First counselor Anthony W. Ivins computes that the church lost $6 million in stock investments and $900,000 in loans and business transactions with the Presiding Bishop Charles W. Nibley before his appointment as the second counselor in the First Presidency in 1925.
[The Mormon Hierarchy - Extensions of Power by D. Michael Quinn, [New Mormon History database (http://bit.ly/NMHdatabase)]]
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