Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1876-04-14

Five wears ago there was not man in TIL,
city whose credit or condition was better
than Patrick Donoh0e's He was then the
owner OF magnificent granite block on
Franklin street be was the proprietor Of a
paper whose income was not les than : 10 =
900 year, and q book trade from which he
derived profits not much below that figure.
Tie was the agent. for the Irish people. Of
Two or three lines OF steamers. and nezo-
tiaied foreign exchange, drafts. and passage
fares TO and from Ireland. which swellei
the profits Of hi business 10 nearly $780,
900 year. lie established the Enicrant
Savings Bank, became IL president. and
gave 1t whatever of confidence il Possessed
Is safe repository f5r the earning, Of the
| poor Of his race. Through his influence and
exertion magnificent orphan asylum was
built, and there the destitute children Of the
/ Catholic people Of Boston were cared for and
educated. In a word. Patrick Douohoe was
the apostle Of the IRISH people Of America
| Today hi creditors are offered twenty cents
on the dollar for their money. and Patrick
/ Donohoe l. almost a. bankrupt in fame g. he
| i IN name. His debts amount T. over th-ee
hcnlred thousand dollars. and bis business
/ i superintendei By sheriff.
! The causes are many but they al centre in
/ one - carelessness and want Of method
While Prosperity lavished her favors on
/ Patrick Donohoe, be had little else 10 30 than
l ~ II his othce and count his money but
when adversely put in an appearance. when
shrewd and careful faanciering was de-
manded, then he was found wanting. The
first blow he received from the great fire
Of lo72. His elegant bushes, e.tab-
Ilshment was laid in ruins. hi.
presses, plates. and other machinery were
melted into shapeless masses. and HI. stock
OF publications fed the flames until not
dollars worth Of paper remained whole.
4 ieT weeks later he was burned out again.
he having IN the meantime fitted up a tenn
porary office IN the block Of Rand. Avery IL
Co, printers, and the third time in Wash
ington street, in the fire Of Nav. 1873. But
after all these reverses tie Catholic ueoule
OF the country came TO his rescue they
subscribed for the Pilot for five. ten. and
fifteen years. and money came in more
freely than before lie built handsome
block on B1ylstOn street, and there the ueo-
pie believed be was again firmly established
About two years ago Mr.. D0nohoe called
a meeting Of his largest creditors and asked
for an extension. 1t was granted Soon
alter he opened private clearinghouse |
IN opposition to the Emigranr savings |
Bank, which he had founded. s. far a. | /
can ind on strict inquiry he had no license |
ana no legal authority Tor this proceeding.
The public knew nothing Of the new bank /
lng-house there was no advertisement, but I
the business was quietly transacted. | en-
not ind out what the rate of interest WAS
or whether there was anv. or whether the
institution was to be of the nature of n bank
or deposit vault. But the money came If.
1t came from the poor Irish people Of the
country IN sums ranging from S25 to 81 900.
II was lett with him for saie-keeuing. and.
his integrity being of such 4 high order
there was DO fear. To-day the total amount
OF such deposits appears on the published
list at the enormous figure Of SO 900
and on this dividend or compromise Is Of
Tered at the rate Of 20 per cent Among
the number Of victims are charitable in.tj.u-
tons, converts, lahnrers. servants. washer
women, mechanics. and all grades Of the
hard working unfortunate Irish Immigrants
This money was inve-ted as soon A. received
not for the benefit OF the depositors. but for
the benefit OF the Gu todian Ii was used To
paw the enormous interest account which
had accumulated On loans. mortgages. and ;
securities of various kinds And fiat any
lime run had been started, even on half
ne sum total of this account. it would have
,l0sed the establishment.
Besides these cred tors on personal grounds
here are Others. Hon VI. j Flatley. a :
prominent IRISH poll ieian. member of the :
state Senate. appear ON the lit with the '
UNI OF $4,000, cast loaned. opposite his 2
lame. OF this amoGnt he will receive S3- 9
100. There are als1 two estates of which n
lr. DOnOhOe was trustee in the interest Of b
he heirs, TOR sums, ! think. amounting tc t
bout twelve thousand dollars. and they b
lust take their chances large number {
| Catholic c!ergymen who intrusted him b
nth various sums of money, either their 0
wn or trust funds, will suffer in the rem u
raj ruin. | cannot imagine anything more :. 4
lstrcssIng than the list of creditors which =
as been issued by the Register Patrick
!urphy, $50; Bridget Flanagan. SIS;
larry Mullignn, Slc0, and so on Inmauv
'ses the sums represent the earnings of :.
ears, and IN this time of depressed labor -
le blow falls with accumulated force. IN
That there was m dishonesty, no inten- cl
on to defraud or misappropriate a single pl
'llar. not man il Boston doubts. PAT "a
ok DOnohoe has the reputation TODAY
18th this unfavorable showing. of being an
NEST man As proof of this, may cite I I
fact that out of all his fortune be has
L set by dollar for his own use or that of
5 family. nc nc