1953: McFadden's death (1 of 2)

Episkopi

4 May 1953Dear Fro:

I assume that by this time you know the contents of George's will, and also that the will of which Mr. Hill found a copy here, dated October 1950, was the latest and valid one. Emily gave him permission to read it and to pass on the contents as far as they affected the two museums to Megaw and myself. You will no doubt get a longer and more detailed account from Mr. Hill in due course; I will fill in with such details as may not be available to you there.

The stocks here consist of: 390 odd shares of stock in the Passouri farming project, par value 3 pounds each. Also five shares preferred or founders' stock, of which we do not know the value. Mr. Hill has found the certificate for the common shares at least. It is considered a good investment and the records show the annual income from the lot to be 120 pounds plus. Total value something over 1200 cyprus pounds or $3500. 1000 shares Cyprus Airways stock, par value £1 each, present market value unknown, has been known on rare occasions to pay a dividend. Certificate not yet found. Face value £1000 or ca. $3000. There may be another small investment, not yet known. Somebody will have to see to the transfers of these stocks to the Museum or sold as xxx seems advisable. Apparently there are no strings attached; they can be held or sold as seems advisable. [handwritten: Think local advice should be taken, rather than that of a Philadelphia bank.] Amount potentially available from stocks, ca. $6500. Direct legacy by will to Museum from Curium $10,000. Total $16,500.

The assets (i.e. personal property) in Cyprus are not specifically mentioned, but it is assumed they will come to the Museum, and Emily is in agreement. These include the Curium account in the Bank, which now has in it about £800 ($2400, and and personal account of about £2-- or $600 = total $19,500. Two cars, of which one should be kept, the other sold; two horses and the five dogs, which will be disposed of by sale. Perhaps another $1000. In round figures, $20,000 plus or minus.

Megaw is almost certain that the Cyprus government will accept the property; and he will make out a lease to the museum of the house, rent free, for as long as we recommend. During this period the antiquities department will be responsible for repairs etc., the museum for service, i.e. guard, gardener, etc. It has always been the hope of George that the large orchard of citrus etc. would eventually go far to pay for the upkeep of the place; but as this would need constant care and supervision, we felt that our museum could not undertake it, and Megaw is willing to lease us the rest remain under his jurisdiction. Eventually the citrus might in part pay for the upkeep of the property, and let the rest be allowed to revert to Kourion museum, which would have the right to sell it. But that is problematical.

This seems an adequate amount for finishing up the work here in a decent way if it is done expeditiously and efficiently. We both feel that we should try to do it this coming year in one big burst rather than let it drag along with inalienably increased overhead. And we do not think that publication costs should be budgeted against this sum. Rather let us pin our faith to the Philosophical Society for publication grants; if there is a balance when field work and research have been finished, it can be applied to publication.