The Dallas weekly herald. [volume] (Dallas, Tex.) 1873-1885, 1883-03-01
FIeeced the Faithful.

LAWRENCE, MASS, Feb. 2i.-Seven suits
were instituted against the Augustinian So
ciety, a Roman Catholic organization
formed here in 1870, to receive deposits OF
parishioners of the church. Attachments
have been issued for $2,700 More will
likely follow. The society was formed by
priests and subsequently, chartered by the
legislature, with authority to hold property
not exceeding $200,0 600. Large amounts OF
real estate, including the church property,
had been conveyed to the society since 1881,
when Father Ryan took charge of its af-
fairs. Depositors have had great difficulty
in securing deposits, and several claims
have been entered against it. 1t
has been selling real estate for
some time past and has been a large bor-
rover of money from the banks. At meet
ing Of depositors the latter notified them
that money was left, but that the society
would endeavor to pay them at the rate of
$4,000 yearly. The indebtedness is placed
at $500 600 to depostors and S2000O0 to
mortgage holders. The depositors number
700, majority being poo females, mill op-
eratives. IL is generally believed this is q
culmnai) IN of several years depreciation of
the affairs Of the society. Father O'Don-
NELL one Of its first controllers, invested
largely in railroad stocks, resulting in heavy
LOSSES, III ululllOil W Tue poorer uepOSl-
tors, there are several heavy deposits, from
Sl70O0 down to 5000. Much excitement
exists, and statment Of the socitty's condi-
ton will probably be made at a meeting
OF prominent Catholics Sunday. Anxious
depositors continue to pour in attachments.
The Herald says of the Augustinian socie-
ty that its actual debt in round numbers is
$4,000; deducting mortgages to the
amount of 5ll0, 100, there remains due de-
nnuitnrc 100 Whan ha gpniatVy IVA q
first formed the Catholics began to deposit
savings with Father O'D)nnell. His dea b
occurred in 1881, and deficit Of $50 900,
Is said to have existed then. The inteest
had always been large, equalling or exceed
ing per cent.an as deposits had not gen.
IDLY beef well iuyes0a, the result has
that considerable part oi Sle depos-
far the greatest cauce is found in the fact
that in 1872, the society then having debt
of $50, 900, IL began a new church, adding
TO the debt $500 900, and using the money
OF depositors to meet this amount, with the
exception of $4,000, raised by subscrip-
ton. In addition to the burden enumerated
there is another large magnitude. For
twenty-five years the society had main
tanned parochial schools OF an estimated
expense Of $4,000, including $4,000 ex-
pended in remodeling the old church for
school-rooms. To add to their load, the So
ciety, five or six years ago, accepted charge
of st. Lawrence church, and the church of
the Immaculate Conception, which had
once been considerably in debt Depostors
and the public generally, are convinced this
result has come about through bad man
agement, and is in no sense the result Of
roguery. Clergymen now in charge, made
a full exhibit OF the condition OF the insti-
tuition, and admit that the money NJ the
depositors is rome. They claim that by re-
ducing the exT enses and strengthening the
revenues Of the church, they can event
ually pay Off the debt in full, but the ques'
ton Of interest must for some years TO
come, be held In allegiance.