Brother Mons Peterson called and conversed with Apostle John Henry Smith regarding the obligation of $5,000, owing by him to the Church. He promised to pay the interest on the principal and as much of the principal as he possibly could this year, but he feared that he would not be able to pay as much as $1,000; but after this year he promised to pay $1,000 annually on the principal until it and the interest had been paid. His statement was reported to President Snow.
[First Presidency and Quorum of the Twelve minutes]
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