The Brigham Young Center

B.P. Cheney, Esq.
Boston, Mass.

Dear Sir:-

It has occurred to me, on the suggestion of mutual friends, that it might not be improper to submit to you, a matter of business, which I will at once bring before you.

In a late transaction with the U.P.R.R. Co. I received a large quantity of railroad material, with which a road called the "Utah Central" has mainly been constructed and equipped, and for the entire amount of which I hold "Utah Central Bonds."

At present, however, I am somewhat pressed, and I wish to hypothecate some of these bonds, say to the amount of $100.000.00/100.

The U.C.R.R. connects with the U.P.R.R. and C.P.R.R. at Ogden City, and runs to Salt Lake City, a distance of about 37 miles. Freight and Passenger trains run over its entire length & with satisfactory success. The cost of the construction of the road is estimated at $1.150.000.00 and the equipment at $225.000.00. The receipts, even now, at this slack season, not only cover all expenses -- including current construction expenses -- but actually come within a trifle of what would pay interest on the entire amount of bonds, viz:$1.000.000.00/100. These bonds are each for $1000.00 bearing gold interest of 6 pr. cent per
annum. payable semi annually at Salt Lake City.

They run for the term of 20 years, and are secured by Mortgage on the entire extent of the road, including stations, rolling-stock, and, in short, all the Company property, without stint or encumbrance. This Mortgage has been legally executed, & is stamped to the value of $1000.00. The trustees are Mess. H.S. Eldredge and A.O. Smoot, both of S.L. City.

We are indebted only to our own citizens, for the construction & equipment of this road.

As above stated, I wish to borrow $100.000.00 giving as security, these bonds at 20 per cent below par (the present rate of issue) to which I will add my personal security for payment on the interest.

This, I now respectfully offer you, in whole or in part, either for yourself or your friends who may feel disposed to make the investment, soliciting your interest & kind offices in the negotiation.

Awaiting your early reply, upon which, if favorable, I will send you an Agent who will more fully explain everything pertaining to this subject, and, I trust, entirely to your satisfaction.

I remain,
Yours with respect,
Brigham Young

The same (or nearly so) sent to Gen T.L. Kane Pa. same date.

D. McK