The Bennington evening banner. (Bennington, Vt.) 19??-1961, 1909-03-12
NOTES FLOATED BY
PRIEST RESULT IN
S13O,O0OLOSS
Baltimore Church Involved in
Visionary Schemes
CARDINAL ASSUMES DEBTS
Father Ebert Who Has Become In
mate of Sanitarium, Still Cherish
es Plans for Wealth.

Baltimore, March l2.-The Rev.
Casper p Elberts operations in high
finance" have involved him and his
church to the extent OF $4,000 and
caused sensation in Catholic cir.
cles Cardinal Gibbons recently re-
moved Father Ebert from the pastor
ate OF st. Katherine's church and the
members of the congregation and
Catholics generally wondered at the
cardinals action The announcement
yesterday of the priests financial en-
tanglements explained his removal
The cardinal has assumed responsible
ty for Father Elbert's debts con
tracted as rector of St Katherine's
church. The cardinals name appears
on notes given for money borrowed
and even those notes given by the
priest as pastor will be paid by the
cardinal
The notes were issued in large num-
bers to bank and individuals in
amounts ranging from $1,000 to $4,000
and were all signed by Ebert as pas
tor of St Katherines church. Ac-
cOrding to an official statement from
Cardinal Gibbons, very little of the
money raised by Father Ebert was
used for church purposes. Some OF
1t went" he said, 70 pay premiums
on life and accident assurances. The
balance went into visionary financial
schemes by which he expected to re-
alize large profits. There is no indi.
cation that the money was spent for
any improper purposes
Father Elbert's financial difficulties
II has been disclosed, have been going
on since 1904, when he started TO raise
money upon a large scale for the pur-
pose Of improving the condition of his
parish and making additions to the
Sunday school and church. Success
full in this, he spent the money in i'm
proyements and then began to branch
out
He was a man Of winning person
atty, and was regarded as one of the
most popular priests in Baltimore.
Evidently he had no trouble In getting
money from banks and business men
on his notes as pastor of the church
and in some instances notes bearing
it is said, the name Of Cardinal Glib
hons
AS archbishop OF Baltimore. having
under his control great Catholic prop
erty interests, Cardinal Gibbons in
dorsement is regarded as first class
collateral in banking circles. "Such
Endorsement" said one banker.
would be good for a loan of 10000
GOO AS his operations increased,
Father Ebert is said to have borrow
ed from Peter to pay Paul The in
terest on his loans had 10 be paid and
notes had to be renewed At banks
where he had the bona fde indorse-
ment of Cardinal Gibbons he got mon
ey at per cent but in some cases
he is reported to have paid consider
ably more for it,
AS to where the money went the be
lief is that no small portion was alb.
sorbed in a venture of a former resi-.
dent of this city. now living at Laur-
ell. BY process known only to him
self this person is said to have claim
ed that he could mold pure and unre,
fined copper and nickel.
Father Ebert, however. raised mon.
ey by notes to finance the schemes of
various promoters and issued more
notes to take care of the original OBJ.
legations. Interest accumulated. and
more notes were discounted to keep
the wheels rolling until at last the
priest was obliged to resort to borrow
ing money on his life insurance poll
cies amounting to about $4,000. Thus
he postponed the inevitable crash to
the very last moment
Plans for the manufacture of gold
have absorbed thousands of dollars,
projects for the manufacture of alumni
mum have absorbed other thousands,
and dreams of rich returns from all
kinds of mines have made further in
roads on the priests resources.
Father Ebert is now at Mount Hope
retreat, a sanitarium, utterly unable to
appreciate the fact that any unusual
features mark his financial transac-
tions, and it is said, serene In the be-
lief that his ventures will reap rich
returns If he be permitted to carry his
plans to fruition.
Cardinal Gibbons, II was stated to-
night viii not be permitted to shoulder
the entire burden nor suffer the total
loss in person. Friends are offering
contributions to tighten the load
Wealthy members of the church have
preferred assistance, one member hav-
ing signihed his willingness to adj
vance the entire amount and accept
payment in the future at the cardin-
ais convenience. His name is with
held.