frank and hilya

 

Hilya was Frank’s executor and it took her a while to sort out his affairs. In the end the inventory of his property listed:

120 acres [with buildings] subject to mortgages approximating $4180.00 and valued at $2320.00.
1 acre on Blood St. valued at $500.00.
A house subject to a mortgage of $3,000, valued at $500.00.
Another lot, about 10 acres, with a mortgage of $3,000, valued at $1.00.
His share of the Beckett Hill Corp., valued at $1.00 because mortgages exceeded value.
Share in the R.A. Deel Corp., valued at $50.00
An automobile, Plymouth business coupe (1939) valued at $450.00

 

On Oct. 23, 1933, Dr. Mackeown, the major investor in the Becket Hill Corporation, had written to Frank:

I wish to draw your attention to the fact, that our contract has about three quarters run out, and owing to the depression you have not been able to do what you reasonably intended to do. Namely to have the club house as your own house in your own name. I would emphasize the importance of your making every effort to accomplish what you have had in your mind for a year or two and have suggested to me, that you purchase the club house for your house and take title to same, thus separating it from the rest of the property for I am now passed my 76th birthday. I do not know what disposition my heirs would make of the property. This is very important to you, don't put it off.

The transfer of 120 acres, including the Club House, finally took place a year or two later, although it was heavily mortgaged and subject to a complicated payment plan. After the estate was settled, Hilya was able to trade Frank’s 51% share of the Becket Hill Corporation for the mortgage on the 120 acres, thus securing the property, debt free, for her daughters.