[Francis M. Lyman]
It was unanimously decided that we should all use all our influence to have all our people work to secure statehood ...
After meeting Pres[ident] [George Q.] Cannon laid before Pres[ident] Jos[eph] F. Smith, John Henry [Smith] and me the condition of Cannon, Grant & Co[mpany]. Every dollar we invested is swept away and we are left pennyless. Bro[ther] Jos[eph] F. and I put in $25,000 each Pres[ident] Cannon $100,000; bro[ther] [Heber J.] Grant $95,000; John Henry $25,000. It may require even more than our capital to square our obligations. That puts every member of Cannon, Grant & Co[mpany]. flat on their backs financially.
[Francis M. Lyman Diary, 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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