Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-02-26
TIE LAWRENCE SMASH.

THE LAWRENCE SMASH.
Explanations of the Priests as to the Cause
of the Savings Bank gailNre-A Promise
that the Liabilities VIII be Paid, Dollar
for Dollar.
LAWRENCE, Mass, Feb. 25.-The Roman
Catholic churches under control of the
Augustinian fathers were crowded at each
service to-day. It was expected the priests
would refer to the collapse of their savings
institution. At st. Mary's church Rev. c..
E. McEvoy, superior of the American
branch of the Augustinian order, said he
proposed soon to give detailed statement
to the church of the finances of the society,
and would leave nothing undone to meet
the obligations. He considered the
mortgages on the church property COM
paratively slight inconvenience. The
only matter for serious consideration
was the interests of depositors.
He said the society's Indebtedness
was between 100000 and $5,000,000, b 1t
with receipts from orders in these churches
and two chapels in Lawrence and Methaen
WIFI OlAOL ID AIO POSt w 11O0O
the financial obligations in few years.
He expressed the utmost confidence that
the Catholics of Lawrence would subscribe
according to their means to free the church
from Indebtedness. Two years ago he col
lected in New York, Pennsylvania and
Boston $1,000, which he applied to de-
crease the debt. The society would leave
nothing undone to meet the
pressing demand, and would not
see the immediate poor suffer. He
urged his hearers to be patient and the
secretary would pay them ALL Rev. Mr..
Corr, of the Immaculate Conception, told
his people tho society would not repudiate
its debts, but pay dollar for dollar, to have
patience and contribute as Catholics, and
they would get teeir money in short time.
Rev. Mr.. Ryan, of ST. Lawrence church,
gave the same advice, and said dividend
would be paid depositors yearly and per-
haps oftener. The debt was not incurred
by the present heads of parishes, but the
responsibilities would be met.
LAWRENCE, Mass, Feb. 25.-Prominent
Catholic citizens tonight considered
means to extricate the Augustinian
society from its Indebtedness, and decided
to appoint committee to have full con-
troll of the finances and revenues of the
Catholic churches of the city, except st.
Patrick's. A subscription paper was
started, and $4,000 subscribed A. fair
will be held. The committee assume
their duties only with the understanding
that depositors in the savings institution
will not force the Augustinian society into
| insolvency. st. Mary's Parochial school
will be closed, saving $4,000 annually.
This puts 1000 children in the public
schools.
| LAWRENCE Mass, Feb. 24.-Four addi-
tional attachments were placed on the
property of the Augustinian society to- day,
making fourteen in all. Further investi-
cation shows that the misfortunes of the
society are due largely to injudicious de-
velopment and improvement of
church property. In face of
| the Indebtedness of 100000,
the construction of the Church of st. Mary
began, costing about 100000, and only
$4,000 was collected. A few years ago St.
Mary's old church was remodeled into a
hall at cost of $4,000. For the past ten
years the parochial schools were at an ex-
pense of from $4,000 to $4,000 annually.
For number of years the society paid IN
terest on an Indebtedness of 100000. 1t
is claimed that the property recently sold
| by the Augustinians was not disposed of in
good faith, the corporation being in
solvent at the time. II is said
| they own considerable real estate
at IIansingburg, Watertown, Mechanics
vile, New York. and in Philadelphia, and
other parts of Pennsylvania, and that some
depositors have already instituted suits in
these states, causing attachments to be
made. The society will probably be forced
into insolvency. Many depositors wish a
receiver appointed to control the income
of the society from pastorates, which aver
age $4,000 yearly. 1t is expected that
the priests will allude tomorrow to the
legel proceedings by parishioners.
| YOUNGSTOWN, o., Feb. 24.-The appoint.
ment of receiver for the incorporated
company of Brown, Bonnsll s. Co., here,
caused by the failure of John B. Ayers
Sons, Chicago, does not involve any of
the Browns or Bonnslls, they having sold
all the stock held by them to Fl. G. Ayers
and Henry 1. Higgins over three years ago
and recovered pay in full. The concerns
in which Brown & Bonnell are now inter
ested, namely, the firms of the Mahoning
Valley Iron company and BonneIl, Balls
ford & company, of this city, are in no
wise affected by the failure and receiver
ship.