Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1908-12-08
n EYANDRIA VA. TUESDAY EVENING, DECEMBER g. 1905
AIexam6ria Gazette.
Entered at the Postofioe Of AlexAndH1A, Vir
Rinia, ss second-class matter
A>oraER FINANCIAL CRAss.

ANOTHER FINANCIAL CRAS8.
Ira the s6a rs of the Fidelity Fdod
log OompsDy, which vas oreaaz d un
der the laws of New York 10 1899 t
finance the building operations Of Ca ho
Inc churches and allied institutions, ant
which vent iuto the hands Of q receive
few weeks ago, are 10 an exceedingly
tangled condition is asserted By the re
ceiver, Thoua,F. G Troy. jr., ia a stat,'
ment msde by him yesterday.
| Accord Dg to Receiver GiIroy, ih'
com psny's liabilities will aggregate nj
less tha1 81. 500 900 with practically ut
ssstts. It's creditors include at lea't 81
churches, seninsries, colleges and many
priests and nuus. These are located al
over the couu'ry, from the New EOglano
States to Oregon. Chief among the
CON mpsDy's creditors is st. Mary'S Acsd'
emy, OF Nsuvoo, iii.
Az explained by the receiver, most o.
the Fidelity F9nding Comp a1y loans
were 10 run for 20 years. 10 addition to
these loaos the company also issued life
insu,a1 nee ~ inst the lives Of priests and
nuns. A Iate of interest ranging from
to 9 per cent. was charged for both
loan and insurance.
The Fidelity Funding Company, 1t
seems, alsO sold it's bonds to representa-
tives OF the Ostbolic Church. These ere
secur5d, according to the receiver, by
mortsaye on property, but how much
az b. recovered from this source 1t lie
as vet impossible 10 say.
Klora1 is Described as not only sUave
and of engsgiug mauper, but some Of his
clients say he is good d al Of a hypno-
tist as well. The receiver has discovered
suffi,i mt in the books and papers TIA
we're left in the oficss of the Fidelity
Company TO indicated that Kieran oh.
taiued notes signed by the mother su-
perior and treasurer OF st. MarV's ACa
demv at Nsuvoo, H., gregatiu0 ST.
400 900 on two mortgages tOtaling $780,
600 The property is worth about
$3.50, 900.
The nuns aud others With whom Kier-
40 had transactions bal great fsith 10
him. 10 the case OF s.. AOdreW's
Academy the authorities there had given
Kiersn a bundle of notes bearing thei'
s,gr uies, With the date AID amount
left blank, so that Kierau could use them
as he saw 1T.
They also gave him a check book
with the Necessary slgOstufes on t.
checks, and Iuroed the check book Over
70 him without reserve, leaving him t.
Gil in such amounts as he considers
necessary to develop the plans that were
10 be suob al aid t. them.
Ia addition on the Fidelity Fnndine
Oompsny, K'erau 80 conducted num-
Der of suhsid arg companits.
The a1th r I'd capital Of the Fidelity
Fuodinp OomEa1y was $5, 900, 600 and
20 5O0,O 900 surplus o. his amour
OF more tta1 abOu, 800, 600 vas stt-
ally paid 10, the receiver states, thu
1uyeTs of the stock being fcr the mos
part priests and nuns. F rner Secre
aIy Of the Treasury Leslie NJ Shaw /
io9u on the Gonna 'V's hooEs as haVinl
ua1e a lta1 of $50 900 t. Klersn
cnis is occurred. Mr. Slaw alec pur
chased $40, 600 w'rtN oi the company,
Il cks, the books showed.
The present head of the company Is
Oun,a S cill, su1 smopV us form.
directors we're Father Lsuigan, vicsr
,erer OF the B fslo dipceses aDo
F-tn.r F cner, pss.,r OF Bl imor,'s
Cbtledia'.