The New York herald., 1879-03-06
Archbishop Purcelrs Liabilities Over
Four Million Dollars.
AN ASSIGNMENT MADE.
What PreIates, Priests and Laymen Say
About Helping Him.
WILL THE CHURCHES BE SEIZED
[BY TELEGRAPH TO THE HERALD.1
CIScINNATI, March 3. 1873

lBf TELEGhAPH TO THE HERALD.
CIScINNATI, March .. 1879.
The financial embarrassments of Archbishop Pur-
cell were brought to crisis to-day by formal
sgnment of all his property. except the Catholic
churches and the lots they stand upon the title
of which is vested in his name. and the
Archbishop's residence to John B. Mannix as an
assignee for the benefit of the Archbishops creditors
The form of transfer first deed signed by the
Archbishop to his brother Edward, which was signed
last night and filed in the County Recorders Office
this morning, and then the assignment of all the
property conveyed by Father Edward to the as
sgnee by the following deed of assignment
THE ASSIGNMENT.
Know all men by these presents that I, Edward
Purcell of the city OF Cincinnati, Hamilton county
Mannix. of the place. the receipt whereof is
hereby acknowledged, and of the lses purposes and
trusts hereafter mentioned. do hereby bargain, SELL
assgn transfer and set over to the said John H Nan
Mix his heirs and assigns all my goods chatcls and
effects, all amounts. debts and demands due owing
belonging to me. all securities for said
amounts. debts and demands. and all and singular
the personal property and real estate owned by me-
of all and every description, whatever and wherever
situated. to have and to hold the same with the APP
purtcnances, to the said John Il. Mannix, his heirs
executors, administrators and assigns forever-n
trust NEUTRALITY-SUSPICIOUS. the equal benefit each md
an OF my creditors, and to be administered
for their benefit :, under and in pnr-
State of Ohio, and in furtherance OF the premises
do hereby make constitute and appoint the said John
with full power and authority to do all acts and
things which may DE necessary in the premises, and
to the full execution of said trust and the prr
pose aforesaid, to ask. demand. and receive
of and from all and and persons all the
property debts and demands due and owing to me,
and to give good and valid receipts. acquittances
and discharges for the same and in default
of delivery or payment on the premises to sue. pros
ecute implead for the same, also for the purpose
aforesaid or any part thereof. to constitute and ap-
point one more attorneys under him, we'll as to
make their authority to execute, acknowledge and
deliver all necessary deeds and other instruments of
conveyance hereby ratifyIng and confirming what
said John b. Mannix may lawfully do in the
premises. In witness whereof have hereunto set
my hand and seal. this fourth day of March. A. D..
Signed sealed, acknowledged and delivered in the
presence of Otway J. Cosgrove and J. F. Callahan.
THE TRUST ACCEPTED.
hereby accept the above trust.
JOHN D. MANNIx.
MARCH 4, 1879.
THE PROPERTY TRANSFERRED.
The following is a list of the realty transferred
under the above deed of assignment
vacant lot Central avenue and Eighth street
90 by 10. feet adjoining the Archbshops residence
lot corner Third and Plum streets, $50 by 1856
feet. known as the Old St Johns Hospitai LOT !.
the st. Marys Seminary property, ten acres, lying
on the western side OF the city the Copsdne tract
of seventy lying west of the city; tract of
ten adjoining the Consdine tatc and contain
ing the seminary; four and sx-tenths land
on Mount Harrison the Cathedral schoolhouso and
lot, corner OF Mound and Elizabeth streets; lot at
the corner of Park and Broad Streets 81 by 30 feet
VALUATION
The valuation placed all this property is only
about s7o0OOO. and Of it is mortgagcd for half
Of its value The mortgages and accrued interest
amount to s2OO00O it is safe say that the
property is to-day worth not exceeding S5OOOOO.
The other property transferred consists OF notes
and mortgages; its inventory has not yet been
given, and the assignee when called upon tonight
was unable or unwilling to give the amount. 1t has
been claimed, though all along that they would foot
up from s25O.O00 to 100000.
LIABILITIES FOUR MILLIONS
The amount Of liabilities, as reported to the old
trustees. whose trust expires with the assignment
and adding the suits which have been brought in
court, amount to s4,052,000. Other claims may
yet be outstanding. but estimate can be made of
their amount, as the holders havo not fled them
and what few account books Father Edward Purcell
kept practically vaueless. The reconveyance OF
the property by the trustees accomplished to-
day without any trouble They had held tho real
estate by mortgage, which intended to serve as
basis for issuing bonds upon thus making them the
trustees for the bondholders and mortgagee to tho
Archbishop. but inasmuch as none of the proposed
bonds had been issued oil that they had to do was
to release their truseeship and cancel the mortgage
and this done this afternoon though the records
at the Court House show that il not done until
several hours after the deed of assignment been
made.
MIR. MANSTx A SURPRISE.
The assignee, Mr.. John B. Mannix is a young law
yer OF good standing and fair practice but his ap-
pointmcnt was a surprise to nearly everybody 1t
had been supposed that the duty devolvc upon
some business man with long experience In manag-
ing commercial affairs. The amount of his bond is
to be determined by tho Judge of the Probate Court
and he had not decided upon IL up to the time Of
closing his court this afternoon 1t will probably bo
not less than s50O.OoO.
CLERaY's APPEAL.
Father Quinn said o-night to your correspondents:
''we have prepared circular letter upon the very
plan suggested in the HERALD presenting our case
to the Church at large in the United States, and
asking that they do what they to release us from
our load of debt. This will be sent TO every priest
and bishop in the United States. We have besides
this addressed all the archbishops and have already
begun to receive replies of the most gratifying
character"
CARDINAL M'cLosKEY's REPLY.
"what was the Cardinals rcply?"
'Ic addressed the Archbishop feeling letter full
of kind Wishes and told him that as soon az Faster
had passed New York would DO open to him. and no
would find q hearty response to his request. This
was the substance Of his note. Its language am
not able to give.''
''Thcn you expect general response from all over
che country?"
Eyes. we feel to-day as though a heavy load was
taken from us. The responses from friends are
very gratifying"
INFORMAL DISBURSEMENT
"There IN q rumor on the street, Father Quinn,
that You paid out some money to-day to the people
about the Archbishop's residence"
THAT In true; our congregation n St. Xavier raised
something over $1,000 for the Archbishop. which
was put in my hands. Some of friends told
that II was liable to be attached by tho parties
who had entered suit in the court. so thought 1
was doing my duty among tho class of his debtors
who needed the money by giving 10 out 90 them
rather than have It taken from me by order of the
Court. gave 10 out in small sums not more than
IS to any one person, and only TO those who were
really needy.
LAWYERS OPINION.
Tho HERALD correspondent this evening infer.
viewed one of the leading lawyers of this cty
Catholic rs to the legal aspects Of tho case whether
certain Of the Church property can be sold 70 nav
these debts. Speaking Of this property he said -