The sun. [volume] (New York [N.Y.]) 1833-1916, 1879-01-20
SECURING FULL PAYMENT.
ARCHBFsHOP PURCELL RELTETED or
IININCIIL DISTRESS

Church Property TO the = mount of 81 .OGO.OOO
Given ~ security tor bts trdrht"dness Of
SGOO.O 900 Hunds to he Issued by Trustees.
C1SClNNATf Jan. ia plan has been
agreed upon NV Archbishop Purcell and his nd
Nscrs ly which Ac viii he released " his nnan-
cial distress. Il is that lnr;c portion OF tho
real csiHtc OF the diocese. consisting Of ~.
Ptcr's Cathedral. st. JOS pl's Seminary. the
Orphan hsl um at Oumminsvilc. valuable
property On PRICES Hin the Cathedral school
house. the Old ST. Johns Ilo,pltU. together with
largo amount of personal securities. notes
mortgages. aud accounts WI he turned over
to-morrpWto Fathers ON uu Of the Cathedral
J. G. Alhrnck of Holy Trinity Church. Chas
Stewart Joseph T. Rogers and Joseph Grover
who will constitute board of trustees who will
hereafter manage all the financial affairs OF the
diocese
Tho trustees have made nprotty thorough cx-
animation Of the finances Of the diocese. and
they have nsccrtaincd that the HAL ilhics OF the
Archbishop in round numbers nrc about
tG0D.O0l Thcvnucof thcrfoprrty to bcturncd
over to the trus;r,s is fully 81 OODOOO. There
Is vast amount Of real estate that IL not
diocesan that Is the property OF the Arch
bishop. and this too. will be placed In the
hands OF tho trustees. who will prob
nny dispose Of u from time TO time
whenever invornhl" opportunity presents In
addition TO this. every rhurh md building of
any dies 'riution owned hy tNc CHURCH will Zoe
n"r,es,i, ~ 'o ~" MIN irWst..s INV" d,t,r.
niuri O.. ISSUE bonds tothc amount ~ the in
iime nfiori hrc" yonr. ana within tw'1 Tn"y
viii hrai nv,' rcr ,.ni. int,r..t and thc rr1p.
10 ih.ir ~, i"mrtT,n T'n- B. urrd if h ~
pccted That ne rr.nt hulk of t.U-c who have
monoy q, nos 'fci will fhr Ar.fh-lot yvil sub
scribe f'r th,m o. hra,nount of thoir deposits.
The payment Of IN" interest Of th,a" bonds VIII
be- pro,ilri for ONT of "a rtrI tNpt will lr Gro.
ntol ui.i OF 'ie r,vruuraf E. I.-.ph Cemetery.
and % moderate TINS will hr JOS. .d ON each of the
fhgr.h d. ihr i",'. "a inN Wnich tnc Areh.
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