From the Oakland Walking Tour:

"Thomas Neal erected this monument in memory of his wife and daughter. The mother figure is holding an open book, which symbolizes perfect knowledge, while the daughter figure is holding a closed book, symbolizing concealed knowledge. They are adorned by a laurel wreath (eternity), palm branch (spiritual victory over death), and Celtic cross (eternal life; faith and redemption); both are wearing flowing Greek or Roman like robes in the Neo-Classical Style."