[D8541Q], Letter from Samuel Insull to Joseph Insull, July 2nd, 1885
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Title
[D8541Q], Letter from Samuel Insull to Joseph Insull, July 2nd, 1885
Editor's Notes
Received your letter of June 23. You must excuse my answering it by stenographer, as I am very busy and leaving town for some days. I fully approve of what you have done in relation to the matter of the farm. Cannot you arrange a mortgage which you will have the right to take up say at the end of three years? If not, it is not of very great moment. The rate of interest is, as you state, very high, but inasmuch as I have not got the money to give you, and even if I had it would be worth more than 8 or 9% to me, I think that the best thing you can do is to mortgage the property, pay off your debts, and have a little balance to work on. Doubtless by the time that is gone, I shall be in better shape myself. The interest annually will be a small amount and I will have care of it if the business cannot. I got a long letter from home the other day, the first in two or three weeks. Everyone seems well. ##Matters with me are improving somewhat and I think by the time 1886 comes around, I shall be fully on my feet again. Write me in detail with relation to the farm and prospects of your crops and what you expect to realize on them and how long you think it will keep you going, and do not fail to let me know immediately if you manage to close the mortgage. If you do, do not fail to pay up your debts immediately, as your credit will naturally be affected as soon as anyone has a lien on our property. Do you not think that it is about time that we had some deed fixed up by which my interest in the business is clearly defined? If you were not married, I would not be so particular about this, but under the circumstances and inasmuch as the money I have already sent you is of great moment to me, considering the losses I have made in the last year, I think I ought to have something to show that I have a little property somewhere. I have sent you a whole batch of newspapers and magazines today, including the summer number of the Illustrated News. You will find a very good novelette by Brete Hart in it. I will see that you get the magazines more promptly in the future. Have you been receiving the NY daily papers pretty regularly? My clerk says that he has sent them. Mrs. Johnson presented her husband with a boy about a week ago. Of course, they are all just tickled about it. I will not be able to get up to see you this summer, the only reason being that I cannot afford it. If I do not go home next Christmas, we must try and manage to spend Christmas together. I hope your children are all right and that there is no immediate prospect of another one coming along! Big families are expensive.
Author
Recipient
Date
1885-07-02
Type
Folder/Volume ID
D8541-F
Microfilm ID
78:382
Document ID
D8541Q
Publisher
Thomas A. Edison Papers, School of Arts and Sciences, Rutgers University