Investment Research Associates - Page 93




                                       - 175 -                                        
              By the end of the year 1986, the amount of money in CD's at             
         the Wells Fargo Bank decreased to zero.  Of the money that had               
         been in CD's, $1,205,900 had been transferred to a Goldman Sachs             
         brokerage account.  The money in the Goldman Sachs brokerage                 
         account at the end of the years 1987 through 1989 was as follows:            
                             Year           Goldman Sachs                             
                             1987               $53,803                               
                             1988                75,460                               
                             1989               155,300                               
              During the years 1986 through 1989, moneys for TMT were                 
         deposited in an account maintained at the Citizen Bank.  The                 
         balance in this account at the end of the years 1986 through 1989            
         was as follows:                                                              
                             Year           Citizen Bank                              
                             1986              $25,248                                
                             1987               26,600                                
                             1988                1,929                                
                             1989                2,023                                
              TMT also had a money market account (Kemper Money Market                
         account).  At the end of the year 1989, there was a balance of               
         $349,182 in the Kemper Money Market account.                                 
         ii. "Loans" From TMT                                                         
              In 1984 receivables owed by Ballard's Seabright Trust and               
         Seabright Corp. respectively in the amounts of $12,255 and                   
         $31,440 were transferred from Administration Co. to TMT.  From               
         1984 through 1989, the Seabright Trust and Seabright Corp.                   
         received additional "loans" totaling $132,980 from TMT.  The                 
         balances on these loans at the end of each year were as follows:             





Page:  Previous  165  166  167  168  169  170  171  172  173  174  175  176  177  178  179  180  181  182  183  184  Next

Last modified: May 25, 2011