Durham Farms #1 - Page 52




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          the same during these years.  Tom James, who had operated and               
          managed Timeshares Breeding Services since about 1986, testified            
          that Timeshares Breeding Services had a total of approximately              
          3,133 to 3,234 cattle in 1993, and that this would have been the            
          maximum number of cattle Timeshares Breeding Services had in its            
          operation at any one time.29                                                
               Although petitioners argue far greater numbers of additional           
          breeding cattle existed and were available to be purchased and              
          owned by all of the cattle-breeding partnerships during 1987                
          through 1992, they have failed to produce any concrete,                     
          convincing evidence establishing their claim.                               
               Most importantly, petitioners have failed to account for and           
          establish precisely the total number of breeding cattle annually            
          present from 1987 through 1992, which the Hoyt organization                 
          collectively managed on behalf of each of the numerous cattle-              
          breeding partnerships it organized, promoted, and operated.  The            



               29Tom James estimated that, in 1993, the Timeshares Breeding           
          Services operation had a total of 3,133 to 3,234 cattle,                    
          consisting of the following numbers of bulls, cows, and heifers:            
               Location or Parties                                                    
               Holding Cattle     Bulls    Cows      Heifers                          
               Clements, CA           410       --        370                         
               Trent, TX               33    255-256    -–                            
               Various Users          265      --     11,800-1,900                    
          Total                708    255-256   2,170-2,270                           
          1    Represents calves owed by users for their use of bulls in              
          three or four breeding seasons.                                             





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