Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1898-12-21
.SlLE OF CHURCH BONDS
GOOD INVESTMENTS FOR HOME PEOPLE.
mad. Hun for q Period Of Eleven Years
and hear Interest at the Rate
Of NJ, Fer Cent.

In consequence Of the financial condl-
,lon of the church Of Jesus Christ u
tacter-day Saints. occasioned by the
,edlous and expensive litigation over the
church property. She difficulties which
had to be con,ended with during the
pro,rac.od prosecutions under the laws
Of Congress and the peculiar consiruc-
,ions II the courts In shclr enforcement.
and other clrcums 1nces OF an adverse
nature. which Tor several years sur
rounded the church. Y has been CONE
pslled To borrow money from time to
zine. thus creating a debt which T. 10
desirable as coon IA possible 10 llqui-
date.
Money n, reasonable rate Of inter-
est has been offered co the Church frnm
outside sources but 70 was deemed bet
.ef that m opportunisy should he given
., our own people to advance means Tor
ths purpofe. This matter has been In
contemplation FOR some timc and has
been carefully considered. with vlcw
o. the interest Of the Church and the
lenoat of individuals.
The Presiding Authorities have
therefore determined to issue bonds.
running for period " eleven years
and bearing interest ut 6 per cent per
annum fifteen hundred 10 be Of thc
denomination of one hundred dollars
each. numbered consecusively from one
a. nfecn hundred. two hundred OF the
denominailo or nvc hundred dollars
Zach. numbered consccu.ivciy from one
60 Two hundred; and two hundred and
nfy Of the denomination uf one thou
ssud dollars each. numbered consccu.
.Iy,ly from one 90 two hundred and
nl,y. she whole issue aggrcga,lng iive
hundred thousand dollars. all bearing
di.c Of December "a. 1855.
The ftcuriiy FOR the payment OF these
bonds aud she ln:crcs; thereon. will be-
the pledge ~ the Truriee.in-Trusi for
and In behalf OF the Church Of Jesus
Christ ~ Lat,cr-day Saints. made 60
each Of the holders OF such bonds and
aia9 to LOWS =. ms ana David &c.
ei,a. who are constituted trustees 90
act Tor the rald bondholdcfu. that
enough money 10 pay the interest on
the bonds on the first days of July AMI
January 10 each year after The
first day " January. 1899. shall be de-
posted at the Dcaerct National Bank.
and ihai at least iifty thousand dollars
from the income OF She said
church shall be- deposited with she said
trustees ,ach year after the yrur 1900
60 provide fir ihs purchase " portion
" she bones or 10 crrge fund Tor
thIcr redemption. Thus arrangements
VIII b. cnocgcd by werlich the entire
am0urc 20 pay Tor the principal snd In.
trcsi on thc bunds wiz have been de-
pusHci In she term ~ eleven years
The bonds. however. viii be subject 10
redemption In i've years from she date
thereof.
The Church has an income which will
secure. undoubtedly, &hc Taymen, ~ Oh
a. liabilities. including the inicrrs, on
ghcsc bonds and the principal accord
Ing To their face. alid lts assets no thc
prrscu, hme are fully equal In value -
~ indebtedness, apar, from ~ assured
iHoomr. The Church has always been
solvent. ana the necessity Tor borrowing
funds has been caused by the pressure
~ circumstances which were forced up.
on Il.
The honda. which win b. offered on
she nrsi ~ January. 1899, may be pur-
chased by any persons who desire TO
invts. la them. Thry should be- taken
by residents ~ Utah, The Lau,er-day
sums who can purchase one or more
VI these bonds viii mud them a safe and
prlniable invcsimruf. Their issuance
viii enable the Trus,ec-in Trust 20 set
tr Liabilities carrying heavy rate "
interest. ana this will make q consider
able navins To the Church. The Interest
and principal viii DO paid In gold coin.
and shc Church, through It's Trusiee.ln-
Trust, vii be- full security Tor thelr rc-
demp,ion.
Application for she bonds should b,
made 80
LORENZO SNOW.
Trustee-lu.Trusf.