1869 July 21 Letter to Joseph A. Young

Title

1869 July 21 Letter to Joseph A. Young

Description

The prospects of receiving compensation for the extra claims is not good. The Iron and rolling stock should be purchased from the U. P. Company and John Sharp should act exclusively with them.

Type

Correspondence

Sender

Brigham Young

Recipient

Joseph A. Young

Date

1869 July 21

Location

Salt Lake City
New York City

Number of Pages

2

Subject

Financial Matters
Business Matters
Railroad
Personal

Salt Lake City, U. T.
July 21. 1869.

Mr. Joseph A. Young.
New York City.

My dear Son

Your welcome favor of the 14th inst. has been received. I was much pleased to hear from you. I hope the illness you allude to will prove only temporary & that by a careful attention to diet you will speedily be well again

On the 19th John Sharp & T. W. Ellerbeck met Mr. Bushnell & Mr. Reed at Ogden, Mr. Bushnell read the statement of our extra claims in connection with the final estimate & remarked they would have to be submitted to the Board of Directors at Boston where Dr. Durant & Mr. Reed would be consulted with.

I feel well assured that the prospect for receiving money from the Company is very poor indeed & we have concluded that under the circumstances our best course is to purchase the Iron, Rolling Stock &c. for the Utah Central from the U. P. Company. By this means with the U. C. in a fair way of completion, the bonds could readily be hypothecated & funds procured to meet our obligation to our men on the U. P.

We thought it best to confer a separate power of attorney on some one for this purpose that the transactions might be kept distinct & so prevent the possibility of the U. P. having any recourse on the bonds of the U. C. for such materials. With this view Bro John Sharp has been empowered to go east & collect payment from the U. P. Company.

I wish you to consult together and assist each other but Bro Sharp must act exclusively with the Company. You can negotiate the bonds of the U. C. but in no way be identified with him in his transactions. He will start for the east in the morning & by consultation with him and reading his letter of instructions you will get the understanding more perfectly.

May God bless & preserve you & may you be able to perform successfully the Work in which you are engaged.

Your affectionate Father.
Brigham Young