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171/ [[underline]] Sept. 30 [[/underline]] [[red underline]] Henson [[/red underline]] says paragraphs of some of the Trust funds he read [[red underline]] are not contradictory, [[/red underline]] but that last clause concerning irrevocability is in doubt and will depend on a pending decision of the courts which may [[strikethrough]] be render [[/strikethrough]] is expected to be given this winter on a presiding case [[vertical note in left margin in red]] Will [[/vertical note in left margin]] All [[red underline]] this is very puzzling [[/red underline]] and very discouraging to me. [[strikethrough]] Oct 1 [[/strikethrough]] [[underline]] October 1. [[/underline]] Since sometime our cast department has made [[red underline]] wonderfully clear transparent, [[/red underline]] which looks like [[red underline]] glass [[/red underline]] and polishes [[strikethrough]] well [[/strikethrough]] as well. The [[red underline]] irrevocable Trust fund of 1000 shares Bakelite Pfd [[/red underline]] for the benefit of [[red underline]] Nina's four children was made on Sept 30 [[/red underline]] -1929. Nina's irrevocable trust fund 3000 Bakelite Pfd was made April 2-32 Nina was divorced from George Roll Dec. 9-1933 [[vertical note in left margin in red]] Will [[/vertical note in left margin]] I desire to know at what date the law concerning freedom of taxation of irrevocable trust funds was passed to restrict the irrevocability stipulations, as mentioned to me by Henson [[underline]] October 2. [[/underline]] Celine went to bank so as to get some of my B. Pfd so as [[red underline]] to give my grandchildren and Geo each 45 [[/red underline]] shares thereof before end of year. Urged Henson to get the 3 new irrevocable trusts ready for George's three children, who until now have had no gifts from me. [[vertical note in left margin]] Will [[/vertical note in left margin]] The law allows me to give free from gift tax, as much as $5000 each in each year and the present value of Pfd stock is such that I can give them each 50 sh. of Pfd, but I shall remain well within limits and give each 45 shares [[end page]] [[start page]] 172/ I do not see why one cannot attach to an irrevocable trust any explanations which make text clearer [[strikethrough]] without [[/strikethrough]] but which do not change its character of irrevocability? I [[red underline]] believe Henson is over-cautious [[/red underline]] on this point. [[vertical note in left margin in red]] Will and Trust Funds [[/vertical note in left margin]] Henson came to my office this evening between 5 & 6 P.M to discuss further my new will and give opinions about former irrevocable trust-funds. I bought $10000 worth of United Fruit stock for Nina's Trust. Stock had gone down on account of Hurricane damage of Bananas in Jamaica. Bought it at lowest. News that [[red underline]] Italian Army [[/red underline]] had invaded Ethopia and had killed many solders is announced. [[vertical note in left margin]] Ethiopia invaded [[/vertical note in left margin]] General denunciation of Mussolini and his brutal acts. Sympathy with Ethiopia everywhere. - [[red underline]] Where are we drifting? [[/red underline]] - England preparing for the worst, mobilisation and [[strikethrough]] batt [[/strikethrough]] warships. All the criticism of Henson about wills and trusts made by Hays puts me in a very nervous condition and takes my attention away of other urgent matters. [[vertical note in left margin in red]] Hays & wills [[/vertical note in left margin]] Probably Hays committed those mistakes [[strikethrough]] dir [[/strikethrough]] during his years of intense agitation after he joined Harris, Upham & Co, stockbrokers then thru the boom which soon broke, then later after progressive collapse of financial structure etc. then finally he joining again his former law firm and always on the run, to attend to our succeeding matters. - More and better deliberation on his part might have saved me my present worries. I bought some Weston El. Instrument stock.
