Wheeling Sunday register. [volume] (Wheeling, W. Va.) 1882-1934, 1883-02-25
A BAD BREAK.
A Prominent Catholic Society Col
lapses.


LAyREY,E, Mass, February 2i.-SeyeR
suits have been instituted against the An.
gustenian Society, . Roman Catholic Or
sarIzation formed here in 1870 to receive
depO.i,s OF parishOners of the church. At
tachmenrs have been issued for S2I, 900, and
more are likely to follow. The society
was formed by priests and subsequently
chartered by the Legislature, with author
ity To hold property not exceeding S2Oo,UU.
Large amounts of real estate, including
church property, have been conveyed TO
the society since 1881. When Father Re
gan took charge OF its Affairs the depoSitors
had uilCuity in securing their deposits,
and several claims have been entered
against It. 1t has been selling real estate
for seine time past and has been large
borrow rr from the banks. At meeting
of TIE deuosilUrs the latter were notified
that no n.u unry WAS left, but the society
would cndeavOr TO pay them at the rate OF
S2i, ,C.u yearly Tue indebtedness is placed
at Stuu UJO To depositors and S2OO,OOD to
NOR CIge holders.
Tie GepOsifors number I00 the majority
beiry poor female mill operatives. 1T Is
generally believed that this is the cnlmi'
nation of several years Of gradual depreci-
alton in the affairs Of the society. Father
Oponutl', one Of its first controllers, in
vested largely in railroad stocks, resulting
in heavy losses. In addition to the poorer
deuusiturs thrTe are several heavy deposits,
from $1,000 down to $500. Much excite.
ncnt exists. and a statement OF the so
ci"iy's condition will probably be made at
a meeting OF prominent Catholics Friday.
Anxious depOsitors continue to put III at
taChments.
lSosTox. February 2i.-rhe Herald says
OF the Augustinisn Society that its actual
h,r - ~ Ia
during mortgages Ia the amount OF SllO.-'
UDU. there remains due depositors S49Dl
when the society was lirst formed the
Caihul'c- began 10 deposit their savings
with Father O lLunne.i. It's death occurred
ir MI. and a deficit of Si5p,OJ Is said
to have existed then. The iu-
ir;rSl raid has always been large,
,ulinlinr or exceeding siN per cent aud a.
u r drpu.its have not generally been we'll
INFESTED the r'-SutI has been that con-
e.. rahle portion Of the deposits have been
lriG OUT ~ interest. Brt by far the great
ct ,atI.,. Is found IN The fact that IN 1872
rhr sociery then having debt OF OODO,
began a new church. adding debt Of
500. 800. and using tie moaey Of depositors
To meet this amount with the exception OF
SSI COO which WAS raised by subscri ptions.
I;I addition to the burdens enumerated
there is another OF large magnitude. For
twenty-five years the society has main.
tanned psrochial SCHOOLS at All estimated
expense OF Sl75.UOo. including $4,000 ex-
pended in rem"deiiing old churches
for school rooms. To add TO their load the
society, five or six years ago, accepted
charge OF the st. Lawrence Church and The
Church OF the immaculate Conception,
which had then a considerable debt. The
dcpUsi,ors and the public generally are
convinced that this result has come about
through bad management, and is in no
sense the result of roguery. The clergy"
men now in charge OF the institution make
q full exhibit of its condition, and admit
| the money of the depositors is gone. They
claim that by reducing expenses and
| strengthening the revenue OF the church
they can eventually pay off the debt in full,
but the question Of interest must De Tor
| some years 10 come held in abeyance.