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                 -132-
             NCFA
           PURCHASE - TRUST FUNDS
                 1978

ASHER B. DURAND      [[underline]]Dover Plain,[[/underline]]  $250,000.00     oil on canvas
                     [[underline]]Dutchess County,[[/underline]]
                     [[underline]]New York[[/underline]]

GEORGE HENRY DURRIE  [[underline]]Winter Scene in New Haven,[[/underline]]    oil on canvas
                     [[underline]]Connecticut[[/underline]]   $58,000.00

ELIE NADELMAN        [[underline]]Female Nude Standing[[/underline]]   drypoint
                      $1,000.00
                     [[underline]]High Kicker[[/underline]]  $1,250.00     drypoint