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Old 03-17-2008, 01:29 PM
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FL Woman Sues To Collect On 147 Yr Old Promissory Note

I think this is absolute bs...my opinion only. Sounds like somebody just trying to get rich the quick and easy way.

The great-granddaughter of a Civil War-era storekeeper in Tampa, Fla. is suing the city for a 147-year-old unpaid promissory note. With interest, the note is now worth over $22 million.
The financially-strapped city of Tampa, in need of ammunition during the Civil War, issued the note to Thomas Pugh Kennedy on June 21, 1861, the St. Petersburg Times reported Sunday. Kennedy's great-granddaughter, Joan Kennedy Biddle and her family are suing to collect the payment, plus 8 percent annual interest.
"This thing has been in the family since the date on the note, and it has never been repaid," Biddle, 77, told the Times. "My daddy told me, and I certainly believe him." more: http://www.foxnews.com/story/0,2933,338569,00.html
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Old 03-17-2008, 02:38 PM
Taximom Taximom is offline
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Well, they have had his money all this time. **shrugs** Too bad it didn't have a maturity date for the interest to stop accruing. I foresee a long legal battle with her dying before it's settled.

Legally though, was it repayable only to the owner? That could be the "out" for FL.
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Old 03-17-2008, 03:30 PM
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could pay her in confederate money...
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Old 03-17-2008, 05:02 PM
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LOL
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could pay her in confederate money...
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Old 03-18-2008, 02:57 AM
altruist1000 altruist1000 is offline
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Just saw something very similiar in the state of RI although it was issued in order to buy I think a state park & was for I think $1,000, the person who bought it at a yard sale donated it to a charity as it now has a present value of $25,000. The man bought the note for $1.50 at the yard sale. It cost him $1.50 & he now has a tax write off for the present value, so he does have the potential to financially benefit as well.
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Old 03-18-2008, 02:45 PM
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Well all I can say is Good Luck to this family*. This is just too funny.
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Old 03-18-2008, 02:46 PM
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could pay her in confederate money...
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Old 12-23-2013, 05:20 AM
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Or they could make a payment plan to pay a portion each year over the next 147 years.
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Old 12-23-2013, 05:29 AM
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Quote:
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could pay her in confederate money...
This reminded me of the Andy Griffith episode.
An old man held a note, but due to it being Confederate money, he couldn't collect.
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Old 12-23-2013, 07:26 AM
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If you follow the link to the Tampa Bay Times( at the bottom of the FOX article ), it gives the exact amount and the date that the promissory note was written.

"So it issued a promissory note for $299.58 to storekeeper Thomas Pugh Kennedy on June 21, 1861."

$300 with a whole lot of money in 1861. I can imagine that this might've created quite a financial hardship for the store owner. After all he had to pay for the guns himself before he sold them to the city of Tampa.
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Old 12-23-2013, 08:57 AM
kline kline is offline
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Quote:
Originally Posted by Tulessa View Post
This reminded me of the Andy Griffith episode.
An old man held a note, but due to it being Confederate money, he couldn't collect.
I was thinking of that episode too.
I think she should present the note to whoever is handling accounts payable and recievable for the Confederacy these days.
Show up at one of those Civil War reinactments and make them pass the hat?
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Old 12-23-2013, 09:21 AM
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You'd think by the age of 77, you'd mellow out a little bit.
Sadly, this woman seems to have become a shriveled up, materialistic, old hag.
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Old 12-23-2013, 09:34 AM
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I wonder how anyone knows that it wasn't paid?
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Old 12-25-2013, 01:04 AM
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Well if it was paid then it should have been taken back or have paid in full written on it.
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Old 12-25-2013, 10:59 PM
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Quote:
Originally Posted by White Rain View Post
I think this is absolute bs...my opinion only. Sounds like somebody just trying to get rich the quick and easy way.

The great-granddaughter of a Civil War-era storekeeper in Tampa, Fla. is suing the city for a 147-year-old unpaid promissory note. With interest, the note is now worth over $22 million.
The financially-strapped city of Tampa, in need of ammunition during the Civil War, issued the note to Thomas Pugh Kennedy on June 21, 1861, the St. Petersburg Times reported Sunday. Kennedy's great-granddaughter, Joan Kennedy Biddle and her family are suing to collect the payment, plus 8 percent annual interest.
"This thing has been in the family since the date on the note, and it has never been repaid," Biddle, 77, told the Times. "My daddy told me, and I certainly believe him." more: http://www.foxnews.com/story/0,2933,338569,00.html
If she is 77 years old, why attempt to collect it now and not years ago if this note has been in the family for 147 years? Did someone just discover it while rummaging through old storage boxes belonging to great-granddaddy???



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