Wednesday, 9 December 2015

9th December 1935 - Terrick to Mary

35 Nevern Place

9th December 1935

My Darling Mary,

Uncle Bill's letter arrived this morning.  The first paragraph ends: "I have studied your business proposition an I am  willing to provide the £300 required"  you could have knocked me down with a feather if I hadn't been in bed.  He went on to make queries for two whole pages and ended up: "Anyhow if after consultation with your lawyer [I told him I should put the case in a lawyer's hands] you are still convinced it is a good business you may rely on me to produce the £300.  Isn't he a sport!

But, here comes the anti-climax, dear.  I am not going on with it, because I have discovered the snag.  Though the advertisement and the agents leaflet talks about "Purchase price £900" - there is a rent of £275 per annul in addition.  I had to get the agent to explain it several times over the phone before I understood this apparent contradiction in terms, and he could have put it quite plainly the fist time if he had wanted to, because it is quite simple. £900 is the price of the flatlet business. £275 per annum is the rent of the building.  So that's off.  The net profits at their maximum only come to £320 per annum plus £60 for my living rent & fare free.  I should never be able to pay off Uncle Bill & the mortgage and do repairs at that rate.

The only way to do it is either to buy a leasehold flatlet business on a long lease or free-hold, or just buy a house and start the flatlet business in it.

I have gained a lot of useful knowledge about house buying since this time last Monday night when I saw the advert, and, better still, I have found out that Uncle Bill will put up several hundreds for a reasonable proposition.

I am sorry, my pen has run out.

I am afraid I shan't be able to let you know for some time about doing the door on Friday week would this Friday be time enough.

After dinner I went round to Renny to tell him the latest news and found that Nancy was there.  They were playing "L'Attaque"!

If you hear of any good spec going, don't forget to let me know.  My old difficulty of no capital doesn't exist any more.  The job of having to prove the enterprise sound first in order to get the capital is just the brake needed.

Tomorrow fortnight I shall go to bed in my room at Wensley.  it is so lovely waking up in the country.  Especially at Wensley where the view out of the window is so peaceful and sedative.  It is a year since I have been there.  Next time we shall be engaged and go together.  Probably for my next holiday.

The post goes in quarter of an hour so I must stop.  I have only half concocted my letter to Uncle Bill.  I am not telling him the exact reason for my not thinking the business worth going on with.  It sounds too much the kind of thing I ought to have seen at once.  Live and learn.  I am glad I did not find out before writing to him.  It comes of being form lucky.

Goodbye, my darling, till Wednesday at 5 o'clock.


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