Franklin Associates (Lawrence, MA)

franklinThe bound report “Properties of Franklin Associates” was created by John H. Cuddy, Jr. another realtor and insurance agent in Lawrence. A letter included in the report states that a schedule enclosed and made up by Mr. James E. Early, Jr., an engineer employed by O’Brion, Russell & Company, gives the value of the properties. The schedule includes the present value of said properties, amount of fire insurance now carried, and excess coverage (considering the drop in value). There are also list of first and second mortgages, interest and taxes due, and other costs. The general recommendation of the report is to get reductions on the first and second mortgages, reduce amount of insurance carried, reduce taxes, and sell off thereof the properties (260-262 Essex St., 369-375 Essex St., and 509-515 Essex St.).

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