplation for some
time and las been carefully cen
isidered, with a view to the interaat
of the Church and the benefit oi
individuals.
The Presiding Authorities have
therefore determined to issue
bonds, running for period Of
eleven years and bearing interest
at 6 per cent per annum-htteer
hundred to be of the denomination
of one hundred dollars each, mum
bered consecutively from one tc
fifteen hundred: two hundred Of
! the denomination of five hundred
dollars each, numbered consecu
lively from one to two hundred
and two hundred and fifty Of the
denomination of one thousand
dollars each, numbered consecu
lively from one to two hundred
and fifty, the whole issue aggregat,
ing FIVE hundred thousand dollars
all bearing date of December 81
1898.
The security for the payment Of
these bonds and the interest there
on, will be the pledge of the
Trustee.in-Trust for and in behalf
Of the Church of Jesus Christ Of
Latter-day SAINTS, made to each Of
the holders of such bonds and also
to Lewis s. Hills and David Ech.
| les, who are constituted trustees
! to act for the said bcndholders
that enough money to pay the IN
terest on the bonds on the first
DAYS of July and January in each
year after the first day of January.
1899, shall be deposited at the
Deseret National Bank, and that
at least fifty thousand dollars from
the income of the said Church
shall be deposited with the said
trustees each year after the year
1909, to provide for the purchase
Of a portion of the bonds or to
create fund for their redemption.
Thus arrangements will be effected
by which the entire amount to pay
for the principal and interest on
the bonds will have been deposited
in the term of eleven years. The
bonds, however, will be subject to
redemption in five years from the
date thereof.
The Church has an income which
Will secure, undoubtedly, the pay
ment of all its liabilities, including
the interest on these bonds and
the principal according to their
face, and its assets at the present
time are fully equal in value to its
Indebtedness, apart fl ON its assur
ed income. The Church has al
ways been solvent, and the neces-
sity for borrowing funds has been
caused by the pressure of circum
stances which were forced upon it.
The bonds, which will bo offer.
ed on the first of January, 1899,
may be purchased by any persons
who desire to invest in them. They
should be taken by residents of
United. The Latter.day Saints
who can purchase one or more o,
these bonds will find them a safe
and profitable investments. Their
issuance will enable the the Trus
lee in-Trust to settle liabilities ear
ryjnp a heavy rate of interest. ana