The daily exchange. [volume] (Baltimore, Md.) 1858-1861, 1859-04-05
From the NeuC York Tribune
BANKRUPTCY OF TRINITY
CHTTRCH

"-'1D D-a anhit = Ibl Of TRINITY
CHURCH.
report ofthe Committee ofthe Vestry of Trini-
" church, on tb1 condition of their finances pub-
nshed IN The CharchmaR, presents the views enter
eahGu . oy tnat BODY upon question which has ex-
eited good deal of public interest According ia
ths report Trinity Church. instead of POSSESSING
t tnat endless and boundless wealth which some both
irlens ana foes, seem to imagine, is in fact at this
donl.oi penuliS lar beyond its means, and is un-
uetgolhS rapidly consumptive process which If
reduce it to poverty. H-"S' 'Peou''
DeanGting church edifces, graveyards, cemete-
RES, ana all property neither Welding nov, nnr
likely to yield any revenue also tho cbnnrob ;5e
nite and contingent interest in ST. Johns PEI
the Whoie property of the church consists of SEQ
hundred and eighty-nine city lots and S9O- eco 3:
ponds and mortgages. The lots, includino twon+u
SIX since sold We're estimated in 1856 under an n
Vestgaton ordered by the State Senate, as of tbn
value OF So lOS, $50. But this was an estimate Of
ene NalGe oi the ots II they could then have been
sDlu ana immediate possession given whereas most
VI them are covered by leases having lonp terms m
run, and nearly half Of them contain covenants of
renewal, so that this estimate could not be regard
ed as at all representing, even if not otherviss
aggerated, the present actual yalue or tbo ,rro,,
", making the necessary allowances on this score
and taking the above valuation as otherwise COW
ane 'o!al value OF the property including the
contingent interest in st. Johns Park was asti
mated by one OF the Finance Committee of the Yes
Try, after deducting the debt at 50 S5G. .236
ms us aeht amounted, April 3O 1858, to S7O9 938.
tb H. W. W. no."Itnstandmg resolution adopted by
the Yestry in 1851, that in no event shonid II ~
increased beyond the sum of $500 O0O ovnr ond
aooVe thG ponds and mortgages held by the corno-
| rauon. 1t appears to have been tbouTht nv mem
.. tne Nestry that permanent debt to con-
siderable amount was advisable as a matter of
pohcy, that 1T would afford satisfactory pround
Ior refusing importunate applications for assistance
ohiao E .ne property of the corporation less an
oDIgcC OF cupldity from without. But according
10 tue report, the debt has failed as measure of
restraint IN both respects 'The debt has naver
@ neen so large as during the past two wears, and
there never has beena period in the bistorv of tb
corporation when applications for external aid was
ser SO numerous and pressing, or when ATTEMPTS So
h nerce @ and persevering have been made to desnoi
| the Church of its property" Po'i
:. Inc Ghurch 1t seems has for some time mast baen
nVng the life of aprodigal, for outrunnipp its in
o9ne' g' ana only meeting its annual expenditure bv
aung 10 lts debt or appropriating to that nurnose
sb oi property sold thus permanently di
nilishln@ IL resources. The receipts for the wear
ending April 80, 1857, (deductinr monnv borrcad
anu anu receipts from bonds and lands soldI ware
SiVz' z94, and for the year ending April 81. 1879
9llo'o4o: For the year ending April so, 1853, they
were were estimated, including certain arrears at Si1s
QUO QUO and Tor the year to follow are estimated a.
9llo,o0O. The expenditures for the wear endina
april 81, 1898, amounted to S2O6 928 OF this su,3
~ ~Sto ~lo- were Pald on account of loans donations,
allowances and interest for other parishes and insti
tuti0ns Even apart from these extra parochiaI ey-
pehdltures, the disbursements amounted to Sl59 7G5
or about $4,000 more than the incomo
far .S corporation. The expenditures
aC ol'9,oS0, or including $4,000 for do
nations to other parishes, at Sl99O OSO This ex
cess OF expenditure over income has arisen from the
1sloh eJJ:h VI FellgiouS services Of the parish by
aGding to the number Of the clergy and tLa amonnt
OF ITS missionary work from donations to otbar
RRrlshes ana the increase of interest on the debt
a nno lo4e 70 1921 the annual deficit ranged from
SSOOO to S24,O In 1885, the deficit ba3 swnlan
to S84 ,4O5, and is estimated for the current ro ~
Si3,i2l without an immediate and comniote
change OF policy" say the Committee at will
spon become question whether, after paving
! tain the parish" ''' ~ SU'-
In the ordinary and fixed expenditures the Com.
mlttee 90 not see that there is much room for re-
trenchment. The allowances to the CLERGY cons;d-
ering the services they perform are moJorata
ana Such IS the case with the other officers Econ
omles should be sought out in that direction bnt
as TO the matter of donations, thev must ston at
once, unless in cases where some sort of a Md
exists Tor their continuance. Consderinp fiat
TRINITY Church bas already given away two hun
pred lots, of the value at present of not loss Than
million and half of dollars, and that she has, be-
SIDES, given away in money 81, 600 600 of which a
large part is represented by her present debt sha
cannot be expected to go on giving further till She
snail have placed herself in n safe nosIion
now impossible 1t is to meet all the calls for aid is
evident from the fact that there are now pendino
before the Nestry applications for money from other
parishes to the amount of Sl30 900 Not only will
u be necessary to refuse these, but Others slso
all the
OF TINS sort possible, still the expenditure will ey
ceed the income until an increase in the income
by an increase of rents the leases fall in and by
selling property and investing the proceeds at in
tefeSt, may at length create balance of income
AS things now are, the Committee are fully of
opinion that the pecuniary affairs of bn cornora
"uon are in imminent peril and that the most
dlsaStrous consequences only be averted by a
PROMPT ana radical change" in the policy of the
last ten years.
L.,
Report of the British Consul at [loiIo Tsland nj
fanay, one OF the Philippines) the following re-
marks on the character of foreign goods wanted for
domestic consumptiOn:
The Chinese dealers at Molo, and a few small
traders at Iloilo, have commenced oneninG rorrno
ieht shops ana, 1t Is probable that the number f
these Will gradually extend throughout the nroy
tnouSh as the fars are also the central point
OF attraction for all the products within certain
radius OF each ''pueblo,' and thus bring together a
large concourSe of people, the weekly transfer nf
piece and other goods from one place TO another
sun continue to great extent. There are about
thlrty Chlnese permanently established at Molo
(mostly connected with others at Manila either a.
agents or partners) and two or three at Iaro 4
certain number are also employed in vovaqinp to
rb;oh TIi iro from Mania with goods after realizing
Whlcl, they return for fresh parcel either akinfr
tne returns IN money or produce. One Of the Chi
Rese dealers at Molo, who is well suppIied fron
,n nn goods to the amount of 30 600 dollars to
lV,VOo dollars per annum. Owinp howavar to too
much competition amongst themselves and tbo
other dealers, do not, Judging from the prices at
wlcn they usually sell, think that their profits are
in general, at all large. -
The principal articles of foreign manuractpro i'm,
ported into the province of Panay, are:
Handkerchiets-Printed,o Of bright attractive col
ors ana good designs, large consumption, at rates
varying from SOC. to Sl.50 per dozen. Handker-
chlets-W owe, plain and fancy checks are in demand
at 81 to per doz. for fair to fine qualities. Hand
checks, dark grounds, with mix
ca SILK, at $40 to II per dozen. Handkerchief
Salp1bin n son a1to, 60 q
pleoe, according to quality. Wove and printed
Irouserings are saleable to considerable extent
out general y at rather cheap prices, ranging from
ia to l2%c. per yard. Ginghams chiefly small
narrow checks, blue and red are largely used for
shirts, at from S412 to 81 per piece OF "a wards.
fancy Cambayas. of mixed cotton and silk with
Sold threads are also in large demand at from 500
70 100 per Gorge of 90 pieces Plain Grandrils are
1t ready sale at S5 to 525 per 40 wards. White
ohlrtngs are not IN very extensive demand, their
use being lnterfered with by the natives fabrics
ar quantity is however disposed of at 10 to %
eals per piece OF 40 yards, 3613 inches wide Grey
'mrtlngs and Grey Long Cloths and domestics are
n no d mand as imported from Great Britain and
ne United States, but the same goods purchased
md dyed at Manila by Chinese dealers are larrely
sed by the laboring population. Grey Twills, 80
nch-Both American and English (former prefer
ed are largely consumed for sails OF boats; shirts
sc' at - y per 40 yards for English, and S355 to
Il per 4O yards for Americans; Lawns, u wards AZ
nches, are usually saeabe at 10 reals for coarse,
- per piece for finer qualities. White .Iaconets
U inches 20 yards, are in moderate enquiry at 8
eais to 81 per piece for low to fair assortments,
nd SIS to ; for fine. Striped Muslins, 10 wards
initiating ''Snamay," have been imported to some
xtent, and sold at 81 to So reals per piece-rates
'hlch will scarcely encourage future sendinrs
jotton thread-The finer Nos. 240 to 800 are large
y saeabe at S24 to 2-5 and 2-61% per h. Cotton
'arongs are also in considerable demand, but have
o be sold cheaply to compete with the native made
oods of similar description; price about S5]6 per
orge of inferior, and Sll for good quality Cotton
wist or Yarn-T. r., Nos 40 to so, is sold in con-
derable quantity; price usually $50 to 95 for Ger
ian, and S75 to SIS for British dye per picul Wool
rs are not in much demand. limited amount of
oburgs, Orleans and Lastings are disposed of at
} 4 reals per yard, according to quality
There is also demand for Hardware, Glassware
nd Earthenware, and other minor articles which
will not particularize here to avoid troubling YOU
18th too many details. The demand for piece goods
most active in March, before the occurrence Of
lie Holy Week, and in November
The LED RIVER TRAIL.-The old ira il long tray
sed by the Pembina traders is soon to be obliter-
ed by the march of Improvement which has al
ady made its advances far into the wild regions
the Northern attudes
The people of Minnesota are making active nra
Irations to open the route through the Red River
lley to the travelling public at the earliest posi-
e day. The machinery of the steamboat designed
ply upon the river has already arrived at its
stination, and it is thought the boat will be ready
commence her trips by the first of Nav, Con-
acts have been made for a regular line of STAGES
connect steamboat navigation on the Mississinni
ST. Cloud, with the boat on the Red River and