The Bennington evening banner. (Bennington, Vt.) 19??-1961, 1908-09-10
BANK FORECLOSES
ITSM0RTGAGEON
NEW CHURCH
Catholic Parish at Newport In
Financial Straits.
THE BUILDING DEBT IS LARGE
Unsecured Creditors Likely to Lose
$3o,ooo-cass May Go Into
Courts for Settlement.

Newport, Sept. 10.-It is understood
that the Barton Savings bank has
foreclosed the first mortgage upon the
new Catholic church and new stone
house built by the Rev. A. p. CIer-
mont in this village, and the action Of
the bank has caused a good deal of
excitement among the members of the
parish and the other creditors of
Father Clermont.
The bank holds a mortgage for $751;
600 and some interest and there is
about $1,000 In second and third mort
cages upon the church and house, and
about $4,000 Of unsecured debts, held
largely by members of the parish and
business firms of Newport.
Inquiry among the creditors reveals
the fact that quite a large portion OF
the debt is held by people who will be
very much embarrassed II it is not
paid
The unpaid debt incurred In build.
ing the church and presbytery Is be-
tween $4,000 and 100000 and some
time in the latter part of 1907 Father
Clermont was advised by the attor-
ney for the bishop of Burlington that
If he could reduce the debt to about
$4,000, the matter OF opening the
church would be considered by the
bishop and the diocese. A committee
of the parish was formed to make
an effort to reduce the debt, and this
committee, with Father Clermont and
his friends, during the winter and
spring, succeeded In securing pledges
of little over $4,000 In reduction of
the debt, upon condition that the
church should 0e opened for services.
I and proposition was made by the
Sisters of the Sacred Heart to pur-
chase the old church and old house
Tor $4,000. Adding the equity in the
Old property to the amount pledged in
reduction of the debt on the new
church, would leave the debt>between
SSS,0O0 and $4,000 with some interest
to add A friend of Father Clermopt
Offered to donate $4,000 to him in re.
duction of the debt provided the mat
ter could be adjusted satisfactorily
with the bishop and the church OPEN
ed for services.
There is large hall built by Father
! Clermont number of years ago upon
his own land, upon which there is a
mortgage of about $4,000, in addition
to the. mortgages upon the other prop
! erty, and the mortgage of this hall
offered to cancel the mortgage upon
1t. Father Clermont offered the Dish.
op and diocese the new church, the
new presbytery, the hall and all the
land which he owned, except small
piece, which was mortgaged for all II
was worth, provided the diocese would
furnish $95,500 and the interest which
had accrued since January l, 1908. A
proposition was made to the bishop
and diocese by banking firm in Mon
treal to furnish Father Clermont $780,
900 without any liability on the part
of the bishop or diocese, provided the
bishop would authorize the church to
be opened and consent to the loan.
This last proposition was refused and
the diocese voted to offer $4,000 for
all the property which Father Cler-
mont owned, with the condition, at
tached that he should then resign the
passionate of the church in Newport.
! If the bishop and diocese make no
| further move In the matter and the
foreclosure OF the mortgages becomes
absolute, the unsecured creditors to
THE amount of about $4,000 will make
an absolute loss. Quite a large
amount of the debt is held by men,
bers of the parish. some of whom put
in practically all the money they had
expecting that when the church was
Iopened they would get their money
back, and nearly all have contributed
very largely toward the reduction of
the debt.
Although Father Clermont refuses
to make any public statement with
relation to the matter, some of the
members of the parish claim that the
last time the bishop came here, he
told the people in the church that he
was going to give Father Clermont
authority to build a church and asked
the people to assist to the extent of
their ability.
1t is impossible to learn the legal
status Of the situation, but many OF
the business men of the place who are
creditors insist that. the bishop and
the diocese are liable for the debt, and
that rather than lose all they have in.
vested in the church, they shall test
the question in the courts.