The True Ballad of Fall’s Blessings

The death of Old Man Hennessey leaves his daughters Caroline and Elizabeth with nothing but three items of little apparent value to save their farm and boarding house from financial ruin.
Why is Mr. Parker so keen to acquire the watch, the compass, and the coin that Old Man Hennessey left behind?
How far will Phineas Waterman go in his quest to retrieve these items for Mr. Parker?
And why do these seemingly innocent items have such a profound effect on the lives of young Joe Young and Jacob Fairfield?