Presidents [Lorenzo] Snow and [Joseph F.] Smith gave an interview to Apostle Brigham Young [Jr.]; Bishop [William B.] Preston also being present. Brother Young had concluded to go into a business enterprise with his son-in-law...
President Snow, after hearing Brother Young's statement, told him that he very much questioned the right of an Apostle to go into business in such a way as to tie himself up, so that he would not be free to attend to the duties of the Apostleship; especially in view of the fact that he is so well remunerated for his services. Moreover, the President questioned the wisdom of Brother Young's doing as he proposed, since he would have to borrow money.
Brother Young reminded President Snow that nearly all the Apostles were engaged in some kind of business, and he, being an exception to the rule, was desirous of doing something too.
President Snow reminded Brother Young that brethren of the Twelve had gone into business and deplorably failed, and that the Church had to come to their rescue at great expense. It was time, he thought, that the Church should protect itself against a repetition of such things. ...
[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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