2. On April 13, 1950, l10 shares Capital Stock of National
Steel Corporation, par $25, were exchanged for 330 shares
Capital Stock of said Corporation, par $10.
 
    3. On May 26, 1950, $25,000 State of North Carolina
Secondary Road Bonds, 1 1/4% due 1/1/57, were purchased for
$25,005.
 
    4. On May 27, 1950, the Washington Hollow property held in
trust by John E. Mack for the trust and Henry Morganthau,
Jr. in which the trust had an undivided onehalf interest,
inventoried at $1,350 was sold at public auction by Joseph
P. Day, Inc. resulting in net proceeds to the trust of
$3,454.71.
 
    5. On July 17, 1950, $25,000 Oklahoma City Various Purpose
General Obligation Bonds, 1 3/4% due 8/1/58 were purchased
on a 1.50 basis in accordance with the recommendations  of
investment counsel. (The City Bank Farmers Company has been
instructed to sell United States Treasury Bonds, 1 1/2% due
12/15/50 in an amount sufficient to provide the necessary
funds to consummate the purchase when the Bonds are
delivered).
 
    6. On July 26, 1950 $55,000 United States Treasury Bonds, 1
l/2% due, 12/15/50 were sold to provide cash to make the
payments directed in the intermediate accounting Decree.
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