Lizzie Borden Society Forum

Fall River Daily Globe, Friday, August 5, 1892 Page 7 HEW

"Property of Deceased

Various estimates are being made regarding the extent of Mr. Borden's wealth. The assessor's books show a total valuation of local real estate owned by him of $173,650. The A.J. Borden building is valued at $45,000. The latest purchase was the Birch property on South Main street valued at $23,000.

He also owned the property on which the McManus and Fielden stores are located and also a vast amount of smaller lots in different sections. His personal estate is valued at between $175,000 and $250,000. When the Globe Street Railway changed hands he was in possession of a large block of stock for which he received $200 per share. Mrs. Borden owned her father's homestead on Fourth street in connection with her half sister Mrs. Sarah Whitehead. Miss Emma and Lizzie Borden are taxed for an estate on Ferry street valued at, $5,650.

--I had read in many places that Andrew got the better of the Ferry Street deal when he gave the girls a total of $5,000 for it the month before he was murdered. Charles Cook says in his Witness Statement that Lizzie came to see him about the worth of it. Now the papers have made a stab at an inventory of Andrew's property and for taxation that property is already valued at $650 more than the girls were paid. It's even possible that the valuation for taxes was a percentage lower than an actual sale value? It might have fetched even more? Did they get "took" after all?
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A question also about the "Newly Acquired Property On South Main Street:"

Fall River Daily Globe, Friday, August 18, 1892 Page 7 HEW

"(Real Estate Column)


Some months ago it happened to be the duty of the Globe to reflect some sharp public criticisms on the character of the improvements that were being made on his then newly acquired property on South Main street. Meeting the writer a couple of weeks afterward he bade him sit down in a store not many rods distant from his home and proceeded to give reasons why he thought his course was a proper one.

At the conclusion of a long and deliberate conversation he exacted a promise that nothing should be said of his opinions in the papers that would in any way be taken as a justification to the public of what he considered to be his own personal and private affairs. He held that it was not wisdom on an old man's part to erect costly buildings in a section where he could not see a substantial return at once, and it was very unwise for an old man to mortgage property and hire money, if his whole life policy had been against such a procedure.

He would not say that the policy of turning money was an entirely bad one but he had found in his successful business career that the man who didn't borrow lived the most contented life. Consequently he did not propose to change his business habits to conform with public opinion although he was willing to concede that much of the criticism was warranted by the superficial conditions.

It was a hobby of Mr. Borden's later life to make Second street a business highway to run parallel with Main street. With this end in view and while discussing another matter of interest to Second street people, Mr. Borden asked the writer's opinion of the wisdom of erecting a substantial brick building at the corner of Second and Spring streets.

'I could secure tenants readily for two floors, but it wouldn't be just the thing in my mind to leave a third floor for hall or dancing purposes. Second street will eventually become an overflow business highway, but it won't be in my time. I don't like to move off the street in my lifetime and dances wouldn't be just the thing I'd want around me in my sleep.' "

--Does anyone know what plans these were and to what they refer?
And why would the public make a criticism? This sounds like what still goes on in Fall River!

Also a comment: This states that Andrew Borden said "I don't like to move off the street in my lifetime."
So much for the rumors supposedly from the girls that they begged him not to make improvements to the Second Street house because their father was planning a move to the Hill.
This also sounds like he did not care what Abby and Emma and Lizzie did after he was gone. Andrew didn't leave any instructions that we know of on how to administer his holdings- my sense is that he knew he couldn't control things from the grave. I just hadn't thought of him like that before.

Good points Kat. The absence of a will sure makes Andrew look like he didn't care what happened to his properties.

A major portion of his wealth was in real estate. Without a will, Abby, Emma and Lizzie would have been joint owners and considering the animosity between the girls and Abby someone would have had to buy the other party out. The bonds and stocks that he owned could easily be divided and the owners go their own way but not the real estate.

You have to wonder how much Lizzie and Emma really knew about his holdings. Lizzie in her inquest testimony lists a few but she was in a position where she did not want to appear to know too much.

I don't know what the Birch property was that he acquired for $23,000. That's a goodly sum in 1892 (worth over $400,000 in today's dollars) so it was no small acquisition.

I have no idea how property was taxed in 1892 in Fall River, but today property in normally taxed using a value below actual worth.

Since the girls didn't pay anything for the Ferry St. house they actually made out okay. Not only that but they would get it back on Andrew's death.

***Not only that but they would get it back on Andrew's death.****

I believe that's what they were counting on, Harry -- making it pay twice. I wouldn't be surprised if Andrew "rounded down", knowing they got it free in the 1st place.

& good for you, Kat, putting to rest that rumor Andrew was planning to buy a better house.

For those of you who might be unfamiliar with this aspect of the case, here is the citation- which comments followed the reporting of a *news interview* with Lizzie while in jail:

Lizzie Borden: A Case Book of Family and Crime in the 1890's, edited by Williams, Smithburn and Peterson, T.I.S. Publications, 1980

Page 130 [Headlines]

"New York Recorder Interview

September 20, 1892

IN A NEW LIGHT

Lizzie Borden in Jail Awaiting Trial

How She Appeared to a Recent Visitor in Her Cell

Feels Badly Over the Talk that She Shows no Grief."

133
..."The reason the house was without such conveniences was that the girls desired Mr. Borden not to make improvements, because he was talking of moving up 'on the hill.' Fall River's aristocracy live 'on the hill,' and Mr. Borden had declared to real estate agents that he was looking for a house in that section and that, although he would just as soon live in the old house, the girls desired to move and he wanted to gratify them.

He said that over a year ago to a well-known real estate agent, who had it in mind and was looking for a bargain for him.

More than that, he had offered $15,000 for a handsome house on Main street, that had just been sold, and found that his namesake, a prominent mill Treasurer, was also trying to buy it for the same sum. He told him if the younger man would get certain land at a bargain he would take half of it, and the two Andrew Bordens would build houses alike and live side by side. This was a few months ago. Naturally anyone who contemplated buying a new house and removing to it would not fix up his old house, which was in a district of tenements, as he would if he intended to remain in it

When Mr. Borden wanted to put in modern improvements, the wife and daughters said they preferred to stand it rather than have the house torn up for piping.

This does not indicate that Lizzie Borden's father was niggardly in his dealings with his family, thereby arousing the girl's indignation and supplying her with a motive for a brutal murder."

I wonder if this real estate agent was ever sought out and questioned on this point? Wasn't there something also with Maplecroft? Something maybe about Andrew having already put money down on the house?

Yea, but where?

Oh you know, I think that was dubiousmike!

You know, Kat, it may have been? I recall reading it and associate it with the forum, something someone posted awhile ago. If it was Mike, do you recall what his source was for that info?

Yes, that was Mike. I kind of called him on it, quoting the Maplecroft research in Rebello. (It did not match the story). I also remember someone on the darkrose forum had been on the Maplecroft tour in 1992 & the owners had said Andrew had planned to buy Maplecroft for the girls. Perhaps it was a myth that started from that NY Recorder interview (or the subsequent Casebook). My gut sez that original info was "planted" by the defense (or even one of the girls?) to the press to try & weaken any suspicion of Lizzie's motive. It has the same "smell" as interviews Lizzie's friends gave (listed in the Sourcebook articles) telling about Lizzie's **happy loving family** tales she told to them.

Yes it does sound like that. By September 20th, 1892, not much was happening until grand jury time in November and you know how the press was trying to stir things up- like Mr. McHenry within a few weeks.

I had asked around (when I make calls I usually wait until I have a list) about the possibility of Andrew putting the down payment on the French Street property and the notion was not in favor, nor was there a source to confirm it.

Thanks Tina-Kate and Kat. I've tried searching for Mike's original post and can't locate it, I was just curious as to exactly what he had said in connection with Maplecroft.

He was quite interested in the Rebello notes & confessed most of his info was told to him by his dad. Can't remember the title of the thread, but I know it had "Maplecroft" in it. Re-reading my post above, I suppose it was very early to call Lizzie's side "The Defense", however she was in custody by that point & heck, those girls didn't waste any time filing for probate!

To clarify (I'm altogether too out of it these days!) -- they knew what they were doing & obviously had legal council right away. That reward money offer has the same sort of tone...their "defense" knew how to do P.R.

Check for a Topic called "Movin' On Up."

Thanks again to the both of you for the help. Lets see what I can go find out about what he posted.