Pres. Snow stated that it was thought to be desirable to make a second issue of bonds to the amount of $500,000.00. The first issue had been rapidly taken up, and the second issue, if made, would doubtless find a market. The money, he said, would be needed by the Church. The matter was then submitted to the brethren. It was moved by Elder J. H. Smith and seconded by M. F. Cowley that the second issue of bonds for $500,000 be made. Carried by unanimous vote.
Pres. Snow stated that the Church would be called upon tomorrow (Jan. 5, 1898 ) to pay $45,000 interest on certain bonds of the Pioneer Power Co. After some explanations were offered showing the relationship of the Church to said company, it was decided by unanimous vote to pay said amount.
[Stan Larson (editor), A Ministry of Meetings: The Apostolic diaries of Rudger Clawson, Signature Books in association with Smith Research Associates, Salt Lake City, 1993, http://bit.ly/rudgerclawson]