[Heber J. Grant]
I then met with the Presiding Bishopric and directors and manager of the Deseret News. It was understood that a cut of 20% should be made in the compensation of the employees of the Deseret News if this was necessary, in order to have the News self-sustaining. We told them we were perfectly willing that the employees should take the institution and run it without loss to the Church, and as soon as it could increase the salaries to the present standard by making a profit, the salaries could be raised at once, but we felt it was all wrong for the Church to be paying them salaries in these times, instead of discharging a lot of employees and cutting down expenses. The Manager said he had no doubt that the employees would feel all right about it and be perfectly willing to accept the decision. This will save the Church between $60,000. and $70,000. a year. I feel that it has been a good day's work.
[Source: The Diaries of Heber J. Grant, 1880-1945, Abridged, Digital Edition Salt Lake City, Utah, 2015]