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tioners' stockholdings in White Star.
Certain Bank Transactions of
Petitioners During the Years at Issue
Certain Loans for Which Petitioners Applied
On August 11, 1986, petitioners signed a residential loan
application (1986 loan application) in which they applied for a
loan of $297,500 from The Berlin City Bank to purchase certain
property located in North Conway, New Hampshire (North Conway
property). Petitioners indicated in that application that the
purchase price of the North Conway property was $350,000, that
they intended to make a cash downpayment on that purchase of
$52,500, and that their monthly gross income was $185,000.
In an attachment to the 1986 loan application entitled
"Notes of Financial Status, Anthony G. and Shirley A. Olbres,
Hampton, NH 03842", petitioners listed the following four bank
accounts: (1) The Indian Head business savings account, (2) the
Indian Head personal savings account, (3) Exeter bank account
number 14 747 3 01,11 and (4) the Kennebunk personal savings
account. In another attachment to the 1986 loan application,
petitioners indicated that they received gross monthly income of
$4,000 and net monthly income of $841 from the lease of the
Seabrook property to Johnson Matthey and that they made monthly
mortgage and real property tax payments of $3,109 and $50,
11 Records relating to Exeter bank account number 14 747 3 01
are not part of the record.
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