The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1907-12-17

500; Kamaka, $500; John Keaweha-
wall, $3.50 (S100.67 paid); Solomon Ma
helona, $4,000; j. Lightfoot, $3.50 first
mortgage; J. Lightfoot, $500 second
and first mortgage combined; j. &. Ka-
anaana, $500 1898 paid; Mary Ann
Perry Kaloaamaikai, $1,000 (replacing
mortgage of $225); H. T. and Eliza
beth Walker, 5000; Caroline Tranquada,
1925; Kaauaua, 1925; Robert Lishman,
500; r. Wassman, 1925.
Each of the foregoing was assigned
by Magoon to Magoon, trustee, but the
assignment in no case has been re-
corded
In some instances it is pointed out
that Magoon himself carried the mort
cages from one year to several years
before assigning them to the Blaisdell
estate. Interest is delinquent on some
mortgages for years.
In one or two cases the money was
paid out of the Blaisdell estate some
time before the date of the mortgage.
INVESTMENTS BAD.
The master in a number of instances
reports that the investment is bad and
recommends that Mr.. Magoon be re-
quired to take over the mortgage him
self.
Under the head of real estate the
master continues his disclosures.
There was mortgage by James Carly
of Palolo Valley property and Rich
ards street leasehold, to j. Lightfoot,
guardian of the minor children of James
A. King. 1t was for $4,000 on the for
mer and 5000 on the latter, total of
$4,000, and the mortgage was dated
April IL, 1901. On June Is, 1905, Light
foot, as attorney for Magoon, trustee
of the Blaisdell estate, made affidavit /
of the sale of the premises described
under foreclosure to j. Alfred Magoon
for $2l25. There is no record of the I
assignment of mortgage by Lightfoot to
Magoon. The cash for the mortgage |
was paid out of the Blaisdell estate |
April IL. 1902. The assignment is in |
the office of Magoon and dated August |
80, 1904, two years and four months
subsequent to the date on which the /
cash was paid. There is no foreclosure
deed of record conveyingito Magoon the
purchased by him at the
sale. The lease in the mort
to run at an annual rental of $3.50. As
security under mortgage the master
considers it has little or no value, the
reverting TO the lessor
at expiration of lease.
"The estate derives no benefit from
this lease, although the American Sta
bles is occupying the premises and con-
Quoting business thereon the master
says.
"Why was this mortgage transferred
to the J. L. Blaisdep estatei Was it
because j. Lightfoot, guardian of the
minor children of James A. King, wish
ID to avoid foreclosure proceedingsi
81 do not think this mortgage was ;
secured, and / therefore
recommend that SIR. Magoon be requir-
ID to take over this property
Land taken over for Maud Alice
1rabbe mortgage, put down at $4,000,
$ discussed. The money was paid out
# the estate Oct. IL, 1904, while the ,
hree-year mortgage to Magoon was
lated January 4, 1904. ,
Land at Pauoa. taken for $3.50, went
through process of mortgage similar
o the cases above described. !.
Finally the Rose Ladd properties are ,
Considered. There was a mortgage for ,
5000 to Magoon dated March 6, 1902. :
lagoon had been carrying a mortgage :
n the property for eight years, before
making this new mortgage which he
urned over to the Blaisdell estate.
here are several mortgages of record
nreleased prior and subsequent to this I
5000 mortgage. The original mortgage {
o Magoon in 1896 was for $4,000, and
he master asks why was it increased,
Iarch 6, 1902, to s6000 "Was it so
hat Rose and Sam Ladd could pay {