Donahoe's Magazine, Volume 15, No. 3, March 1886 — John Shaqi
Donahoe's Magazine, Volume 15, No. 3, March 1886Various
History
Donahoe's Magazine, Volume 15, No. 3, March 1886
Various
Periodicals
For several years past the subject of erecting a suitable building in
which the Society should have a meeting place of its own, with rooms for
reading and social purposes for young men of the present and coming
generations, and also small halls for other Society meetings, has been
under consideration. The project seemed visionary till this year, when a
committee was appointed to raise a fund for the purpose. This committee
has given the subject most careful consideration, and intends by means
of a series of entertainments this winter, to establish a foundation on
which to build a fund for the erection of the structure proposed. When
the one hundred and fiftieth anniversary is about to be observed, it is
intended to invite President Cleveland to be the Society's guest, and
the occasion will, without doubt, be one of great interest.
Interest:--Savings Banks.
The _Catholic Review_: Interest to be at all justifiable ought to
consider a number of elements, which in the case of most of our Catholic
churches in great cities like New York, Boston, Brooklyn or
Philadelphia, are largely in favor of the church corporations. _Lucrum
cessans_ will justify interest; but just now where else can a gain of
four-and-half per cent. be combined with absolute safety. _Damnum
emergens_ justifies interest; but in the present condition of affairs,
with bank presidents looking for investments at two per cent., and
telling depositors that the mere safe keeping of their deposits is
interest enough, where does the loss of profit arise? "Danger of the
investment" justifies interest; but is it not ridiculous to say that any
bank imperils money lent to a Catholic church in New York or Brooklyn on
a first mortgage? The fact is, such an investment is only equalled in
security by a United States bond; it may not be as easily negotiable,
but it is just as safe. It ought to cost very little more.
Public-domain text, read in full here on John Shaqi.
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