Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1883-02-26
SUSPENSION OF A SOCIETY.
A Large Amount of MOney involved
Fourteen Attachments Put ON the
Property.

LAWRENCE, Mass Feb "A.
The Augustinian Society of the Catholic
society here has suspended aud attachments
have been placed on its property. Ii has been
the custom of the Roman Catholic priests in
the city to receive deposits from pensioners.
pay interest and assume the functions of
savings bank. This was first done by Father
O'Donnell in the early days OF the city, about
1876, and has been continued up tn the pres
ent time. The rate of interest paid has been
large. averaging six per cent and As con-
sequence the deposits have been large. Ii
has Sl00, 900 in Catholic mortgages and its
total Indebtedness is S5+o,00o. of which
$3.50. 600 is due depositors. Monday night n
meeting of the depositors was held and they
were notified that there was no money left
but that the society would endeavor TO pay
the depositors at the rate of $1,000 per
year. Suspend parocIiicai SCHOOLS ON .whp4
the expense has been so 00Uannually. Great
excitement prevails anon {he jepostors
who are principally poor hodt girls and fac
tory operatives. Ii is generally believed
thar the trouble is not of recent origin, but
has been growing slowly for wears.
each succeeding year plunging the
society deeper in debt. Ii is said
that one of the first priests in the city invest
ed funds deposited with him, in railroad stock
paving therefor $50, 900, and after holding it
for some years its value had so deprecated
that he was Obliged to dispose OF ii for ST.
900. Considerable excitement exists among
the unfortunate depositors, of whom there
are two distinct classes. One is composed
mainly Of business men, one having $4,000,
another SIS, COO, another 5000 while still an
other, a butcher in Mtthuen, has $500. A
statement of the financial condition is prom
ised in few days. and meeting of the
prominent Catholic gentlemen is called for
Sunday evening. Meanwhile, the anxious
depositors continue to pour in attachments.
Five additional attachments were placed
today on the property of the Augustinian So
ciety. making IA in all. Further investiga
ton shows that the misfortunes due
largely to the injudicious development of the
church. In the face of an Indebtedness of
$500, 600 the construction of the church OF
St. Mary was begun, costing about $500, 900
for which but $4,000 was collected.
LAWRENCE, Mass Feb. %.
The Roman Catholic churches under the
control of the Augustinian Fathers crowded
each service today. it being expected that the
priests would refer to the collapse of their
saving institution. At st. Mary's church
Rev. c. Z. McEvery OF the superior Ameri-
can branch of the Augustinian order, said he
proposed soon to give detailed statement
leave nothing undone TO meet their obliga-
tons. He considered the mortgages on the
church comparatively slight Inconvenience.
The only matter for serious consideration
interests depositors. He said the socety's
debt was between four and five hundred
thousand, but with the revenue from orders
in the three churches and two chapels in
Lawrence and Metheun, and with extraordi-
nary efforts, he hoped to meet the financial
obligations in a few years. He expressed
| the utmost confidence that the Catholics of
Lawrence would subscribe according to their
means to free the church from debt. Two
years ago he collected in New YORK, Penn
sylvania and Boston 81 900 which he applied
to decrease the debt. The society would
leave nothing undone to meet the pressing
demands and would see the immediate poor
not suffer. He urged the hearers to be lib
era and the church would pay them all
Rev. Carr of OF the Immaculate Concep-
ton told his people that the society would
not repudiate its debts, but pay dollar for
for dollar. Have patience and contribute as
| Catholics and they will get their money in a
short time.
Rev. Ryan of the st. Lawrence church
gave the same advice. The debt was not in
Cured by the present heads of parishes, but
| responsibilities will be met.
Prominent Roman Catholics met privately
| tonight to consider the best means to extri-
cate the church from debt At a late hour
it was decided to appoint committee OF Is
to have full control of the finances and reve-
nues of all churches in the city except St.
Patrick's. A subscription paper has been
started and $4,000 subscribed at the meeting.
A subscription will be canvassed for and a
| large fair held. The committee assumes the
duties only with the understanding that de-
positors in the saving institution will not
force the Augustinian Society into insolven-
cy. st. Mary's parochal school will be
| closed, saving 5000 annually las this will put
l200 more children in the public schools. 1t is
understood an effort will be made to induce
the city government to rent St. Mary's
school buildings and employ the sisters of
charity to conduct them.