Daily Kennebec journal., 1908-12-10

New. York, Dec. 9-ConcerninG the
suits brought in the federal court at
Pittsburg today against makers or nctes
to p. j. Kieran, former president OF the
Fidelity Funding Co, now in the hands
of a receiver, it was explained today by
the Carnegie Trust Co. of this city that
It holds $4,000 in notes of various Cath
olic societies which were discounted by
the Fidelity Funding Co. These notes.
the statement issued by the Carnegie
Trust Co. says, are secured by SbD,ooo
worth of collateral and the Trust Co. IS
awaiting the action of the receiver be-
fore attempting to recover any of the
funds It has advanced to the clients of
the Fidelity Funding Co. Thomas F. Gil
row. the receiver, has requested the Car
necin Trust Co to surrender some of its
collateral on the ground that the value of
the collateral exceeds the notes 1t holds
bv about 100000, but the Trust Co. has
declined to release any Of its collateral
at present
William Nelson Cromwell. the attorney
who, it was reported. was requested by
Cardinal Gibbons to reorganize the Fidel-
ity Funding Co. said today:
"worG was brought to me that it was
cardinal GIBBONS ueSlle lIidl L SHOui' t'|'
in this matter. I was asked by eight or
10 bishops, and archbishops to take up
this subject, which has relation to the
financial difficulties of % or 80 Roman
Catholic churches. This reduesc was
made to me two or three weeks ago. MY
reply was that If practically all the
- churches were united then 1 would con-
slider whether would act.
ITO overcome my reluctance rave
been receiving letters. statements and re-
quests of all kinds. I will probably not
reach my conclusions for at least q week
as TO whether I shall act"
Receiver Gilrov Of the Fidelity Fund
ing Co. took exception today to the state
ments of former President kieran and ms
attorney, cambridge Colby, that the
whereabouts Of Mr.. Kieran have been
known all the while to the receiver. Il
have not been able to find kieran,' SAID
Mr. Gilrcy. Neither have ! been able to
find Fl. II. Van Dusen or w. B. Arundel,
Kierans associates"
Pittsburg, Pa, Dec. ?.-SeveTal men
representing themselves to be repro
scntatives of p. J. Kieran, head of the
dcfunct Fidelity Funding Co. of New
York and Chicago. were here today at
:. tempting to effect a compromise with
the several Catholic societies of this
diocese who have been made defend
ants in suits to collect money growing
out of loans placed through kieran and
the Funding Co
One of the men was clothed In the
garh of bishop OF the church. but 1t
Is said he admitted to the attorneys
that Bishop Cancvine did not recognize
him 1t Is said to be the policy of Blsh-
op Canevine not to consider compro-
mise propositions and to insist upon
prosecutions Attorneys for the organ
!. izations informed their callers today
that the matter. was now in the hands
of the police and, would take its
course. ;Attorney Charles A. O'Brion.
representing one of the societies. two
DAYS ago informed alleged agents of
Kieran's, who said a syndicate to care
/ for all claims was being organized.
that no compromise would be consid-
. cred.
Father John A. Rykaczwski. pastor
of the Sacred Heart Polish Catholic
I church of Braddock, suburb. is
among the alleged victims of kieran