James L. and Patricia A. Connell - Page 7

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          contractor for three of the properties that Universal would lease           
          to Series 162.                                                              
               The limited partnership interests in Series 162 were sold by           
          Chadwick Investor Services, Inc. (Chadwick), a corporation owned            
          by Belloff, Gold, and Ronald Cohen (no relationship to Irving               
          Cohen).  As compensation for selling the limited partnership                
          interests in Series 162, Chadwick received a commission of 10               
          percent of the cash invested by the limited partners.  Chadwick,            
          in turn, paid a commission to its independent sales                         
          representatives.                                                            
               During 1983, petitioner became involved in selling, as an              
          independent sales representative, limited partnership interests             
          in the 1983 Barrister partnerships, including Series 162.5  As a            
          result of those sales, petitioner received commissions during               
          1983 from Universal, Chadwick, and Townsend totaling $55,375.               
          During 1984, petitioner received commissions from Parliament                
          Securities, Inc.,6 Universal, and Carrington Associates, an                 
          affiliate of Universal's, totaling $66,650.                                 
               In December 1983, petitioner acquired a 4.8781 percent                 
          limited partnership interest in Series 162 for $25,000, paying              

          5                                                                           
               Prior to 1983, petitioner had been a salesman for 25 years.            
          Among the products previously sold by petitioner were mutual                
          funds and life insurance.  Petitioner has a college degree in               
          business.                                                                   
          6                                                                           
               In 1984, Chadwick changed its name to Parliament Securities,           
          Inc.                                                                        




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