.....Many American last names were phonetically interpretive before the record laws took effect in the early 1900's. Record researchers run into this alot (example Smith, Smithe, Smythe) The finalization of grammatically spelled last names during the turn of the 19th/20th century was effected by Federal Law. The odds are very low, given the place, relation of Fred to both Catherine Dolan and Augustus and demographics for that time period that they are different people.
Besides, both Fred's have the same birth year and parents, not to mention the same hometown.
That said, you've found your Freddie/Fred E.
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