Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1898-12-27
SALE OF CHURCH BONDS
GOOD INVESTMENTS roS HOME PEOPLE.
Bond. Run for Period Of Eleven Years
and Bear Inicrest at the Rate
Of Six Per Cent.

In Consequence Of the financial condl-
lion OF the church % Jesus Christ OF
Laeler-day Saints. occaslonei by the
tedious and expensive litigation over the
Church properly. she difficulties when
had to be commended with during ihe
proirac,ed prosecutions under 'h' laws
Of Congress and the peculiar cona'rne-
;ions Of she courts in thsir enforcement
and other circumg,anccs az mn adverse
nature. which Tor several years sur
rounded the Church. d has been cone
PEELED 70 borrow money from tins DO
;lme. thus creating a debt which q %
desirable az soon as possible TO lqui-
date.
Money az reasonable rate Of in.er-
est has been offered % .ho Church fgom
outside sources. bu; J.. was deemed bti-
ar that an opportunity should be given
20 our own people 90 advance means Tor
this purpose. This matter has bean IN
contemplation for some timo and has
been carefully considered. with a Wow
10 the interest Of the Church and the
bcncnt 81 individuals.
The Presiding Authorities have
therefore determined 10 issue bonds.
running for a period Of eleven years
and bearing intcrcs; at por cent per
annum-nfieon hundred 90 be Of rae
denomination OF one hundred dollara
each, numbered conEccuavely from one
o. fif.oen hundred. two hundred " the
denomination Of I'VE hundred dollars
each. numbered ounsccu.lvcly from one
90 Two hundred; and two hundred and
nifty OF the denomination ~ one thou.
sand dollars each. numbered consccu.
lively from one TO two hundred and
iif,y. she whole issue aggreFailng 1--WE
hundred thousand dollars. all bearing
da.e Of December 81. 1sgS
The security for ,he payment OF these
bonds ana the lnsores; thereon. will bo
the pledge of the Trustee-in-Trust Tor
and In behalf u the Church OF Jesus
Christ OF Lai,er-day Saints. m..'s 90
each OF the holders Of such bonds and
afro to Lewis X. Hills and David Ec-
cles. who are constituted trustees 80
act for the said bondholdcrH. that
enough money 10 pay the Interest on
the bonds on the first days OF July and
January In ouch year after the
flrat day OF January. 1899. shall be de.
poalted at the Dessert National Bank.
and that at least nifty thor4and dollars
from the income OF che said
church shall be dcposltcd with che said
ffstssa..s oh 49, a.. "a. .a...r taun
60 provide FOR the purchase % a portion
Of the bonds OF 10 ortugc u fund for
thier redemption. Thus arrangements
viii be effected by witch the entire
amouns TO pay for the principal and In.
tsrcsi ON fhc bonds viii have been de-
poanei Ia the term ~ eleven years.
The bonds. however. VIII be subject to
redemption In ave years fnon she date
thereof.
The Church has an income which will
rceuEe. undoubtedly. she payment Of AL
~ liabilities. including the ln,ercs, on
thesc bonds and the principal accord
ing TO their face. and IL assets at ne
prcsclt time are fully equal In value 10
tn indebtedness. apar from i,S assured
Income. The church has always been
solvent, ana the neccTsity FOR borrowing
funds has been caused by she pressure
OF circumstances which were forced up
on Il.
Tho bonds, which viii be- offered on
the trsi % January. 1893. may be- pur-
chased by any persons WIN desire 10
invsst IN them. They should be taken
by residents % Utah. The i.hu.er-dny
Saig,u who can purchase one or more
u these bonds viii nnd them a safe and
profitable iuvcatmerg. Their issuance
viii enable che Trustce-in-T rul, 90 set.
ile liabilities carrying a heavy ratb o.
interest. ana this will make consider
able saving 10 the Church. The Interest
una principal Will be paid IN gold coin.
and che Church through IT. Truatee.in.
Trust, VIII be fun security for thclr re.
dcmpi'pn.
Application FOR she bonds should be
made 20
LORENZO SNOW,
Truntee-in-TruH.