Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1898-12-24
SALE OF CHURCH BONDS
Action Taken with a View 10 Economy and
Funding Pressing Indebtedness.
GOOD INVESTMENTS FOR HOME PEOPLE.
Bonds Run for n Period Of Eicycn Year,
and bear Interest ut the Rate
of SIX FER Cent.

In consequence Of the financial condi-
ton OF the Church Of Jesus Christ or
Lacter.day Saints. occasioned by the
tedious and expensive litigation over the
Church property. she difficulties which
had to be contended with during the
protrac,ed prosecutions under the laws
OF Congress and the peculiar cons;ruc-
lions OF the courts In thcir enforcement.
and other circumstances OF an adverse
nature. which FOR several years sur
rounded the church. II has been COM
PEELED to borrow money from TING to
time, thus creating a debt which L Is
desirable as soon as possible TO llqui-
date.
Money a, n reasonable rate OF inter-
est has been offered 90 the Church from
outside sources. but 1. was deemed beT-
ter that an opportunity should be given
90 our own people to advance means for
this purpose. This matter has been In
contemplation for some time and has
been carefully considered. with a view
10 the Interest u the Church and the
benefit Of individuals.
Tho Presiding Authorities have
therefore determined 20 issue bonds.
running for a period Of eleven years
and bearing Interest at G per cent per
annum-iiftccn hundred 10 be OF ,he
denomination Of one hundred dollars
each. numbered consc,u,ivSiy from one
60 iificcn hundred: two hundred Of the
denomination OF i've hundred dollars
each. numbered consecu,lvcly from one
10 two hundred; and two hundred and
any OF the denomination uf one thou
sand dollars each. numbered consccu-
iivoly from one TO two hundred and
ATTY. she whole Issue aEErega.lng ave
hundred thousand dollars. all bearing
da,e % December ~. 1895.
The security Tor the payment OF these
bonds aud The interest thereon. viii be
ihs pledge nf the Trustee IN -Trus, FOR
and In behalf % the Church Of Jesus
Chris; u Lai,cr-day Saints. made 90
each % The holders of such bonds and
also TO Lewis 5. ms and David Ee-
clos, who ARE constituted trustees 90
act FOR the said bondholdora. that
enough money TO pay the interest on
the bonds ON the frSt days OF July un1
| January In zach year after the
nrut day u January. 1899, shall be de-
| posted az the Dcaerct National Bank.
and chat at least nifty thousand dollars
| from the Income OF she said
church shall BE- deposl,ed with sac SAID
trustees each year after the y,ar 1900.
60 provide Tor The purchase u a portion
/ 90 she bones or TO cgi9ie fund for
thier redemption. Thus arrangements
viii be cnectsd BY whlch the cD;ire
amouns 10 pay for the principal and IN.
tercsi ON the bpada will eTaye been de-
posHed In she term Of eleven years.
The bonds. however. win be subject 10
redemption In ave years from sha date
thereof.
The Church has an Income which will
secure. undoubtedly. She paymen, Of all
vs. liabilities. including the lD,ere8, on
these bonds and the principal accord
ms to their face. aud rs assets a, The
present tme are fully equal 10 value 10
Ito Indebtedness. apart from its assured
income. The Church has always been
solvent, and the necessity Tor bOrrowinE
funds has been caused BY the pressure
Of circumstances which were forced up
! on IL.
Tho bonds, which will be- offered on
the first OF January, 1880 may be pur-
| chased By any persons who desire "a
Invest In chem. rhey should be taken
by residents 10 Utah. The Lat,or-day
/ Siiusa who can purchase one or more
ui thrse bonds viii md them cafe and
/ profitable inNeatmtu,. Their iasulnci
! win enable the Trustee-in Trust 60 set
q, liabilities carrying a heavy rate o.
interest. and this will make n consider
able saving 20 the Church. The intaTca
and principal viii bc paid IN gold coin
iani che Church. through Its Trustee-in
Trust, Will be full security for their nc
demp,lon.
Application for ihe bonds should b
made 10
LORENZO SNOW.
Trustce-in-rrnst.