147 years later, loan now worth $22.7M
2008/03/17/1559 by fumfRTFA: http://www.tampabay.com/news/localgovernment/artic…
Tampa issued a promissory note for $299.58 to pioneer storekeeper Thomas Pugh Kennedy on June 21, 1861. And his great granddaughter Joan Kennedy Biddle, 77, who has known about the note since she was a little girl, wants to collect with interest.
TAMPA - In the early months of the Civil War, the city of Tampa needed ammunition and other supplies to defend against attack but apparently was short on cash.
So it issued a promissory note for $299.58 to storekeeper Thomas Pugh Kennedy on June 21, 1861.
Kennedy’s great-granddaughter says the city never made good on its loan. Now, Joan Kennedy Biddle and her family are suing to collect the payment plus 8 percent annual interest.
The total bill: $22.7-million.
“Obviously we came at a bad time because the city seems like they’re trying to cut their budget,” she said. “On the other hand, they’re building the Riverwalk.”
I wonder how much this note is worth as just an antique collectors item.
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