It
transpired on Saturday evening last
that Capt. James McSherty, of
Frederick, had been appointed
Receiver to sell the property, and
settle up the affairs of this
venerable Institution of learning,
and all day Sunday and frequently
since then„ the comments were free
and frequent upon the subject. The
results now reached has long been
anticipated in this community, as
certain to come sooner or later, yet
it came upon us as a surprise,
almost a shock, and was met with a
feeling of deep regret on every
aide. The number of the dependents
of the college, the intertwining of
its affairs with the business of
this community for over fifty years,
will at once. suggest the common
interest in this disastrous
condition of things.
It but
remains for us now to complete our
record of the Institution, as a
great factor in our local history
and we do so, from such alleged
facts as are within our reach from
the correspondence of the public
press.
Upon the
petition of Joshua Biggs of this
county, and Noah Walker At Co., of
Baltimore, asking that a trustee be
appointed to dispose of the property
of Mt. St. Mary's College, for the
benefit, of its creditors. Judge
Lynch of the Circuit Court for
Frederick county, after hearing the
statements of counsel, granted the
application and appointed Captain
Mc-Sherry trustee. It said that the
liabilities amount to from $165,000
to $200,000, whilst the intrinsic
value of the property may be about
$75,000.
Among the
creditors are: the First National
Bank of Hanover $25,000 on mortgage,
and also $18,000 on notes; Hon.
Richard Marshall of Frederick, agent
for his daughter, $,17,000; First
National Bank of Westminster $100;
Littlestown Savings Bank $2,420; New
York Clothing House of Baltimore
about $400 Western National Bank of
Baltimore $2,400; Union Bank of
Baltimore $418.47; Randolph Nichols
of Frederick $2,000; Col. Richard
Mar-tin $20,000 ; Henry Lorentz of
Fred. crick $1,000; Mr. Biggs' claim
was for $5,000; 'Noah Walker & Co.,
$1,500. The suit of Murphy & Co., of
Baltimore for $200 brought out the
issue.
A reporter
of the Baltimore American on the
28th, gave an extended list of the
creditors, of this neighbourhood,
but the amount of the obligations
set down to their names, is so
manifestly inaccurate in many cases,
as to discredit the whole
representation. We shall therefore
only name a few : Mrs. C. Lilly
$9,792; the Misses McDivitt $3,000;
Mrs. J. A. Elder $2,400; Mrs. M.
Patterson $2,000; Sarah Haas $1600;
Mrs. L. Dwen $900, &c.
It has been
announced that the Receiver will
continue the exercises of the
college to the close of the present
scholastic year, and will only sell
at present, such property as may not
be immediately necessary to be
retained. The Bale of the buildings,
the land, &c., may occur during the
glimmer, possibly not until next
September.
Meanwhile it
may be confidently expected that the
alumni and other friends of the
institution will put forth earnest
and effective efforts for its
'diet'. A proposition has already
been made through the Freeman's
Journal of New York, by a
responsible gentleman to be one of
two hundred persona to contribute
$1,000 each, to reinstate and
reconstruct the interest which Is so
deeply grounded in the affections of
the hosts who hail the college as
their Alma Mater.
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