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SMITHSONIAN INSTITUTION

property was taken from the appraisal report. The farm is located in the first election district of Anne Arundel County, Md., between Muddy Creek Road (Md. Rte. 2) and the shores of Rhode River and Muddy Creek. According to the information available, but not guaranteed, the tract contains 366 acres. All buildings thereon have deteriorated or been vandalized to the extent of being worthless. There is a water frontage of approximately 7,300 feet, not prime, however, this frontage does place the property out of the usual farm or waste land category and does present a development potential. The appraisal lists the fair market value as of October 10, 1963 at $185,000. 

ONE LOT: This property is located at 700 North Kresson Street, Baltimore, Md. It is an unimproved lot on the west side of Kresson Street, 115 feet north of Monument Street. The property is zoned for industrial use. The lot is subject to an easement 25 feet wide extending from Kresson Street to the rear property line, a distance of about 330 feet, subject to use in common by this property and the property adjoining on the south. An appraisal dated May 20, 1963 lists the fair market value as $56,400.00.

ONE LOT AND IMPROVEMENTS: This property is located at 7-11 Chesapeake Avenue, Towson, Maryland (about 20 miles north of Baltimore). A request has been made for an appraisal, but as yet not received. We are informed that the property is leased at a monthly rental of $700.00.

Investments of Cash Received

The cash received in July 1963 (two checks totaling $900,000.00) placed in our Consolidated Fund and invested immediately in the purchase of the following stocks and bonds: 

2600 Shares American Cyanamid
2600 Shares Household Finance 
3600 Shares Union Pacific R.R. Co.
2000 Shares Texaco, Inc.
$200,000 U.S. Treasury Bonds 4% (8-15-70)
$200,000 U.S. Treasury Notes 3 3/4% (11-15-64)

(In the above purchases the proceeds from the sale of 2700 shares of Eaton Mfg. Co. were used to make up the difference between the total cost of the above purchases of $922,444 and the $900,000 available for investment.)

The cash received in November, 1963 (two checks totaling $470,621.19) was invested in the purchase of the following stocks and bonds: