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 Some Notes on Early Transfiguration Finances

 

Occasional Papers  57

When Edward Southwell was pursuing in the early 1900's his plan of separating Our Lady of the Scapular, Manhattan, and Transfiguration, Tarrytown, from the Irish Province and joining them with one or two houses of the American Province to begin a new province, he felt it important that his name be listed among the trustees of the Tarrytown property.  Were he not listed as a trustee then he might have a legal problem transferring the title of the property to the new entity he was hoping to establish.  Southwell knew from the foundation of the 28th Street parish that the Archdiocese of New York demanded that each church and its property be registered in the corporate title of the parish.  Somehow he was able to avoid this at Tarrytown presumably to achieve his separation plan.  The Tarrytown property had originally been bought by lay people so that the seller would not inflate the price should they know it was being purchased for a church.  These purchasers transferred the title to individual Carmelites who in turn transferred it to The Missionary Society of Our Lady of Mount Carmel of which Southwell was a trustee. 

That is how the property in Tarrytown was held by a Carmelite title and not in the name of the parish corporation.  This fact came to the attention of the archdiocese by the application for a loan for the addition to Transfiguration School in 1999-2000 and they effected a change of title to that of the parish corporation. 

Just before the completion of the original church at Transfiguration in October, 1898, the Carmelites borrowed $35,000 on September 19, 1898 from Mutual Life Insurance of New York.  Interest was 5% and payment dates were the fifteenth of March and September (Lib 1212, p 225). An indenture was signed the same day placing the parish=s property as collateral for the loan.  In addition, Archbishop Michael Corrigan signed on the same day a bond for $35,000 that was also collateral of the loan.  This indicates that Corrigan was aware of the Carmelites use of their corporation, The Missionary Society, as owners of the Tarrytown property.

By April, 1919, the original loan had been reduced to $22,000 and probably at the initiation of Patrick Cardinal Hayes, the Archbishop of New York, a new loan was made with Mutual Life Insurance in the name of the cardinal.  The interest remained at 5%  as did the payment dates.  The point of this seems to have been to remove the Carmelites from the liability of the original loan and made Hayes and the parish responsible.  This loan was finally satisfied in January, 1938.  At 5% interest for all those years, Mutual Life certainly profited. Money was sent from Our Lady of the Scapular to Transfiguration for debt reduction.  In a letter to Pius Mayer, the Prior General, Edward Southwell, then the Irish Provincial, mentioned this because he wanted more money to go to the Irish Province for its debt reduction rather than for that of the Tarrytown parish.  This is the first indication we have of the dependency between the two parishes.

When Paul O=Dwyer was the 28th Street pastor in 1911, he stated that the indebtedness of the Tarrytown parish to his parish was $19,000 but he reasoned that the debt was $21,000 since nothing in interest or principal had been paid.  Southwell had put the debt at $23,000 at the 1906 Provincial Chapter.  O=Dwyer through his own calculations showed that in 1911, $43,000 was due to the Manhattan parish by Transfiguration.  The financial picture is contradictory and confusing due to interest calculations and incomplete records but the bottom line was that Tarrytown was part of Our Lady of the Scapular or at least a daughter parish whose original funds came from the mother house.           

A document of 1913 has this Tarrytown debt listed as $29,000 but had the good news that the debt on the priory of $7,800 was liquidated.  The debt on the church was $31,500 having been reduced from $39,000.  The four year period of 1909-1912 saw Transfiguration=s deficit of its mission in Elmsford being from $6,500 to $7,776 annually.

When Edward Southwell was the pastor of Transfiguration in 1917, he stated that Tarrytown=s debt of $23,000 was being paid off at the rate of $2,000 a year.  Southwell, who had made the original purchase and church construction, listed this cost as $60,000.

What further complicates an effort to get a handle on these finances is that in 1932 the Carmelites province loaned $19,042 to Tarrytown and $8,000 more was loaned in 1937-1938. Existing reports after these dates show payments being made each year.

The early finances of Transfiguration are confusing but one thing stands out: Transfiguration was financially dependent on Our Lady of the Scapular.  There are few records but it seems that running expenses and other funds for the Tarrytown parish came from the Carmelites= Manhattan establishment.  I feel that Cardinal Hayes= action was an attempt to break the hold of one parish on another and make Transfiguration truly independent.

 

Alfred Isacsson, O. Carm.

 


 


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ABOUT THE AUTHOR
Fr. Alfred Isacsson is a retired Carmelite priest who spent his ministry in teaching, parish work, vocation recruiting and school administration.  He has written books on Carmelite history, Dr. Edward McGlynn and John Surratt.  Arrticles he has written deal with Lincoln's assassintion, Carmelites and the Irish Freedom Movement. He is currently working on articles dealing with these same areas.

 
   

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