The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1879-03-04
Archbishop Pureell's AaaIrs.

Trustees who are striving might and mai
to discover the full amount Of his liabil
ties, can form any estimate. Father Pu
cell, who has charge OF the banking bus
ness otthe diocese, fancied when the fin
shock came that $4,000 would see tn
Archbishop easily through the troubl
which threatened. When that sum ha
been swallowed, his Imagination multipli
cd 1t by ten, but already both the Catholi
and lay newspapers OF Cincinnati an
nounce that the lowest figure possible a
present will bo SG,OOO,OOO. This enor
nous sum of money has slipped out o
tho Archblshop's fingers in tho course o
his archieplscopal experience, leaving bu
few traces In the way OF notes, one o.
two memoranda, and a tangled skien o
recOllections in the good old gentleman,
brain. Securities which lay on hi
hands for some time, until in hii
opinion they became worthless, have beer
calmly burned up or thrown away al
waste paper, and no pretense Of keeping
books has been made. The Archbishop
himself, with mind steadily fixed upon
spiritual things, has poured out money in
trusted to him with allth childlike ihnoc
ence OF an ideal pastor, who knew the dit
ference between the figures on bill OF 5;
ind another OF $500, but living on the
smallest possible income, say $500 year
attached no earthly significance 10 the
multiplication table. He has literally
given away large sums OF other people's
money 10 starving or needy individuals
has built the Cathedral and helped Ia
erect churches or sustain tottering enter.
prises with any money that happened "a
be on hand, without for an instant think,
ing about where 1t came from, or weigh.
ing the chances Of its ever being paid back.
He made an occasional memorandum oi
these transactions, but mainly carried
them in his head, until It became SO
crowded with them that he turned the
conduct OF affairs over to his brother, in
the innocent belief that there was a
linancier indeed. But the brother seems
to have been as much as child in bust
ness as the Archbishop.
How these liabilities came about needs
some explanation, and our esteemed con.
temporary, the Sun, is the first newspaper
which has given a clear and concise nc.
count OF 1t. This We Condense. The Arch.
bishop was ordained a priest in France, in
1916. A year later he was appointed Pro.
lessor OF Philosophy at st. Mary's College,
Emmetsburg, Md, and the next year,
President. In 1893 he was made Bishop Of
Cincinnati, whose diocese included but
five Catholic Churches. Personally he
lived the life Of an anchorite, aud has
always done so. Indeed, he has subsisted
upon an income which laboring man
would sneer at. In 1888 his youngerbroth-
or, Edward Purcell, was ordained, and be-
came his Secretary. In 1850 Bishop Pur.
cell was again digniGed by being made an
Archbishop. His labors in bis dioceses,
which warranted this elevation, were
almost incredible. The Church grew in
power and influence, for he concentrated
all his energies upon its editication and in
crease, and the Catholics of tho city,
whose numbers swelled with the tide OF
immigration, looked upon him with a
reverence and affection which his
purity, earnestness and amiability fully
warranted. In the hearts OF his people
80 was enshrined as an almost snperhu-
man being a personal friend and guardian.
About this time the financial affairs Of the
country were in rather precarious con-
ditions, and the poorer Catholics OF Gin.
cinnati naturally turned 10 this venerable
friend aS an infallible custodian OF their
little savings. They deposited their sur
plus earnings with him, and were allowed
first four and then six per cent interest.
1t was all done in perfectly unproieSSlon.
al and unbusiness-like way. Money was
deposited and the interest account grew.
No books were kept, but few memoranda
were made, Of either deposits or invest
ments, but childish confidence in the
worldly wisdom OF the Archbishop so
strengthened him that the amateur Gank-
ing system which both he and his brother
conducted did not even shiyer in the
storm Of 1857, which utterly destroyed so
many magnificent and well ordered finan-
cial concerns. Through this storm the
Archbishop continually Gamp TO the assist
anco Of sinking banks, tilling leaks and
keeping them temporarily atloat with
the money OF depOsiton, who never
thought OF drawing out the cash left with
him for safe keeping. Meantime deposits
came rolling in; interest began TO COM
pound, and then FathOr Purcell, who had
become the sole manager OF the concern,
tried TO straighten ont Its atiairs, but there
WIS no pressure, aud certainly no nearer
approach to business management. In
1875 dry goods firm OF New York and
Louisville failed, owing Father Purcell's
amateur savings institution $4,000; SiO,-
900 more were sunk in aiding some pri-
vate enterprise, and a. numbers OF
churches had been drawing upon the
bank, as countless poor had boon assisted,
rs the Cathedral and many other great
buildings had been erected out oi the
treasury, as unestimated numbers Of per-
sons had borrowed money without leav-
ing either security or even memoran.
dunn, these loSsOs rather startled the good
Father, Gradually the Catholics Of Gin
cinnati began To withdraw their deposits,
and this went on from january to OOto-
ber OF last year, when one banking house
went dowi for 1886, 900, followed by an
other with liabilities Of seven hundred and
forty thousand dollars, and some malicious
person spread tbs TlmOr that both in
situations were backed by the Archbishop.
Asa matter OF fact they were not, but the
deposItors BECAME alarmed in earnest and
a run began. Spah thing had never for
a moment been contemplated by the I'm.
worldly men OF the arohiepisO6pal rssl'
dence, but they soon found themselves
confronted with a clamor for money, with.
out dollar in the treasury to meet 1t,
The poor priests emptied their tiny saw
ings Into the strong box. They were swal;
lowed up In halt an hour. Loans and
donations poured In from O. SIDES sent by
people who had no idea OF the extent Ct
Inc Indebtedness, and who thought that
$4,000 would meet the demand. II was
ali In vain. In November the poor Arch.
bishop, fancying himself sinner aboyeall
men, sout his resignation to Rome; 1t has
not been noticed d all, reports to tho con.
trary Notwithstanding, An 9tteWpt was
made to raise 100000 by the issue 9l
bonds, hut no sooner were the bonds
printed than it was discovered that the
sum represented but a quarter ofthe whole
debt. Then the Archbishop turned the