The sun. [volume] (New York [N.Y.]) 1833-1916, 1879-03-16
ARCHBISHOP PURCELL,s DEBTS
The Report Of the Tru.tees-The Amount
Fixed Mt RJ.s7A,3 71.57.

CINCINNATI, March 15.-The long prom
ised report Of the trustees appointed by Arch
bishop Purcell to investigate the condition OF
his financial affairs and to settle his debts. II
possible, wns made public this evening. 1t is
as follows:
On the Doth dav Of January. 1870. the under
signed, diocesan trustees. alter being duly or
Ing the debts Of the Most Rev Archbishop Pur-
cell and his Very Rev Brother. Father Edward.
When they assumed this r"suonsibln duty. they
did with IN" uu '"rsiahu nS tla. ~ ~ lH,'l-
itirs Md not exceed the sum ~ $500 600. lm-
medlmriy upon nnving received thr deed of
trust and tho bombs of thr vulue ~ tinOOO se-
cured thereby, they op'ned IN oln'r 80 ,thc
building on the c,rn"r OF F'nh aud Main
streets. and Eutiilcl the creditors u present
their Claims within thirty DAYS from Jan. %.
while competent clerks were hu~ily engaged in
auditing the claims and opening regular BOOKS
OF account the trustees rndeavorrd to obtain
correct KNOWLEDGE OF the Vulue ul the assets in
trusted to them Tor The benefit q the creditors
1.-THE Archbishop. The result 81 the six weeks
Hssiduous lahprs oi the trustees may be sum
mod NJ in the following statement:
They hnyo asccriaincd that 3iS5 creditors
s9G7237l.5i. Besides thus. the Very Roy.
Ilwnrd Purrcl Owes to divers banks the sum
ties the sum Of ss5.OOg. which is secured Icy
mort cages on reul estate. making the sum total
Of n LIABILITIES huown to NE. trustees
Edward Purcell consist IN pnrt Of divers pieces
Of real cstai" on which the trustees had iixe,l no
value. As the aSSlEitlDlt fiiS siltH aiken lnta9
out Of the hands nt tie trustees tle ruGllf mas
already Hll the information. Besides the real
estate, the trustees found moi ui hand ana
open accounts to the nominal Nnlu' OF Sl94.uuO.
II was utterly imIo-slblo u Us rftain all the
costs aud claims vt Father Purcell. but the trus-
toes consider il very probable that many valua-
bio ones vii. Yet b1 discovered.
In endcnvnring 10 ascertain the disposition OF
this immense amount ot money tho trustees are
utterly at a loss. ~ WIS impossible Tor them To
ascertain what fum VIA spent on the Cathedral,
stminnry, qnd orphan asylum, though these
sums must have been considerable. The trus-
tees ure adv sod that three churches OF the do
ceso Hre irdrbfcd tn Father Purcell 10 the
amount Of t2i 900. As the system OF receiving
deposits has hrcn going on for nearly forty
years. and ns Father Purcell has always been
paying heavy interest without receiving much
in return. rs the accrued interest was in many
cusas annually drawn aud added the capital.
this compound Interest has IN many cases pN-
ceeded the original investment. In the absence
Of regular accounts il is impossible to give an
exact statement OF the amount OF money paid as
interest
In all our Investigations we have found no
reason 10 suspect any dishonesty on the part of
Father Purcell but We do find. in addition 10
the large amount paid as interest that bad in-
vestnents. shrinkago in value. mis- placed con-
fdencn and unbuslness-likc management are
the cnuscs of the sad calamity which W. most
deavored TO remedy. We must now call upon
the generosity Of tho clergy and lalty Of the
Diocese OF Cincinnati and tue country at large
- rIovidssneanS for ~ relief Of the sunrrings
Of the many poor who have been thus deprived
OF their support IN their Old age and in the time
OF need.
In conclusion we feel indebted to the press Of
Cincinnati Tor their courtesy Ia treating this
most deporable chapter in the otherwisr fair
All 81 which j. respectfully submitted.
j. ". RoGgRs. II. =. QUISN,
CHAS. STEWART i. A. GRLyEB.
T. &. ALBk1NCK,
Tho remaining trustee Is absent from the
city. which accounts for the absence Of his name
from tue document