The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-08-28
RYAN To BECOME
VATICAN AGENT
Belief That Catholic Church
Will Place Large Invest
ments With American.
CRISIS IN OLD WORLD
GIVEN AS A CAUSE
Gradual Transfer of Many
Church Interests to New
World Reported.
BY CLEMENT J. BARRETT.

Special Cable to The Tribune.
ROME. Aug. 27.-The announcement
from America that Thomas Fortune Ryan.
the multi millionaire, intends to enter
the banking business upon a scale as
large as that of ]. p. Morgan & Co.
led TO the report today from unofficial
source that the new banking house VIII.
become the agent OF the vatican.
There have been developments within
the past few years which tend TO show
the accuracy OF this report. There are
a number OF assertions that Mr.. Ryan's
banking house Will not only be made tn
American financial agency of the Church
OF Rome, but that 1t will have the ham
ding of the great sums of money from
every source of revenue possessed by til,
Roman Catholic church.
Mr Ryan Is member OF the Roman
Catholic church. and in the true con
ception OF the word he is good church.
man. Among the laity he Is one of In,
richest and most powerful adherenls
the faith He has done much for the
church. He has helped struggling par
He has given his advice on business mat
ters and has lent his influence where II
could be OF use to the vatican.
Position of Morgan.
Along with Mr. Ryan. J. p Morgan
Is accredited with having assisted tn
Although Mr.. Morgan is member OF
the Episcopal church, his affiliations IN
Rome and his friendships are such as
to open the way at times when he coulc
be of service TO the church.
1t has been known for some time that
the Roman Catholic church has with
drawn from many of its foreign invest
ments and relnvested It's surplus in
American enterprises. II is believed that
this step was taken upon the advice of
the two linanciers herein named.
] learned today from a source which I
consider authoritative. but which must be
protected, due TO the delicacy OF the
subject, that the matter OF transferring
financial affiliations OF the church TO
America has been under contemplation
for some time, The crisis in France.
Spain and Portugal. affecting the church,
and the likelihood OF anti-clercal disor-
ders in Austria and Germany, were the
\ climacteric events which led 10 Il final
ydetermtnation upon the part OF the
church.
America as Stronghold.
The vatican is coming to look more
and more to America as the Roman
Catholic stronghold, The wonderful
strides of the church in the United States
have not only been a source OF keen
qualification 10 Pope Plus. but have led
the curia TO believe that the New World
now offers more possibilities than the
Mr.. Ryan is very much persona grata
at the vatican. He is in intimate touch
with the financial affairs of the Roman
Catholic church and ii is predicted that
II Is only 4 matter OF a short time until
he, or rather. his banking house. will
have carte blanche with the vast funds
OF the church Mr.. Ryan will have for
hts assistants In his banking venture his
sons, Allan and Glendenning Ryan. The
firm name will be Thomas F Ryan &
Sons. and ] understand the firm VIII be
known in the United States as a private
banking house.