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WEBSTER SHEFFIELD & CHRISTIE
ATTrORNEYS AND COUNSELLORS AT LAW
40 WALL STREET
NEW YORK 5
:ovemnber 16, 1960
Miss Cecile Kempner,
24 West 55th Street,
Hew York 19, N. Y'.
Dear Miss 1 empner1
We have received the pe d emorandum pre-
pared by Mr. Meehan and neither N . Va c ten of our
office, who handles the tax pr of yo cousin, nor
I can understand it. We fee at is mem ndum biust
have averaged gift costs an ed costs. For example,
1,452 shares of H. P. Kempne on Co. at $9.35 would
total $13, 576.26. c qu d from the donors on 1/1/20
in the amount of 1 8's es $2.33 would total $23,784,.64
making a total of -L7,360. . ierited certificates cannot
be segregated sine there s a consequent spin-off of a
whole blo he areass Nevertheless, all should be allo-
cated to e spin-o herited shares, thus -
Proc ds $2,767.96
ares at $9.35 2,589.95
gain j4178.01
i!e feel it would be advisable for you to send a
copy of this letter to Mr. Meehan so that he can consider it
and advise us as to his and his advisors views as this will
affect both your and your cousins tax returns.
Sincerely yours,
CS:lrnclos
cc. Enclosed