| Show N M L kry f JY JW JN A L CD AO I INAL L bl GIBBONS rr t A HEAVY t L LIn May In Lose Iose Ills His Ils Fortune I Through The pf of W THE CATHOLIC It I Also i Iso Is I Involved I for fur Pearly n i Mil Million I I lion Used for fol Speculation ton 11 Cardinal primate of ot the he Neman Homan Cath Catholic olic church In ht America IN la In a fair wall Wl to 10 Inlo flee tio greater part Al of or his ilia hi per pers s nal fortune tort no through the that have overtaken Thoma Thom Thomas I IRI a as RI of or the time Catho I University of ot America merka duce aluce Its its lis foundation II 11 year yea ago a 10 Many I ny other Catholic C clergymen tl and virtually ev ov every o oven ery en Catholic Institution In iii the District of ot Columbia Including many lan face raci th he wine sane prospect of disaster Mr Ir difficulties are arc arf of or the th most host Iut extensive order oder He lie Helias has lias long lonK been considered on one of ot time the wealthiest and ant most macat responsible men len lenIn I In the district and Catholic clergymen nel hid had unbounded unbounded confidence In II him 1111 A Afew Afew few tew days ago some come of ot his hie hi creditor filed lell a I petition to have him hint declared o In nn in bankrupt It I mill 1111 11 Ills Fla hil great greut petite 1 had been parly rah nil tort lout lo t in anti and that thul the elep proponed wis Nos e ay to 10 prevent him front turning tUlln over ocr OP whit aft ys i till the t of 0 I u JN N W III American to protect u rotes 0 of ot Its I funds emul that had been h n ted to him hll Mr Ir nt rat first dueled dot dm led that there was danger to 10 any of his llla cred creel lore but hut later inter made application to 10 have a II receiver appointed for tor Ids hi prop properties Ho serious la Is I the situation that Car Cardinal Carell dinal ell 1111 I who Is III archbishop of lit Baltimore huts hits called the thu clergy of ot Ida hiM to meet him In iii conference to 10 the affairs of ot the university The fh has hA pressed ox H a willing legs to 10 sacrifice his hili own fortune to 10 old aid oldIn III In saving the time university II n II arid and has strongly urged the seine titan ti on outer other clergymen St bt Patricks church churchIn In this hula city olty lies has nearly Involved and other churches churchell have similar eume The Visitation convent nt at Georgetown tIe the female Institution of learn leant learning ing In the country laces faces a probable lows loss of ot S and other othar Institutions have smeller smaller sums count at stake The rh Cath Cuth Catholic olic of ot the Iho most moat founded by b the church In America and amI the line especial I pride ride of ot the higher authorities In III Home is III Mr h largest creditor It has nearly at 11 and OI Mr Ir I ll bond an RII treasurer Is II for tor only This represents the en Oil endowment of ot the university which Will was to 10 be welted Invested beyond be the use possibilities of 01 lose Iou The bankruptcy threat threaten en however to demolish the 11 to rights aa nit a 1 preferred creditor and to force It IL to 10 on mi an 11 equal basis bade with other This condition not 1101 only threatens the ex existence of 0 the limo Institution but hill Is almost certain to 10 prejudice UN Ita standing lito mil 11 I before the authorities heru hero nod In Home Route The amount of Mr Sat h debt to the university Is IR made mode up of sums given by h rich to found chairs fellowships and Among the heaviest contributors were the Drexel of ot Philadelphia u elle Kolly of New f York Patrick Quinn of ot Philadelphia and amid numerous other In Individual as an well wall us Its the ha principal societies All 11 of till the lie sums stints were wIle given Riven to 10 Mr Sir Ir Wn to Insect linest anti ho he regularly paid Hid the llin university 6 d per pr rout cent ft Il year yea eal on the amount he hp held hehl In Imi trust since the difficulty nrose l lending leading clergymen Catholics s have admitted that tiny they knew b by 11 his hll paying 0 per pr rent cent niu b Iy thit that Mr MI was tins using tiMing tic futile III for speculation It la tins lima ki knowledge which ll nausea great I Ah I ness near among amon the th thet t American hierarchy which can coli hardly R a censure from Home for or church funds to 10 involved In III Ins s l |
