Letter, William Gleason to Kate Gleason
A letter to Kate Gleason from her father, William Gleason. William wishes for Kate to remain in school until the end of the present term so that she can finish the year with her class. After she returns home from college, it will be her brother Jim’s turn to attend. William provides a detailed account of business, including his recent purchase of the Wheel Foundry lot, which he had previously been renting. He is concerned that Kate might not approve of his actions and tries to convince her that he has made the right decision.
[page 1]
WILLIAM GLEASON,
Manufacturer of Machinists Tools,
OFFICE, BROWN’S RACE,
Rochester, N.Y., March 30th 1888
Dear Daughter
I received your two letters I found
the Papers where you mentioned they were. It is my
wish that you stay the term out I think that
your health will be benefitted by it besides it
will be more satisfaction to you to close with
the class with which you entered Jim will
commence to prepare as soon as you return
I will try and let him have two years
I am now going to make a statement that you
may not like but when you compare the
figures, I think you will approve off it.
Judson has bought the Right of Way and
the Water Right for $6750.
I am going to pay Kidd $5000, leaveing his
mortgage $16000 which he promises to place at 5pc
| Old interest | 1260 |
| New interest | 800 |
| ==== | |
| Saveing………………………. | 450 [note: this figure is wrong; the total should be 460] |
I have bought the Wheel foundry lot for $11000.
I pay $1000 down [illegible] at 5 percent as long as I like
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| I was paying Kidd | 1260 |
| ” ” Rent of W fnd | 500 |
| ==== | |
| 1760 | |
| I will be paying Kidd | 800 |
| Kidd Estate | 500 |
| increased taxes | 240 |
| ==== | |
| Old……1760 | | 1540 New |
| $220 |
two hundred and twenty less than I am paying at
present I tried my best to get a 35 or 40 ft
strip from them but they would not divide it
and you know that I could not sell to
Judson untill I was assured off a piece on
the other side. then there is the lot I may
be able to sell off a piece off it and by
haveing power to spare get a fair price for it
Mr [illegible] would take 2/3 off it but I dont want to
spare so mutch I would sell one half off it and
rent 20 horse power with it. I would feel very
badly if I thought you worried over this but think
of the situation I have increased the indebtedness
$5000, but reduced the Expense $220.00. I had 30 horse
power more than I could use on the property that I had
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the new property cost $11000 with out power.
With power added it is worth $20000. With Kidds property
reduced to a Savings Bank mortgage and by giveing power
to the new property it would be enhanceing its value
so that the debt all told is not more than a Savings
Bank mortgage on the whole.
Yours Loveingly
Wm. Gleason