Upon reflection, it would appear that perhaps the assumption about “Fips adm’rs” was a bit hasty. Without seeing the estate records, it seems more probable that “Fips adm’rs” should be taken as referring to the administrators of the Fips estate, rather than that Fips were administrators of the Clement Read, Jr. estate. Apologies for the error, but it would still be interesting to see if the Clement Read, Jr. estate records would contain any further information of interest.
Phipps Genealogy 