Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1898-12-31
SALE OF Church BONDS
Atlion Taken with a View to Economy and
Funding Pressing Indcblodnc;s'
GOOD INvEs1atsTs FOR HONE PEOPLE.


In consequence ~ ihe financial oondl-
tlon Of the church of Jesus Christ Of
Lnetor-day sairss. occ4sioncd b. iiro
tedious and exp ,nsiyc litigation over me
church property She dinlcuites which
had to be c6nicndei with DURING 'hr
proirnc.cd prosecutions under the laws
OF Conrrcas and the peculiar c1mulo-
slons Of the courts In shsir cnforcam'nt
ard other circumstances ~ on adverse
nature. which ior several years sur
rounded the Church. O. has been cone
PEELED 60 borrow money from time 20
slime. thus creating a deb. which it u
dssir.blo as soon as possibic 20 hqui-
date.
Money NJ n reasonable rate Of inier-
sst has been offered 60 The Church from
outside sources. but &. was deemed be-
ter that an opportunity should be- given
TO our own people 60 advance means Tor
this purpose. This matter has been in
contemplation Cor some time ana has
been carefully considered. with "a view
to the interest of the Church aud the
bonont Of individuals.
The Presiding Authorities have
therefore determined 90 issue bonds.
running for period Of eleven years
and bearing intcros, ut per cent per
annum-nf,ecn hundred 60 b. " sac
denomination Of one hundred dollars
each. numssrcd conseoudvcly from one
90 nnccn hundred: two hundred u ;ha
denomination Of i've hundred dollars
each. numbered consccu,lvcly from one
~ two hundred: and Two hundred and
nifty Of the denomination NJ one thou
sand dollars each. numbered conuccu-
lively from one 90 two hundred and
nifty. she whole issue aEgfoglilng i've
hundred thouaand dollars. all bearing
dre Of December 81. is9s.
The security FOR the payment Of these
bonds ana she inlorcr thereon. will be
che pledge ~ the Truaieo.ln-Trusi Tor
aud In behalf OF the Church ~ Jesus
Christ OF Latier-day Saints. iuade 90
each Of the holders Of such bonds and
iaipc 10 Lewis :. iiliis and David Ec-
cics. who arr constituted truucca 90
act for the said bondholdora. that
enough money TO pay the interest on
the bonds on the first days of July and
January In each year after the
irHt day OF January. 1899. shall be de-
posted al the Dcncrct National Bank.
and shat at least nifty thousand dollars
from the Income OF shc said
CHURCH shall BE- deposited with che said
trustees each year after the ysaf 1900.
to provide for the purchase Of a portion
OK .he bonds W to cEuar fund tor
thlcF redemption. Thus arrangements
val be cntccd by which tho CuIru
nmous to pay Tor the principal and IN
ttfvtt on thc bonds viii have been de.
posued In tho term Of eleven years.
The bonds. however. via BE- eubJeci 10
REDEMPTION IN ave years from thp datg
thereof
The Church has an income which will
secure, undoubtedly. thr payment ~ all
- liabilities. Including the Interest on
thew bonds and the principal accord
ing TO their face. and - assets a. uhe
present time are fully equal IN value 20
u .ndeb,cdncss. apart from ta assured
iutome. The Church has always been
solvesi. and THE neccfslty for borrowing
FUNDS has been caused by.ihe pressure
u circumstances which were forced up
on II.
The bonds. which VIII be offered ON
The iirst % January. 1899. may be- puf.
chased by any persons WIN desire 10
invesi IN thom. Tiny should be taken
by residents ~ Utah. Tho tnt.vr-day
Sliirs who can purchase one or more
2f these bonds viii md them a safe and
proniuhlo invcntmeui, Their issuance
viii enable fhu Trustec-in -Trus, % set.
ne liabilities carrying q hravy rate ~
Interest ana this viii make q consider.
able saving 20 she Church The in, .TeHt
ana principal viii De- paid in sold coin.
aud che Church. through o. Truaiee-in.
Trust. WI be- full security for their re-
dciupiiun.
Application FOR she bonds should BE-
made 20
LORENZO SNOW,