'Geo', George Liberty Shutts, wrote this letter to his cousin, my grandmother, 'Olive' Letha Rose Schnack. 'Harriet' More Burgett was the daughter of 'Aunt Alice', Alice Estelle Clayton More. 'Seward' Hager Burgett was Harriet's husband. 'Uncle Owen' Wickes More was Olive's grand uncle. 'J.P. More', I believe, was John Person More, my 3rd great grandfather, and father of Owen Wickes More, and grandfather of George Liberty Shutts, the author of this letter. 'Lucy' Cook Shutts was George's wife.
The 'Strauss Co.' that George writes about, I believe, is S.W. Straus & Co, which was a well known and respected real estate bond broker. The financing of large construction projects by these means was fairly new and not regulated. By the late 1920s these means were being scrutinized. And, by the mid-1930s, S.W. Straus & Co. had defaulted on $214 million in bonds. An estimated 60,000 people lost their investments. http://nexus.som.yale.edu/qn/content/what-used-be-new-capital Perhaps George and his potential heirs were among those unfortunate investors.
Owen Wickes More died 15 November 1931.
Seward Hager Burgett died 17 January 1932.
Lucy A. Cook Shutts died 21 September 1932.
Alice Estelle Clayton More died 16 December 1932.
31 Newhall St.
Springfield, mass.
Jan. 15, 1933
Dear Cousin Olive,
Thanks for your good letter containing receipt for the Irish quilt bequeathed you by our dear departed Uncle. How fortunate for him that he did not live to know that the years of saving he enjoyed so much with the Strauss Co. was a colossal failure. There doesn't seem to be anything that can be done to settle the estate, for many of the bonds are valueless and no one wants to purchase any Strauss Bonds at any price. There is too much risk.
How the ranks of our dear ones who were together at Harriet's home in 1931 have decreased. Uncle Owen, Seward, Lucy, and Aunt Alice have all joined the ranks of the departed. Such is life. I attended the funeral of the husband of one of Lucy's dear friends here in Springfield today. Two weeks after Lucy's going, her only living sister passed on, so that all her family are gone. Aunt Alice was the last of that generation of the J.P. More family. So, we are all going
on to the journey's end.
I am well and very comfortably located in my own house, which is occupied by a family who rent the house and care for me. I hear from Amanda and Mary Miller frequently, and a goodly number of relatives and friends. I appreciate your expression of sympathy and very kind invitation to visit you. I might get out in that part of the world again some time, but can't make any promises. I am glad to be employed and able to do my daily stint.
I hope you and your growing, active, and interesting family keep in good health and have a comfortable degree of prosperity.
As ever yours,
Geo L Shutts
P.S.
Dear Cousin Harriet has my heartfelt sympathy.
