New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-05-21
BROOKLYN TABERNACL DEBTS
A SETTLEMENT WITH CREDITORS.
DR. TALMAGE's GIrrs-HoPEs FOR BETTER

DR.. TALMAGE'S CIFTS-HoPEs FOR BETTER
TINES
The officers of the Brooklyn Tabernacle met the
creditors OF Dr. Talmage's church at the Bible House,
this city, yesterday afternoon and came TO Il salts
factory agreement, which definitely disposes OF the
possibility OF Dr. Talinage resighug because Uf the
heavy debt which has hing over the church for so
long time. DR.. Tamage announced II few days
ago that he would be obliged 10 his connection
with the Tabernacle unless the debt at once
relieved After yesterdays meeting an official state
mcnt made, part Of which follows
Tile incubus Of debt which has hung like a
nightmare over the Brooklyn Tubcmacl" tor many
months was removed yesterday, and the much m ,oci
question OF the Rev. Dr. Ialmagc's resignation from
his twentyOur year, passionate was encctuy sctiici
in the negative This aspect OF All lis wa'
brought nbout by the payment Of claims representing
All aggregate Ct about $4,000.
"All of the creditors, with the exception OF few
who were ont Of town, met at the offices OF ihe
Christian Herald in the Bible IOuse Ninths' ana
Four,h-ave All previous meeting a large majority
had already agreed to the basis Of settlement pro
posed by the Rev Chandler A. Oakes assistant pastor
OF the Tabernacle, and Yesterday there was no;
single voice Heard In dissent TO the arrangement
Checks were signed By DR.. Louis klopsch, OF ''Ihe
Christian Herald and handed to each creditor i'll
turn those out Of creditors being sent 10 them
by mail. Among the leading creditors who were paid
tects, $4,000: Overington builder 100000 JarIine
organs, 3l4 ,OO0 Howell d SAXON heaters. 1911 :;
New York Arch cctura Terra Gotta Co., 81 800 James
DOugherty glass, $500.
dr. Tamacc really was the largest contributor
in the whole matter. In addition To LIe check Of
10000 he gave fully $4,000 toward the settle
ment For one claim which he hell against the
Tabernacle OF $1,000 for money advanced. lie ac-
cepted check for 81 to make the settlement legal.
the check bearing lis face the words in full for
all claims against the Brooklyn Tabernacle TO date
with a similar Endorsement the back be sincd
by the payec. All the checks paid TO the creditors
bore the same Endorsement. one Of The creditors,
whose claim amounted 10 $500 and whose percentage
was SIl5, on receiving his check wrote bis
the back ana laid IT down with $50 In bills. Push
ing the whole TO the paying clerk. he remarked
that he had for some time intended 10 make con
tribuon to the Tabernacle and he thought the pres
cni was as good time any.
This settlement makes the Tabernacle's prospects
very bright Mr.. Cakes believes that the income
from the Tabernacle over and above expense, VIII
be large enough to admit OF the formation Of siHk
Ing fund. which in time can be utilized as means
of wipIng out the $12J.OOO mortgage held by Mr.
obligation that exists OF paving dollar Tor dollar oil
the balances waived by the creditors under the pres
cnt adjustment. As the financial showing now stands
the Tabernacle by yesterdays proceeding. has been
relieved from debt OF 100000, thus reducing It's
entire Indebtedness TO about $1GOoOO relieving the
corporation from PROSPECTIVE condition OF hopeless
commercial bankruptcy ana securing valuable equity
in the Tabernacle building. 80
.Ihc floating debt when the scttlcme:f proceed
ings were begun was about 1000; IL IS cX-
nnctcd during the coming week that there will be
tunlcont funds on hand TO pay at least part OF
Tho balances due TO the Organst. sexton, cOrnetist
and assistant PASTOR