| Chapter Six --- The Farm Conditions | |
HE Price estate still holds the mortgage of six thousand dollars on the farm. After all the buildings except the chicken coop had been burned, the administrators called the insurance company to get an adjustment for the loss. They found that Kehoe had let the insurance drop, so there was no insurance at the time. Last year, 1926, he paid his personal tax, but did not pay his real estate tax. The way the law would look at it, the farm will go to his estate, by presuming that his wife died first. When the year arrives from the time the foreclosure proceedings started, which was some time before Kehoe's death, there will be six thousand dollars principal, considerable interest and two years' taxes.
This is a mighty blow to the Price estate,
as this amount is only about one-quarter of what it will take to replace
the buildings.
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