Sunday, June 27, 2021

Isaac Sargent's Last Will and Testament, 1913

 

Isaac Bradbury Sargent, Manufacturer

Born October 1840 North Tamerton, Cornwall, England
Died  April 19, 1913, London, Ontario, Canada


The five pages below are certified copies of Isaac Sargent's will originally dated October 23, 1908, five years before his death.

Sons John, James and Albert, are named as the will's executors, noted as "manufacturers" as they had worked along side their father in the family business.

William Sargent, son is to receive $10 per week during the term of his natural life. William was afflicted with epilepsy and ultimately succumbs to the disease in 1920 at the age of 50 in the Woodstock Hospital for Epileptics.

The brothers are directed to pay their sister Elizabeth Flood $500.00 per annum without interest for 10 years following Isaac's death.

"All the business as now carried on, all the assets, book debts...including the real estate held by me in connection with the...business". As we know Isaac owned and operated his plaining mill on the corner of King and Adelaide streets from about 1884 eventually called Sargent & Sons.

The will lists the below properties owned by Isaac:

  • 2 brick cottages at 594 & 596 King Street.
  • 2 double framed houses at 379, 381, 383, 385 Adelaide Street (these I believe to be semi-detached or duplex homes).
  • The mill and mill site.
  • The machinery plant and equipment.
  • 905 Dufferin Ave.

Note that the location of the Mill and the above properties have all since been destroyed. Today London Police Headquarters stands on the site, more specifically the parking lot area.

"The sons shall not dispose of the mill and mill site without making provision and securing the payment of the weekly sum of $10 weekly to their brother William...and the sum of $5000.00 in 10 equal installments to their sister Elizabeth Flood".

The will goes on to make provision for Elizabeth to choose between two homes. "If Elizabeth releases her interest in the property 590 King Street then I bequeath her my property at 905 Dufferin Ave". From census records Elizabeth is living at 590 King Street with her husband George Flood, and 4 children during this time. By the 1921 census the Flood family is found living at 630 York Street a property not mentioned in the will, Elizabeth and her husband may have lived at either of the said properties and eventually chosen to move to York Street, not far from Adelaide and King. 

The residual and remainder of Isaac's property real and personal is to be divided equally between his 5 children.

"If the 3 sons who inherit the mill and business decide not to enter into an agreement or partnership then any share of the business in the absence of an agreement shall pass to their children."

It isn't difficult to understand the depth of Isaac's business and property from his will, 7 properties are listed as well as the planing mill and it's associated equity. Isaac had done extremely well for himself, after arriving in Canada 44 years earlier. 

To better understand the value of the inheritance you can use an inflationary convertor to gauge the contemporary value of Elizabeth's inheritance and it looks like this:

$500.00 per year = $11,262.00 today

$5000.00 lumpsum = $112,622.00 today

https://www.bankofcanada.ca/rates/related/inflation-calculator/

Did Elizabeth receive one quarter or one fifth the value of her father's estate, or just a lump sum value that her father thought was fair. Isaac's estate appears to have been substantial, although it's unclear what happened to the wealth as it passed through to the next generation. 










 

In previous posts I have shared some of the fire insurance plans for the King and Adelaide area showing the Sargent & Sons Planing Mill. I have included the 1915 plan below. King Street is along the right side and Adelaide along the top. You can see the homes listed from the will, 379, 381, 383, 385 Adelaide in yellow and 590, 594 and 596 King Street on the right side.


By 1922 fire insurance plans show that the business and mill cease to exist.



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