Bishop of Leeds Plans to Replace Temporary Borrowings
From Our Own Correspondent
An appeal from the Bishop of Leeds was read throughout the diocese on Sunday last, outlining a very important change in diocesan finance by replacing temporary borrowings by fixed loans.
" With a view to effecting substantial diocesan financial economies 1, as Bishop of the Diocese, along with my Finance Committee, am carrying through a reorganisation of the finance of the Diocese. In order that the fullest benefit may be obtained from this reorganisation, it is necessary for the Diocesan Trustees to replace certain temporary borrowings with loans of a somewhat greater fixity of term."
The Diocesan Trustees, said the Bishop, were therefore, prepared to accept sums of £100 and upwards on loan, and all those who were prepared to make such loans could obtain particulars and application forms from any parish priests of the Diocese, Sound Finance
" The financial position of the Diocese," the Bishop went on, " is sound. The security being good and the rates of interest offered being favourable, T appeal to all those who are in a financial position to do so, to come forward now with applications for loans. In doing so, they will have lost nothing, from a business point of view, but will, as Catholics, have rendered assistance to the Diocese."
The lijahop thanked the faithful for their support in the past; " their neverfailing help has contributed in a large measure to the present healthy condition of the finances of the Diocese."