The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1852-12-27

regulated by the requirements Of the ordinance. Of
law At this period the church indebted S3a 3S That
continued under assignees from November 1874 until the
period to which have already referred when ca
here with determination, and conscious OF my own
rights as bishop and In my Interpretation Of my duties
to break up the whole matter what should be
the consequences for IL had gone long enough had
been ndu ed TO acquesce in the arrangement a. FIRST by
the promise that during that interval inasmuch the
law had put stop to certain payments Of interest
there would be an accumulation of $4,000 or 5000
year to the benefit Of the poor creditors This recorced
me 10 it.; Jet after the four FIVE years up
found that only there accumu ,tion for the
benefit Of creditors but the church had actually ncreas-
ed s debt for the period of 1874 interest been
paid by the trustees but from that period until Novem
Der ls4e except upon the mortgage and not AL upon
that interest had been paid and yet find at this
period that the debt s35 1885, showing increase
OF deb: during those i've years Of Sl408 Upon that
occasion you will recollect invited the congrega-
ton to rally around me and see what could be
done; and Immediately after taken, by
collection BY appealing to the generous members OF
the congregation, and by every that conid be
suggested 10 get something to pay the needy
and the more numerous class Of the poor who were
lowering about and craving for the which they
had deposited, at least for part Of them
ciety formed and under the contsncy and devotion
that society guided by the zeal and nceseant watch
fupe Of the reverend pastor of the church. much has
been done since for find that within these three
years the debt has not increased but the contrary,
has been reducea TO the sum Of $40 700 o. and Of this
amount Se146 Is paid to note holders, Ia cash,
account and the balance paid to the assigpees,
the tame three yefrs in which the church has not
been under the management Of legel agents, there
have been psid for improvements and extra
penscs making in all paid within the last three
years, over and above current expenses 48 r. You
will recoect that all this has been the gratutous efforts
Of parties who had individual In contracting
the debts which have long been impending upon this
church Their moneys have been gratutous offerings to
ransom the good faith CT the Catholic church. and lat
terly there has been In addition opportunity Of dis
posing Of the interest which this church had In certain
lots In Fifeth street. between the Fourth and Fifth
must take occasion here to remark that these
lots and Others TO the extent had been originally
copjoned to the Ca hedra Of b. Peters and that prev
Gus TO the sale there was meeting Of the trustees Of the
Cathedral called 1t which present, and at which,
with the good will Of the people and in accordance with
my strong recommen dalton, 1t resolved that the
grounds belonging TO st. Peters should be bid up by
them any price whatever. not exceeding the whcls
debt upon the church why this resolution adopt
ed! 1t because they would cell for double their
value and the money to 80 to part Of the Catholic
munity, to whom 1t was honestly due. 1t was be-
cause the money with which that purchase should be
paid belonged to the Catholic community and because
the Idea q Catholic community Is that there should be
no eehehness sectaransm In their dealings whenever
their Affairs are conducted according to the principles
and the views and the salutary discipline Of their
church. BY this means the prof. erty enhanced In
value TO ut least oneourth and occasion had
II would have been to still greater amount And new
what IL the summary OF ell this, II that ron divide
the OF the debts st. PETERS church between
the security which the Law has guaranteed either In con-
sequence Of ths acts OF the trustees the duties a the
assgnsss, and the supplement which has bsen made up