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Partnership Investments
The CGF and Lincoln Partnerships invested the partners'
capital contributions, directly and through investment part-
nerships, in U.S. Government bonds, short-term fixed income
obligations, and marketable securities, and in various
businesses, including precious metals, real estate, natural gas,
and hotel management. During CGF's taxable years in issue, the
CGF Partnerships, when examined collectively, invested most of
their assets in the following four investment partnerships: Net
Venture, Gopher Fund, Lake Union Hotel Associates Ltd. Partner-
ship (Lake Union), and GAR Ninety. The specific dollar amounts,
with corresponding percentage figures in parentheses, that each
CGF Partnership invested in the above–mentioned investment
partnerships are set forth in appendix C.
During Lincoln's taxable years in issue, the Lincoln Part-
nerships, when taken as a whole, invested most of their assets in
Net Venture, Gopher Fund, Gill Industries, L.P., and Falcon Fund.
Appendix D is a table showing the dollar amounts, with corre-
sponding percentage figures in parentheses, that each Lincoln
Partnership invested in the investment partnerships just listed.
Net Venture was a general partnership formed on November 29,
1985, between a corporation named Garvey, Inc., with Robert A.
Page as president, and four trusts; i.e., Olive W. Garvey
Revocable Trust, Ruth G. Fink Revocable Trust, Olivia G. Lincoln
Revocable Trust, and George A. Lincoln Revocable Trust.
According to its partnership agreement, its business purpose was
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