March 25, 1948
 
Messrs. James Roosevelt, Basil O'Connor
and Harry T. Hackett, Trustees,
Estate of Franklin D. Roosevelt,
120 Broadway,
New York 5, N.Y.
 
               Attention: Mr. Earle R. Koons
 
Gentlemen: 
 
     I would like to give you a full report to date
reguarding the sale of the remaining property of the Estate
of Franklin D.Roosevelt, Hyde Park, Dutchess County, New
York.
 
     As you know, I have discussed with Mr. Koons and Mr.
Hackett verbally the postponement of the private sales
campaign, due both to the weather and to the fact that the
market had fallen off considerablyy during the winter
months, and I did not want to spend the monies of the
estate unwisely. Becasue of the same factors, I would also
like to suggest that the auction sale be postponed until
sometime later in the summer when we have had an
opportunity to determine the interest that would be aroused
by the private sales campaign, at which time the course of
the market should be clearer.
 
     Before continuing with my report, I would like to go
over with you all the proposed restrictions which are to be
inserted into any deed to the Franklin D. Roosevdelt
property adjoining the historic site. The suggested
restructions which were proposed at an earlier date, I
think would be detrimental to the sale of the property. In
ther words, I am in accord that factories, manufacturing
establishments of any kind, machine shops, slaughter
houses, or public garages for storage and repair of
automotive equipment, should be in the restructions, but
trailer camps, tourist cottages, restaurants, inns,
attractive roadstands, and well-designed service stations
should be allowed to be built back of a line 100 feet from
the Albany Post Road. In my opinion, the erection of homes
along any main trucking highway is a thing of the past.
 
     After a careful examination of the marked conditions,
competitive properties being offered on the market, and
recent sales, it is recommended that the following prices
be considered as representing the fair value of the various
parcels being offered, and that any offer received
approximating these figures be accepted (Asking prices are
indicated in the descripions of the individual parcels).