Pres[iden]t. Lorenzo Snow, as President of Zion's Savings Bank, was served by a deputy- marshal with papers of garnishment, garnishing any moneys in the bank belonging or salaries due to Geo[rge]. M. Cannon, John M. Cannon and Angus M. Cannon their father.
Cashier Geo[rge]. M. Cannon of Zion's Saving Bank called at the President's Office to talk over a matter of business pertaining to the Sterling mine. The bank held a note for $86,500.00, signed by Wilford Woodruff, Geo[rge]. Q. Cannon and Jos[eph]. F. Smith and secured by 150 bonds of the Sterling company. The note upon its face was a personal note, and the question of the cashier was to what extent the Church was responsible for the indebtedness of that company. Pres[iden]t. Snow took it for granted that each stockholder was responsible for the amount of stock that each held, the company being incorporated and the stock issued in the regular way. This ended the conversation.
[Source: Journal History, as quoted in Minutes of the Apostles of The Church of Jesus Christ of Latter-day Saints, 1910-1951, Privately Published, Salt Lake City, Utah 2010]
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