Home | Mission & Goals | Meeting Schedule | Search | Contact Us | Submit A Story | Links

1881: The year Mt. St. Marys
almost went out of business

As originally reported March 5th, 1881 in the Emmitsburg Chronicle

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 thenĄ 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.

Know a interesting story about Mount St. Marys? 
Send it to us at History@emmitsburg.net

Read other stories about schools and Churches in the Emmitsburg Area