The Brigham Young Center

Joseph A. Young, Esqr.

My dear Son;

Yours of the 1st inst. was duly received, and its contents noted. You state that you are in receipt of a communication from Capt. J.H. Selwyn, inquiring whether in your opinion, there exists in Utah Territory, any demand for considerable sums of money by way of loans on Railways or other property, and if so, on what terms such sums could be loaned, as to interest and security.

 

We have been engaging money from parties in the east to aid in the construction and equipment of the Utah Southern Railroad, giving to those parties one third of the Stock, free from assesment, in consideration of their furnishing the iron and rolling stock, for which they are paid in bonds at eighty per cent. bearing interest at the rate of seven per cent. per annum, U.S. currency, payable semi-annually. 11`In the event of requiring aid from other parties, which is by no means improbable, and will be determined at an early day, we would be willing to engage with others on the same terms. Or, we will borrow money at reasonable rates, using as collateral our railroad securities, which as you are aware have an excellent reputation, being freer from incumbrance than any other railroad, in the United States, so far as our knowledge extends.

 

Your Affecionate Father
Brigham Young