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Like many immigrants to this country, Anna Tirocchi felt strongly about saving and investing her money to establish a base of security and respectability. She told her niece Primrose that other dressmakers in Providence had gone bankrupt because they had not invested their money. Anna’s investments were also a hedge against hard times in her business.
Anna also invested in Italy, purchasing Italian bonds and loaning money to business men in Guarcino - Agnello De Meis and Giovanni Castagnacci - who produced felt and hats of straw and wool. But the loans were often not repaid and the bonds were worthless after World War II. Anna managed her other investments along with her shop business. The shop’s bookkeeper kept track of rental income, lease hold payments and taxes due, capital improvement expenses for the real estate properties, all the books for the shop, and household expenses for the family. The business home at 514 Broadway was treated as a whole and essentially run out of one office. Dr. Cella apparently submitted payments for his share of expenses - household and investments - directly to the bookkeeper, for one note has been found that accompanied a payment directed to the bookkeeper "so as not to disturb Miss Tirocchi." Tax records seem to reflect casual and erratic record keeping and inconstant reporting, but Madame Tirocchi did survive two audits without additional tax or penalty.
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The STORIES
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