The Red Cloud chief., 1892-09-02
SENSATION AT ROME.
Dismissal ot Cardinal Ruggiero For Crook.
ed Financial Operations.

Dismissal OF Cardinal Ruggiero For Crook.
ed Financial Operations.
ROME, Aug. 2L-Grcat excitement has
beer caused by the dismissal of Cardinal
Ruggicro, project of finance OF the pro-
paganda who has been looked upon by
many as the probable successor of Pope
Leo NH. 1t Is said that the pope him.
self ordered Ruggiero's dismissal, being
convinced us "a result Of inquiry that
Ruggiero and not Monsignor Folchi was
h really guilty party in connection
with the misinvestments, 10 use q mild
term, for which Monsignor Folchi was
dismissed from the papal service about
one year ago.
The dismissal of Folchi was brought
about, IL Is said, by Cardinal Ruggiero.
Folchi WAS vice chamberlain TO the
pope and had control of the papal
funds II was alleged that In the win
ter of 10000 Monsignor Folchi, who
was supported by Prince Buonconpagni
and Baron Lazzaroni, resolved, in order
to save the Banco Di Roma, in which
the Vatican held 10000 out OF 20, 900
shares, besides other securities, TO
establish first in Paris and Lon
don and afterward in Rome, Berlin and
New York. II syndicate of Catholic
banks, with the object of absorbing the
financial societies Of Rome that were
known 10 be in n disastrous condition
and to restore them to vitality, while ut
the same time raising the value of the
deprecated securities. Above all they
wanted 70 save the Banco Di Roma, in
tending, as they eventually did. entirely
TO reconstruct IL. The Banco hi Roma
was created with n nominal capital OF
5000 900 lire lei, OO0, 0OO), divided
us already stated into 20, 200
shares. But the real working capital
consisted of 100, 900 lire (eG00, OO0). As
Mgr. Folchi has taken on ccount Of
the Vatican 10000 shares, the admins
tration of Peters Pence found itself in
volvcd nominally to the extent of ST.
500, 0OU. Mgr. Folchi had, however, de-
posted In the bank the sum of 3, 900, 900
lire.
At that time the financial circles in
Rome were interested in supporting the
creation Of these Catholic banks and
they were DESTROYS of helping this
financial movement in order to put the
securities on u firmer foot
ing. Consequently Monsignor Folchi
proposed TO the commission Of cardinals
that the Vatican should enter into the
to the extent of 5000, 900
lire. He%armly supported the project,
claiming that the Roman securities of
the Vatican and the millions of lire in.
vested in tho Banco Di Roma could not
be saved In any other way.
Cardinal Di Ruggiero, it is claimed,
was strongly opposed to the proposition
and protested against it with such suo-
that the commission was merely !
and had not authority to veto |
plan. Monsignor Folchi ignored |
them and carried out in conjunction
with Ilazzaroni and Prince Buoncom. |
pagni the financial project which had
been submitted to b. rejected by the
commission. Monsignor Foichi com. /,
nenced by sending q part Of the money
20 Paris, where the first part Of the
proposed banks named Ic Credit was
AS the pope had not been informed of
his arbitrary speculation, aud as the
commission was only informed Of it
when 1t had taken place, Folchi was
and the commission hitherto
consultative became u delibera-
i've body.
Such was the story made public ut
he time Of Folchi's dismissal. Later
Investigations, however, which have
'een quietly going on. appear to have
'xoncratcd Folchi and implicated Rug
There Is great excitement in
hurch circles and it is generally be-
that n tremendous scandal is
waiting disclosure.