Robert D. Grossman, Jr. - Page 43

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          Krugerrands for the Sley Corporations.  The sales produced a 1980           
          profit of $75,150 for the Sley Corporations.                                
               In 1981, there was a very rapid drop in the prices of both             
          diamonds and gold.                                                          
               In 1980, Ben was employed as a stockbroker; he engaged in              
          transactions on behalf of the Sley Corporations that year.  In              
          1981, Ben went back to law school full-time.  From 1981 through             
          1986, Ben did not perform any investment services for the Sley              
          Corporations other than generally keeping abreast of financial              
          markets for the Sley Corporations and for his own investment                
          purposes, and reviewing monthly account statements from the banks           
          at which the Sley Corporations had cash management accounts.  In            
          1987, Ben made some investments for Markette’s pension and                  
          profit-sharing plan.                                                        
               On January 20, 1984, Girard Holding Co., Inc., sold land and           
          parking lot improvements for $640,000; it reported a $511,658               
          gain on this sale.  Twelfth and Sansom Corp. was liquidated in              
          1985.  The liquidation included about $1 million worth of assets.           
               Apart from the disposition of Krugerrands when Twelfth and             
          Sansom Corp. was going through its liquidation, none of the Sley            
          Corporations bought or disposed of any Krugerrands or diamonds              
          between the end of 1980 and the end of 1986.  See infra table 1.            
          In fact, the Sley Corporations still owned those same Kruggerands           
          and diamonds during the trial of the instant cases.                         





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