Francis M. Lyman writes, "This is the most difficult mission bro. Heber has ever undertaken, now that financial affairs are tumbling in all directions." The church was $500,000 in debt with no prospect of paying in time. Heber J. Grant had left for New York to see if the loans could be extended. He was successful.
[Source: On This Day in Mormon History, http://onthisdayinmormonhistory.blogspot.com]