In 1937, Ruth and George expected Richard to graduate high school and then continue his education in college (perhaps with an intervening year or two at home). So they expected this clause to apply while Richard was in high school (or later at home):
The said George D. Morse shall and will pay to the said trustee in trust for his said minor son Richard the sum of twelve hundred dollars ($ 1,200) per year, payable in equal monthly installments on the first day of each month until the entrance of Richard D. Morse into some college, university or higher institution of learning beyond the completion of the high school grades
And this one if and when George when to college:
thereupon, instead of said payments, amounting to twelve hundred dollars ($ 1,200) yearly, he shall and will then pay to the trustee payments in the sum of twenty-two hundred dollars ($ 2,200) per year for a period of said higher education but not more than four years
Do you agree that Ruth and George had the above expectations?