Having completed the statement of assets and liabilities of the church, showing the financial condition thereof at the beginning of Pres. Jos F. Smith's administration, and also showing incidentally what had been accomplished during Pres. Lorenzo Snow's incumbency in office during the past three years of his life, I submitted the same to the First Presidency, going carefully over every detail....
In order that the reader may have a clear idea of conditions that prevailed in Feb. 1899 (when the first report was made) and also the conditions that now prevail, I record below a recapitulation of each report: ... The report, which covered eleven sheets of extra large ledger paper, was listened to with rapt attention by the First Presidency, who were greatly surprised and gratified with the excellent showing made and marvelled at what had been accomplished in so short a time by Pres. Lorenzo Snow under the special blessing of the Lord: for it will be seen that the assets of the church had not only increased in value to the extent of $111,879.62, but that the church indebtedness had been decreased $687,283.80. In addition to this, it will also be seen that the contingent indebtedness of Feb. 18, 1899, amounting to $1,568,954.29, had been entirely wiped out, while the net assets of the church jumped from $82,628.40 in Feb. 1899 to $881,791.82. And such was the glorious work accomplished by Pres. Lorenzo Snow and the saints under divine favor in the short period of three years. ...
[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]
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