Friday, May 1, 1896
Brought my daughter Ann to the hotel as the most suitable place for the operation on her nose. She has what the doctors call Adnoid. Drs. Pettibone and Klopp operated; the former administered the ether and the latter performed the operation. The doctors thought the operation successful. My son William and Willard Croxall were also present and assisted. All appear sanguine that this operation will remove the cause of Ann’s deafness.
Saturday, May 2, 1896
Myself and wife and William and wife and Mamie went to the wharf and saw a number of our missionaries sail for Liverpool.
Our daughter is quite lively to-day, and we think we can proceed on our journey to-morrow. I dislike to travel on Sunday, but I am anxious to reach home before our usual Thursday meeting, and unless we start in the morning I cannot reach there for that.
Sunday, May 3, 1896
Started at 8:15 this morning. Frank called at the train as we passed through Washington, and I had a few minutes conversation with him.
Monday, May 4, 1896
Reached Chicago and put up at the Auditorium Hotel until 5 p.m., when we went to the train which left Chicago for the west at 6 p.m.
Tuesday, May 5, 1896
Reached Omaha on time, and left there at 8:20 a.m.
I have been suffering for a week from a cold and have been quite sick. This morning I feel very badly.1
Wednesday, May 6, 1896
We reached the city at 3:10 in the afternoon, and I repaired to the office. I found President Woodruff not feeling well. For two nights he has had scarcely any sleep. He complains of the difficulty he has in breathing and the pain there is through his lungs and his heart. He seemed somewhat depressed, but expressed great pleasure at seeing me back. President Smith was in good health. We remained together sometime, talking over different things.
When I returned home I found my family all well, with the exception of my daughter Hester, who is suffering from an attack of peritonitis. It is thought that this has been caused by her attempting physical culture a little too rashly and going without her food. She is improving, however, at the present time.
Thursday, May 7, 1896
We held our usual Council meeting this morning in the Temple. Beside the First Presidency, there were present, President Lorenzo Snow, F. D. Richards, F. M. Lyman, J.H. Smith, H. J. Grant, J. W. Taylor and A. H. Cannon. We had a very interesting session. Having been absent, I asked concerning the result of the inquiry which was to have been made respecting Brother M. W. Merrill’s health and his ability to take a mission to preside over the European Mission, and was told by President Woodruff that he had conversed with Brother Merrill and he felt it would not be wise for him to go. Some of the other brethren appeared to think that it would do him good and reduce his flesh to get out and move around more. President Smith expressed himself strongly to this effect. I mentioned the name of Brother Rulon S. Wells, he being suggested to me by the Spirit, as a suitable person, and after some little discussion it was decided that Brother Wells should go to England to preside over the European Mission.
There is one thing that I am impressed with in conversing in our Councils in relation to suitable men to fill various positions, and that is the dearth of information there is in our midst. We do not seem to know who there are that are suitable, a knowledge of the young men being apparently quite limited. I notice this because it has always been a strong point with me to know people, having an excellent memory for names and individuals; but my situation has been such for some time past that I have not had the opportunity of becoming acquainted with the young men who have been on missions. There must be hundreds of talented young men in our midst, if they could only be brought out; and I suggested that we should take some pains in selecting young men of promise and putting them forward. We need them in the missionary field as well as in other places. I said I thought the Twelve had so many duties resting upon them at the present time that they could be most usefully employed (if proper men were selected to preside over the various missions) in visiting and spending a few weeks in various missions. Facilities for traveling quickly were now of such a nature that an Apostle could go to Europe and be back again within a few weeks and still make a good visit; and so he might visit the Southern, Eastern and Northern States, California, &c. The idea seemed to please the brethren, and while taking no action upon it they evidently approved of it. I have a plan in contemplation that I think will probably make us better acquainted with our Elders than we are at the present time. There should be a record kept I think in the office of the First Presidency of all the Elders who return from missions, and every President of a mission should be required to send to the Presidency of the Church a statement as to the length of service, the efficiency and the peculiar qualifications of each Elder. Of course, this need not be known to the Elder himself, but for the information of the First Presidency and Twelve. Proper forms might be drawn out and printed, which the presidency of a mission could have filled in and have sent here regularly, and they could be copied into a book. Then we would know who were most efficient, and the qualifications that each possessed, so that if we wanted men for any particular duty we would have something to refer to. In one column it might be stated whether they were gifted as speakers, or as writers, or possessed of organizing qualifications, &c., &c.,
A question arose as to the form of baptism at present used in the temples in baptizing for the dead. President Snow stated that the words “for the remission of sins” were used in the ceremony, and this led to a general discussion, and it was decided that a letter should be addressed to the Presidents of the Temples upon the subject.
We held a meeting of the Sterling Mining Co., and a most frightful (to me) statement was read of the condition of that property and the obligations resting upon it. The only relief I got in my feelings was the report of Mr. Weir, an expert mining engineer, who gave us every assurance that the properties were valuable if rightly worked. The question arose as to who should see the creditors of the Company. We all felt that my son Abraham would be the most suitable one, but he cannot be spared, and Brother Clayton said he would be willing to go, and it was decided he should go as soon after the arrival of the railroad people as possible.
Friday, May 8, 1896
I dictated to Brother Arthur Winter a letter upon the subject of baptism, in accordance with the action of the Council yesterday. The following is a copy of it:
“To the Presidents of the Temples of the Church of Jesus Christ of Latter-day Saints,
In baptizing for the dead in the Temples we understand that the form of words used is as follows:
“Having been commissioned of Jesus Christ, I baptize you________for and in behalf of________, for the remission of your sins, and in the name of the Father, and of the Son, and of the Holy Ghost, Amen.”
We might go into explanations as to the reasons which have caused this form of baptism to be adopted; but it is not necessary, further than to say that baptisms for health and baptisms for the renewal of covenants, etc., have led doubtless to the adoption of this form of ceremony to distinguish it from others.
We have had this matter under consideration from time to time, and supposed that our views had been made known to the Presidents of the Temples; but we understand that they have not been informed upon this point, and that the form above given is still the one used in administering baptism for the dead.
The form that we think proper, and that we desire to have used hereafter in administering the ordinance of baptism for the dead, is as follows:
‘Having been commissioned of Jesus Christ I baptize you________for and in behalf of________, in the name of the Father, and of the Son, and of the Holy Ghost, Amen.’
We understand that in some instances baptisms have been administered in the Temples with something like the following ceremony:
‘Having been commissioned of Jesus Christ, I baptize you for the remission of sins, for the renewal of your covenant, and for the restoration of your health, in the name of the Father, and of the Son, and of the Holy Ghost, Amen.’
We do not know upon what authority this form of administering baptism has been adopted; but we think it improper. There have been times in the Church when the First Presidency have felt it necessary to call upon all the members of the Church to renew their covenants, and at such times it was suggested that the words “for the renewal of your covenant” be used in the ceremony; but it does not follow that at other times, and in individual cases, that form should be used.
We think it improper, speaking generally, for the words “for the remission of sins” or “for the renewal of your covenant” to be used in administering the ordinance of baptism.
Where it may be necessary to baptize a person who is already a member of the Church, the form of ceremony which the Lord revealed to the Nephites, and which has been revealed also to us in our day, is sufficient. It is sufficient for a sinner who joins the Church -- for through that ordinance and the words of the ceremony which the Lord has given his sins are remitted -- and it certainly is for a man who is already a member of the Church, if it should be deemed necessary to administer the ordinance of baptism to him.
The practice which has prevailed in some instances where members of the Church are baptized, of using the words “re-baptize” and “re-confirm”, we think unnecessary. When we strictly follow the form the Lord has given us we are sure to be right.
In cases where people are baptized for their health, we see no impropriety in using the words “for the restoration of your health” in the ceremony. There is a difference between baptism for such a purpose and baptism for admission into the Church. One is an ordinance of salvation – the door provided by the Lord through which His children must enter into His Church and become entitled to the blessings of the new and everlasting covenant; the other, while it may be termed in some respects an ordinance, is not imperative upon the members of the Church. If they have faith and believe, when they have some ailment, that the administration of baptism in that form will be beneficial to them, the privilege is granted to them. But there is a clear distinction between that form of baptism and the form of baptism which the Lord requires His children to obey to become members of His Church.
Trusting that this communication will receive the attention which it deserves, and with love,
Geo. Q. Cannon,
Jos. F. Smith
We had another meeting to-day to talk over the Sterling Co’s affairs.
We had some conversation with Brother Le Grand Young and Brother L. W. Shurtliff concerning Pioneer Electric Power Co’s affairs. I have received a letter upon the subject of the Co’s affairs from Brother Asahel H. Woodruff, in which he sets forth a number of causes of dissatisfaction on his part with the way the Co’s affairs are managed. His complaint is chiefly directed against the Secretary, Mr. Bannister; but he finds fault with the disposition there is to employ people at what he thinks high wages, and perhaps people who are unnecessary. I read his letter, without mentioning the writer’s name, to Brother Shurtliff, who is in the employ of the Company, as I wanted to obtain from him all the information I could upon the questions involved in the letter, so that I might, whenever the discussion came up, have some understanding of the true position of affairs. He assures me that some of the statements made are not correct. I want to see Captain Willard Young, who is also employed on the work, and find out more particulars from him. There is a disposition manifested by several members of the Company to find fault with the way affairs are managed. It is a feeling of distrust and suspicion, which to me is very painful, and unless it is checked I fear it will lead to serious consequences, because where such feelings exist there cannot be harmony. There are two or three of the brethren who take gloomy views of affairs, who are disposed to find fault and to be distrustful and apparently suspicious of the honesty and right dealing of some of the men who are connected with the Company. While I think we should be careful, economical and watchful, I do not think that we should be suspecting everybody of dishonesty. I would feel miserable if I entertained suspicions about everybody around me. Men differ in their views concerning almost every question, to a great or less extent; but it does not follow that their motives are improper or that they have dishonest ends in view.
Saturday, May 9, 1896
I had a great deal of business on hand this morning, but it being the day appointed for a conference of the Stake Sunday schools, I felt it to be my duty to attend. The weather was exceedingly stormy, and my health was not very good, but I repaired to the Assembly Hall and found only a small congregation. The meeting proved, however, to be very interesting, the exercises of the children being very satisfactory. There was a good choir of boys and girls, led by Brother Bassett. Several of the brethren spoke a few minutes, I among the number.
I was kept busy at the office until about 3 o’clock, when I felt so badly that I went home.
Sunday, May 10, 1896
Still stormy. The car was not running, and I had my sons get my carriage and take me to meeting in that. The centre of the Tabernacle was well filled with children, notwithstanding the inclemency of the weather, and the exercises were of a most interesting character, particularly the exercises of the deaf mute children.
In the afternoon the conference continued; but the children were not required to come in any organized capacity, and the congregation was very thin – probably as thin as I ever saw in the Tabernacle on a Sunday. This was due to the very stormy and unpleasant weather. Brother James H. Anderson occupied some of the time, and other exercises were given, and I closed by making some remarks.
Altogether this conference has been a very interesting one, and one which I am sure people would have enjoyed had they been able to attend.
Between meetings I went to the house of Brother Brigham Young and found him in a very bad condition, suffering from an attack of quinsy. He returned from a visit to the south yesterday morning. I spent about an hour and a half with him, and administered to him.
Monday, May 11, 1896
The car did not run this morning, and I was under the necessity of telephoning to town for a vehicle to take me up. I reached the office at 11 o’clock, and found quite a number of the brethren in the office conversing with President Woodruff concerning reports which had been published in the papers upon the subject of the High Council meeting held at Logan which was attended by President Smith and Elders John Henry Smith and Heber J. Grant at the recent Logan Conference. My son John Q. was in the office for the purpose of getting some suggestions as to the proper manner of treating this question. Brother B. H. Roberts was also present. It was suggested that the less that could be said by our paper the better. I expressed myself to the effect that I thought it would be a good thing if these people who were feeling stirred up about what had occurred – that is, if leading men of both parties and us could get together and talk over the situation, and we explain to them our position, it might lead to good effects.
I had a call from Mr. S. K. Hooper, of the Denver & Rio Grande R.R., accompanied by Mr. Cushing, of the same road.
Brother F. A. Hammond called to see me to obtain counsel about his mother-in-law, Sister Dillworth, who had been sealed to her son-in-law, Brother Levi Riter, and had received her [2 words redacted relating to a temple ordinance] to him. Some of the children, it seems from his statement, were averse to this being done at the time, and now that counsel had been given concerning women being sealed to their husbands there was a feeling that they would like to have their mother sealed to their father. Brother Lorenzo Snow had requested Brother Hammond to see me on the subject, and I suggested that she be sealed to her husband, but not disturb the record of the other administration. His own wife with whom he is living has been married to him for time, and her deceased husband’s wife is anxious to have her receive her [2 words redacted relating to a temple ordinance] to the dead, but she is reluctant, because she says she is more attached to Brother Hammond than she is to her dead husband, she having lived with the latter only a short time as a plural wife. I suggested that this being her feeling, to let the [2 words redacted relating to a temple ordinance] stand for the present, and not embarrass the case still more by having this attended to. If she ever intends to ask for the first marriage to be dissolved, the administration of this ordinance would complicate the situation. She herself is very careful though not to rob the dead, nor to do anything that would be improper.
Brother Rulon S. Wells, who has been selected to go and preside over the European Mission, called and had a long conversation with President Woodruff and myself. I suggested to President Woodruff the idea of Brother Wells having two counselors, and mentioned the name of Brother Joseph McMurrin as one of them. President Woodruff seemed to be quite pleased with the suggestion. I suggested to Brother Wells that I thought he would find Brother Edwin F. Parry an excellent counselor. He is now over there, and is an excellent writer and a man of ability.
Mr. Kenworthy, of the Atchison, Topeka & Santa Fe, called to see me about using influence to have Congress make no appropriation in favor of a harbor at Santa Monica, California, but if any appropriation is to be made, to have it made for San Pedro.
President Smith was not at the office to-day; he is attending the Summit Stake Conference.
President Woodruff left, the office early in the afternoon, his health not being very good.
Tuesday, May 12, 1896
President Woodruff telephoned that he would stay at home to-day if he was not needed at the office. I replied that there was no necessity at present that I could see of his coming up.
We are in a very bad condition financially in respect to the Sterling mining property. About $20,000 has to be raised immediately, and Abraham has written a letter to us upon the subject. He has been carrying a heavy load, at our request, because we had not time to attend to it. He has borrowed money to pay in to relieve the situation – some $15,000 I believe; but $20,000 more is needed immediately to meet pressing bills, and even then it will be necessary to get an extension on the other indebtedness, which is very heavy. Abraham makes us two propositions. First, all that he has heretofore done and all the interest he has in the company he will freely give if we will release him from any further connection or responsibility in the matter; second, he will take the property at what it cost the stockholders and do his best to pull it through, if we will give him an option to take effect as soon as the present option given to Sam Godbe shall expire, which will be on the 17th, for $250,000. It will take this amount to pay the debts. The understanding with him is that if he takes it at that figure, whatever he makes over that shall be his. We have been signing papers to this effect, agreeing to the proposition. We shall all feel relieved if we can get out of it without any further loss, though it is a great disappointment to us, because we did hope by this means to get relief for ourselves and the Church.
Franklin S. Richards came in with his father and had some conversation upon the situation, and he seemed very desirous that there should be a meeting of leading men of both parties with the Presidency of the Church. I expressed myself to him as I had done the day previous, that I was quite willing to have such a meeting.
Wednesday, May 13, 1896
At 11 o’clock I attended a meeting of the Salt Lake & Pacific R.R. President Woodruff desired to be excused from this meeting, as his health is not very good. We attended to considerable business. I made a report of my trip east. A committee was appointed to prepare propositions to be made to the Oregon Short Line people, whom we expect here tomorrow. I appointed Colonel Donnellan, N. W. Clayton and J. E. Dooly. Abraham and myself were added to the committee at the request of the Board.
In the afternoon I attended a meeting of the Wonder Mining Co.
A proposition has been made by Brother Moffatt, whose land will be covered with the water of the reservoir in Ogden valley, if the Pioneer Co. erects the proposed dam, to sell us his land. He has spoken very nicely upon the subject, and I was much in favor of making him an advancement, as he is about to go to Mexico.
I signed a large number of vouchers this morning, in my capacity as chairman of the executive committee of the Pioneer Co.
Thursday, May 14, 1896
I had a conversation this morning with Brother Moffatt and Judge Shurtliff concerning the purchase of the former’s land. President Smith was also present. We finally came to a decision to pay him $6500 for his land and improvements. Brother Moffatt manifested a very kind feeling and spirit, and was willing to take any price that we should set, having confidence in us as his brethren. He expressed himself as being quite satisfied with the amount decided upon, though he himself had thought he was entitled to $7000.
At 11 o’clock the First Presidency went to the temple and met with President Snow, F. D. Richards, F. M. Lyman, J. H. Smith, H. J. Grant and A. H. Cannon. The question of where would be a proper place to erect a monument for Brother John Gibbs, who was slain in Tennessee while preaching the Gospel, came up. It seems that the Young Men’s Mutual Improvement Associations of Cache Valley have designed and completed a monument in memory of Brother Gibbs, and they desire to have it either put upon the Temple block or in the Tabernacle square in Logan. It struck me that it would be inappropriate to put the monument at either place, but that the most suitable place would be either in the cemetery where his body was entombed or at some point in Paradise where he resided. It appeared to me that the erection of the monument on the Temple block would not be a suitable thing, because there are others who have been martyred, and if we begin putting monuments there we do not know where it will end.
Brothers Lorenzo Snow and F. M. Lyman both expressed themselves in favor of it being erected where the family would be interested in it and where the martyr had lived; and at the request of President Woodruff, I moved that it be said to the persons who are getting up the monument that in our view it would be more appropriate for the monument to be erected either at the cemetery or at some point in Paradise where the citizens and the family would think best. This motion was carried; but two of the brethren did not vote for it, though they did not give their reasons for not voting. I do not know whether there had been any discussion of this question at a previous meeting during my absence. President Woodruff expressed himself as being against putting it on the Temple block.
A little before 1 o’clock I, in company with my son Abraham, drove down to meet Mr. Samuel Carr, the chairman of the Reorganization Committee of the Oregon Short Line; Mr. Clark, of the Union Pacific; Mr. Dickinson, Manager of the Union Pacific; Mr. Coolidge, of the Reorganization Committee, and Mr. Nichols, attorney of the Oregon Short Line. We stood on the platform and conversed while the train waited. They did not remain more than half an hour, when they proceeded on their way south, expecting to return to-morrow evening. Mr. Carr, in answer to my question as to when we should meet, said he thought the day after to-morrow.
I dictated my journal to Brother Arthur Winter.
Friday, May 15, 1896
There was a meeting of the Board of Directors of Z.C.M.I. at 11 o’clock, at which considerable business was transacted.
The First Presidency had an interview with Geo. M. Cannon concerning the indebtedness of Brother Rulon S. Wells to the bank. He wished to know our mind about it, as Brother Wells has been called to go on a mission. We suggested to him that he take steps to learn the best arrangements that Brother Wells can make in view of the fact that his brother, Melvin Wells, had been willing to assist Rulon in his difficulty.
The First Presidency had some conversation with B. Cluff, Jr., concerning the affairs of the Brigham Young Academy.
I received a dispatch from the Oregon Short Line party that they would be back to the city this afternoon, and that they would like to have an arrangement made by which they could hear an organ recital to-morrow morning at 11 o’clock. I had the necessary steps taken to grant their request.
Saturday, May 16, 1896.
At 10 o’clock, in company with my son Abraham, I went to the Tabernacle and met Messrs. S. H. H. Clark, Ed. Dickinson, W. H. Bancroft and J. H. Young, of the Union Pacific, and Messrs. Carr, Coolidge and Nichols, of the Oregon Short Line. There were a number of others present also. Professor Daynes played several selections on the organ, which appeared to be much appreciated by all, especially by Mr. Carr, who himself is an organist.
After this, we came up to our office (that is, the three gentlemen of the Oregon Short Line and Mr. Clark), where we held a meeting, there being myself, my son Abraham, Colonel Donnellan, N. W. Clayton present as the committee which had been appointed to attend to this business with the Oregon Short Line people. Mr. Dooly was also on the committee, but was compelled to go to California last night.
Sunday, May 17, 1896
I attended the Tabernacle at 2 o’clock, and my son Abraham spoke to the congregation.
We spent two hours with our visitors this morning in going to Saltair.
Monday, May 18, 1896
I felt very much fatigued this morning.
I was glad to find President Woodruff able to come to the office. His health has not been good of late, and I have felt concerned about it; but he seemed quite lively to-day.
We had a meeting of the Salt Lake & Pacific R.R., and I made a report to the Board of the transactions which had taken place between the committee and the Oregon Short Line representatives. Our report was accepted, and on motion we were instructed to continue our labors in the direction indicated, and to make propositions and to close affairs with the Oregon Short Line people on the lines suggested by them. The following report, written by my son Abraham in a letter to my son Frank at Washington, is a summary of the whole proceedings:
“On Saturday the 16th inst. a meeting was arranged between a committee of the Salt Lake & Pacific Railway Company and the Reorganization Committee of the Oregon Short Line and Utah Northern Railway system. There were present at this meeting representing the Salt Lake & Pacific Railway Company, Father, John W. Donnellan, Nephi W. Clayton, H. H. McCartiney and myself; as representatives of the Reorganization Committee there were present, Chairman Samuel Carr, Committeeman T. Jefferson Coolidge, Jr., Counsel H. G. Nichols, and Mr. S. H. H. Clark, President and Managing Receiver of the U.P. Railway. There were three principal matters considered at this meeting:
(1) We proposed to purchase the Utah & Nevada Railway property, consisting of rights of way, equipment, Garfield Beach property, etc., for $300,000.00, to be paid in 20 years-6% gold bearing bonds on the Salt Lake & Pacific Railway Company’s property, which is to include the Salt Lake & Los Angeles line and the road as extended from Saltair Beach westward;
(2) We desired to purchase the Utah Southern Railway system, including the Tintic branch, but failing to do this we were desirous of making satisfactory traffic arrangements whereby we could run our trains into Salt Lake City;
(3) We desired to purchase the second hand steel rails which will pass our inspection, and which are to be displaced by heavier rails on the Oregon Short Line and Utah Northern Railway.
In our conversation concerning the first proposition it was very evident that Mr. Carr and his associates feared that the building of the road to Deep Creek from Salt Lake City, via Tooele, would injure their property which extends to Tintic, and expressed the belief that should our proposed line be constructed, the Rio Grande would take an early opportunity to build into the Deep Creek country from Tintic. The Reorganization Committee promised to give the proposition consideration and inform us of their decision with regard to our offer previous to leaving this city.
The second proposition met with favorable consideration, and the gentlemen expressed no doubt concerning the possibility of making trackage arrangements whereby our trains could be run into Salt Lake City from our Southern Utah line. Mr. Clark stated that the Union Pacific had an arrangement with the Rock Island route whereby 30¢ per train mile for passenger trains and 25¢ per mile for freight trains was paid. The Montana Union paid the Union Pacific System for trackage arrangements 50¢ per train mile. He thought this the simplest method of dealing with this question, though he suggested that until a considerable portion of our line toward Los Angeles was built, it would undoubtedly be best to arrange for car transportation for their motive power on some terms that would be to our advantage. It was very evident, however, from our conversation upon this point, that the Reorganization Committee desired us to build the line through Southern Utah to the Pacific Coast, and that they would meet us on any reasonable terms, expecting, of course, that we would give them the benefit of the haul on all unconsigned freight and the local business, but that the through return freight should be divided between the Oregon Short Line, the Union Pacific system and the Rio Grande Western.
On the third proposition the Committee stated they could meet our wishes to the extent of furnishing us 100 miles of 56 lb. steel rails in good condition. The price on the same, however, they would fix later.
Yesterday (Sunday) we held a meeting with Messrs. Carr, Coolidge and Nichols, lasting from 11:30 a.m. until 1:15 p.m., and from 7:30 in the evening until 9:15, the result of which conference was that they submitted to us the following proposition, which is, of course, subject to the approval of the entire committee:
‘PROPOSITION of Mr. Samuel Carr, Chairman of the Reorganization Committee of the Oregon Short Line and Utah Northern Railway, made in the presence of his associates, Messrs. S. H. H. Clark, T. Jefferson Coolidge, Jr., and H. G. Nichols; also in the presence of George Q. Cannon, John W. Donnellan, Nephi W. Clayton, John M. Allen and Abraham H. Cannon representing the Utah interests:
It was proposed by Mr. Samuel Carr that the Salt Lake & Pacific Railway Company build a line connecting with what is known as the Salt Lake and Western from Tintic westward to Dugway, extending beyond that point if thought desirable by said Salt Lake & Pacific Railway Company. In consideration of which extension it is agreed that mutually satisfactory arrangements for the transportation of materials will be reached, and that suitable traffic agreements will be made whereby the trains of the Salt Lake & Pacific Railway Company can enter Salt Lake City over the road constructed between Salt Lake City and Tintic, which forms a part of the Oregon Short Line and Utah Northern Railway system. If this proposition is accepted by the Salt Lake & Pacific Railway Company, it is then agreed that Mr. Carr and his associates will sell to said Company the entire Utah & Nevada property for $300,000.00 cash, or its equivalent, with the understanding that neither the Utah & Nevada, the Salt Lake & Los Angeles, nor the combined railway lines shall be extended beyond Ophir, Tooele County, Utah.
It is further proposed that Mr. Carr and his associates will make such satisfactory traffic arrangements with the Utah and California Railway Company as to enable them to build their line from Milford to the west and south, with the ultimate object of connecting Salt Lake City with the Pacific Coast.
It is further proposed by Mr. Samuel Carr and his associates that the Oregon Short Line and Utah Northern Railway Company will sell to the said Salt Lake & Pacific Railway Company for first mortgage bonds which are to be issued on their proposed lines at not to exceed $10,000.00 per mile first and $5000.00 per mile second mortgage 20 year 6% gold bearing bonds, 100 miles of 56 lb steel rails in good condition, for which a charge of not to exceed $22.50 per ton is to be made, F.O.B. at Salt Lake City, Milford or Tintic.
It is further understood that if said proposition of Mr. Samuel Carr and his associates is approved by the Salt Lake & Pacific Railway Company, its acceptance will have great weight with the Reorganization Committee in determining to permanently locate the general offices of the Oregon Short Line and Utah Northern Railway Company in Salt Lake City. (The committee of the Salt Lake & Pacific Railway Company felt that the location of the offices, machine shops, etc., of the Oregon Short Line and Utah Northern Railway Company at Salt Lake City, would be the only condition on which the citizens and City Council of Salt Lake City would acquiesce in the change of plans from those now prepared by the Salt Lake & Pacific Railway Company for the construction of the line directly to the west.
It is understood that the above proposition is subject to the approval of the absent members of the Reorganization Committee, and that its early acceptance or rejection be indicated.
I am pleased to say that our Board of Directors met this morning and decided to build from Tintic to Deep Creek and to purchase the Utah & Nevada line, building from Saltair to Ophir, and thus control what we think is the railroad situation as far as Deep Creek is concerned. This decision was reached providing, of course, that we can make suitable arrangements to carry out Mr. Carr’s proposition.”
Tuesday, May 19, 1896.
We held a railroad meeting this morning, as a result of which the following dispatch and letter were sent:
“To Samuel Carr, on line west,
C/o S. H. H. Clark.
Further examination of your proposition removes from us the doubt as to its possibility. We shall be ready to take up entire question with Mr. Clark when we meet. Will expect some modifications. Letter mailed you to-day at San Francisco.
Geo. Q. Cannon.”
“Messrs. Samuel Car and T. Jefferson Coolidge, Jr., members of the Reorganization Committee of the Oregon Short Line and Utah Northern Railway Company, and Mr. S. H. H. Clark, President and Managing Receiver of the Union Pacific System,
At a meeting of the Board of Directors of the Salt Lake & Pacific Railway Company held this day your proposition as herewith enclosed was submitted and carefully considered. While it was thought in our last conversation with you that the terms upon which Pioneer Square was granted to our Company would render the acceptance of your proposition impossible, we found upon examination that the obstacles were not insuperable; and especially in view of the promise which you gave us in case this deal was concluded that your general office and principal shops would be established at Salt Lake City. The result of our consideration of the matter now is that authorization has been given to present to you and your associates the following acceptance:
The Salt Lake & Pacific Railway Company will agree to build a standard guage railway line from Tintic to the Nevada Sate Line via Dugway – a distance of about 120 miles – on the following conditions:
(1) That immediate, favorable and mutually satisfactory arrangements be made for the transportation of material for construction purposes to Tintic, and that traffic arrangements be concluded whereby said Salt Lake & Pacific Railway Company can run its trains into its terminal properties in Salt Lake City, or can enjoy car trackage privileges.
(2) That early arrangements be made for the delivery at Tintic of 100 miles of second-hand 52 or 56 lb. steel rails in good condition, at a price not to exceed $20.00 per gross ton F.O.B., payment for said rails to be made in 20-year 6% gold bearing first mortgage bonds on said railway line at a rate not to exceed $10,000.00 per mile.
(3) That immediate possession be given said Salt Lake & Pacific Railway Company of what is known as the Utah & Nevada Railway property, consisting of the railway line between Salt Lake City and Terminus, together with the rolling stock and equipment, terminals, rights of way, franchises, Garfield Beach property, and sufficient second-hand 52 lb steel rail to replace the present 30 lb iron rail between Garfield Beach and Terminus, such transfer to be made under restrictions and conditions that will protect the interests of the present owners, but thus enabling the Salt Lake & Pacific Railway Company to complete the construction of its line from Salt Lake City to Ophir. The Salt Lake and Pacific Railway Company are to then issue 20-year 6% first mortgage gold bonds at the rate of $10,000.00 per mile on the Salt Lake & Ophir division, $300,000 of which bonds are to be paid to the present owners of the Utah & Nevada road for their property. The Salt Lake & Pacific Railway Company on their part agree to refrain from extending their railway line beyond Ophir.
(4) That assurances be given within a reasonable time that the general headquarters of the Oregon Short Line and Utah Northern Railway Company, including the principal shops, shall be located at Salt Lake City.
Our acceptance of your proposition with the slight modifications which you will note in the communication, now places us in a position to arrange all details with Mr. S. H. H. Clark when he returns to this city.
Trusting that our future business relations may be mutually pleasant and profitable,
Geo. Q. Cannon, President.
Abraham H. Cannon, Secretary.
I left for Ogden on the 12:25 train and spent the day there till about 6 o’clock with Mr. Bannister, going over the affairs of the Company. He communicated to me that he was seriously considering the plan of building a steel dam for the Ogden river instead of a stone structure. He had conversed with Mr. Banigan upon the subject, who seemed favorably impressed with the idea, and Mr. Bannister tells me that it meets with the approval of very eminent engineers who think it entirely practicable and will make a much better dam than stone. It can be built for $100,000 less than stone and possesses many advantages over the latter material. In reply to my question as to whether it had ever been tried, he said no; but plans for another dam had been drawn out and approved, but want of funds had prevented carrying it into operation. I was favorably impressed with all the explanations he made to me upon the subject. He informed me that the attention of engineers was being drawn to our enterprise, and it was exciting a good deal of interest. We shall have the longest pipe line in the world, he says, when it is completed, and the largest reservoir.
While ther[e] I had an interview with Brother John Scowcroft, the president of the new business men’s club which has just been organized, with Angus Wright, one of the directors, and John Watson, the Supt. of Z.C.M.I. in Ogden. My object in seeing them was to carry out the ideas suggested by my son Frank in a letter which he wrote to me, and in which he urged the necessity of some immediate action being taken by the Pioneer Company to secure bonuses, &c., in Ogden. I had a free conversation with these brethren, and told them what we were doing and the responsibility we had assumed in this matter, and our sole object in it was to help Ogden and to give employment to our people; in other words, to build up Zion, and we wanted their hearty cooperation. They expressed themselves that they would do what they could. Brother Scowcroft said he thought it would be well to appoint a special committee to take this matter in charge, and also that we should ask for such bonuses and help as we wanted. He thought this would be better than for them to propose to us. This suggestion, I think very good.
Wednesday, May 20, 1896
My son Preston has been quite sick since I returned, and we scarcely know what the trouble is. He suffers from headache and nausea at the stomach, and pain in the stomach and back. He has always been an exceedingly healthy boy.
I described to Presidents Woodruff and Smith the result of my visit to Ogden yesterday.
I dictated my journal to Brother Arthur Winter.
Thursday, May 21, 1896
Brother C. R. Savage has been pressing me for some days to have my likeness taken. I called in this morning and his son Ralph took a number of negatives of me in a standing position.
At 11 o’clock attended meeting at the Temple. President Woodruff was not with us. His wife Sarah is said to be dangerously sick at Provo, and he felt so stirred up in his feelings that he could not rest; so he took train this morning for Provo. I felt that he is incurring some risk, in his condition of health, to go on this journey and to endure the excitement which he will naturally share in; but President Woodruff’s nature is one of action, and perhaps it would do him more harm to chafe here under the anxiety than to take the journey.
Friday, May 22, 1896
President Woodruff is still absent at Provo. We hear that his wife is a little better than she has been.
At 11 o’clock we had a meeting of Cannon, Grant & Co. There were present, Heber J. Grant, T. G. Webber, A. H. Cannon, Geo. M. Cannon, Heber M. Wells (part of the time) and myself. I have been anxious to get the affairs of this company into shape with a view to a dissolution of the partnership, and I have been very much exercised about this; but I have been so closely occupied in other matters for some time past that I have not had time to bestow much thought upon it or give attention to it. I called this meeting, however, to continue the work that we have commenced, and we were together about three hours and made considerable progress looking to a settlement. It is very evident that I shall lose very heavily through this – at least that is the present outlook, and whether I will be able to meet the indebtedness that will rest upon me is a question; but I am anxious to know the worst and to be prepared for it.
After I returned home, the following dispatch arrived and was telephoned to me:
“New York, May 22, 1896.
To Hon. Geo. Q. Cannon,
Could you use four hundred and forty thousand cash in your Railways with sufficient profit to justify giving Church unsecured notes for six hundred thousand running from one to three years at six per cent, you to receive John’s note and collaterals for other one hundred and sixty thousand? If the Utah Pacific or Southern road will give you a million bonds for Church help and that much money I figure out a good investment for Church without counting John’s note. Would you pay me twenty bonds for such a proposition? Next week money ready as required.
Junius F. Wells.”
Saturday, May 23, 1896
Mr. Coolidge is expected in this morning. I learned last night that Mr. Clark had proceeded on to Omaha. This is quite a disappointment, as we had depended on having a settlement of our business with him, preferring to do business with him to any others, because of his familiarity with all the conditions.
Since writing the above we have had a very satisfactory interview with Mr. Coolidge, of the Oregon Short Line, and Mr. Dickinson, of the Union Pacific. The following is a report of that interview drawn out by my son Abraham in a letter to Frank:
“At a meeting of the Committee with Messrs. T. Jefferson Coolidge and Ed. Dickinson on Saturday, May 23, it was mutually understood
(1) that Mr. Coolidge will recommend the acceptance by the Reorganization Committee of the following railroad rates: (a) The Salt Lake & Pacific Railway Company are to pay for its trains from Tintic to Salt Lake 40¢ per train mile; (b) for car trackage arrangements, the lowest rate now charged by the Union Pacific System from Tintic to Salt Lake City is to be added to our tariff from the Deep Creek Country. In other words, we are to pay the lowest rate to the Union Pacific System for less than train load lots; (c) a commodity rate of 1/2¢ per ton mile is to be given the Salt Lake & Los Angeles Railroad Company for all material used for construction purposes.
The Oregon Short Line and Utah Northern Railway Company are to furnish the Salt Lake & Pacific Railway Company, 52 lb steel in sufficient quantity to build the line from Garfield Beach to Ophir, in return for which they are to receive the 30 and 35 pound iron now used on their narrow guage track. The price for second-hand steel the Reorganization Committee are to receive bonds which are to be issued on 150 miles of road, at the rate of $10,000.00 per mile, said bonds to be gold bearing, six percent, 20 year bonds. Of this distance 60 miles is to be immediately built, on which $600,000.00 of bonds will be issued.
(2) The Oregon Short Line and Utah Northern Railway Company will establish and maintain its general offices and headquarters, including such shops and other facilities as may be necessary for the proper operation of the system, in Salt Lake City.
Mr. Coolidge further stated that the Reorganization Committee would furnish us some first class light engines which orginially cost from $6500 to $7000 each. They were in perfect order, but were too light for the work on their road. Consequently they would sell them to us at about $5000 apiece, and take bonds for the same. The size of the cylinders on these engines varies. Those he thinks we would desire would be 15+22 and 17+24, the weight being about 25 to 32 tons. They will allow us to use their rolling stock on the usual terms to other parties. The interview was a very pleasant and satisfactory one.”
Sunday, May 24, 1896.
Attended meeting in the Tabernacle at 2 o’clock, and I occupied the time in speaking to the people upon the subject of faith. I read the 11th chap. of Hebrews as a foundation for my remarks.
Monday, May 25, 1896
President Woodruff and myself had a long interview to-day with Brothers N. W. Clayton, James Jack and A. H. Cannon. President Smith was absent to-day. We went over our affairs connected with the Salt Lake & Los Angeles and Saltair Beach Companies. I am very desirous that we should have a settling up of these affairs in such a way that the equities of those who have interests in the property may be preserved and a proper division be made so that we may start out in this new arrangement with everything in proper order. It occurred to us in conversing about this that it would be a much better plan if we, the Salt Lake & Los Angeles C., could arrange affairs so that we should have the control of the new purchase that we propose to make – that is, the Garfield Beach property and the Utah & Nevada R.R. Brother Clayton thought an arrangement of this kind could be made; Abraham also seemed to have the same idea; but I expressed myself to the effect that if it was made – which I thought very desirable – care should be taken to preserve the confidence of the non-Mormons on our Board that they would not have any cause to think we were trying to take any advantage; for we must not have distrust created if it is possible to avoid it.
Tuesday, May 26, 1898.
President Woodruff, President Smith, Bishop Winder, A. H. Woodruff and myself went to Ogden this morning on the 7 o’clock train, and were met at the station by Mr. Bannister with carriages, and we drove some 15 miles down on to the land that we are endeavoring to take water to through the Fremont Canal. We all enjoyed the trip very much, as it gave us a good idea of the situation. President Woodruff endured the trip very well indeed. We took lunch at the Weber club house, and held a meeting of the Company there.
Wednesday, May 27, 1896
I stopped this morning at Sainsbury & Johnson’s and had my likeness taken. I had a call from Crosby S. Noyes, Esq., one of the proprietors of the Washington Evening Star. I had Brother Spence take a carriage and go down to the hotel for him and his party and show them around the city.
I had a call also from Mr. Burns. He is an intimate friend of the Vanderbilts and of Dr. Seward Webb, and called at the latter’s instance to see me about the conditions here, as he is desirous to have the Wagner Car system introduced on our railroads. Mr. Burns was accompanied by Mr. Gus Holmes and ex-Mayor Scott. After hearing what he had to say, I told him that I, as President of the road, would see that no negotiations were entered into with the Pullman Company, to close affairs with them, without first hearing from and consulting with the Wagner people. He told me that Dr. Webb would write to me, and when I came to New York he would like to see me.
We had a meeting of the Co-op. Wagon & Machine Co. this afternoon.
The First Presidency had a meeting with Brother N. W. Clayton and Abraham H. Cannon in relation to the railroad affairs.
Thursday, May 28, 1896
At 11 o’clock the First Presidency went to the Temple and met with President Lorenzo Snow, F. D. Richards, Brigham Young, F. M. Lyman, J. H. Smith, H. J. Grant and A. H. Cannon.
President Woodruff called upon President Smith to make a statement concerning his recent visit to Logan to attend a conference of the Mutual Improvement Association. He described the results of a meeting which he had called, at which were present, himself, M. W. Merrill, of the Twelve, B. H. Roberts and J. G. Kimball of the Seven Presidents of Seventies, Orson Smith and S. M. Molen of the Presidency of the Stake, and the local presidency of the Young Men’s Mutual Improvement Association. The object of the meeting was to consider the propriety of submitting Moses Thatcher’s name to the Conference as a Counselor to President Woodruff in the Association. All the brethren expressed themselves freely, but President Smith discovered a great sympathy for Brother Moses Thatcher in the minds of the brethren. Brother J. G. Kimball was quite strong in his expression that it would not be wise to withhold the name, in which feeling he was joined by W. H. Maughan, Jr., counselor in the local presidency of the Association. S. M. Molen said he felt the same as they did; but after hearing Brother Merrill’s remarks he took the view that it would be improper to present the name. Brother B. H. Roberts, while expressing very great love and affection for Brother Thatcher, thought it would be improper to present the name. President Smith related a number of instances connected with this subject which, to his mind, were conclusive proofs that Moses Thatcher was doing a great deal of mischief and creating division among the people, and that it was the duty of the Council of the Twelve to take his case in hand and deal with him. He was able, he said, to travel and hold interviews and “buttonhole” everybody he could, and conveys the impression to them that he is a much injured man. He left Salt Lake City some days before the conference at Logan and was at Logan during the conference, but did not make his appearance, though Bishop Hughes told President Smith he saw him out in the evening as late as 10 o’clock. President Smith was also told by young John Squires, who shaves Brother Thatcher, that Brother Thatcher had told him that he had called all his household together and submitted to them a proposition. It was that there was a division of sentiment between himself and the rest of the brethren and perhaps he was wrong and the brethren were right; but whether he was right or wrong he wanted his family to examine into the matter and stand by the right, and then called a vote of his family, and they all voted that he was right. President Smith also related a conversation that was reported to him as having taken place in the hearing of Brother W. H. Lewis, of Lewiston, between a man named Haines, who has been Mayor of Logan, and who is a very warm friend of Moses Thatcher, and another man whose name was not given, but who was said to be a very good Latter-day Saint, in which conversation Haines told a number of falsehoods concerning myself, accusing me of having gone to Chicago and procured a blackleg and sharper to come out here, and by his agency had succeeded in ousting Moses Thatcher and his friends from the control of the Bullion, Beck & Champion Co’s property. He said that Moses Thatcher had said if he died he would die fighting against me in defense of the rights of widows and orphans. He did not mention who these widows and orphans were, but President Smith gathered from the remarks that he must have referred to President Taylor’s family. Haines further said that the best thing I could do for myself and for the whole people would be to go out somewhere and die. Of course, where a man has this feeling concerning another, that he ought to die, it is a very easy step from that to the feeling that it would be a meritorious thing to kill him. I need not say in my journal at this point that the whole of this is a tissue of falsehoods. I may remark here that last evening, after the meeting of the Co-op Wagon & Machine Co., I called Brother Philo T. Farnsworth to one side and asked President Smith to relate what he had heard concerning this conversation of Haines. He told the story as it was reported to him by Bishop Lewis, and Brother Farnsworth said it was utterly false, and he was in a position to know that, and that I was entirely innocent of any such action; but there was another side, which, if told, would show Moses Thatcher’s conduct in connection with this Company in a light that would be very discreditable.
After President Smith had concluded his statement to the Council and given his views as to the necessity for some action, and that Promptly, President Woodruff spoke very emphatically upon the subject and charged President Lorenzo Snow and the Twelve with the duty of taking this matter in hand and dealing with it; that we should not allow this to go on, but should call him to an account.
Remarks were also made by President Lorenzo Snow and Brother F. M. Lyman.
President Woodruff was desirous that I should talk, and I spoke in reference to the propriety of his being summoned to meet the Twelve and the First Presidency. I said that I did not think this was proper. It seemed to me that the proper thing to do was for the Twelve Apostles to take the case up, Brother Thatcher being one of their body, and deal with him. Of course, they could ask counsel from the First Presidency, and it might be necessary for the First Presidency to take hold of the subject afterwards. In response to inquiries concerning the manner in which Amasa Lyman was dealt with, I related what I knew upon that subject. I spoke with more plainness about Moses Thatcher’s course than I had ever done; for I felt that there was danger of some one thinking my remarks might be prompted by a recollection of his treatment to me. I said that I had not had confidence in him for a long time. He had prophesied in the name of the Lord, and he had prophesied falsely, (I referred in this to the discourse that he delivered all through Cache Valley some years ago concerning the Prophet Joseph) and I said he was a false prophet. His spirit had been one that I felt was not of the Lord on numbers of occasions. His disposition had been, when opportunity offered, until recently (I have not heard anything from him recently), to deliver moral lectures to us, as though he were a paragon of honesty and uprightness himself and the rest of us were not so perfect as we ought to be. I said, moreover - I had never mentioned it before, but I thought it right to mention it now - while I was in prison he had threatened to employ a lawyer to sue me, and had charged that I had funds in my keeping that belonged to him, which were wrongfully kept from him. Upon my emerging from prison, I proved to the quorum in his presence, and in a manner that he could not question, that instead of my having any of his funds I had overpaid him about $100, and he had to acknowledge that my statement was correct. But notwithstanding he had made this threat before the quorum of the Twelve, I had never heard of that quorum making any requirement of him that he should make that matter right. I did not care for myself, because I was not present and did not hear it, and I had vindicated myself; but it seemed to me that the quorum owed it to itself and its own dignity that he should be required to make amends for that to the members. I said I never saw a day in my life when I would submit to my brethren, the First Presidency or the Twelve, being talked about or accused wrongfully. I thought it the duty of the Twelve to defend the First Presidency. When I was a member of the quorum in the Godbe case I had stepped forward and had taken upon myself all the odium that they attempted to throw upon me for taking up that case. I had been abused for my conduct in that case before the High Council. Godbe was an intimate friend of mine, belonging to my prayer circle; but I had never regretted doing what I did. President Young had suggested it, and I took hold of it willingly. I thought it was due to the Presidency that I should do all in my power to shield them by taking an active part in this, instead of leaving it for them. I felt the same now.
Brother Heber J. Grant acknowledged that he had been inclined very much to treat Brother Thatcher with leniency, and when Brother Brigham Young had urged as late as last January that prompt action ought to be taken he had urged a different policy, and he now acknowledged that Brigham was right and he was wrong. But he said he had been influenced in times past by Moses and got into the trouble we knew about and was in the mud as much as Moses, and he was desirous to save Moses, and under the influence of this feeling he had plead for leniency and for action to be postponed while he was in his sick condition.
Brother John Henry Smith made a number of remarks about Moses Thatcher’s condition; that he was not responsible; that Dr. Pinkerton said he was an insane man part of the time; and Brother John Henry’s argument led to the inference that he thought he was not responsible for his present action. It was remarked to him, however, by Brother Grant and others that it was unfortunate for that theory that whether under the influence of morphine or not, he had the same spirit precisely that he had before he began to take morphine, and that this was no new manifestation but it was the old spirit which he had manifested before he was in his present condition, and if he was an innocent man he was exceedingly cunning and crafty and was working to accomplish his ends.
It was finally decided that the case be left to the Twelve to manage, and that the Twelve be brought together as soon as possible.
At 2:15 (although we were late for the train) President Woodruff and his wife, President Smith, Brother Brigham Young and his wife, my son John Q. and his wife, Colonel Clayton and myself and wife accompanied Crosby S. Noyes and his daughter and Captain Colhaghi of the British Army, who is traveling with Mr. Noyes, to Saltair. My daughter-in-law Annie and Miss Noyes and myself and Captain Colhaghi took a bath in the lake. The water was cool, but not unpleasant. I have shown Mr. Noyes and party some attentions while they have been here, which they appear to appreciate.
Friday, May 29, 1896
Brother Joseph McMurrin called in this morning, and President Woodruff and myself had some conversation with him concerning his taking a mission. We think he will make a suitable counselor to Brother Rulon S. Wells in the Presidency of the European Mission. He is an excellent speaker, and has filled a very good mission to England. He told us that his wife felt very badly at the thought of his going; for when he went on his previous mission they had been newly married and the family was small, but now she had a family of six children and her health was not very good. We told him that she might feel relieved on that subject, because we thought it no more than right to render him assistance, at which he seemed greatly relieved. We told him to look about and see what he thought the family would require during his absence.
President Smith Brother Heber J. Grant and myself had a long conversation with President Woodruff this morning in relation to a proposition which Cannon, Grant & Co. has decided to submit to him as Trustee-in-Trust. At one of the meetings of the Company we came to an understanding as to the course we would take, and I asked Brother Grant to make a minute of what was done in writing[.] I give herewith the memorandum that he made, and it was upon this that we based our proposition to the Trustee-in-Trust:
“If the Trustee-in-Trust will assume our note for $75,000 at the National Park Bank as the securities at the present market price amounting to $91,000, there will be a margin of $16,000, which margin we can apply on our indebtedness to the Trustee-in-Trust on account of the Claflin loan of $60,000. We are owing the State Bank $48,700, note and overdraft. There is $29,000 of Zion’s Savings Bank stock as security on this and Heber J. Grant’s note for $15,000; $5600 (?) Salt Lake Livery stock, and $5000 Heber J. Grant Company’s stock. If the livery stock could be sold to the Trustee-in Trust or somebody else at 80 cents, and Grant & Co’s stock at 60 cents, and the Trustee-in-Trust take Zion’s stock at $1.40 – the price agreed upon – and endorse Heber J. Grant’s note for $15,000 at State Bank, there would be a margin of $14,380 which could also be applied on the Claflin note. We have loaned George Q. Cannon, Abram H. Cannon, George M. Cannon, Elias Morris and Thomas R. Cutler some $12,500 secured by sugar stock. If the Trustee-in-Trust would take the sugar stock at its face this $12,500 could also be applied on the Claflin loan, making a total payment of $42,880 thereon.
We have a large amount of money due the firm from unpaid subscriptions on capital stock, and would like if possible to get the Trustee-in-Trust to take the notes of Abram H. Cannon, Heber M. Wells, and other members of the firm for $17,000, which would make up the Claflin total indebtedness of $60,000. If this could be accomplished it would cancel indebtedness to the National Park Bank $75,000, State Bank $48,700, and Claflin $60,000; and the obligation assumed by the Trustee-in-Trust would be the endorsing of Grant’s note for $15,000 at the State Bank; the purchasing of $29,000 of Zion’s Savings Bank stock at $1.40, paying cash for the same, namely, $40,600, and the assuming of a $75,000 note at the National Park Bank. The Trustee-in-Trust would be assuming $115,600 of indebtedness for which he would receive $131,600 of Zion’s Savings Bank stock at $1.40, and $50,000 State Bank stock at 70¢, and $12,500 sugar stock at par, making a total of $143,100 by assuming $115,600 of debts. In addition he would get $17,000 and a fraction in sundry notes from subscribers to stock in the firm of Cannon, Grant & Co. The Company would thus be able to cancel the obligations to Claflin, State Bank and National Park Bank.
Now we address ourselves to the indebtedness at Zion’s Savings bank:-
The total indebtedness is $203,894.60. It is estimated that the Burton-Gardner real estate, if sold at $7000; the notes of Lyman and Lund of $2000, if collected; Z.C.M.I. stock $16,100, if sold at par; 10 shares of Grant & Co. at $600; 10 shares Home Fire at $800; 10 shares Zion’s Savings Bank at $1400; a note of Kibab $1000, would reduce the indebtedness to Zion’s Savings Bank $27,900.
It is estimated that the Kibab bonds and stock would reduce the indebtedness to $152,500.
It is estimated that a lot deeded to the company on account of subscription of Henry A. Woolley and H. J. Grant, in Twentieth Ward, would reduce the indebtedness $6000; Grant Bros. Livery Stable $30,000; indebtedness to the company by the Deseret News Company $26,000. This would reduce the net indebtedness to Zion’s Savings Bank to $90,000.
If these things could be accomplished the total indebtedness remaining of the firm would be $90,000 to Zion’s Savings Bank. For this amount we have no securities to offer as collaterals; but if individuals who have to, pay their subscriptions for stock could give secured notes to Zion’s Savings Bank for this sum then the firm could be dissolved.”
President Woodruff appeared to view the proposition favorably. He said he trusted to his counselors in these business matters a great deal. I said to him that I would not propose to him anything that I thought was likely to result in serious loss to the Church. The stocks we were offering I had bought some myself from the company, so that I had shown my own faith in the proposition. I feel sure that these stocks will rise in value and the Church will always be able to dispose of them, if necessary, for what they pay, and perhaps much more, and the interest that the Church will have to pay for money will be more than met by the dividends as they are at present paid.
Saturday, May 30, 1896
To-day was very wet and disagreeable. I intended to have gone to the cemetery, but the weather was so unseasonable that I did not venture to go.
I attended the conference of the Mutual Improvement Association to-day in the Tabernacle. The attendance was light, but the exercises were quite interesting, especially the singing.
Sunday, May 31, 1896
I attended the conference all day in the Tabernacle. There were three meetings, and I enjoyed them very much. I made some remarks at the request of Sister Elmina Taylor, who is President of the Young Ladies Association. She desired me to speak instead of her.