The Irish standard., 1909-04-24
corrsets .Misstate m ents.

Correets Misstatements.
Rev. William Mcmahon, editor Of
the Catholic Universe, explains his
bankruptcy proceedings as follows:
THE publicity given to my petition
in bankruptcy is very distasteful to
me. Through the intervention of
friends 1 sought to avoid all news
paper publicity and comment. People
in trouble generally seek silence and
seclusion. AS a rule the press does
not respect this feeling.
II do not wish to pose as victim.
accepted the plan proposed by Mr..
Kieran as feasible and beneficial. The
endowment insurance proposition
united with cheap loans for the ben
, eft Of churches will stand investi-
cation, and it has received the ap-
prevail of leaders in finance.
Mr.. J. P. Kieran branched out TO
other matters that looked well to
business men. The stringency of the
times made it difficult for him to get
money to finance them and finan-
cial institutions took advantage Of his
straits to demand large bonuses for
loans. OF some Of these had knowl
edge. The choice Of the lesser of two
i, evils induced Mr.. Kieran to give the
bonuses. In one case particularly
complained to the management of this
drastic and unjust manner Of doing
business, especially when tho parties
got their interest and security.
Il have never claimed that I was
forced, coerced or hypnotized by Mr..
Kieran to take part in any Of his
plans. He and others with him IF
more business experience than I ap-
proved of them. Yet bad results fol-
lowed. I was willing to take the con-
sequence quietly and went into bank
ruptcy to make all possible atone
ment.
"Mr. Kieran impressed me as en-
tirely unselfish, very generous. deeply
religious and sincerely charitable
without any trace of canting hypo-
crisy.
I'm this matter of mine the news
papers have drawn a good deal on
their Imagination. They declared
had collapsed was prostrated,' could
not attend to my duties had left the
city to recuperate,' etc. None of these
assertions were true.
1T had been intimated that I need
not have gone into bankruptcy, that
my liabilities are not so great as re-
ported, etc. Well, no one goes into
bankruptcy for fun II can be dis
charged from such proceedings will
rejoice, except one item, that is not
an actual or contingent liability.
"a note signed by Mr.. Kieran, Mr..
Madigan and myself for 100000 had
been adjudicated against me for $751;
900. Why should 1 be held for more
than one-third Of the $4,000?
THE sheriff served me with writ
for the collection of the entire amount.
This precipitated the bankruptcy. This
also shows that contingencies can be-
come realities unjustly I am told that
certain things cannot be done, in the
face of the fact that they have been
done.
1.-THE Nauvoo write-up is, as far as
L am concerned, a romance. I did no
business in that town. I went there
for few hours on only two occasions
on a visit after the buildings had been
started The Sisters did not consult
me on their affairs.
"Cul bono? might be asked concern
ing this whole publicity.
II wish to express my appreciation
and thanks to all who have sent mes
sages Of sympathy and to the news
papers for their kindly consideration,
though I would have preferred no pub
licity. l do not wish to avoid any re-
sponsibility or to throw blame on
others