The following items of expenditure were unanimously approved
and checks in payment thereof signed by the Trustees:
 
        1. Principal Charges
 
           (a) Joseph P. Day, Ins. 5% commission
               on sale of real estate to Val-Kill
               Co., Inc., as per agreement .......... $5,750.00
 
           (b) Frank S. Hopkins for furnishing
               certified survey map to Title
               Guarantee and Trust Company .........      48.50
 
           (c) O'Connor & Farber, disbursements
               as per statement .................        355.07
 
               For legal services in connection
               with sale of East Tract... 4,500.00     4,855.07
 
        2. Income Charges
 
           (a) Willis & Christy, one-half of in-
               vestment counsel fee for period
               November 1947 to November 1948......    2,833.00
 
           (b) City Bank Farmers Trust Company,
               Income Tax Services ................       20.00
 
           (c) Florence Kipp Tax Collector, for
               Hyde Park fire taxes for fiscal year
               beginning July l, 1948.............        28.00
 
           The present method of handling the Trust Estate through the
medium of the Custodian Account at City Bank Farmers Trust
Company with the advice of Willis & Christy as investment
counsel was reviewed. Although it was unanimously agreed
that the present method of handling the securities has been
very satisfactory and has been approved by the life tenant,
the query was raised as to whether or not a change might be
desirable which would be more economical and at the same
time just
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