[First Presidency to Thomas Holt]
[Regarding] yours of 28th in which you state that among the debtors of the Spanish Fork company inst., which recently failed in business, are the Koyle Mining Company, and about 50 of its stockholders; that most of these people could pay their bills if they could transfer some of their mining stock, and you desire to know if we could modify our instructions so that former Bishop Koyle and associates may do this without affecting their standing in the Church .
Having learned that former Bishop Koyle and associates were claiming divine guidance in their mining operations to uncover large bodies of ore to be used for the redemption of Zion and the salvation of the dead, and that credulous church members, widows and aged people among them, were being prevailed upon to buy their worthless mining stock, we instructed President Page to see that the members of his stake responsible for such deception and fraud were tried on their fellowship in the Church. These instructions are in force and cannot be modified.
[First Presidency, Letter to Thomas M. Holt, as quoted in Minutes of the Apostles of The Church of Jesus Christ of Latter-day Saints, 1910-1951, Privately Published, Salt Lake City, Utah 2010]
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