Religion: O'Connell Crash

Daniel O'Connell (1775-1847), called "the Liberator" of Catholic Ireland, was a stalwart debater in the British House of Commons, a fine upstanding leader of the poor and oppressed Irish. After his death the name O'Connell was one for any Roman Catholic to revere. Would not an investment banking house named Daniel O'Connell & Co. sound safe? It did until this year.

Daniel O'Connell, at No. 580 Fifth Avenue in Manhattan, offered 10% on investments, 4% interest on all securities deposited as collateral. Many a U. S. Catholic priest, college and diocese did business with...

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