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489 West [End?] Ave. Dec. 15, 1895
My dear Fred: I went to see Gillender this week, partly because Dennis wished me to, partly because I wanted myself to find out how things stood as far as G. Knows. I learn from him that Dennis has had all but - about - six hundred dollars of Aunty's legacy to him. The precise state of Dennis' affairs I don't understand.
2) G. thinks it would be wisest to divide the Palisade property as soon as possible. He says that Dennis
1 if he must raise money, can do so more advantageously on his third after division, than upon his third part in the joint property. Further, he says, as I think truly, 2 that Dennis, wanting money and being what he is, may, or rather might, go raising money outside on his undivided third, which in the hands of some creditors might much embarrass us as part owners.
3) I think Dennis is already inclined to a division. I am going to visit him, and when I do shall state 1 (above) as a reason important to him to weigh. 2 of course I shall not mention. Let that be between us.
4) Now, assuming division made, there are certain considerations for you and me to weigh first. Dennis is our brother, and though he can act independent of us, and many say probably act with folly, we cant ignore the duties of blood. We must try, as quietly and unobtrusively as we can, to keep him safe in his business matters, for the sake of himself and his family. Second There are strong reasons of policy to compel us to the same course.
5) Dennis's pay and family conditions - invalid wife and female child - we know. His prospects of increased pay by promotion are slim and distant. The only increase of income possible and the only provision for wife & child in case he dies, is this
Palisade property. If he could at once get $25,000 for it I should hope that even he might exert control enough to live on the interest. What I fear greatly is that, current income not meeting expenses, he may raise a little to day, and a little next year, using the loans up in current expenses until the whole disappears
6) There is, I fear, little chance of getting even $20,000 now, and what I also fear, and gather from his letters is that he has some thousands - say $3,000- indebtedness now & the interest on which would still more embarrass his small income. I may be mistaken on this, but I must reason on the belief
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