Presidents Lorenzo Snow, George Q. Cannon, and Joseph F. Smith were at the office.
President Cannon informed President Snow that he desired to pay a certain amount on account of tithing, but he did not have the money, and therefore proposed to pay it in Grand Central Mining stock at six dollars a share.
President Snow hesitated, for the reason that he did not know the value of such stock.
President Cannon remarked that he did not have to pay it, perhaps, but in order to satisfy his feelings he felt that he ought to do so.
President Snow answered that he did not see why President Cannon should pay tithing unless it was a tenth of his income.
President Cannon explained that his practice had been, whenever he was in a tight place, to overpay his tithing, and he had found that in doing this he had been prospered.
President Snow: "Then, President Cannon, you make the Lord your debtor, and obligated to you".
President Cannon: "No, not in that light."
After further talk on the subject President Snow said that he should leave such matters to President Cannon himself, as he knew what to do, and did not need any counsel from him.
President Smith, however, saw no reason why the Church should not receive President Cannon's tithing in this stock.
[First Presidency and Quorum of the Twelve minutes]